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Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
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Name : |
VALEN
LINK WORLD HONG
KONG LTD. |
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Registered Office : |
c/o Ator International Ltd. Unit B, 16/F., Tower 3, Florient Rise, |
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Country : |
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Date of Incorporation : |
23.08.2002 |
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Com. Reg. No.: |
32912067 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
· trading in bags and other textile products Subject also trades in pure magnesium Subject is an international trade company which is
composed by three magnesium alloy companies and two magnesium alloy ingots
companies. They are specialised in supplying all kinds of pure magnesium‚
magnesium alloy ingots and magnesium granule. |
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No. of Employees : |
no employees
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 – September 30, 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 |
VALEN LINK WORLD HONG KONG LTD.
(Your enquiry given as: VALEN LINK ORLD HONG KONG LTD)
Registered
Office:-
c/o Ator International Ltd.
Unit B, 16/F., Tower 3, Florient Rise, 38 Cherry Street, Kowloon, Hong Kong.
Associated
Companies:-(Same address)
Deo Cratias International Co., Hong Kong.
Deo Gratias International Ltd., Hong Kong.
Shenzhen Main
Office:-
Room 3002,
6E,Binhaizhichuang, Houhai Road, 518504 Nanshan District, Shenzhen, China.
[Tel: 86-755-8612 5726;
Fax: 86-755-8622 0607]
32912067
0811306
23rd August, 2002.
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 23-08-2013)
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Name |
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No.
of shares |
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LIU Gang |
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10,000 ===== |
(As per registry
dated 23-08-2013)
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Name (Nationality) |
Address |
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LIU Gang |
Jiti Suse, Waiyuxi, 95 Ji,
Guizhou Daxue, Huaxi District, Guiyang City, China. |
(As per registry
dated 23-08-2013)
|
Name |
Address |
Co.
No. |
|
Ator International Ltd. |
Unit B, 16/F., Tower 3, 38 Cherry Street, Kowloon, Hong
Kong. |
0952298 |
The subject was incorporated on 23rd August, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.
Last time, the subject’s registered address was located at Flat A, 30/F., Tower 1, 139 Castle Peak Road, Ping Shan, New Territories, Hong Kong where was the old operating office of a commercial service provider Ator International Ltd. The subject moved to the present address in August 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
Valen Link World Hong Kong Ltd. was incorporated in August 2002.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Unit B, 16/F., Tower 3, Florient Rise, 38 Cherry Street, Kowloon, Hong Kong known as Ator International Ltd. [Ator] which is handling its correspondences and documents. Ator is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each which are wholly owned by Mr. Liu Gang who is a China merchant. Being a China ID holder, Mr. Liu Gang is also the only director of the subject.
The subject has had an associated company known as Deo Gratias International Ltd. [DGIL] located at the same address. DGIL is 50% owned by Liu Gang. DGIL is trading in bags and other textile products. It also trades in pure magnesium.
The subject and DGIL are engaged in the same lines of business, more or less.
DGIL is an international trade company which is composed by three magnesium alloy companies and two magnesium alloy ingots companies. They are specialised in supplying all kinds of pure magnesium‚ magnesium alloy ingots and magnesium granule.
The subject and DGIL have three manufacturer bases, the annual output of magnesium products is about 15,000 tons.
The magnesium manufacturing bases are located in Shanxi Wenxia, Fujian Wuping and Hebei Zhaoxian. The main products are magnesium, alloy, ingot, chip, granule, etc. Products are exported to the other Asian countries, Europe, the Middle East, North America, Central & South America, Australia, etc.
The subject’s main office is in Nanshan District, Shenzhen Special Economic Zone, China employing about 5 persons.
The history of the subject is over eleven 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 |
|
US Dollar |
1 |
Rs.62.00 |
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UK Pound |
1 |
Rs.102.17 |
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Euro |
1 |
Rs.85.19 |
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.