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Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
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Name : |
EXCELLENT COLLECTIONS LIMITED |
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Registered Office : |
Room 1602-03, 16/F, 88 Kwai Cheong Road, Kwai Chung, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.11.2008 |
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Com. Reg. No.: |
1290287 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Agents involved in the sale of a variety of goods |
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No. of Employees : |
3 to 9 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Hong Kong |
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
ALL FIGURES QUOTED IN LOCAL CURRENCY UNLESS
OTHERWISE STATED
OVERVIEW
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SUMMARY
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CORPORATE STRUCTURE
The following
statutory information is based on the examination of Subject's file at the Companies'
Registry (CR), Hong Kong. (For Listed
Company, only Substantial Shareholders ("SS") are listed, as based
on the latest available annual or interim reports. It is noted that some of
the shares held (including long, short and other positions) might have been
duplicated due to capacities of "Beneficial owner", "Interest
of controlled corporation", "Interest of spouse", "Family
interest", etc., which mean the total number of shares held by SS may
exceed the authorized and/or issued shares. Duplicate holding (if any) will
be elaborated under the "Notes to Substantial Shareholders" on the
Structure Remark section.)
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HISTORY SUMMARY
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Change of Ownership & Capital/ Share Allotment/Other Changes |
No significant change in business and ownership have been reported
since its inception. |
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Appointment and/or Resignation of Directors or Secretary |
N/A |
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Admission or Retirement of Sole Proprietor/Partner |
N/A |
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Parent |
N/A |
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RELATED NEWS /FINDINGS N/A |
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MANAGEMENT BACKGROUND
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FINANCIAL
Current Interviews & Investigations Its shareholders and directors were not
available for interview during the report compilation. |
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Private companies in Hong Kong (include private limited, sole
proprietorship and partnership) are not required to file or disclose their
financial information for public inspection. |
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GROUP PROFILE & FINANCIALS N/A |
BANKING
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TRADE RECORD
A trade survey
currently conducted reveals the following:
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TOTAL DEBT SCANNER (TDS) TDS reveals if
subject has been listed as debtor in our debt database in the past 5 years
and that is subject to the "Code of Practice on Consumer Credit
Data" issued by Office of the Privacy Commissioner for Personal
Data, Hong Kong. Accounts are sometimes placed for collection even though the
existence or amount of the debt is disputed. It should be noted that the
collection record contained in the report might have been paid, terminated,
vacated, settled or released prior to the date of report compiled. Search Result:
None found in
our database
None found in
our database
None found in
our database |
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PUBLIC FILINGS Mortgages and Charges (M&C) M&C, if any,
are extracted from the Companies Registry, Hong Kong ("CRHK").
Details of "Creating Instrument" and "Description of Property
Mortgaged or Charged" are available subject to the prevailing fees as
per document charged by CRHK. Please indicate/select "Full
Mortgage/Charge" when ordering our services/reports (e.g.: Total Limited
Company Search or Total Company Credit Report). Request for Full
mortgage/Charge made 7 days after the report delivery will be treated as a
new order and is subject to our "Official Document Retrieval (ODR)"
service charge + related government fees. M&C brief particulars may not
be available from CRHK for mortgage/charge registered before 28 Feb 2005.
