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Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
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Name : |
CRYSTAL TEAM LTD. |
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Registered Office : |
Unit 1009, 10/F., Fu Hang Industrial Building, 1 Hok Yuen East Street, Hung Hom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.04.1996 |
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Com. Reg. No.: |
19842366 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Manufacturer of all kinds of packaging boxes, etc. |
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No. of Employees : |
3 |
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 : |
No Complaints |
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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
CRYSTAL TEAM
LTD.
ADDRESS: Unit 1009, 10/F., Fu Hang Industrial
Building, 1 Hok Yuen East Street, Hung Hom, Kowloon, Hong Kong.
PHONE: 2766 3809
FAX: 2311 0820
E-MAIL: info@waldorf.hk
Managing Director: Mr. Walter
Bonanno
Incorporated on: 11th
April, 1996.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees:
3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Unit 1009, 10/F., Fu Hang Industrial Building, 1 Hok Yuen East Street,
Hung Hom, Kowloon, Hong Kong.
Associated Company:-
Waldorf Ltd., Hong Kong. (same
address)
19842366
0544326
Managing Director: Mr. Walter
Bonanno
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 11-04-2012)
|
Name |
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No. of shares |
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Walter BONANNO |
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10,000 ===== |
(As per registry dated 10-09-2012)
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Name (Nationality) |
Address |
|
Walter BONANNO |
Flat B, 9/F., Elegant Garden, 11 Coduit Road, Mid‑Levels, Hong
Kong. |
|
Jeffrey Walter HESELWOOD [Reserve Director] |
Flat A, 7/F., Greenmont Court, Greenvale Village, Discovery Bay, Hong
Kong. |
(As per registry dated 11-04-2012)
|
Name |
Address |
Co. No. |
|
TMF Secretarial Services Ltd. |
36/F., Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong
Kong. |
0776802 |
The subject was incorporated on 11th April, 1996 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,
Exporter and Manufacturer.
Lines: All
kinds of packaging boxes, etc.
Employees: 3.
Commodities Imported: China, other Asian countries, etc.
Markets: Hong
Kong, other Asian countries, Japan, South Korea, Europe, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: As
per contracted.
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: 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:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Crystal Team Ltd.
is wholly owned by Walter Bonanno. He is
a Hong Kong ID Card holder and has got the right to reside in Hong Kong
permanently. He is also the only
director of the subject.
Informally, the subject is also known as Crystal Team Ltd. --- Fenice
Asia Distribution Centre. The subject
has had an associated company Waldorf Ltd. [Waldorf], a Hong Kong-registered
firm located at its operating address.
The subject and Waldorf are engaged in the same lines of business and
under the control of Walter Bonanno.
Waldorf was incorporated on 12th January, 1993.
The subject is trading in all kinds of packing materials. Its products includes boxes for jewellery
packaging, shoes packaging, ornaments packaging, fragrance packaging, etc.
The subject has had associated factories in Southern China. Most of the products are manufactured in OEM
terms. Prime markets are Hong Kong,
Japan, South Korea, India, other Asian countries, Europe, etc.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Hong Kong and other foreign large
cities. For instance, it always takes
part in China Exhibitions. In 2010, it
took part in Shoes-Leather Guangzhou 2010.
Chiefly handled by Walter Bonanno, the subject’s business is profitable.
As the history of the subject is about seventeen years in Hong Kong, on
the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.46 |
|
|
1 |
Rs.83.13 |
|
Euro |
1 |
Rs.70.98 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
|
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 |
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<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.