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Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
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Name : |
AVANT
SPORTS INDUSTRIAL CO.
LTD. |
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Registered Office : |
Room C, 6/F., Gee Wing Chang Industrial Building, 6 Fung Yip Street, Chai Wan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.04.2008 |
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Com. Reg. No.: |
39201176 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Sports Ground Materials & related product trader of all kinds of artificial turf, flooring, etc. |
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No. of Employees : |
05. (Including
associates) |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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.
|
Source : CIA |
AVANT SPORTS INDUSTRIAL CO. LTD.
Room C, 6/F., Gee Wing Chang Industrial Building, 6 Fung Yip Street, Chai Wan, Kowloon, Hong Kong.
PHONE: 2858 7519
FAX: 2965 8695
Managing Director: Mr. Zhou Yunxiang
Incorporated on: 22nd April, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$3.00
Business Category: Sports Ground Materials & related product trader.
Employees: 5. (Including associates)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room C, 6/F., Gee Wing Chang Industrial Building, 6 Fung Yip Street, Chai Wan, Kowloon, Hong Kong.
Affiliated/Associated
Companies:-
Greatmart Development Ltd., Hong Kong. (same address)
Shenzhen Avant Sports Field Managing and Administrating Consultant Co. Ltd., China.
Shenzhen Avant Sports Industrial Co. Ltd., China.
Shenzhen Avant Turf Co. Ltd., China.
North River Road, Sanhe
Economic Development Experimental Zone, Hujang District, Huizhou City,
Guangdong, China.
[Tel: 86-755-29686569 Fax:
86-755-29688489
Email: avanturf@avant.com.cn ]
39201176
1229775
Managing Director: Mr. Zhou Yunxiang
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$3.00
(As per registry dated
22-04-2013)
|
Name |
|
No. of shares |
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ZHOU Yun Xiang |
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2 |
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ZHOU Birong |
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1 |
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– |
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Total: |
3 = |
(As per registry
dated 22-04-2013)
|
Name (Nationality) |
Address |
|
ZHOU Birong |
Room C, 6/F., Gee Wing Chang Industrial Building, 6 Fung Yip Street, Chai Wan, Hong Kong. |
|
ZHOU Yun Xiang |
Room C, 6/F., Gee Wing Chang Industrial Building, 6 Fung Yip Street, Chai Wan, Hong Kong. |
ZHOU
Birong (As per registry dated 22-04-2013)
The subject was incorporated on 22nd 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: Sports Ground Materials & related product trader.
Lines: All kinds of artificial turf, flooring, etc.
Employees: 5. (Including associates)
Commodities Imported: Europe, North America, etc.
Markets: China, other Asian countries, etc.
Terms/Sales: 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$3.00
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: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued just three ordinary shares of HK$1.00 each, Avant Sports Industrial Co., Ltd. is jointly owned by Zhou Yun Xiang, holding 66.7% interests; Mr. Zhou Birong, holding 33.3%. Being China merchants, they are a China ID holders and do not have the right to reside in Hong Kong permanently. They are also directors of the subject.
The subject is trading in artificial turf, flooring for all kinds of sports. It has had the following three associated companies in China:-
· Shenzhen Avant Sports Field Managing and Administrating Consultant Co. Ltd. [SASFMAC], China.;
· Shenzhen Avant Sports Industrial Co. Ltd. [SASIC], China.; &
· Shenzhen Avant Turf Co. Ltd. [SATC], China.
SASIC has been engaged in the artificial turf industry since 1994, being one of the first companies involved in the production of artificial turf products.
It has conducted research and development and sales business in China as the most professional brand of artificial grass in China, it entered in 2003 cooperation with the leading Italian company Limonta.
Its modern production base in Guangdong, China, covers an area of more than 20,000 square meters and has been equipped with large-scale automatic turf machinery, all imported from Europe. Professional Italian engineers support plant production, and the technical personnel management and production process strictly adhere to the European quality systems.
Its annual output can reach more than 3 million square meters, with a worldwide annual output of 200 million square meters of high-quality artificial turf.
The factory has got the ISO9001 and ISO14001 certification. The products have been tested in the French Labosport, Netherlands ISA, the United States and the other international authoritative testing organizations such as SGS sports. All products are every kind of raw material through Italy limonta professional laboratory testing to ensure that every unit of product quality are up to the required standards.
Its factory is in Huizhou City, Guangdong Province, China. Its marketing centre is in Shenzhen SEZ. The Shenzhen firm has set up an experienced marketing team.
Founded in 1994, SASIC is the earliest professional manufacturer engaged in sports leisure industry in China. Since the establishment, it has always been cooperating with the world’s top sports facility brands closely, to provide the high-quality sports facilities for the large-scale professional stadiums, venues, and the sports grounds of all kinds of schools in China and the world.
The legal representative of SASIC is also Zhou Yunxiang
The subject shares the same office with Greatmart Development Ltd. [Greatmart] which is a Hong Kong-registered firm. Greatmart is the business partner of the subject.
As the history of the subject is over five 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.54.27 |
|
UK Pound |
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
---- |
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.