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Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
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Name : |
RISING STAR IMPORT & EXPORT LTD. |
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Registered Office : |
C/o Hong Kong Accounting & Consulting Co. Office No. 3, 10/F., Witty Commercial Building, 1A-1L Tung Choi Street, Mongkok, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.04.2011 |
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Com. Reg. No.: |
53605788 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
NOT AVAILABLE NOTE: THE SUBJECT’S LINES OF BUSINESS ARE UNKNOWN SINCE THE
SECRETARIAL FIRM KNOWS NOTHING ABOUT ITS BUSINESS. THE DIRECTOR OF THE SUBJECT CANNOT BE REACHED AS SHE IS IN CHINA. |
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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 (31.03.2011) |
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.
Source : CIA
RISING STAR
IMPORT & EXPORT
LTD.
ADDRESS:
Registered Office:-
c/o Hong Kong Accounting & Consulting Co.
Office No. 3, 10/F., Witty Commercial Building, 1A-1L Tung Choi Street,
Mongkok, Kowloon, Hong Kong.
53605788
1551469
13th January, 2011.
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 13-01-2012)
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Name |
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No. of shares |
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LI Hai Juan |
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10,000 ===== |
(As per registry dated 13-01-2012)
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Name (Nationality) |
Address |
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LI Hai Juan |
Group 4, Guo Ying Fu Rong Tian Farm, Bai Sha Li Zu Zhi County, Hai Nan
Province, China. |
(As per registry dated 13-01-2012)
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Name |
Address |
Co. No. |
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D’kans International (HK) Ltd. |
Room H, 15/F., Siu King Building, 6 on Wah Street, Ngau Tau Kok,
Kowloon, Hong Kong. |
1242010 |
Rising Star Import & Export Ltd. was incorporated on 13th January,
2011 as a private limited liability company under the Hong Kong Companies
Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Office No. 3, 10/F., Witty Commercial Building, 1A-1L
Tung Choi Street, Mongkok, Kowloon, Hong Kong” which is handling its
correspondences and documents. Its
Corporate Secretary D’kans International (HK) Ltd. is located at a different
address.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each which are wholly owned by Ms. Li Hai
Juan who is a China businesswoman. 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 she
is residing in Hainan Province, China.
The subject’s lines of business are unknown since the secretarial firm
knows nothing about its business.
The director of the subject cannot be reached as she is in China.
No information of the subject can be obtained from our secondary sources.
It is likely that the subject has got an associated company in Hainan
Province, China which is also operated by Li.
It is also likely that the China firm deals with foreign parties under
the name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong. The
China firm also exports commodities to foreign markets under the name of the
subject and its registered address in Hong Kong.
The subject has been banking with The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
Its business in Hong Kong is not active.
History 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 L/C basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.04 |
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1 |
Rs.84.83 |
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Euro |
1 |
Rs.68.21 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.