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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
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Name : |
LOYAL
SKY LTD. |
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Registered Office : |
Room 26H3, 26/F., |
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Country : |
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Date of Incorporation : |
11.07.2011 |
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Com. Reg. No.: |
58648791 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Manufacturer of Copper Clad, Isolated Materials, Heat Conducting Materials, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
No Operating Office in Hong Kong |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Hong Kong - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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Source : CIA |
LOYAL SKY LTD.
Room 26H3, 26/F., Legend Tower, 7 Shing Yip Street, Kowloon, Hong Kong.
PHONE: 2977 5166
FAX: 2813 0963
Managing Director: Ms. Lu Yefang
Incorporated on: 11th July, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Importer, Exporter and Manufacturer.
Employees: Nil.
Main Dealing Banker: Australia & New Zealand Bank (China) Co. Ltd., Shanghai Branch, China
Banking Relation: Satisfactory.
Registered
Office:-
Room 26H3, 26/F., Legend Tower, 7 Shing Yip Street, Kowloon, Hong Kong.
Associated
Company:-
Hengyu Electronic Technology Co. Ltd.
23 Qianxi Road, 311800 Zhu Ji Shi, Zhejiang Province, China.
[Tel: 86-575-8070 5505 Fax: 86-575-8070 1766]
58648791
1629890
Managing Director: Ms. Lu Yefang
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$ 1.00each)
Issued Share Capital: HK$1.00
(As per registry
dated 11-07-2012)
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Name |
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No. of share |
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LU Yefang |
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1 = |
(As per registry
dated 11-07-2012)
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Name (Nationality) |
Address |
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LU Yefang |
No. 112, Lu Jia, Ming Lian Cun, Tao Zhu Jie Dao, Zhu Ji Shi, Zhejiang Province, China. |
(As per registry
dated 11-07-2012)
|
Name |
Address |
Co.
No. |
|
On Wing Consultants Ltd. |
Room 1110, 11/F., Hang Bong Commercial Centre, 28 Shanghai Street, Kowloon, Hong Kong. |
1176466 |
The subject was incorporated on 11th July, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Manufacturer.
Lines: Copper Clad, Isolated Materials, Heat Conducting Materials, etc.
Employees: Nil.
Commodities Imported: China, South Korea, etc.
Markets: China, South Korea, India, Eastern Europe, North America, Southeast Asia, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$ 1.00each)
Issued Share Capital: HK$1.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Australia & New Zealand Bank (China) Co. Ltd., Shanghai Branch, China.
Standing: Small.
Having issued just one ordinary share of HK$1.00, Loyal Sky Ltd. is wholly owned by Ms. Lu Yefang who is a China merchant. She is a China ID holder and does not have the right to reside in Hong Kong permanently. She is also the only director of the subject. Currently, Lu is in China.
The subject does not have its own operating office. Its registered office is in a business centre located at “Room 26H3, 26/F., Legend Tower, 7 Shing Yip Street, Kowloon, Hong Kong” which is handling its correspondences and documents. The subject has its own telephone and fax number.
The subject has no employees in Hong Kong. It may have a representative in Hong Kong.
The subject has had an associated company Hengyu Electronic Technology Co. Ltd. [Hengyu] which is a China-based firm.
Your given phone and fax number 86-575-8070 5505 and 86-575-8070 1766 respectively belong to Hengyu. We can reach Lu Yefang at the given phone number. She is one of the CEOs of Hengyu.
The subject and Hengyu are engaged in the same lines of business. Founded in 2010, Hengyu covers an area of 80 acres and with a total investment of RMB320 million Yuan. It is engaged in manufacturing the following products:-
Copper Clad, Isolated Materials, Heat Conducting Materials, etc.
Most of the products bear the brand name Henry. The products are widely used in the industries of computer, telecommunication, metres and instruments, automobiles, railway transportation, aeronautics, energy, etc.
Its products are marketed in Southern, Eastern and Northern China, and exported to South Korea, India, Eastern Europe, North America, Southeast Asia, etc.
According to Hengyu, its annual sales turnover ranges from RMB1.6 to 1.8 billion Yuen. Business is rather active. Hengyu will be expanded in the years ahead. Its business will improve further in future.
The history of the subject in Hong Kong is just over a year.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.97 |
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UK Pound |
1 |
Rs.87.50 |
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Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.