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Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
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Name : |
CHINALINK INDUSTRY |
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Registered Office : |
C/o Louis Lai Co. Secretarial Services Ltd. 9/F., Surson Commercial Building, 140-142 Austin Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong. |
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Date of Incorporation : |
02.08.2006 |
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Com. Reg. No.: |
34244715-001-01 |
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Legal Form : |
Sole Ownership |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of fabrics, textiles, grains, plastics, machines, 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 |
|
|
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 – 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
CHINALINK INDUSTRY
(Operated by ASIATIC TRADE LTD.)
ADDRESS: c/o Louis Lai Co.
Secretarial Services Ltd.
9/F., Surson Commercial
Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2314 3668
FAX: 2199 7822, 2314 3113,
3020 1944
E-MAIL: gaurav@kataruka.com
Manager: Mr. Kishorilal Jhabarmal
Kataruka
Establishment: 2nd
August, 2006.
Organization: Sole
Ownership.
Capital:
Not
disclosed.
Business Category: Fabric Trader.
Employees:
Nil.
Main Dealing Banker: Bank of India, Hong Kong Branch.
Banking Relation: Satisfactory.
Head Office:-
c/o Louis Lai Co. Secretarial Services Ltd.
9/F., Surson Commercial Building, 140-142 Austin Road, Tsimshatsui,
Kowloon, Hong Kong.
Parent Company:-
Asiatic Trade Ltd., Hong Kong.
(See attachment)
Associated Companies:
Sincere Corporation, South Korea.
Sincere Impex, China.
Sincere Impex, Hong Kong.
Strata Exim Pvt. Ltd., India.
34244715-001-01
Manager: Mr. Kishorilal Jhabarmal
Kataruka
Asiatic Trade Ltd., Hong Kong.
The subject was established on 2nd August, 2006 as a sole ownership firm
with Asiatic Trade Ltd. as the proprietor under the Hong Kong Business
Registration Regulations.
At the very beginning, the subject was located at 9/F., Surson Comercial
Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong where is the
operating office of Louis Lai Co. Secretarial Services Ltd., moved to 1/F., Xiu
Ping Commercial Building, 104 Jervois Street, Sheung Wan, Hong Kong in February
2010, moved back to 9/F., Surson Comercial Building in March 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of fabrics, textiles, grains, plastics, machines, etc.
Employees: Nil.
Commodities Imported: Europe, South Korea, China, other Asian countries, etc.
Markets: India,
other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C,
T/T, etc.
Capital: Not
disclosed.
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Trying
to make use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Bank of India, Hong Kong Branch.
Indian Overseas Bank, Hong Kong Branch.
Standing:
Small.
Chinalink Industry is the business name of Asiatic Trade Ltd. [ATL]
which is a Hong Kong-registered firm.
ATL and the subject are engaged in the same lines of business.
Having issued 1,000 ordinary shares of HK$10.00 each, ATL is equally
owned by Kishorilal Jhabarmal Kataruka and Lata Kataruka, both of whom are India
passport holders. They are also
directors of ATL and currently residing in Seoul, South Korea.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at 9/F., Surson Commercial Building, 140‑142 Austin
Road, Tsimshatsui, Kowloon, Hong Kong known as Louis Lai Co. Secretarial
Services Ltd. which is handling its correspondences and documents. Louis Lai Co. Secretarial Services Ltd. is
also the corporate secretary of ATL.
Your given phone number 852-2314 3668 and fax number 852-3020 1944
belong to Louis Lai Co. Secretarial Services Ltd.
The registered address of ATL is located at a different address. It is located at 1/F., Xiu Ping Commercial
Building, 104 Jervois Street, Sheung Wan, Hong Kong where is the operating
address of an accountant firm Fung & Pang C.P.A. Ltd.
The subject has no employees in Hong Kong. It is an exporter and importer of knitted
fabrics like poly spun, PU, coated fabrics, furnishing fabrics, cotton clips,
wipers, tricot brush, rayon knit, viscose, ramie, linen, etc. Prime market is India.
The subject has had associated companies in South Korea, China and
India. Besides, fabrics and textiles,
the subject’s associated companies are also trading in the following commodities:
grains, plastics, machines, etc.
The subject’s associated company in South Korea is also operated by the
Katarukas.
The subject’s suppliers came from the United States, the United Kingdom,
Canada, Japan, South Korea, Taiwan, China, other European countries, etc.
The subject’s business in Hong Kong is not active.
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.
ASIATIC TRADE
LTD.
(Business name: CHINALINK
INDUSTRY)
ADDRESS: c/o Fung & Pang C.P.A.
Ltd.
1/F., Xiu Ping
Commercial Building, 104 Jervois Street, Sheung Wan, Hong Kong.
34244715-000-01
0881141
30th January, 2004.
Nominal Share Capital: HK$10,000.00 (Divided into 1,000 shares of
HK$10.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 30-01-2012)
|
Name |
|
No. of shares |
|
Kishorilal Jhabarmal KATARUKA |
|
500 |
|
Lata KATARUKA |
|
500 |
|
|
|
––––– |
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Total: |
1,000 ==== |
(As per registry dated 30-01-2012)
|
Name (Nationality) |
Address |
|
Kishorilal Jhabarmal KATARUKA |
107 Dong 2302 Ho, LG Han Gang Zai Apartment 430, I Chon-Dong, Youn
San-Ku, Seoul, Korea. |
|
Lata KATARUKA |
107 Dong 2302 Ho, LG Han Gang Zai Apartment 430, I Chon-Dong, Youn
San-Ku, Seoul, Korea. |
(As per registry dated 30-01-2012)
|
Name |
Address |
Co. No. |
|
Louis Lai Co. Secretarial Services Ltd. |
9/F., Surson Commercial Building, 140-142 Austin Road, Tsimshatsui,
Kowloon, Hong Kong. |
0686503 |
Originally it was registered under the name of Potentia International Ltd.,
name changed to the present style on 22nd July 2009.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.64 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.07 |
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 |
|
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 |
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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.