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Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
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Name : |
Hong kong Yip Shing co. LTd. |
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Registered Office : |
C/o Hong Kong Hang Sing Technology Co., Room 504, 5/F.,
Block B, Chung Mei Centre, 15 Hing Yip Street, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.02.2010 |
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Com. Reg. No.: |
51839880 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Capacitor, Diode,
Integrated Circuit (IC), Transistor, Electronic Components, etc. |
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No. of Employees : |
3 (Including Affiliates) |
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
|
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 |
HONG
KONG YIP SHING
CO. LTD.
ADDRESS: c/o Hong Kong Hang Sing Technology Co.
Room 504, 5/F., Block B, Chung Mei Centre, 15 Hing Yip Street, Kwun Tong, Kowloon, Hong Kong.
PHONE: 2797 3899
FAX: 2797 8800
Managing Director: Mr. Zhao Xi He
Incorporated on: 22nd February, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 3. (Including affiliates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Hong Kong Hang Sing Technology Co.
Room 504, 5/F., Block B, Chung Mei Centre, 15 Hing Yip Street, Kwun Tong, Kowloon, Hong Kong.
Affiliated Companies:
Hong Kong Hang Sing Technology Co., Hong Kong. (Same address)
Hong Kong Golden Tai (International) Electronics Co.
Room 503, 5/F., Block B, Chung Mei Centre, 15 Hing Yip Street, Kwun Tong, Kowloon, Hong Kong.
51839880
1424118
Managing Director: Mr. Zhao Xi He
Contact Person: Ms. Miranda Tang
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 22-02-2012)
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Name |
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No.
of shares |
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ZHAO Zhuang Qin |
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10,000 ===== |
(As per registry dated 31-12-2012)
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Name (Nationality) |
Address |
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ZHAO Xi He |
B-18A Hua Quiang Garden, Fu
Hong Road, Futian District, Shenzhen, China. |
(As per registry dated 22-02-2012)
|
Name |
Address |
Co.
No. |
|
Flexkin Corporate Services Ltd. |
Room 2003, 20/F., Mongkok Commercial Centre,
16 Argyle Street, Mongkok, Kowloon, Hong Kong. |
1237433 |
The subject was incorporated on 22nd February, 2010 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: Capacitor, Diode, Integrated Circuit (IC), Transistor, Electronic Components, etc.
Employees: 3. (Including affiliates)
Commodities Imported: China, Japan, etc.
Markets: China, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charges:-
Date of Charge Over Deposits/Securities (2-Parties): 09-08-2012
Amount: To secure all monies
Property: The Chargor charges by way of first fixed charge to the Bank all the right, title and interest of the Chargor in and to the Charged Assets.
Mortgagee: Hang Seng Bank Ltd., Hong Kong.
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Is making use of general banking facilities.
Payment: Unknown
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, Hong Kong Yip Shing Co. Ltd. is wholly owned by Mr. Zhao Zhuang Qin who is a China merchant. He is a China ID card holder and does not have the right to reside in Hong Kong permanently. He was also the only director of the subject. Now, the new director of the subject Mr. Zhao Xi He is also a China ID holder. Currently Zhao Xi He is residing in Shenzhen Special Economic Zone, China.
The subject does not have its own operating office. Its registered office is in a Hong Kong registered firm located at Room 504, 5/F., Block B, Chung Mei Centre, 15 Hing Yip Street, Kwun Tong, Kowloon, Hong Kong known as Hong Kong Hang Sing Technology Co. [Hang Sing] which is handling its correspondences and documents.
There is another firm known as Hong Kong Golden Tai (International) Electronics Co. [Golden Tai] located at the next door which bears the Room 503. However, Golden Tai and Hang Sing has had certain relation.
The subject has no employees in Hong Kong. All the employees in the office belongs to Hang Sing. The subject and these two firms are engaged in the same lines of business, more or less.
The subject is trading in the following commodities: Capacitor, Diode, Integrated Circuit (IC), Transistor, Electronic Components (Excluding Semiconductors), other Electronic Products, etc.
Most of the products are sourced from China and the other Asian countries. Prime markets are Southeast Asia, etc. It is likely that Zhao has had an associated factory in Shenzhen Special Economic Zone, China manufacturing the above-mentioned products.
It is likely that Hang Sing and Golden Tai are business partners of the subject. Hang Sing is also trading in the above-mentioned products.
The contact person is Ms. Miranda Tang who is a Hongkongnese. She is an employee of Golden Tai.
The history of the subject in Hong Kong is just about three 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
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Euro |
1 |
Rs.71.79 |
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.