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Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
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Name : |
SHC INTERNATIONAL (HK) LTD. |
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Registered Office : |
C/o Excel Search Consultants Ltd. Unit 1, 14/F., Yue Xiu Building, 160-174 Lockhart Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.03.2011 |
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Com. Reg. No.: |
58102816 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Electronic home appliances, electric health products, etc. |
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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 (31.03.2011) |
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.
Source
: CIA
SHC INTERNATIONAL
(HK) LTD.
ADDRESS: c/o Excel Search Consultants
Ltd.
Unit 1, 14/F., Yue
Xiu Building, 160-174 Lockhart Road, Wanchai, Hong Kong.
PHONE: 2529 0300
FAX: 2832 6676
E-MAIL: info@shineindustrial.com
info@shinehk.com
Managing Director: Mr. Xia Xiaoming
Incorporated on: 18th
March, 2011.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: China Guangfa Bank Co. Ltd., China.
Banking Relation: Satisfactory.
Registered Office:-
c/o Excel Search Consultants Ltd.
Unit 1, 14/F., Yue Xiu Building, 160-174 Lockhart Road, Wanchai, Hong
Kong.
Parent Company:-
Haier Electronics Sales (HK) Co. Ltd., Hong Kong.
China Factory:-
Flat G-L, 11/F., Xinhaofang Building, 188 Shennan Road, Nanshan
District, Shenzhen 518052, China.
[Tel: 86-755-8618 2000
Fax: 86-755-8618 2881
E-mail: shine@shineindustrial.com]
Associated/Affiliated Companies:-
Shenzhen Jens Electric Co. Ltd., China.
Shenzhen Shine Industrial Co. Ltd., China.
Shenzhen Shine Technology Co. Ltd., China.
Shine (HK) Development Ltd., Hong Kong.
(Same address)
Shine Overseas Marketing Ltd., Hong Kong. [Deregistration]
58102816
1575536
Managing Director: Mr. Xia
Xiaoming
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
(As per registry dated 18-03-2012)
|
Name |
|
No. of shares |
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Shine (HK) Development Ltd., Hong Kong. |
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490,000 |
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Haier Electronics Sales (HK) Co. Ltd., Hong Kong. |
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510,000 |
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–––––––– |
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Total: |
1,000,000 ======= |
(As per registry dated 18-03-2012)
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Name (Nationality) |
Address |
|
XIA Xiaoming |
7F Xihai Building, Nanshan Road, Nanshan, Shenzhen, China. |
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YANG Chuncheng |
Household 402, Unit 5, No. 12, Furao Road, Shibei District, Qingdao,
Shandong, China. |
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DIAO Yunfeng |
Household 101, Unit 3, Block 2, No. 146, Hongkong Road East, Laoshan
District, Qingdao, Shandong, China. |
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ZHOU Yunjie |
Household 402, Unit 3, No. 47, Taiqing Road, Shibei District, Qingdao,
Shandong, China. |
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ZHANG Liya |
7F Xihai Building, Nanshan Road, Nanshan, Shenzhen, China. |
(As per registry dated 21-09-2012)
|
Name |
Address |
Co. No. |
|
Excel Search Consultants Ltd. |
Unit 1, 14/F., Yue Xiu Building, 160‑174 Lockhart Road,
Wanchai, Hong Kong. |
0621717 |
The subject was incorporated on 18th March, 2011 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the registered address of the subject was located at Unit 2508A,
25/F., Bank of America Tower, Central, Hong Kong, moved to the present address
with effect from 21st September, 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Electronic
home appliances, electric health products, etc.
Employees: Nil.
Materials/Commodities: Imports raw
materials from European countries, some Asian countries and finished products
from China.
Markets: UK,
Germany, other European countries, North America, other Asian countries, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: T/T,
L/C, D/P, etc.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
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:
China
Guangfa Bank Co. Ltd., China.
Standing:
Small.
Having issued 1 million ordinary shares of HK$1.00 each, SHC
International (HK) Ltd. is jointly owned by Shine (HK) Development Ltd., a
Hong Kong‑registered firm holding 49% interests; and Haier
Electronics Sales (HK) Co. Ltd., also a Hong Kong-registered firm, holding 51%.
The directors of the subject are Xia Xiaoming, Yang Chuncheng, Diao
Yunfeng, Zhou Yunjie and Zhang Liya.
Being China ID holders, they are currently residing in China.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Unit 1, 14/F., Yue Xiu Building, 160‑174 Lockhart
Road, Wanchai, Hong Kong known as Excel Search Consultants Ltd. which is
handling its correspondences and documents.
Excel Search Consultants Ltd. is also the corporate secretary of the
subject.
The subject has no employees in Hong Kong.
To our knowledge, the subject has got a main affiliated company Shenzhen
Shine Technology Co. Ltd. [SST] which is a Shenzhen-based firm. SST was established in 2001. It is operating two workshops in Shenzhen
Special Economic Zone, China.
The subject is trading in the products of SST.
In general, SST is engaged in manufacturing micro-wave ovens, electronic
scales, other kitchen ware, etc. SST’s
products have got the following certificates: CCC, CE, RoHS, ISO 9001, ISO
9004, etc.
SST’s electronic products include scales, pace counting instruments,
etc. Products are exported to Europe,
North America, the Middle East, South Africa, etc. Products are manufactured on OEM or ODM
terms. Main clients are Electrolux,
Delonghi, Ariete, Linmark, Schneider of the UK, etc. The annual sales turnover of SST ranges from
RMB800 to 820 million Yuan. SST has
about 1,000 workers. The legal
representative of SST is Ms. Zhang Liya, general manager is Mr. Xia Xiaoming.
Xia Xiaoming is also the legal representative of Shenzhen Jens Electric
Co. Ltd. [Jens]. Jens was set up in
1997, it is engaged in manufacturing micro‑ovens, electronic scales,
etc. Most of the products bear the brand
names of JENS and Dualcare. Jens has got
RoHS, ISO9001 certifications.
It is likely that SST or Jens deal with foreign parties under the name
of the subject and let foreign firms correspond with the subject’s registered
address in Hong Kong. SST and Jens
also export commodities to foreign markets under the name of the subject and
its registered address in Hong Kong.
The subject is an associated company of Haier Group which is a Shandong‑based
company.
Haier Group is the world’s leading solution provider to a whole set of
home appliances and the distributor through the integration of virtual and
physical networks. Founded in Qingdao,
Shandong Province, China in 1984, Haier adheres to the innovation system of
centering on customers’ needs to drive the sustainable and healthy development. Now, the Group has set up associated
companies in most countries of the world.
The subject’s business in Hong Kong is not very active. History in Hong Kong is just about two
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.54.29 |
|
|
1 |
Rs.84.09 |
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Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.