|
Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOP
PEARL LTD. |
|
|
|
|
Registered Office : |
c/o Lancashire Management Services Ltd. Room 801, 8/F., Luk Yu Building, 24-26 Stanley Street, Central |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
08.06.1990 |
|
|
|
|
Com. Reg. No.: |
13750741 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Distributor of fresh garlic, dehydrated garlic powder,
garlic flakes, garlic granules, fresh and frozen peeled garlic, garlic paste,
and decorative garlic braids |
|
|
|
|
No. of Employees : |
01 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office in Hong Kong |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
TOP PEARL LTD
c/o Lancashire Management Services Ltd.
Room 801, 8/F., Luk Yu Building, 24-26 Stanley Street, Central, Hong Kong.
PHONE: 852-2868 4877, 2282 6378
FAX: 852-2840 1990
Hong Kong Representative: Ms. Rosanna Chung
Incorporated on: 8th June, 1990.
Organization: Private Limited Company.
Capital: Nominal: HK$200,000.00
Issued: HK$200,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$40~45 million.
Employee: 1.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Fair.
Registered
Office:-
c/o Lancashire Management Services Ltd.
Room 801, 8/F., Luk Yu Building, 24-26 Stanley Street, Central, Hong Kong.
13750741
0279928
Hong Kong Representative: Ms. Rosanna Chung
Nominal Share Capital: HK$200,000.00 (Divided into 200,000 shares of HK$1.00 each)
Issued Share Capital: HK$200,000.00
(As per registry
dated 08-06-2013)
|
Name |
|
No.
of shares |
|
William B.
RUSCONI |
|
102,000 |
|
Marjorie Clarisse RUSCONI |
|
98,000 |
|
|
|
––––––– |
|
|
Total: |
200,000 ====== |
(As per registry
dated 08-06-2013)
|
Name (Nationality) |
Address |
|
William B.
RUSCONI |
105 Sea bright Avenue, Santa
Cruz, CA, USA. |
|
Evano Ltd. |
Room 801, 8/F., Luk Yu
Building, 24-26 Stanley Street, Central, Hong Kong. |
|
David W.
RUSCONI |
22029 N. 51 Street, Phoenix,
AZ, 85052, US. |
|
Shelli Mary
HERRED |
105 Seabright Ave, Santa Cruz,
CA 95062, US. |
(As per registry
dated 08-06-2013)
|
Name |
Address |
Co.
No. |
|
Lancashire Management Services Ltd. |
Room 801, 8/F., Luk Yu Building, 24-26 Stanley Street,
Central, Hong Kong. |
0341338 |
The subject was incorporated on 8th June, 1990 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: Chinese foodstuffs, seasoning
Employee: 1.
Commodities Imported: US, Taiwan, India, other Asian countries, etc.
Markets: China, etc.
Annual Turnover: HK$40~45 million.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$200,000.00 (Divided into 200,000 shares of HK$1.00 each)
Issued Share Capital: HK$200,000.00
Profit or Loss: Made a very small profit in the past years.
Condition: Business is fairly active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Unknown
Commercial Morality: Satisfactory.
Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Small.
Having issued 200,000 ordinary shares of HK$1.00 each, Top Pearl Ltd. is jointly owned by two US passport holders, namely, Mr. William B. Rusconi holding 51% interests; and Mr. Marjorie Clarisse Rusconi, holding 48%. Currently both are residing in the United States. The head office of the subject in Santa Cruz, CA of the United States [hereinafter is referred to Top Pearl]. William B. Rusconi is the Director Top Pearl while David W. Rusconi, one of the directors of the subject, is the World Sales Manager. Top Pearl belongs to the family of Rusconi.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 801, 8/F., Luk Yu Building, 24‑26 Stanley Street, Central, Hong Kong known as Lancashire Management Services Ltd. which is handling its correspondences and documents. Lancashire Management Services Ltd. is also the corporate secretary of the subject. Your given phone and fax number belong to this firm.
The subject has had a representative Ms. Rosanna Chung in Hong Kong. She can be reached at the phone number 852-2282 6378.
To our knowledge, the subject has had its main office [Top Pearl] in Shenzhen Special Economic Zone, also has had a liaison office in Jinxiang, China.
The contact person of the Shenzhen Office is Ms. Petra You who is the general manager of China.
The subject has
set up the following two divisions:-
· Agricultural Products Division;
Manufactured Goods Division.
Top Pearl is a worldwide distributor of fresh garlic, dehydrated garlic powder, garlic flakes, garlic granules, fresh and frozen peeled garlic, garlic paste, and decorative garlic braids. For garlic and garlic products, it is one of the largest suppliers in the world.
Top Pearl also distributes a variety of spices. Its chilli and ginger primarily come from those provinces of China such as Yunnan, Tianjin, Hebei, Shandong, and Henan. It can provide its customers with herbs, gingko, ginseng and beans such as kidney beans, broad beans as well as chilli.
