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Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
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Name : |
TRICELL
(HK) TRADING LTD. |
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Formerly Known as: |
B & K
International Corporation Ltd |
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Registered Office : |
c/o H&C Business (HK) Ltd. Room 1003, 10/F., Hang Seng Mong Kok Building, 677 Nathan Road, Mongkok, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.10.2008 |
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Com. Reg. No.: |
39866281 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of paper, 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 |
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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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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 levies excise duties on only four commodities, namely: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% 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, and less than 2% in 2012. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in 2012. 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.
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Source : CIA |
TRICELL (HK) TRADING LTD.
c/o H&C Business (HK) Ltd.
Room 1003, 10/F., Hang Seng Mong Kok Building, 677 Nathan Road, Mongkok, Kowloon, Hong Kong.
PHONE: 2136 1626
FAX: 2668 1899
Managing Director: Mr. Kong Lingquan
Incorporated on: 6th October, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Paper trader.
Employees: Nil.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o H&C Business (HK) Ltd.
Room 1003, 10/F., Hang Seng Mong Kok Building, 677 Nathan Road, Mongkok, Kowloon, Hong Kong.
Associated
Company:-
Gold Huasheng Paper (Suzhou Industrial Park) Co. Ltd., China.
Affiliated
Companies:-
Sinar Mas Group of Companies
APP (Hong Kong) Ltd., Hong Kong.
APP International Trading (China) Ltd., British Virgin Islands.
APP Printing Pte. Ltd., Singapore.
Asia Paper (Shanghai) Co. Ltd., China.
Asia Pulp & Paper Co. Ltd., Indonesia.
China Union International Trading Ltd., Hong Kong.
Gold Daio (Suzhou Industrial Park) Hygiene Products Co. Ltd., China.
Gold East Paper (Jiangsu) Co. Ltd., China.
Gold East Trading (Hong Kong) Co. Ltd., Hong Kong.
Gold Hai Paper Products (Kun Shan) Co. Ltd., China.
Gold Hong Ye Paper (Suzhou Industrial Park) Co. Ltd., China.
Guangxi Jingui Pulp & Paper Co. Ltd., China.
Hainan Jinhai Pulp & Paper Co. Ltd., China.
Jin Feng Yuan Paper Industry (Shanghai) Co. Ltd., China.
Jinxin (Qingyuan) Paper Industry Pte. Ltd., China.
Jinyu (Qingyuan) Tissue Paper Co. Ltd., China.
Lucky Ever Ltd., Hong Kong. [Compulsory winding up]
Ningbo Asia Paper Converting Co. Ltd., China.
Ningbo Asia Paper Tube & Carton Box Co. Ltd., China.
Ningbo Asia Pulp & Paper Co. Ltd., China.
Ningbo Asia Unpolluted Paper Products Co. Ltd., China.
Ningbo Zhonghua Paper Co. Ltd., China.
P.T. Smart Tbk., Indonesia.
Sinar Mas Paper (China) Investment Co. Ltd., China.
Sinar Mas Pulp & Paper (India) Ltd., India.
Top Harvest Asia Ltd., Hong Kong.
Xinyang Golden Sun Woodwork Co. Ltd., China.
Yalong Paper Products (Kun Shan) Co. Ltd., China.
Zhenjiang Dadong Pulp & Paper Co. Ltd., China.
etc.
39866281
1277741
Managing Director: Mr. Kong Lingquan
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 06-10-2012)
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Name |
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No. of shares |
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KONG Lingquan |
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10,000 ===== |
(As per registry
dated 06-10-2012)
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Name (Nationality) |
Address |
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KONG Lingquan |
Room 106, Unit 3, Block 40, Shengpu Lianghua Court, Suzhou Industrial Park, Suzhou City, Jiangsu Province, China. |
(As per registry
dated 01-01-2013)
|
Name |
Address |
Co.
No. |
|
H&C Business (HK) Ltd. |
Room 1003, 10/F., Hang Seng Mong Kok Building, 677 Nathan Road, Mongkok, Kowloon, Hong Kong. |
1441560 |
The subject was incorporated on 6th October, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of B & K International Corporation Ltd., name changed to the present style on 22nd February, 2013.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter.
Lines: All kinds of paper, etc.
Employees: Nil.
Commodities Imported: China, Southeast Asia, etc.
Markets: Hong Kong, Macau, China, other Asian countries, etc.
Terms/Sales: COD or 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$10,000.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Making fairly 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: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Tricell (HK) Trading Ltd. is wholly owned by Kong Lingquan who is a China merchant. He is a China ID holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room 1003, 10/F., Hang Seng Mong Kok Building, 677 Nathan Road, Mongkok, Kowloon, Hong Kong” known as “H&C Business (HK) Ltd.” which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
The subject has had an associated company in China known as Gold Huasheng Paper (Suzhou Industrial Park) Co. Ltd. [GHS] which is a China‑based firm.
GHS established in May 1996 is a US$1.4 billion investment by Asia Pulp and Paper [APP], making it one of the largest paper mill in China. Occupying 260 hectares in China and Singapore’s joint venture industrial park, GHS has more than 3,000 people. GHS also claims having a privately owned coal power plant, making the mill self sufficient and also a private harbour area for raw materials transportation. GHS’ production capacity is about 1 million MT. GHS’s products include carbonless paper, office paper, uncoated and coated wood free which all have achieved international standards.
Over the past 10 years, GHS has already become one of the centres of Asia’s paper industry and the largest paper mill with the widest range of paper products in China.
GHS in July 2000 obtained ISO9001 quality management certification and also has got ISO14001 certification.
Under the guidance of APP Group, GHS using its advanced paper making facility excellent personnel and strong supporting business channels has been making significant contributions to both the country as well as achieving international recognition worldwide.
APP is a vertically
integrated group of seven pulp and paper companies (some of which having more
than one mill location) inside Indonesia:-
· P.T. Ekamas Fortuna
· P.T. Indah Kiat Pulp & Paper Tbk.
· P.T. Lontar Papyrus Pulp & Paper Industry
· P.T. Pabrik Kertas Tjiwi Kimia Tbk.
· P.T. Pindo Deli Pulp & Paper Mills
· P.T. Purinusa Ekapersada [PTPE]
· P.T. The Univenus
APP is one of the world’s leading pulp and paper companies and is ranked one of the largest vertically integrated pulp and paper producer in Asia, excluding Japan.
Its combined pulp, paper and packaging capacities in Indonesia amount to over 7 million tonnes, using fibre from plantations and wood residues of plantation development. APP currently has its principal operations located in Indonesia, and markets its products to more than 65 countries on six continents.
The subject’s business in Hong Kong is not active. History in Hong Kong is over four years.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.29 |
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UK Pound |
1 |
Rs.83.88 |
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Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.