|
Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
HONG KONG LITONG INTERNATIONAL HOLDINGS (GROUP) LTD. |
|
|
|
|
Registered Office : |
Flat 708, 7/F., Shatian Galleria, 18-24 Shan Wei Street, Fotan,
New Territories |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
30.04.2003 |
|
|
|
|
Com. Reg. No.: |
33601283 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Aluminium panels, foil strips |
|
|
|
|
No. of Employees : |
6 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
HONG KONG LITONG
INTERNATIONAL HOLDINGS (GROUP) LTD.
Flat 708, 7/F., Shatian Galleria, 18-24 Shan Wei Street, Fotan,
New Territories, Hong Kong.
PHONE: 852-3105 9918
FAX: 852-3105 0968
E-MAIL: info@hklitong.com
Managing Director: Mr. Huang Shaobo
Incorporated on: 30th April, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$18,000,000.00
Issued: HK$18,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: Bank of
China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONG KONG LITONG
INTERNATIONAL HOLDINGS (GROUP) LTD.
Registered Head
Office:-
Flat 708, 7/F., Shatian Galleria, 18-24 Shan Wei Street, Fotan,
New Territories, Hong Kong.
Associated
Companies:-
Decorataions S.L., Spain.
Foshan Shunde Litong Oster Building Material Co. Ltd., China.
Foshan Shunde Litong Star Machinery Co. Ltd., China.
Laizhou Litong Yagedi Plate Co. Ltd., China.
Litong Aluminium Industry (Guangdong) Co. Ltd., China.
Litong Aluminium Industry (Henan) Co. Ltd., China.
Litong Aluminium Industry (Qinghai) Co. Ltd., China.
Litong Aluminium Industry (Shandong) Co. Ltd., China.
Litong Aluminium Industry (Shanghai) Co. Ltd., China.
Litong Aluminium Industry (Wuxi) Co. Ltd., China.
Litong Chemicals (Foshan) Co. Ltd., China.
Litong Chemicals (shandong) Co. Ltd., China.
Litong Chemicals (Wuxi) Co. Ltd., China.
Litong Decoration Articles (Shanghai) Co. Ltd., China.
Litong Enviromental Equipment (Shanghai) Co. Ltd., China.
Litong Industrial (Hong Kong) Co. Ltd., Hong Kong. (Same address)
Litong Machinery (Shanghai) Co. Ltd., China.
Mudanjiang Litong Wooden Co. Ltd., China.
Mulk Litong Ltd. Liability, U.A.E.
Shenzhen Litong United Imp. & Exp. Co. Ltd., China.
Zhangjiang Liyu Chemicals (Wuxi) Co. Ltd., China.
33601283
0846340
Managing Director: Mr. Huang Shaobo
Nominal Share Capital: HK$18,000,000.00
(Divided into 18,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$18,000,000.00
(As per registry dated 30-04-2013)
|
Name |
|
No. of shares |
|
HUANG Shaobo |
|
17,999,999 |
|
HUANG Guoqing |
|
1 |
|
|
|
––––––––– |
|
|
Total: |
18,000,000 ======== |
(As per registry dated 30-04-2013)
|
Name (Nationality) |
Address |
|
POON Lai Hing |
Flat 6, 3/F., Ming Hoi House, Ming Nga Court, 7 On Po Lane, Tai Po,
New Territories, Hong Kong. |
|
HUANG Shaobo |
Flat 15, Fujing Road, Yijing Garden, Aiguo Road, Luohu District,
Shenzhen, China. |
(As per registry dated 30-04-2013)
|
Name |
Address |
Co. No. |
|
Best System Management & Secretary Services Ltd. |
Room 406A, 4/F., Arion Commercial Centre, 2-12 Queen’s Road West,
Sheung Wan, Hong Kong. |
0311412 |
The subject was incorporated on 30th April, 2003 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: Aluminium panels, foil strips.
Employees: 6.
Commodities Imported: China, etc.
Markets: China, other Asian countries,
Europe, North America, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$18,000,000.00
(Divided into 18,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$18,000,000.00
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 18 million ordinary shares of HK$1.00 each, Hong Kong
Litong International Holdings (Group) Ltd. is almost wholly owned by Huang
Shaobo who is a China merchant. The
directors of the subject are Huang Shaobo and Ms. Poon Lai Hing. The latter is a Hong Kong businesswoman.
The subject is trading in aluminium materials. It is a large-scale diversified enterprise by
integrating industry, trading, investment, importation and exportation.
The subject has made investments in setting up 16 enterprises both in
Hong Kong and mainland China.
Its production activities cover processing, coating and anodic oxidation
of industrial aluminium plates and foil strips, coating and anodic oxidation of
aluminium alloy shutters, coating of aluminium screen wallboards, plastic‑plastic
composite panels and aluminium ceiling panels, manufacturing of professional
coating machinery, scroll aluminium anodic oxidation machinery, plastic-plastic
composite machinery, and shutter moulding machinery, manufacturing of
industrial hardware coatings, civil architecture coating products, resins and
pre-treatment chemical agents, and manufacturing of aluminium wood shutters and
wood home decoration products.
The subject has five offices respectively in Moscow, Vancouver,
Valencia, Dubai and Bombay of India, 18 production enterprises in Shanghai,
Guangzhou, Jiangsu, Shandong, Henan and Heilongjiang and two joint ventures
abroad.
It has invested successively for building 4 industrial parks, namely,
Litong (South China) Industrial Park, Litong (East China) Industrial Park,
Litong (Linyi) Industrial Park, Litong (Mudanjiang) Industrial Park.
The subject has been devoted to the development of Chinese alum colour
coating-coating processing industry, promoting the development of the
collectivisation aluminium processing industry, colour aluminium hull coating
industry, machinery building industry and curtain industry.
All its subsidiaries have got passed the certification of ISO9001
Quality Management System and part of its subsidiaries have got the
certification of ISO14000 Environmental Protection System.
According to the subject, the subject has established good cooperative
relations with over 200 leading enterprises in China, and nearly one hundred
merchants in more than 60 countries and areas.
Business has been expanding as the demand of aluminium raw materials
increases in China.
The annual sales turnover of the subject is very significant.
The contact person of the subject in Hong Kong is Ms. Poon Lai Hing.
As the history of the subject is over ten 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.61.51 |
|
|
1 |
Rs.94.98 |
|
Euro |
1 |
Rs.81.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.