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Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
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Name : |
ALLIGATOR HONG KONG LTD. |
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Registered Office : |
C/o Sinova Corporate Services Ltd. Room 3603-3606, 36/F., Windsor House, 311 Gloucester Road, Causeway Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.03.2007. |
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Com. Reg. No.: |
37717199 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Valves, couplings and nozzles, fire fighting equipment, fire hoses, hoses, packing and jointing products, marine sanitary products, rubber products, acrylic and gauge glass, door and hatch cover packing products, etc. |
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No. of Employees : |
No Employee in
Hong Kong (It is to be
noted that the company does not have its own operating office in Hong Kong.
The company uses the address of its secretariat as its correspondence address
only. Subject operates from some other country and does not have a base in
Hong Kong. Such companies are registered in Hong Kong just to tax benefit
purpose and due to the strict privacy laws prevailing in the country. In such
cases, the companies are not required to have any employees in Hong Kong nor
do have an office there.) |
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
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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.
Source
: CIA
ALLIGATOR HONG
KONG LTD.
ADDRESS: c/o Sinova Corporate
Services Ltd.
Room 3603-3606,
36/F., Windsor House, 311 Gloucester Road, Causeway Bay, Hong Kong.
PHONE: 852-2861 1120
FAX: 852-2861 3327
General Manager: Mr. E. Ruberg
Incorporated on: 7th March, 2007.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Sinova Corporate Services Ltd.
Room 3603-3606, 36/F., Windsor House, 311 Gloucester Road, Causeway Bay,
Hong Kong.
Holding Companies:-
E. Ruberg Holding B.V., the Netherlands.
Stichting Particulier Fonds Farmhouse, Netherlands Antilles.
Associated Companies:-
AAH Alligator B.V., the Netherlands.
Alligator China Co. Ltd., China.
Alligator Singapore Pte. Ltd., Singapore.
Marine Store Wholesale Corp., US.
37717199
1113527
General Manager: Mr. E. Ruberg
Nominal Share Capital: HK$10,000.00 (Divided
into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
(As per registry dated 07-03-2013)
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Name |
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No. of shares |
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E. Ruberg Holding B.V. Opperduit 452, 2941 AT, Lekkerkerk, The Netherlands. |
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49 |
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Stichting Particulier Fonds Farmhouse Berg Arrarat 1, Curacao, Netherlands Antilles. |
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51 |
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––– |
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Total: |
100 === |
(As per registry dated 07-03-2013)
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Name (Nationality) |
Address |
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Well Channel Ltd. |
Room 3603-3606, 36/F., Windsor House, 311 Gloucester Road, Causeway
Bay, Hong Kong. |
(As per registry dated 07-03-2013)
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Name |
Address |
Co. No. |
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Sinova corporate Services Ltd. |
Room 3603-3606, 36/F., Windsor House, 311 Gloucester Road,
Causeway Bay, Hong Kong. |
1123369 |
The subject was incorporated on 7th March, 2007 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 Wholesaler.
Lines: Valves,
couplings and nozzles, fire fighting equipment, fire hoses, hoses, packing and
jointing products, marine sanitary products, rubber products, acrylic and gauge
glass, door and hatch cover packing products.
Employees: Nil.
Commodities Imported: China, other Asian countries, Europe, etc.
Markets: Europe, Asian countries, US, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100.00
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: Unknown
.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
Alligator Hong Kong Ltd. was incorporated on 7th March, 2007 as a
private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 3603-3606, 36/F., Windsor House, 311
Gloucester Road, Causeway Bay, Hong Kong” known as “Sinova Corporate Services
Ltd.” which is handling its correspondences and documents. This firm is also the corporate secretary of
the subject. Sinova Corporate Services
Ltd. has had an associated company Well Channel Ltd., located at the same
address, which is the director of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
100 ordinary shares of HK$1.00 each of which 49% are owned by E. Ruberg Holding
B.V. [ERH], a Holland-registered firm, and 51% are owned by Stichting
Particulier Fonds Farmhouse [Stichting], also a Holland-based organization.
The subject is trading in the following products:-
Valves, couplings and nozzles, fire fighting equipment, fire hoses,
hoses, packing and jointing products, marine sanitary products, rubber
products, acrylic and gauge glass, door and hatch cover packing products, glass
fibre and insulation products, adhesives and sealing products, welding and
cutting equipment, etc.
The subject is a dynamic technical one stop wholesale company in
maritime, industrial and welding products.
It is established in the port area of Rotterdam of Holland and Shanghai
of China. The Holland firm is known as
AAH Alligator B.V. while the China firm is known as Alligator China Co. Ltd.
The subject sells more than 15,000 different articles comprises the well‑known
A-brands, supplemented with its own products.
The subject’s warehouses are in Rotterdam, Singapore, Shanghai and
Houston.
Stichting is a private foundation.
A foundation in the Netherlands (Stichting) which is a legal person
created through a legal act. This act is
usually either a notarised deed (or a will) that contains the articles of the
foundation which must include the first appointed board. No government authority is involved in the
creation or authorization of a foundation, it acquires full legal capacity
through its sole creation. A foundation
has no members and its purpose must be stated in its articles, using capital
dedicated to such goal. The foundations
are defined in the Dutch Civil Code (Burgerlijk Wetboek), Boek 2 Art 285‑304. It is not necessary in the Netherlands that a
foundation serves a purpose of general interest, but its official goal cannot
include making payments to anybody, except for charitable causes. The foundations are governed and represented
by a board that is responsible for its administration, this board has not a
requirement for specific number of members.
AAH Alligator B.V. is owned by ERH and the General Manager of ERH is E,
Ruberg who is a Dutch.
ERH is a ISO 9002 certified company and it is trading in the same
commodities as the subject.
Alligator China is in Pudong New Area, Shanghai, China. Most of its customers are engaged in the
maritime industry. The contact person of
Alligator China is Ms. Wei Xiaoxia, Celine who is a Chinese.
It is likely that the China or Holland firm deal with foreign parties
under the name of the subject and let foreign firms correspond with the
subject’s registered address in Hong Kong.
The Alligator firms also exports commodities to foreign markets under
the name of the subject and its registered address in Hong Kong.
The history of the subject in Hong Kong is just over six 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 L/C basis.
NOTE :
It is to be
noted that the company does not have its own operating office in Hong Kong. The
company uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong Kong.
Such companies are registered in Hong Kong just to tax benefit purpose and due
to the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.11 |
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1 |
Rs.92.97 |
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Euro |
1 |
Rs.80.95 |
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 |
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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.