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Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
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Name : |
FULLVIEW
CORPORATION LTD. |
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Registered Office : |
Room 806, 8/F., Delta House, 3 On Yiu Street, Shatin, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.11.2006 |
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Com. Reg. No.: |
33457353 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Computer peripherals, accessories, electronic gadgets, electrical parts and accessories, bags |
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No. of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 |
A1 |
A1 |
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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 |
FULLVIEW CORPORATION LTD.
Room 806, 8/F., Delta House, 3 On Yiu Street, Shatin, New Territories, Hong Kong.
PHONE: 852-2156 3218, 2156 3219
FAX: 852-2156 9383
E-MAIL: richard@huabogroup.com
Managing Director: Ms. Lee Yuk Chung, Christina
Incorporated on: 30th November, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employee: 1.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 806, 8/F., Delta House, 3 On Yiu Street, Shatin, New Territories, Hong Kong.
Associated
Company:-
Hua Bo Group Ltd., Hong Kong. (Same address)
33457353
1091715
Managing Director: Ms. Lee Yuk Chung, Christina
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 30-11-2012)
|
Name |
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No.
of shares |
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WAN Shun
Woon Peter |
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5,000 |
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LEE Yuk Chung, Christina |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry
dated 30-11-2012)
|
Name (Nationality) |
Address |
|
LEE Yuk Chung,
Christina |
Room 806, 8/F., Delta House, 3
On Yiu Street, Shatin, New Territories, Hong Kong. |
|
WAN Shun Woon,
Peter |
Room 806, 8/F., Delta House, 3
On Yiu Street, Shatin, New Territories, Hong Kong. |
(As per registry
dated 30-11-2012)
|
Name |
Address |
Co.
No. |
|
Pearlful Ltd. |
Room 501, 5/F., Royal Commercial Centre, 56 Parkes
Street, Jordan, Kowloon, Hong Kong. |
0320524 |
The subject was incorporated on 30th November, 2006 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: Computer peripherals, accessories, electronic gadgets, electrical parts and accessories,
bags
Employee: 1.
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: 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$10,000.00
Profit or Loss: Made very small profits in the past three years.
Condition: Keeping in a normal manner.
Facilities: Making rather 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 10,000 ordinary shares of HK$1.00 each, Fullview Corporation Ltd. is equally owned by Ms. Lee Yuk Chung, Christina, and Mr. Wan Shun Woon, Peter, both of whom are Hong Kong merchants. They are also directors of the subject. Wan and Lee seem to be a couple.
The subject’s registered address is in a private building located at Room 806, 8/F., Delta House, 3 On Yiu Street, Shatin, New Territories, Hong Kong. This is the residence of the two shareholders.
The residential building is not trespassed by outsiders. The subject has just one employee who seems to be a family member of the couple.
The subject is
trading in the following commodities:-
Computer peripherals, accessories, electronic gadgets, electrical parts and accessories.
Most of the commodities are sourced from China, the other Asian countries, etc. Prime markets are Asian countries, the Middle East, Europe, North America, Central & South America, etc.
The subject has its own associated factories in China.
Besides, the subject has had an associated company Hua Bo Group Ltd. [Hua Bo] located at the same address. Hua Bo is also owned and operated by Lee and Wan.
Founded in the 1990’s, Hua Bo has been manufacturing and supplying OEMs with standard and custom components, parts, and assemblies from its three factories in Ningbo City, Zhejiang Province, China.
Hua Bo is specialized in manufacturing various kind of bags and accessories with felt, synthetic coated and natural fabrics to meet customer’s specification for Lawn and Garden Industry.
Hua Bo has supplied millions of Blower Vacuum Bags, Lawn Vacuum Bags, Grass Bags, Frame assembly for grass bag, small engine mufflers assembly and other accessories to many leading manufacturers of Home Appliance, Lawn and gardening machinery and Power Tools in the United States and Europe.
Hua Bo is trading in
the following commodities:-
Small Metal Parts (Stamping part, OEM), Garden Tools (Metal & textile accessory for lawn & garden industry, OEM), Ball Bearing (OEM), Electrical Parts & Accessories [Electrical insulation materials (tapes mica)], Wire & Cable -- Electrical (Resistance wire), Packaging Materials -- Misc (Grass bag with metal frame, blister vacuum bag, OEM).
The subject also trades in the commodities of Hua Bo.
Incorporated on 2nd October, 2002, Hua Bo is also a small trading company.
The history of the subject in Hong Kong is just over six years.
Since the registered office of the subject is in a residential building, on the whole, consider it good for normal business engagements on L/C basis or in very small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.67 |
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UK Pound |
1 |
Rs.102.20 |
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Euro |
1 |
Rs.87.75 |
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 |
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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.