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Report Date : |
13.09.2012 |
IDENTIFICATION DETAILS
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Name : |
FAME
TOP INTERNATIONAL LTD. |
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Registered Office : |
c/o Silvermark Consultants Ltd., Room 1704, 17/F., Arion Commercial Centre, 2-12 Queen’s Road West, Sheung Wan |
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Country : |
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Date of Incorporation : |
01.09.2006 |
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Com. Reg. No.: |
37198529 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of cold rolled stainless steel coils and sheets, 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 – 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.
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Source : CIA |
FAME TOP INTERNATIONAL LTD.
c/o Silvermark Consultants Ltd.
Room 1704, 17/F., Arion Commercial Centre, 2-12 Queen’s Road West, Sheung Wan, Hong Kong.
PHONE: 2877 3010
FAX: 2877 2008
Managing Director: Mr. Lun Ying Biu
Incorporated on: 1st September, 2006.
Organization Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1,000.00
Business Category: Iron & Steel Product Trader.
Employees: Nil.
Main Dealing Banker: HBZ Finance Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
c/o Silvermark Consultants Ltd.
Room 1704, 17/F., Arion Commercial Centre, 2-12 Queen’s Road West, Sheung Wan, Hong Kong.
Associated
Companies:-
Foshan Fame Top International Ltd., China.
Foshan Nanhai Zenith Enterprises Ltd., China.
37198529
1071273
Managing Director: Mr. Lun Ying Biu
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000.00
(As per registry
dated 01-09-2011)
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Name |
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No. of shares |
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LUN Ying Biu |
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500 |
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LAM Bing Yu |
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500 |
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––––– |
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Total: |
1,000 ==== |
(As per registry
dated 15-08-2012)
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Name (Nationality) |
Address |
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LUN Ying Biu |
Flat A, 8/F., Block 5, Greenfield Garden, Tsing Yi, New Territories, Hong Kong. |
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LAM Bing Yu |
Flat A, 24/F., Block 33, City One, Shatin, New Territories, Hong Kong. |
(As per registry
dated 01-09-2011)
|
Name |
Address |
Co.
No. |
|
Silvermark Consultants Ltd. |
Room 1704, 17/F., Arion Commercial Centre, 2-12 Queen’s Road West, Sheung Wan, Hong Kong. |
0194765 |
The subject was incorporated on 1st September, 2006 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 and Exporter.
Lines: All kinds of cold rolled stainless steel coils and sheets, etc.
Employees: Nil.
Commodities Imported: China, etc.
Markets: Hong Kong, China, other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000.00
Mortgage or Charge: (See attachment)
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: HBZ Finance Ltd., Hong Kong.
Standing: Small.
Having issued 1,000 ordinary shares of HK$1.00 each, Fame Top International Ltd. is equally owned by Mr. Lun Ying Biu and Mr. Lam Bing Yu. Both are Hong Kong merchants. They are also directors of the subject. At present, Lun and Lam are residing in Hong Kong.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 1704, 17/F., Arion Commercial Centre, 2-12 Queen’s Road West, Sheung Wan, Hong Kong known as Silvermark Consultants 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 known as Foshan Fame Top International Ltd. [FFTI] which is in Foshan City, Guangdong Province, China.
FFTI is a leading manufacturer and stockist of cold rolled stainless steel coils and sheets in Guangdong Province of China. It supplies stainless steel sheets and coils in different kinds of grade, such as AISI 304, 201, 410, 430, 420 J1 & J2, etc. It is also specialized in supplying stainless steel circles for utensils and kitchenware industry throughout the world.
FFTI also supplies narrow strips of grade 304 and 430 series material in domestic and overseas market. It is also able to supply secondary stainless steel constantly.
Furthermore, FFTI is able to customize products based on customers’ requirements such as tension levelling, slitting, cut to length, PVC laminated for BA and NO. 4 finish, etc. It can provide full spectrum of the value added service to its customers.
According to FFTI it has had a joint venture engaged in manufacturing stainless steel sink, Kitchen Sink, etc.. The joint venture is a professional sink manufacturer in China with over a decade of experience in developing and marketing.
FFTI’s products are marketed in Hong Kong, China, exported to Japan, other Asian countries, etc. Business is normal.
The contact person of FFTI Ms. Tracy Deng is a Chinese.
The subject’s business in Hong Kong is not active. History in Hong Kong is over six 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.
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Date |
Particulars |
Amount |
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15-01-2008 |
Instrument: Lien & Set-Off Agreement Property: Fixed
Deposit DFN0010114 15-01-2008 EUR 64,905.66 16-04-2008 Mortgagee: HBZ Finance Ltd., Hong Kong. |
Loans, credit financial accommodation and facilities |
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18-12-2008 |
Instrument: Lien and Set-Off Agreement Property: Fixed
Deposit DFN0122194 18-12-2008 USD200,000.00 18-03-2009 Mortgagee: HBZ Finance Ltd., Hong Kong. |
Loans, credit financial accommodation and facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.26 |
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UK Pound |
1 |
Rs.88.85 |
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Euro |
1 |
Rs.71.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.