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Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG HUA RUI
INTERNATIONAL DEVELOPMENT LTD. |
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Registered Office : |
C/o Nathan Commercial International Group Ltd. Room 1401, 14/F., Cambridge House, 26‑28 Cameron Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.12.2011 |
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Com. Reg. No.: |
59280219 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available |
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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 Company |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
HONGKONG HUA
RUI INTERNATIONAL DEVELOPMENT
LTD.
Address: c/o Nathan
Commercial International Group Ltd.
Room 1401,
14/F., Cambridge House,
26‑28 Cameron
Road, Tsimshatsui,
Kowloon,
Hong Kong.
(Your enquiry given as:
HKG HUA RUI INTL DEV LTD.
of the same address.)
[Tel: 2770 3329; Fax: 2770 3362]
59280219
1692695
21st December, 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 21-12-2011)
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Name |
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No. of shares |
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SHAO Hua |
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6,000 |
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LIU Ting |
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4,000 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 21-12-2011)
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Name (Nationality) |
Address |
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SHAO Hua |
Room L-502, 3rd Area, Jin Di Ge Lin Lai Yin, Hongshan District, Wuhan
City, China. |
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LIU Ting |
Room L-502, 3rd Area, Jin Di Ge Lin Lai Yin, Hongshan District, Wuhan
City, China. |
(As per registry dated 21-12-2011)
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Name |
Address |
Co. No. |
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Nathan Commercial International Group Ltd. |
Room 1401, 14/F., Cambridge House, 26‑28 Cameron Road,
Tsimshatsui, Kowloon, Hong Kong. |
1254232 |
The subject was incorporated on
as a private limited liability company under the Hong Kong Companies
Ordinance.
Hongkong Hua Rui International Development Ltd. was incorporated on
21st December, 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 Room 1401, 14/F., Cambridge House, 26‑28 Cameron
Road, Tsimshatsui, Kowloon, Hong Kong known as Nathan Commercial
International Group 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.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each of which 60% are owned by Mr. Shao
Hua, 40% were owned by Ms Liu Ting. Both
of whom are China merchants and currently residing in Wuhan City, Hubei
Province, China. They are China ID
holders and do not have the right to reside in Hong Kong permanently. They are also directors of the subject. Shao and Liu seem to be a couple. They cannot be reached as no contact phone
number is available.
The subject is an investment holding company. It is likely that it has got an associated
company in Wuhan City, Hubei Province, China which is also operated by the
shareholders of the subject.
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’s business in Hong Kong is not active. History in Hong Kong is just over eight
months.
The subject has been banking with Bank of China (Hong Kong) Ltd. in
Hong Kong.
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.55.97 |
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1 |
Rs.89.02 |
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Euro |
1 |
Rs.70.61 |
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 |
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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.