Top Pearl is
trading in the following commodities:-
· Garlic fresh (Ajo fresco);
Dehydrated Garlic
powdered products (Productos enpolvados en Ajo deshidratado);
Dehydrated Garlic
Flakes (Ajo en ojuelas deshidratado);
Dehydrated
Granulated Garlic (Ajo granulado deshidratado);
Dehydrated Garlic
Powder (Ajo en polvo deshidratado);
Dehydrated White
and Yellow Onion powder (Cebolla blanca y amarilla en polvo deshidratada);
Ginger fresh and
dehy (Jengibre fresco deshidratado por peticion);
Yunnan Chilli
(Chilli Arbol);
Yunnan Chilli
flakes and Yunnan Chilli powder (40 or 60 mesh) (Chile yunnan en ojuelas y en
polvo (40 o 60 mallas);
Yidu Chilli (Chile
Yidu);
Yidu Chilli flakes
and Yidu Chilli powder (40 or 60 mesh) (Chile Yidu en ojuelas y en polvo (40 o
60 mallas);
Tientsin Chilli
(Chile Tientsin);
Tientsin Chilli
flakes and Tientsin chilli powder (40 or 60 mesh) (Chile Tientsin en ojuelas o
en polvo (40 o 60 mallas);
Tientsin Chilli
(Earlier harvested) Chile Tientsin (Temprana);
Bullet Chilli
(Chile Bullet);
Bullet Chilli
flakes and Bullet Chilli powder (40 or 60 mesh) (Chile Bullet en ojuelas o en
polvo (40 o 60 mallas);
Chaotian Round
Chilli (Chile redondo Chaotian);
Zhe Chilli (Chile
Zhe);
Paprika Chilli
(Chile Paprika);
American red Chilli
(Chile rojo americano);
American Red Chilli
flakes and American Red Chilli powder (40 or 60 mesh);
Chile rojo
americano en ojuelas o en polvo (40 o 60 mallas);
Chiles de la India,
S4, S17, S9;
Hibiscus (Jamaica);
Peanut in Shell
(washed) (Cacahuates en cascara (lavado) nueva cosecha);
Roasted Peanut in
Shell (Cacahuates en cascara rostisados);
Peanut Kernel
(Cacahuates Kernel);
Peanut Kernel
(Blanched) [Cacahuates Kernel (blanqueados)];
Whole Broad Beans
(Habas enteras);
Peeled Broad Beans
(Habas peladas);
Snow White or Shine
Pumpkin Seeds (Semillas de Calabazas blanco nieve o brillante);
Shelled Pumpkin
Seeds (Semillas de Calabazas descascadas);
Red Speckled Kidney
Bean (Frijol Rinon rojo nueva cosecha);
Purple Speckled Kidney
Bean (Frijol Rinon morado nueva cosecha);
Light Speckled
Kidney Bean (Frijol Rinon claro);
Black Bean (Frijol
Negro);
White Beans (Frijol
Blanco);
Mung Bean (Frijol
Mung);
Fuji Apple, 1st
Grade (Manzana Fuji, 1 er Grado);
Chinese Ya Pear
(Pera china Ya);
Canned Mushroom
(Champignon enlatado);
Canned Pineapple
and Peaches (Pina y duraznos enlatados);
Canned Asparagus
(Esparragos enlatados);
Star Anise (Anis
estrella);
Pinenuts (Pinon);
Cumin Seed
(Comino);
Chinese Fennel
Seeds (Semillas chinas Fennel);
Chestnuts in Shell
(Castanas en cascara);
Walnut Meat
(Nueces);
Cinnamon, Chinese
Cassia (Canela China Cassia);
Dehydrated Tomato
Flakes and Tomato powder (Tomate en ojuelas o en polvo deshidratado);
Spinich Powder
(Espinacas en polvo);
Green Bell Pepper Flakes
(Pimiento verde en ojuelas);
Dehydrated Carrot
Flakes (Zanahoria en ojuelas deshidratada);
Apple Rings
(Manzana en aros);
Tamarind in shell
(Tamarindo en cascara); &
Sunflower Seed.
The subject’s director Mr. William B. Rusconi had served in the United States Air Force, then went on to graduate from California Fresno University with a major in Agronomy and Marketing. He then began a career in agriculturally as well as industrially related enterprises. He formed Cal-Swiss Foods in California, Security Corn Hybrids Company in Iowa, and Security Cotton Seed Company in Tennessee, with branches in Mexico and South America. During that period, he also developed a 6,000 acre farming operation in the San Joaquin Valley of California.
His business career is highlighted by his serving on the Agricultural Board of Governors of the FSC University for a period of many years. Mr. Rusconi also:-
· was a trade mission member for the United States Department of Commerce to Russia in developing grain trade under US President Johnson;
served as an action member of the Osaka Japan – San Francisco
USA sister and trade mission;
has a career in Agronomy, including developing several varieties
of Garlic and Alfalfa seed (medicago sativa), for the US, Italy, Mexico and
Germany. He developed several corn
hybrids that increased the corn yields in the United States; &
is a specialist in all fields of garlic – research, growing,
marketing, processing and shipping.
He is recognized in the United States as a modern thinker and planner in the fields of marketing and distribution, and is renowned through many parts of the world for his accomplishments, holding an honorary doctorate degree from Rome University.
He formed the American Family Foundation for the betterment of Family Harmony, and has written extensively on the subject of achieving health and happiness by using proper thinking, while developing personal responsibility on the part of each family member.
Moving out of his farming career, he went to work as director of Top Pearl.
The subject’s business in Hong Kong is just fairly active. Business is handled by Ms. Rosanna Chung who is a Hongkongnese. History in Hong Kong is over 23 years.
Since the subject does not have its own operating office and has just one employee in Hong Kong, consider it good for business engagements on L/C basis or in small credit amounts.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.67 |
|
UK Pound |
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.87.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.