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Report Date : |
25.09.2012 |
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IDENTIFICATION DETAILS
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Name : |
LAPPEX LTD. |
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Registered Office : |
C/o H. C. Cheung & CPA Ltd. Room 2907, 29/F., Shun |
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Country : |
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Date of Incorporation : |
29.03.2005 |
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Com. Reg. No.: |
35461310 |
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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 : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
No Operating Office in |
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Payment Behaviour : |
-- |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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
LAPPEX LTD.
ADDRESS:
Registered Office:-
c/o H. C. Cheung & CPA Ltd.
Room 2907, 29/F., Shun Tak Centre West Tower, 168-200 Connaugt Road
Central, Hong Kong.
[Tel:2544 7081; Fax: 28151975]
35461310
0958803
29th March, 2005.
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 29-03-2012)
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Name |
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No. of shares |
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Alexander LAPKO |
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10,000 ===== |
(As per registry dated 29-03-2012)
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Name (Nationality) |
Address |
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Alexander LAPKO |
Apartment 130, Building 2, Khamovnichesky Val, Moscow, Russia. |
(As per registry dated 29-03-2012)
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Name |
Address |
Co. No. |
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Cornerstone Corporate Services Ltd. |
Room E, 16/F., Neich Tower, 128 Gloucester Road, Wanchai, Hong Kong. |
0516230 |
(See attachment)
Lappex Ltd. was incorporated on 29th March, 2005 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 an accountact
firm located at “Room 2907, West Tower, Shun Tak Centre, 168-200 Connaugt Road
Central, Hong Kong” known as “H. C. Cheung & CPA Ltd.” which is handling
its correspondences and documents.
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
Mr. Alexander Lapko who is a Russian.
He is a Russia passport holder and does not have the right to reside in
Hong Kong permanently. He is also the
only director of the subject.
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 he is not in Hong
Kong. No information of the subject can
be obtained from our secondary sources.
The subject’s business in Hong Kong is not active. History in Hong Kong is over seven 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 L/C basis.
|
Date |
Particulars |
Amount |
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24-09-2008 |
Instrument: Security Over Deposits with the Bank
Limited Company - Under Hand Property: Initially HK$100,000 - or equivalent and all monies whether now or
hereafter standing to the credit of the Company’s deposit with the Bank under
deposit number 110-883584 and whatever currency it may subsequently be
denominated in, any renewal of such deposit & the interest thereon
together with any further moneys is any deposit account with the Bank at any
of its offices Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure All monies in respect of banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.29 |
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1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.95 |
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.