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Report Date : |
28.02.2013 |
IDENTIFICATION DETAILS
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Name : |
BNC INTERNATIONAL LTD. |
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Registered Office : |
C/o HKRTP Ltd. Room 1007, 10/F., Ho King Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon |
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Country : |
Hong Kong. |
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Date of Incorporation : |
16.10.2002 |
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Com. Reg. No.: |
33048675 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Hosiery, underwear, socks, tights, briefs, boxer, booties, slippers, string, T-shirts, hats, scarves, 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) |
|
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
BNC INTERNATIONAL
LTD.
ADDRESS: c/o HKRTP Ltd.
Room 1007, 10/F.,
Ho King Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon, Hong Kong.
PHONE: 2359 5547
FAX: 2347 2225
Managing Director: Mr. Cha Rikai
Incorporated on: 16th
October, 2002.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o HKRTP Ltd.
Room 1007, 10/F., Ho King Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon,
Hong Kong.
Associated Company:-
Shanghai Tex-Prestige Co. Ltd.
Room 1206, Tower 19, 1515 Gumei Road, Shanghai, China.
[Tel: (86-21) 5445 2211; Fax:
(86-21) 5445 2199]
33048675
0817885
Managing Director: Mr. Cha Rikai
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 16-10-2012)
|
Name |
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No. of shares |
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CHEN Liangbing |
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6,500 |
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CHA Rikai |
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3,500 |
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|
–––––– |
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Total: |
10,000 ===== |
(As per registry dated 16-10-2012)
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Name (Nationality) |
Address |
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CHA Rikai |
Room 1206, 12/F., Building 19, 1515, Gumei Road, Shanghai, China. |
|
CHEN Liangbing |
Room 1206, 12/F., Building 19, 1515, Gumei Road, Shanghai, China. |
(As per registry dated 16-10-2012)
|
Name |
Address |
Co. No. |
|
HKRTP Ltd. |
Room 1007, 10/F., Ho King Centre, 2-16 Fa Yuen Street, Monkok, Hong
Kong. |
0663489 |
The subject was incorporated on 16th October, 2002 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: Hosiery,
underwear, socks, tights, briefs, boxer, booties, slippers, string, T-shirts,
hats, scarves, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: China,
other Asian countries, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C, D/P, etc.
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 Charge: (See attachment)
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.
BNC International Ltd. was incorporated on 16th October, 2002 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 1007, 10/F., Ho King Centre, 2‑16 Fa Yuen
Street, Mongkok, Kowloon, Hong Kong” known as “HKRTP Ltd.” which is handling
its correspondences and documents. HKRTP
Ltd. is also the corporate secretary of the subject.
Your Given phone and fax number belong to HKRTP Ltd.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each of which 65% are owned by Mr. Chen
Liangbing and 35% are owned by Mr. Cha Rikai.
The directors of the subject are also Chen and Cha. Being China merchants, the two shareholders
are China passport holders and currently residing in Shanghai, China.
The subject is trading in the following commodities:-
Hosiery, underwear, socks, tights, briefs, boxer, booties, slippers,
string, T-shirts, hats, scarves, etc.
Products are sourced from China and the other Asian countries.
To our knowledge, the subject has got an associated company Shanghai Tex‑Prestige
Co. Ltd. [Tex-Prestige] in Shanghai, China.
Tex-Prestige was established in Shanghai, China in March 2003. It is engaged in producing hosiery products
and underwear for men, women, children and baby as well as the booties for
baby. It has had about 1,000 employees.
Besides marketing in China, its products have been exported to Europe,
other Asian countries, Australia and North America. Its main clients are Metro‑Group
Germany, BC International of the United Kingdom, Carrefour China, Wal-Mart,
etc.
Tex-Prestige has got ISO 9001:2000 and Oeko-Tex Standard 100
certifications. Its monthly production
capacity is about 200,000 pieces. OEM
orders are received.
The contact person of Tex-Prestige is Ms. Rebecca Zhang.
Tex-Prestige is also operated by the shareholders of the subject.
The annual sales turnover of Tex-Prestige ranges from RMB 100 to 120
million. It has got ISO 9002
certification. Business is rather
active.
Tex-Prestige is also controlled by Chen and Cha.
The subject’s business in Hong Kong is not active. It has been banking with The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
In China, the subject also has been banking with Agricultural Bank of
China, so does Tex‑Prestige.
The history of the subject in Hong Kong is over ten 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.
|
Date |
Particulars |
Amount |
|
25-04-2008 |
Instrument: Security Over Deposits Property: A deposit with chargee in the amount of US$13,000 under Deposit A/C
No. 636-366312, whatever currency it may subsequently be denominated in, any renewal
of such deposit and the interest thereon together with any further monies in
any deposit account with the chargee at any of its offices Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Amount Secured (i) All monies in any currency (ii) Interest on such monies (iii)All expenses of the chargee in perfecting or enforcing the
chargee |
|
22-08-2011 |
Instrument: Property: 1) All the Assignor’s claims under the Insurance:- Insurance Policy No: 28004232 Name of Insurance Co.: HSBC Life (International) Ltd. Name of the Insured: Chen Liang Bing Assignor / Policy Owner: BNC International Ltd. 2) All the Assignor’s claims against the issuer of the Policy Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Secured Monies |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.83 |
|
|
1 |
Rs.81.24 |
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Euro |
1 |
Rs.70.38 |
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.