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Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
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Name : |
DENDER TRADING LTD. |
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Registered Office : |
Unit 1901A, 19/F., Tower 1, New World Tower, 16-18 Queen’s Road Central, Central, |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.04.2005 |
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Com. Reg. No.: |
35551694 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of all kinds of iron & steel products, etc. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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
DENDER TRADING
LTD.
ADDRESS: Unit 1901A, 19/F., Tower 1, New World Tower,
16-18 Queen’s Road Central, Central, Hong Kong.
PHONE: 2525 7225
FAX: 2525 7978
E-MAIL: admin@dender.com.hk
Managing Director: Mr. Mang Tak
Hing, Andrew
Incorporated on: 20th
April, 2005.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Iron & Steel Product Trader.
Employees: 5.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Unit 1901A, 19/F., Tower 1, New World Tower, 16-18 Queen’s Road Central,
Central, Hong Kong.
35551694
0964872
Managing Director: Mr. Mang Tak
Hing, Andrew
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100.00
(As per registry dated 20-04-2012)
|
Name |
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No. of shares |
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MANG Tak Hing |
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5 |
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YANG Xiao Hua |
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90 |
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SHI Yan |
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5 |
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––– |
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Total: |
100 === |
(As per registry dated 20-04-2012)
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Name (Nationality) |
Address |
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YANG Xiao Hua |
No. 2, 156 Nong Yuqing Road, Xuhui Qu, Shanghai Shi, China. |
|
MANG Tak Hing |
Room B, 41/F., Block 1, Illumination Terrace, 5 Tai Hang Road, Hong
Kong. |
(As per registry dated 20-04-2012)
|
Name |
Address |
Co. No. |
|
Apex Corporate Secretaries Ltd. |
6/F., Kwan Chart Tower, 6 Tonnochy Road, Wanchai, Hong Kong. |
0148322 |
The subject was incorporated on 20th April, 2005 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: Iron
& Steel Product Trader.
Lines: All
kinds of iron & steel products, etc.
Employees: 5.
Commodities Imported: India, Russia, Europe, etc.
Markets: Africa,
Australasia, Central & South America, China, Eastern Europe, Hong Kong,
Japan, Korea, Middle East, North America, Other Asian Countries, Scandinavia,
Southeast Asia, Taiwan, Western Europe, 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$100.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making rather active
use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
Bank of
China (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued 100 ordinary shares of HK$1.00 each, Dender Trading Ltd.
is jointly owned by Mr. Mang Tak Hing, holding 5% interests; Mr. Yang Xiao Hua,
holding 90%; Mr. Shi Yan, also 5%. The
second and third are residing in Shanghai, China.
The subject is trading in the following commodities:-
·
Bar - Steel (For Building and Construction ) (OEM);
·
Building Material - Masc. (Steel, OEM), etc. &
·
Steel (OEM).
The subject’s products are marketed in Hong Kong, China and re-exported
to the following countries and areas:-
Africa, Australasia, Central & South America, Eastern Europe, Japan,
Korea, the Middle East, North America, Scandinavia, Southeast Asia, Taiwan,
Other Asian Countries, Western Europe, etc.
The subject is chiefly engaged in trading and logistics of steel pipes
and tubes with the qualification of doing import and export business.
According to the subject, it is an agent for carton steel of the Timber
Company.
The subject has had an associated company bearing the same name and
managed by Yang Xiao Hua and Shi Yan.
The Shanghai firm has got the following awards:-
1.
2006 Shanghai Famous Brand Award;
2.
Certification of contract credit AAA Grade;
3.
ISO 14001:2004 Certification of standard
Environmental Management system; &
4.
Shanghai top 100 private enterprises in 2006.
The business of the subject has been active as the demand of iron and
steel products has been increasing. The
subject currently is looking for more suppliers.
The subject’s business is profitable.
As the history of the subject is about eight years in Hong Kong, on the
whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
24-07-2007 |
Instrument: Deed of Indemnity, Charge Over Deposit
and Set-Off Property: By way of Fixed Charge to the Bank all the Company’s estate, right,
title, claim, benefit and interest to and in the Deposit (Account No.
012-3011225-5) and all interest from time to time payable thereon and
together with all title deeds and documents relating thereto Mortgagee: Bank of China (Hong Kong) Ltd.,
Hong Kong. |
All moneys in respect of general banking facilities of whatever nature
& in whatever currency or currencies to any extent Bank of China (Hong
Kong Ltd.) shall think fit granted or to be granted to Dender Trading Ltd. on
such terms, conditions, manner and form and for so long as the Bank may at
its sole discretion think fit together with interest accrued thereon |
|
11-09-2010 |
Instrument: Deed of Indemnity, Charge Over Deposit
and Set-Off Property: By way of Fixed Charge to the Bank all the Company’s estate, right,
title, claim, benefit and interest to and in the Deposit (Account No.
012-3011225-5) and all interest from time to time payable thereon and
together with all title deeds and documents relating thereto Mortgagee: Bank of China (Hong Kong) Ltd.,
Hong Kong. |
All moneys in respect of general banking facilities of whatever nature
& in whatever currency or currencies to any extent Bank of China (Hong Kong
Ltd.) shall think fit granted or to be granted to Dender Trading Ltd. on such
terms, conditions, manner and form and for so long as the Bank may at its
sole discretion think fit together with interest accrued thereon |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
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|
1 |
Rs.82.32 |
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Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.