|
Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
PAO
LIN CORP. LTD. |
|
|
|
|
Registered Office : |
c/o Primasia
Corporate Services Ltd., Suite 2909-2910, 29/F., China Resources Building, 26
Harbour Road, Wanchai |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
28.05.2010 |
|
|
|
|
Com. Reg. No.: |
52348032 |
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|
|
|
Legal Form : |
Private Limited Company. |
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|
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Line of Business : |
Importer, Exporter and Wholesaler of Footwear, garments, etc. |
|
|
|
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No. of Employees : |
Not
Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
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 |
|
Status : |
No Operating Office in Hong Kong |
|
Payment Behaviour : |
--- |
|
Litigation : |
--- |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
PAO LIN
CORP. LTD.
c/o Primasia Corporate Services Ltd.
Suite 2909-2910, 29/F., China Resources Building, 26 Harbour Road, Wanchai, Hong Kong.
PHONE: 2882 2088
FAX: 8169 9011
Managing Director: Mr. Jose Pedro Barrio Pintos
Incorporated on: 28th May, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$9,600.00
Issued: HK$9,600.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Primasia Corporate Services Ltd.
Suite 2909-2910, 29/F., China Resources Building, 26 Harbour Road, Wanchai, Hong Kong.
52348032
1461815
Managing Director: Mr. Jose Pedro Barrio Pintos
Nominal Share Capital: HK$9,600.00 (Divided into 9,600 shares ofHK$1.00 each)
Issued Share Capital: HK$9,600.00
(As per registry
dated 28-05-2012)
|
Name |
|
No. of shares |
|
Jose Pedro BARRIO PINTOS |
|
4,800 |
|
Jorge Sebastian ROYBAL MARCHISIO |
|
4,800 |
|
|
|
––––– |
|
|
Total: |
9,600 ==== |
(As per registry
dated 28-05-2012)
|
Name (Nationality) |
Address |
|
Jorge Sebastian ROYBAL MARCHISIO |
Amsterdam 1450 Apto. 7, Montevideo, Uruguay. |
|
Jose Pedro BARRIO PINTOS |
Antonio Pena 2337, Montevideo, Uruguay. |
(As per registry
dated 28-05-2012)
|
Name |
Address |
Co.
No. |
|
Primasia Corporate Services Ltd. |
Suite 2909-2910, 29/F., China Resources Building, 26 Harbour Road, Wanchai, Hong Kong. |
0282923 |
The subject was incorporated on 28th May, 2010 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: Footwear, garments, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: Uruguay, other South American countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: Prepayment, L/C, etc.
Nominal Share Capital: HK$9,600.00 (Divided into 9,600 shares of HK$1.00 each)
Issued Share Capital: HK$9,600.00
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: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 9,600 ordinary shares of HK$1.00 each, Pao Lin Corp. Ltd. is equally owned by Mr. Jose Pedro Barrio Pintos and Mr. Jorge Sebastian Roybal Marchisio, both are Uruguay merchants. They are Uruguay passport holders and do not have the right to reside in Hong Kong permanently. Being also directors of the subject,. they are currently residing in Uruguay.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Suite 2909-2910, 29/F., China Resources Building, 26 Harbour Road, Wanchai, Hong Kong” known as “Primasia 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 is trading in the following commodities: Shoes, footwear, sport shoes, sweaters, shirts, woollen garments, other garments, textile products, household accessories, etc.
It usually takes part in Canton Exhibition Fair in order to source commodities from the suppliers of China.
The subject’s main office is in Uruguay. Its business in Hong Kong is not active. History is just over two years.
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.55.52 |
|
UK Pound |
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.