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Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
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Name : |
Mammoth Industrial Group (Hong Kong) Ltd. |
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Registered Office : |
C/o Hongkong King and Kirin Business Ltd. Room 905, 9/F., Workingberg Commercial
Building, 41-47 Marble Road, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.08.2011 |
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Com. Reg. No.: |
58926503 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Iron and Steel,
Building Materials, Mineral Ores, Timber, Coke, Hardware, Machinery and
Equipment, etc. |
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No. of Employees : |
Nil |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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'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 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the 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 28 million in 2011, 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 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% 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. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. 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 |
MAMMOTH
INDUSTRIAL GROUP (HONG
KONG) LTD.
ADDRESS: c/o Hongkong King&Kirin Business Ltd.
Room 905, 9/F., Workingberg Commercial Building, 41-47 Marble Road, Hong Kong.
PHONE: 2811 3620
FAX: 2811 3621
Managing Director: Ms. Song Lirong
Incorporated on: 12th August, 2011.
Organization: Private Limited Company.
Capital: Nominal:HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employee: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
MAMMOTH
INDUSTRIAL GROUP (HONG
KONG) LTD.
Registered Office:-
c/o Hongkong King&Kirin Business Ltd.
Room 905, 9/F., Workingberg Commercial Building, 41-47 Marble Road, Hong Kong.
Associated Companies:-
Mammoth Industrial Co. Ltd., China.
Tangshan Qianxin Trading Co. Ltd., China.
Tangshan Yangbin Trading Co. Ltd., China.
58926503
1657586
Managing Director: Ms. Song Lirong
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 12-08-2012)
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Name |
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No.
of shares |
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SONG Lirong |
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10,000 ===== |
(As per registry dated 12-08-2012)
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Name (Nationality) |
Address |
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SONG Lirong |
5/F., Building GC, Jingang
International, Lubei District, Tangshan, China. |
(As per registry dated 12-08-2012)
|
Name |
Address |
Co.
No. |
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Hongkong King&Kirin Business Ltd. |
Room 905, 9/F., Workingberg Commercial Building, 41-47
Marble Road, Hong Kong. |
0996994 |
The subject was incorporated on 12th August, 2011 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: Iron & Steel, Building Materials, Mineral Ores, Timber, Coke, Hardware, Machinery & Equipment, etc.
Employee: Nil.
Commodities Imported: Europe, Asian countries, etc.
Markets: China, other Asian countries, Europe, North and South America, etc.
Terms/Sales: CAD, L/C, T/T, etc.
Terms/Buying: L/C, Advanced T/T, 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: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Making fairly 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, Mammoth Industrial Group (Hong Kong) Ltd. is wholly owned by Ms. Song Lirong who is a China merchant. She is a China ID holder and does not have the right to reside in Hong Kong permanently. She is also the only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room 905, 9/F., Workingberg Commercial Building, 41-47 Marble Road, Hong Kong” known as “Hongkong King&Kirin Business Ltd.” which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.
The subject has no employee in Hong Kong. It has had a main associated company known as Mammoth Industrial Co. Ltd. [MICL] which is a China‑based firm.
MICL is a dynamic company group, including factories, production facilities, processing factories, trading, and sales. It has established itself with deep‑rooted market knowledge and is secure in the marketplace with a registered capital of RMB30 million Yuan. Because of the group’s far‑ranging base and extensive experience in a variety of industries, MICL can offer customers with a wide range of products including steel products such as steel coil, steel pipe, angle steel, rebar, or any other steel products, building and construction materials, iron ore, hardware, mechanical equipment, spare parts, electrical products, ceramics, tiles, paper products, plastic articles, textiles, consumer goods, art and glassware, and food products.
Products are marketed in China, Japan, exported to the other Asian countries, Europe, North America, etc.
MICL has a history of forming stable and long-lasting relationships with its business partners, which have enabled it to grow its imports and exports to US$30 million. Its international team includes a number of professionals not only offers its clients and partners a variety of products and logistics solutions, but also solve problems for its customers.
MICL also helps clients explore the Chinese market, source products, inspect goods, etc.
MICL is located at 5/F., Building GC, Jingang International, Lubei District, Tangshan City, Hebei Province, China where is the registered address of Song Lirong.
MICL has had two associated companies known as Tangshan Qianxin Trading Co. Ltd. and Tangshan Yangbin Trading Co. Ltd. respectively. Both firms are in Tangshan City, Hebei Province, China.
It is likely that MICL deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. MICL also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over a year.
Since the subject does not have its own operating office and has no employee in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
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|
1 |
Rs.83.97 |
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Euro |
1 |
Rs.71.88 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
-- |
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.