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Report Date : |
07.08.2013 |
IDENTIFICATION DETAILS
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Name : |
TYWH CO. LTD. |
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Registered Office : |
C/o World Trade Enterprises Consultancy Ltd. Room 2105, 21/F., JTJ222, Trend Centre, |
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Country : |
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Date of Incorporation : |
24.03.2009. |
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Com. Reg. No.: |
50457267 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Chemicals, hardware, construction materials, textile products, garments, fabrics, furniture. |
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No. of Employees : |
No Employee in (It is to be noted
that the company does not have its own operating office in |
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.
Source
: CIA
TYWH
CO. LTD.
Address: c/o World Trade
Enterprises Consultancy Ltd.
Room 2105, 21/F.,
JTJ222, Trend Centre,
29-31
Cheung Lee Street,
Chaiwan,
Hong Kong.
(Formerly located at:
c/o World Trade Enterprises Consultancy Ltd.
Room 907, 9/F., JTJ222, Wing Tuck Commercial Centre,
177-183 Wing Lok Street, Sheung Wan,
Hong Kong. )
PHONE: 852-2115 3188
FAX: 852-2115 9613
Managing Director: Mr. Pan Lu
Incorporated on: 24th
March, 2009.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
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 World Trade Enterprises Consultancy Ltd.
Room 2105, 21/F., JTJ222, Trend Centre, 29-31 Cheung Lee Street,
Chaiwan, Hong Kong.
Associated Company:-
Tianjin TYWH Import & Export Co. Ltd.
Shuanggang, Jinnan District, Tianjin, China.
[Tel: 86-22-2854 6072 Fax:
86-22-2854 6075]
50457267
1322995
Managing Director: Mr. Pan Lu
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 24-03-2013)
|
Name |
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No. of share |
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PAN Lu |
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1 = |
(As per registry dated 24-03-2013)
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Name (Nationality) |
Address |
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PAN Lu |
Room 2105, 21/F., JTJ222, Trend Centre, 29-31 Cheung Lee Street,
Chaiwan, Hong Kong. |
(As per registry dated 24-03-2013)
|
Name |
Address |
Co. No. |
|
World Trade Enterprises Consultancy Ltd. |
Unit 1302, 13/F., Railway Plaza, 39 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong. |
1156560 |
The subject was incorporated on 24th March, 2009 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Room 907, 9/F.,
JTJ222, Wing Tuck Commercial Centre, 177-183 Wing Lok Street, Sheung Wan, Hong
Kong where was the operating address of a commercial service provider World
Trade Enterprises Consultancy Ltd. [WTEC].
WTEC moved to the present address in March 2011, so did the subject.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Chemicals,
hardware, construction materials, textile products, garments, fabrics,
furniture.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: China,
other Asian countries, Europe, North America, etc.
Terms/Sales:
L/C or as per
contracted.
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: 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:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
Having issued just one ordinary share of HK$1.00, TYWH Co. Ltd. is wholly
owned by Mr. Pan Lu 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. He is in China
currently.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 2105, 21/F., JTJ222, Trend Centre, 29‑31
Cheung Lee Street, Chaiwan, Hong Kong” known as “World Trade Enterprises
Consultancy Ltd.” [WTEC] which is handling its correspondences and
documents. WTEC is also the corporate
secretary of the subject. This company
has more than one office in Hong Kong.
The subject’s file number in WTEC is JTJ222. Your given phone and fax number 852-2115 3188
and 852-2115 9613 belong to WTEC.
The subject has no employees in Hong Kong. It has had an associated company Tianjin TYWH
Import & Export Co. Ltd. [Tianjin TYWH] which is in Tianjin, China.
Established in March 2007, Tianjin TYWH is an enterprise which
integrates industry and trade. Covering
a site area around 5,000 sq.m., it is located in Tianjin Bin Hai Area, Tianjin,
about 60 km away from Tianjin Port. It
is specialized in chemical products,
especially calcium carbide. Its
international markets are mainly in Asia, the Middle East and Africa.
Tianjin TYWH also trades in the other commodities such as hardware,
construction materials, textile products, garments, fabrics, furniture. Commodities are exported to South Korea,
Ukraine, Sweden, etc.
According to Tianjin TYWH, it is a manufacturer and international
trading company in China. Calcium
Carbide(CaC2) is its mainly export business and the sales performance is about
60% of its total amount of sales. It has
its own fabrication plant of calcium carbide and the monthly production capacity
is 4,000 to 6,000 tons. Generally the
gas yield is about 295L/ KG and the export size is 1-4 mm, 4-25 mm, 25-50 mm,
50-80 mm, 80-120 mm, also can be manufactured under the specifications of
customers. The package is new iron drum
which are 50-kg and 100-kg and generally the colour of drums are black, grey
and green.
The subject trades in the same products as Tianjin TYWH.
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 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.61.53 |
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|
1 |
Rs.94.37 |
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Euro |
1 |
Rs.81.58 |
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.