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Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG SIMSONS
TRANSP CO. LTD. |
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Registered Office : |
c/o Longteng Enterprise Consultation
Management Ltd. Unit B, 10/F., Lee May Building, 788-790 Nathan Road, Mongkok, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.06.2010 |
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Com. Reg. No.: |
52469646 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Transportation and Logistic Service Provider. |
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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.
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Source : CIA |
HONGKONG SIMSONS
TRANSP CO. LTD.
c/o Longteng Enterprise Consultation Management Ltd.
Unit B, 10/F., Lee May Building, 788-790 Nathan Road, Mongkok, Kowloon,
Hong Kong.
PHONE: 2193 5855
FAX: 8167 3777
Managing Director: Ms. Liang
Xiaoqiong
Incorporated on: 21st June, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Transportation and Logistic Service Provider.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONGKONG SIMSONS
TRANSP CO. LTD.
Registered
Office:-
c/o Longteng Enterprise Consultation Management
Ltd.
Unit B, 10/F., Lee May Building, 788-790 Nathan
Road, Mongkok, Kowloon, Hong Kong.
52469646
1471029
Managing Director: Ms. Liang
Xiaoqiong
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 21-06-2012)
|
Name |
Occupation |
No.
of shares |
|
LIANG Xiaoqiong |
Merchant |
10,000 ===== |
(As per registry dated 21-06-2012)
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Name (Nationality) |
Address |
|
Liang Xiaoqiong |
No. 517, Xing Ou
Village, Caotan Town, Suixi County, Guangdong Province, China. |
(As per
registry dated 21-06-2012)
|
Name |
Address |
Co.
No. |
|
Longteng Enterprise Consultation Management Ltd. |
Unit B, 10/F., Lee May Building, 788‑790 Nathan
Road, Mongkok, Kowloon, Hong Kong. |
1514551 |
The subject was incorporated on 21st
June, 2010 as a private limited liability company under the Hong Kong Companies
Ordinance.
The subject’s registered address
was located at Room 502C, 5/F., Hang Pont Commercial Building, 31 Tonkin
Street, Cheung Sha Wan, Kowloon Hong Kong where is the operating address
of a commercial service provider. It
changed to the present address in June 2012 as it has changed its commercial
service provider since then.
Apart from these, neither material
change nor amendment has been ever traced and noted.
Activities & Lines: Transportation and Logistic Service Provider.
Employees: Nil.
Commodities Imported: Not applicable.
Business Territories: China, Hong Kong, etc.
Terms/Sales/Service: CAD or 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: 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, Hongkong Simsons Transp Co. Ltd. is wholly owned by Ms.
Liang Xiaoqiong who is a China businesswoman.
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 “Unit B, 10/F., Lee May
Building, 788‑790 Nathan Road, Mongkok, Kowloon, Hong Kong” known as
“Longteng Enterprise Consultation Management Ltd.” [Longteng] which is handling
its correspondences and documents.
Longteng is also the corporate secretary of the subject.
The subject has no
employees in Hong Kong. Its head office
is in Guangdong Province, China. The
China firm bear the same name as the subject [Hongkong Simsons] which is also
owned by Ms. Liang Xiaoqiong.
The subject has been
approved by the Customs and Excise Department, Section of Road Cargo System
[ROCARS], the Hong Kong SAR Government to be a transportation agent.
The subject has had an
affiliated company in Hong Kong known as Asia Orient International Ltd. However, this firm also does not have an
operating office in Hong Kong.
The subject is engaged in
the following business scope:-
·
Agent for factories in tax rebating;
·
Consultant in Road Transportation;
·
Customs Declaration;
·
Receiving L/Cs for clients; &
·
Road Transportation Between Hong Kong and China.
The subject’s China address
is unknown to us.
The subject’s business in
Hong Kong is not active. History in Hong
Kong is over 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.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
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 |
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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 |
|
<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.