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Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
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Name : |
VERDANT
INTERNATIONAL LTD. |
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Registered Office : |
16/F., |
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Country : |
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Date of Incorporation : |
15.01.2013 |
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Com. Reg. No.: |
60875453 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler
of all kinds of frozen meat such as frozen pork, beef, mutton, chicken &
other poultry products |
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No. of Employees : |
06. (Including
associates) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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.
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Source : CIA |
VERDANT INTERNATIONAL LTD.
16/F., Supreme Commercial Building, 368 King’s Road, North Point, Hong Kong.
PHONE: 852-2887 8422
FAX: 852-2728 9699
Managing Director: Mr. Yeung Yeung, Alex
Incorporated on: 15th January, 2013.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 6. (Including associates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
16/F., Supreme Commercial Building, 368 King’s Road, North Point, Hong Kong.
Holding Company:-
Verdant International Group Ltd., British Virgin Islands.
Affiliated
Companies:-
Qualink Enterprise Co., Hong Kong. (Same address)
Top Link International (Mfg.) Co. Ltd., Hong Kong. (Same address)
Associated Companies:-
Verdant International Co., Hong Kong. (Same address)
Guangzhou Verdant International Co. Ltd.
5/F., Tenth Street, International Aquatic Exchange Centre, Luoxi, Panyu, Guangzhou, Guangdong Province, China.
[Tel: 86-20-3993 1705; Fax: 86-20-3993 1702]
60875453
1851533
Managing Director: Mr. Yeung Yeung, Alex
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 15-01-2013)
|
Name |
|
No.
of shares |
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Verdant International Group
Ltd. P.O. Box 957, Offshore Incorporations Centre, Road Town,
Tortola, British Virgin Islands. |
|
100 === |
(As per registry dated
15-01-2013)
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Name (Nationality) |
Address |
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YEUNG Yeung,
Alex |
Room 701, 7/F., Block 49, Heng
Fa Chuen, Hong Kong. |
(As per registry
dated 15-01-2013)
|
Name |
Address |
Co.
No. |
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C.Y. Chan & Hilda Ltd. |
Room B, 5/F., Kiu Yin Commercial Building, 361-363
Lockhart Road, Wanchai, Hong Kong. |
0584185 |
The subject was incorporated on 15th January, 2013 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: All kinds of frozen meat.
Employees: 6. (Including associates)
Commodities Imported: Europe, North and South America, Australia, New Zealand, etc.
Markets: China, Japan, other Asian countries, 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$100.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Is making 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, Verdant International Ltd. is a wholly-owned subsidiary of Verdant International Group Ltd. which is a BVI-registered company.
The only director of the subject Yeung Yeung, Alex is a Hong Kong merchant.
The subject is a frozen meat trader. It has had an associated company Verdant International Co. [VIC] located at the same address and is also owned and operated by Yeung Yeung, Alex. VIC was established on 21st May, 2007.
The subject and VIC are engaged in the same lines of business.
The subject has had an affiliated company Qualink Enterprise Co. [Qualink] located at its operating address. Qualink is also a frozen foodstuff trader.
The subject has had an associated company in Panyu, Guangzhou City, Guangdong Province, China known as Guangzhou Verdant International Co. Ltd.
The subject is trading in frozen pork, beef, mutton, chicken & other poultry products. Products are imported from Europe, North and South America, Australia, New Zealand, etc. Prime markets are China, Japan, other Asian countries, North America, etc. Business is normal.
Qualink seems to be a business partner of the subject.
The subject’s business is chiefly handled by Yeung Yeung, Alex himself. History in Hong Kong is just over eleven months.
Another company known as Top Link International (Mfg) Co. Ltd. [TLI] is also located at the same address. However, TLI is not a frozen food trader. It is trading in wood Venetian blinds, woven bamboo blinds, other household products for decorations. The contact person of this company is Mr. Wang Chun Chen.
On the whole, since the history of the subject is short in Hong Kong, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.10 |
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|
1 |
Rs.101.27 |
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Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
-- |
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.