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Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
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Name : |
FIBER LUXE
CO. LTD. |
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Registered Office : |
48B, Tower 1, Kornville, 38 Yau Man Street, Quarry Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.09.2000 |
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Com. Reg. No.: |
31312331 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of silk
fibres, silk fabrics, garments, 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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
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 |
FIBER LUXE
CO. LTD.
48B, Tower 1, Kornville, 38 Yau Man Street, Quarry Bay, Hong Kong.
PHONE: Not available
Managing Director: Ms. Ding Wei
Incorporated on: 4th September, 2000.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Silk & Silk Fabric Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
FIBER LUXE
CO. LTD.
Registered
Head Office:-
48B, Tower 1, Kornville, 38 Yau Man Street, Quarry
Bay, Hong Kong.
31312331
0729973
Managing Director: Ms. Ding Wei
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 04-09-2012)
|
Name |
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No.
of shares |
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DING Wei |
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10,000 ===== |
(As per registry dated 04-09-2012)
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Name (Nationality) |
Address |
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DING Wei |
2003, No. 8
Zhuan Jiao Lou Nan Li, Chao Yang District, Beijing, China. |
(As per registry dated 04-09-2012)
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Name |
Address |
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CHAN Lai Sai |
Room 517, 5/F., Block H, Ming Wah Dai Ha,
Shaukeiwan, Hong Kong. |
The subject was incorporated on
4th September, 2000 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: All kinds of silk fibres, silk fabrics, garments, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: Asian countries, Europe, US, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
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, Fiber Luxe Co. Ltd. is wholly owned by Ms.
Ding Wei who is a China businesswoman.
She is a China passport holder and does not have the right to reside in
Hong Kong permanently. She is also the
only director of the subject.
The subject’s telephone
number and fax number have not registered with local telephone company nor
listed on telephone directories.
The subject’s registered
address is in a private building located at 48B, Tower 1, Kornville, 38
Yau Man Street, Quarry Bay, Hong Kong.
This may be the residence of Ding Wei when she is in Hong Kong.
The residential building is
not trespassed by outsiders. The subject
has no employees in Hong Kong.
The subject is trading in
the following products:-
Silk fibres, silk fabrics,
silk garments, other silk products, etc.
Products are exported to
the other Asian countries, Europe, the United States, etc. Business is just fair.
To our knowledge, the
subject has had an associated company in Beijing, China bearing the same
name. The Beijing firm is also operated
by Ding Wei.
After graduating from a
university in Beijing, China, Ding was engaged in silk exporting business. During the years 1992 to 2000, she had worked
in China National Silk Import & Export Corporation which is a significant
State-owned enterprise. After getting
sufficient experiences, she set up the subject in September 2000 in Hong Kong
while its main operating office is in Beijing, China.
However, in late 20’s, the
business of the Beijing firm was greatly hit by the appreciation of Renminbi
and the European financial crisis. The
results were the price increases in materials and commodities and the decrease
in European orders. Now, the Beijing
firm has been hard scrabble.
The business of the subject
in Hong Kong is not active. History in
Hong Kong is just over twelve years.
Since the registered office
of the subject is in a residential building, on the whole, consider it good for
normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.05 |
|
|
1 |
Rs.83.44 |
|
Euro |
1 |
Rs.72.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.