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Report Date : |
12.04.2013 |
IDENTIFICATION DETAILS
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Name : |
CROWN BASE INTERNATIONAL TRADING LTD. |
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Registered Office : |
Unit B03, 9/F., Dragon Industrial Building, 93 King Lam Street, Cheung Sha Wan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.04.2008. |
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Com. Reg. No.: |
39239589 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of all kinds of dyed fabrics, etc. |
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No. of Employees : |
4 |
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 |
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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
CROWN BASE INTERNATIONAL TRADING
LTD.
ADDRESS: Unit B03, 9/F., Dragon
Industrial Building, 93 King Lam Street, Cheung Sha Wan, Kowloon, Hong Kong.
PHONE: 3590 5230
FAX: 3590
3550
Managing Director: Ms. Jin
Xianhua
Incorporated on: 8th
April, 2008.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Fabric Trader.
Employees: 4.
Main Dealing Banker: HBZ Finance Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Unit B03, 9/F., Dragon Industrial Building, 93 King Lam Street, Cheung
Sha Wan, Kowloon, Hong Kong.
39239589
1224738
Managing Director: Ms. Jin
Xianhua
Contact Person: Mr. Wong
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 08-04-2012)
|
Name |
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No. of share |
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JIN Xianhua |
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1 = |
(As per registry dated 08-04-2012)
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Name (Nationality) |
Address |
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JIN Xianhua |
Room H, 31/F., Phase 1, Tung Chung Crescent, Lantau Island, New
Territories, Hong Kong. |
(As per registry dated 08-04-2012)
|
Name |
Address |
Co. No. |
|
William Secretarial Services Ltd. |
Room 1601, 16/F., Bright Way Tower, 33 Mong Kok Road, Kowloon,
Hong Kong. |
0892790 |
The subject was incorporated on 8th April, 2008 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: Fabric
Trader.
Lines: All
kinds of dyed fabrics, etc.
Employees: 4.
Commodities Imported: China, etc.
Markets: India,
other Asian countries, etc.
Terms/Sales:
L/C, etc.
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$1.00
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:
HBZ Finance
Ltd., Hong Kong.
Standing:
Normal.
Having issued just one ordinary share of HK$1.00, Crown Base
International Trading Ltd. is wholly owned by Ms. Jin Xianhua who is a China
businesswoman. She is a Hong Kong ID
Card holder and has got the right to reside in Hong Kong permanently. She is also the only director of the
subject. Currently Jin is residing in
Hong Kong.
The subject is a dyed fabric trader.
It can be reached at your given phone number 3590 5230.
The subject’s contact person is a Mr. Wong who is a Hong Kong
merchant. Aged 74, Wong has been engaged
in the line of business for about 40 years.
The subject has had associated factories in Southern China. It can provides its foreign customers with
all kinds of dyed fabrics. Colours can
be dyed according to the requirement of its customers.
According to Wong, the subject is the first time to deal with Indian
merchants. He requests his business partner
to open an L/C in all transactions.
As the history of the subject is over five years in Hong Kong, on the
whole, consider it good for normal business engagements in moderate credit
amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.53 |
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|
1 |
Rs.83.59 |
|
Euro |
1 |
Rs.71.33 |
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.