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Report Date : |
20.09.2012 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG HUAXIANG INTERNATIONAL CO. LTD. |
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Registered Office : |
Room 2103, 21/F., Easey |
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Country : |
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Date of Incorporation : |
04.06.2009 |
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Com. Reg. No.: |
50749571 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter all kinds of marble, granite, 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 |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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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 |
HONGKONG HUAXIANG
INTERNATIONAL CO. LTD.
c/o Hong Kong Century
Business Consultant Ltd.
Room 2103, 21/F.,
Easey Commercial Building, 253-261 Hennessy Road, Wanchai, Hong Kong.
PHONE: 2127 4570
FAX: 2127 4571
E-MAIL: info@cbchk.com
Managing
Director: Mr. Jiang Wen Bing
Incorporated on: 4th June, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer and Exporter.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONGKONG
HUAXIANG INTERNATIONAL CO.
LTD.
Registered
Office:-
c/o Hong Kong
Century Business Consultant Ltd.
Room 2103, 21/F.,
Easey Commercial Building, 253-261 Hennessy Road, Wanchai, Hong Kong.
Associated
Company:-
Huayi Stone
Materials Co. Ltd.
22 Wufeng
Industrial Area, Chongwu Town, Huian County, 362131 Quanzhou City, Fujian
Province, China.
[Tel: 86-595-8768
9028; Fax: 86-595-8767 1847, 8768 9168]
50749571
1343072
Managing
Director: Ms. Jiang Wen Bing
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 04-06-2012)
|
Name |
|
No.
of shares |
|
ZHUANG Ming Cong |
|
10,000 ===== |
(As per registry dated 04-06-2012)
|
Name (Nationality) |
Address |
|
JIANG Wen Bing |
Fengqiandong No. 365, Wufeng Village,
Congwu Town, Huian County, Fujian Province, China. |
(As per registry dated 24-09-2012)
|
Name |
Address |
Co.
No. |
|
Hong
Kong Century Business Consultant Ltd. |
Room 2103, 21/F., Easey Commercial Building, 253-261 Hennessy Road,
Wanchai, Hong Kong. |
1365574 |
The
subject was incorporated on 4th June, 2009 as a private limited liability
company under the Hong Kong Companies Ordinance.
The
subject does not have its own operating address. Formerly its registered address was located
at Flat B, 11/F., Wing Tat Commercial Building, 121‑125 Wing Lok
Street, Sheung Wan, Hong Kong where is the operating office of Continental
Corporate Services Ltd., moved to the present address with effect from 24th
September, 2009 as the subject has changed its corporate secretary since then.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Exporter.
Lines: All kinds of marble, granite, etc.
Employees: Nil.
Materials/Commodities: Imports raw materials from European countries, some Asian countries and finished products from China.
Markets: China, Hong Kong, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
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: 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.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
The Bank of East Asia (China) Ltd., China.
Standing: Small.
Hongkong
Huaxiang International Co. Ltd. is solely owned by Mr. Zhuang Ming Cong who is
a China merchant. The only director of
the subject Mr. Jiang Wen Bing is also a China merchant. Zhuang and Jiang currently are residing in
Chongwu Town, Huian County, Quanzhou City, Fujian Province, China.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Room
2103, 21/F., Easey Commercial Building, 253-261 Hennessy Road, Wanchai, Hong
Kong known as Hong Kong Century Business Consultant Ltd. which is handling
its correspondences and documents. Hong
Kong Century Business Consultant Ltd. is also the corporate secretary of the
subject.
The
subject has no employees in Hong Kong.
In
China, the subject has had an associated company known as Huayi Stone Materials
Co. Ltd. [Huayi] which is also located at Chongwu Town, Huian County, 362131
Quanzhou City, Fujian Province, China.
Huayi is also operated by Jiang Wen Bing who is also the legal
representative.
Huayi
is engaged in manufacturing and processing marble, slab, tomb slab, and
granite. It also manufactures stone
statues. Commodities are marketed in
China or exported to Hong Kong, Japan, other Asian countries, etc. Business is just fair.
Founded
in 1994, Huayi has about 30 employees.
The annual sales turnover of Huayi ranges from RMB7.0 to 7.5 million
Yuan. Just making a very small profit
every year.
The
subject’s business in Hong Kong is not active.
History in Hong Kong is just over three years.
Since
the subject does not have its own operating office and has no employees in Hong
Kong, on the whole, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.25 |
|
|
1 |
Rs.88.14 |
|
Euro |
1 |
Rs.71.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
<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.