Total Amount
outstanding as of the date of this Return on all mortgages and charges which
are required to be registered with the Registrar of Companies pursuant to
sections 80 and 82 of the Companies Ordinance: Not Stated |
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TOTAL WRIT SCANNER (TWS) TWS reveals if subject
has been listed as Defendant/Debtor/Respondent, Plaintiff/Creditor/Applicant,
in liquidation or bankruptcy within our court database in the past 7 years
and that is subject to the "Code of Practice on Consumer Credit
Data" issued by Office of the Privacy Commissioner for Personal
Data, Hong Kong. It should be noted that the court record contained in a
report might have been paid, terminated, vacated, settled or released prior
to the date of a report was compiled. Civil claims are filed as the result of
disputes of a commercial or other nature. The Defendant/Debtor/Respondent is
not liable nor the Plaintiff/Creditor/Applicant eligible to the claim until
judgement is obtained from the relevant court, which is not open for public
inspection at present. Only the latest 50 records will be shown when total
records exceed 50. Search Result: Subject As Defendant
As Plaintiff None found in
our database Comments
Related Members As Defendant None found in
our database Comments
Related
Companies As Defendant
Comments
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OPERATION & ACTIVITIES
Business Lines
Product/Production
Supplies/Purchases
Markets
Brands
Premises and Staff
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TOTAL PROPERTY OWNERSHIP SEARCH (TPOS) TPOS reveals if
subject has been involved in property transaction record in our database
since 1996. TPOS does not represent the full record or history of all
transactions relating to the registered charges, mortgages or ownerships.
Some of the charges, mortgages or ownerships might have been released and/or
changed. There could be latest mortgages, charges, ownerships or transactions
not reflected. TPOS also checks on Subject's shareholder, director,
sole proprietor, partner (collectively listed under "Related
Members" in this section) and/or related company while related
records will be revealed when appropriate. Search Result:
No Trace
No Trace
No Trace
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RELATED COMPANIES Related companies
mean Parent Company, Subsidiary Company, Director's Other Business/Capacity,
etc.
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ECONOMIC AND TRADE
INFORMATION ON HONG KONG
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2009 |
2010 |
2011 |
Forecast/Latest |
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Population,
Mid-year (million) |
6.97 |
7.02 |
7.07 |
7.14a |
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Gross Domestic
Product (US$billion) |
208.0 |
223.3 |
243.2 |
250.5-252.9b |
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GDP Per Capita
(US$) |
29,800 |
31,800 |
34,400 |
35,100-35,400b |
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Real GDP Growth
(%) |
-2.6 |
+7.1 |
+5.0 |
+1-2b |
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Inflation (%
Change in Composite CPI) |
+0.5 |
+2.4 |
+5.3 |
+4.7c |
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Unemployment
Rate, seasonally adjusted (%) |
5.4 |
4.4 |
3.4 |
3.2d |
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Retail Sales
Growth (%) |
+0.6 |
+18.3 |
+24.9 |
+13.1c |
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Visitor Arrival
Growth (%) |
+0.3 |
+21.8 |
+16.4 |
+15.5c |
a 2012; b government
forecast for 2012; c year-on-year change in January-June 2012; d
April-June 2012.
Merchandise Trade Performance
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2010 |
2011 |
January-June 2012 |
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US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
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Total Exports |
388.6 |
+22.8 |
427.9 |
+10.1 |
207.6 |
+0.3 |
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Domestic Exports |
8.9 |
+20.4 |
8.4 |
-5.5 |
3.6 |
-19.4 |
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Re-exports |
379.7 |
+22.8 |
419.8 |
+10.5 |
204.0 |
+0.7 |
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Imports |
431.4 |
+25.0 |
482.6 |
+11.9 |
236.0 |
+1.4 |
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Total Trade |
820.0 |
+23.9 |
910.5 |
+11.0 |
443.6 |
+0.9 |
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Trade Balance |
-42.8 |
N/A |
-54.8 |
N/A |
-28.4 |
N/A |
Service Trade Performance
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2010 |
2011 |
January-June 2012 |
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US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
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Exports |
105.7 |
+23.1 |
121.2 |
+14.6 |
60.2 |
+7.6 |
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Imports |
50.8 |
+16.3 |
55.8 |
+9.8 |
27.4 |
+3.7 |
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Total Trade |
156.5 |
+20.8 |
177.0 |
+13.1 |
87.6 |
+6.4 |
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Trade Balance |
54.9 |
N/A |
64.9 |
N/A |
32.8 |
N/A |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.62 |
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1 |
Rs.83.69 |
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Euro |
1 |
Rs.71.41 |
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.