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Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
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Name : |
UNITED CENTURY GROUP CO. LTD. |
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Registered Office : |
c/o Power Point
International Co Ltd. Room 1702, 17/F., Sino Centre, 582-592 Nathan Road, Mongkok, Kowloon |
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Country : |
Hong Kong. |
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Date of Incorporation : |
01.12.2003 |
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Com. Reg. No.: |
34124898 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
--- |
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No. of Employees : |
Not
Available |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
UNITED CENTURY
GROUP CO. LTD.
ADDRESS:
Registered
Office:-
c/o Power Point
International Co Ltd.
Room 1702, 17/F., Sino
Centre, 582-592 Nathan Road, Mongkok, Kowloon, Hong Kong.
34124898
0873139
1st December,
2003.
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 01-12-2011)
|
Name |
|
No.
of shares |
|
CHEN
Lijiu |
|
3,900 |
|
SO
Kei Cheong |
|
3,600 |
|
CHANG Her Cheng |
|
2,500 |
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|
–––––– |
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Total: |
10,000 ===== |
(As per registry dated 01-12-2011)
|
Name (Nationality) |
Address |
|
SO Kei Cheong |
Yongqing 2nd Industrial Area, Daojiao Town,
Dongguan City, Guangdong Province, China. |
|
CHANG Her Cheng |
Yongqing 2nd Industrial Area, Daojiao
Town, Dongguan City, Guangdong Province, China. |
(As per registry dated 01-12-2011)
|
Name |
Address |
Co.
No. |
|
Power
Point International Co Ltd. |
Room 804, 8/F., Sino Centre, 582-592 Nathan Road, Mongkok, Kowloon,
Hong Kong. |
0381951 |
The
subject was incorporated on 1st December, 2003 as a private limited liability company
under the Hong Kong Companies Ordinance.
The
subject’s registered address was located at Room 804, 8/F., Sino Centre, 582‑592
Nathan Road, Mongkok, Kowloon, Hong Kong where was the old operating address of
a secretarial firm Power Point International Co Ltd., moved to Room 1702,
17/F., of the same building with effect from 31st July, 2012 as the secretarial
firm has moved to this new address since then.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
United
Century Group Co. Ltd. was incorporated on 1st December, 2003 as a private
limited liability company.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at “Room 804,
8/F., Sino Centre, 582‑592 Nathan Road, Mongkok, Kowloon, Hong Kong”
known as “Power Point International Co Ltd.” [Power Point] which is handling
its correspondences and documents. This
firm is also the corporate secretary of the subject.
The
subject has no employees in Hong Kong.
Your given phone number 852-2384 0332 belongs to Power Point.
According
to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary
shares of HK$1.00 each of which 39% are owned by Mr. Chen Lijiu, 36% are
owned by Mr. So Kei Cheong and 25% by Mr. Chang Her Cheng. The second and third are also directors of
the subject. They seem to be Taiwan
merchants. Currently, the three
shareholders are residing in Daojiao Town, Dongguan City, Guangdong Province,
China.
Now,
Mr. So Kei Cheong is a Hong Kong ID holder.
The
subject has had an associated company DJ Furniture Co. Ltd. [DJ Furniture]
located at Yongqing 2nd Industrial Area, Daojiao Town, Dongguan City, Guangdong
Province, China
DJ
furniture is a modern enterprise which is engaged in manufacturing and
marketing all kinds of furniture. It was
established in 1998 and its plant area is about 18,000 square meters and has
more than 200 skilled workers.
DJ
furniture has become a global original design manufacturer (ODM) and original
equipment manufacturer (OEM) of furniture that is rather reputable in some of
the Asian countries such as Taiwan, etc.
DJ
furniture is engaged in manufacturing all kinds of dining room furniture, bed
room furniture and reading room furniture, etc.
It also manufactures other wood and bamboo general household products.
Products
are marketed in China, exported to Taiwan, other Southeast Asian countries,
Europe, etc.
It
is likely that DJ furniture deals with foreign parties under the name of the
subject and let foreign firms correspond with the subject’s registered address
in Hong Kong. DJ furniture 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 nine 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.53.98 |
|
UK Pound |
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.08 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
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 |
|
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.