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Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
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Name : |
TOPCARE INTERNATIONAL GROUP LTD. |
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Registered Office : |
c/o SBC Corporate Services Ltd., Room D, 10/F., Tower A, Billion
Centre, Wang Kwong Road, Kowloon Bay, Kowloon |
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Country : |
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Date of Incorporation : |
12.04.2012 |
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Reg. No.: |
59624784 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of spices, herbs,
seeds, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
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.
|
Source : CIA |
TOPCARE
INTERNATIONAL GROUP LTD.
c/o SBC Corporate Services Ltd.
Room D, 10/F., Tower A, Billion Centre, Wang Kwong Road, Kowloon Bay,
Kowloon, Hong Kong.
PHONE: 2507 7219
FAX: 2507 7225
Managing Director: Mr. Song Ya
Qin
Incorporated on: 12th April, 2012.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: Bank of
China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
TOPCARE INTERNATIONAL
GROUP LTD.
Registered
Office:-
c/o SBC Corporate Services Ltd.
Room D, 10/F., Tower A, Billion Centre, Wang Kwong Road, Kowloon Bay,
Kowloon, Hong Kong.
Associated
Company:-
Amax International Co. Ltd.
Room 1108, Tower A, Fu Tai Plaza, 18 Hong Kong Middle Road, Qingdao,
Shandong Province, China.
[Tel: 86-532-8873 5900,
86-532-8571 0533
Fax: 86-532-8873 5955]
59624784
1726977
Managing Director: Mr. Song Ya
Qin
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 12-04-2012)
|
Name |
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No. of shares |
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SONG Ya Qin |
|
10,000 ===== |
(As per registry dated 12-04-2012)
|
Name (Nationality) |
Address |
|
SONG Ya Qin |
Room 1108, Tower A, Fu Tai Plaza, 18 Hong Kong Middle Road, Qingdao,
Shandong Province, China. |
(As per registry dated 12-04-2012)
|
Name |
Address |
Co. No. |
|
SBC Corporate Services Ltd. |
Room B, 10/F., Tower A, Billion Centre, 1 Wang Kwong Road,
Kowloon Bay, Kowloon, Hong Kong. |
0618863 |
The subject was incorporated on 12th April, 2012 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 Wholesaler.
Lines: All kinds of spices, herbs, seeds, etc.
Employees: Nil.
Commodities Imported: China, etc.
Markets: China, other Asian countries, Middle
East, South America, etc .
Terms/Sales: As per contracted.
Terms/Buying: As per contracted.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital:
HK$10,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general
banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory
Banker: Bank of China (Hong Kong) Ltd.,
Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, TopCare
International Group Ltd. is wholly owned by Mr. Song Ya Qin who is a China
merchant. He is a China ID holder and
does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room D, 10/F., Tower A, Billion Centre, 1 Wang Kwong
Road, Kowloon Bay, Kowloon, Hong Kong” known as “SBC Corporate Services Ltd.”
which is handling its correspondences and documents. This firm is also the corporate secretary of
the subject.
The subject has no employees in Hong Kong. It has had an associated company Amax
International Co. Ltd. [Amax] in Qingdao City, Shandong Province, China. The subject is trading in the same products
as Amax.
Founded in 2007, Amax is a professional Spices, Herbs and Seeds producer
and exporter in China. It is famous name
in Spice-Market of the World, especially in the Middle East and Southeast of
Asia. Amax has its own factory and
warehouse. Amax is carrying the
following products:-
Beans;
Broad beans, Soya beans, Cowpeas, Kinden beans, etc.;
Cassia, Ginger, Galangal, Turmeric, Star aniseeds, Cumin seeds, Fennel
seeds, Caraway seeds, Black pepper, white pepper, Cloves, Chili, Garlic, Onion;
Ginseng, Rhubarb, Licorice, Saffron, Safflower, Linden flower; Herbs; Raisin,
Pumpkin seeds, Sunflower seeds, Watermelon seeds; Seeds; & Spices.
Amax’s products are exported to Japan, South Korea, the United States,
the Europe Union, Egypt, India, Pakistan, Bangladesh, Saudi Arab, the United Arab
Emirates, Sudan, Kenya, Israel, Lebanon, Brazil, Peru, etc.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Germany.
Amax is owned by Mr. Robin Ge Hong who is a China merchant. With a registered capital of RMB 500,000
Yuan, Amax has got ISO9001:2000 certification.
Its annual sales turnover ranges from US$25-30 million.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over seven
months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
|
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 |
|
-- |
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.