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Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
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Name : |
HENGTAI (HONG
KONG) INTERNATIONAL GROUP CO. LTD. |
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Registered Office : |
Flat A2, 7/F.,
Kin On Commercial Building, 49-51 Jervois Street, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.04.2010 |
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Com. Reg. No.: |
52102705 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer,
Exporter and Wholesaler of All kinds of frozen meat, etc |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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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 |
|
Low |
A2 |
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Moderate |
B1 |
|
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 |
HENGTAI (HONG KONG) INTERNATIONAL GROUP CO.
LTD.
Flat A2, 7/F., Kin
On Commercial Building, 49-51 Jervois Street, Sheung Wan, Hong Kong.
PHONE: 2158
0693
FAX: 3011
6204
E-MAIL: hengtai@hengtaihk.com
Managing
Director: Mr. Yuen Hon Sang
Incorporated
on: 16th
April, 2010.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$10,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 4.
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
HENGTAI (HONG KONG) INTERNATIONAL GROUP CO.
LTD.
Registered Head Office:-
Flat A2, 7/F., Kin On
Commercial Building, 49-51 Jervois Street, Sheung Wan, Hong Kong.
52102705
1444856
Managing
Director: Mr. Yuen Hon Sang
General
Manager: Mr. Jeff Jiang
Overseas
Manager: Ms. Lydia Huang
Mr. Io Jiang
Nominal Share
Capital: HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000,000.00
(As per registry
dated 08-06-2012)
|
Name |
|
No. of shares |
|
YUAN Xiaojian |
|
100,000 |
|
YUEN Hon Sang |
|
9,900,000 |
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|
|
|
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Total: |
10,000,000 ======== |
DIRECTOR
(As per registry
dated 29-05-2012)
|
Name (Nationality) |
Address |
|
YUEN Hon Sang |
Flat B, 4/F., 36 Tonkin
Street, Cheung Sha Wan, Kowloon, Hong Kong. |
(As per registry
dated 16-04-2012)
|
Name |
Address |
Co. No. |
|
Cheuk Ying
Enterprise Management Ltd. |
Room 510-511,
5/F., Nam Fung Tower, 173 Des Voeux Road Central, Hong Kong |
1158874 |
The subject was
incorporated on 16th April, 2010 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 frozen
meat, etc.
Employees: 4.
Commodities
Imported: Europe, US, South America,
etc.
Markets: Hong Kong, China, Japan,
US, other Asian countries, etc.
Terms/Sales: L/C
or as per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share
Capital: HK$10,000,000.00 (Divided into
10,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000,000.00
Profit or Loss: Making a small profit in 2011.
Condition: Keeping
in a satisfactory manner.
Facilities: Making
rather 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
million ordinary shares of HK$1.00 each, Hengtai(Hongkong) International Group
Co. Ltd. is jointly owned by Mr. Yuen Hon Sang, holding 99% interests; and
Mr. Yuan Xiaojian, holding just 1%.
Being a Hong Kong merchant, the former is the only director of the
subject. The minor shareholder is a
China merchant currently residing in Panyu, Guangzhou City, Guangdong Province,
China.
The subject is a
frozen meat trader. It is an importer in
Hong Kong specialised in importing frozen meat including beef, all kinds of
poultry meat, mutton, seafood and other related foodstuffs in order to meet the
market demands in China. Its suppliers
mainly come from Asia countries, Europe, the Middle east and South America,
etc.
According to the
subject, all its managing personnel have been engaged in the line of business
for seven years.
The subject has its
joint venture which is a food processing factory in China. Besides, it also has developed strong
relations with China food and meat processing factories. As a result, the subject needs large volume
of frozen meat, poultry and large quantities of other foodstuffs.
At present, the
subject is looking for more reliable partners who can supply it with long time
and steady food products.
The subject also
exports its frozen meat to the other Asian countries.
In order to
penetrate the international market further, the subject has taken part in fairs
and exhibitions held in China and the other foreign large cities in Southeast
Asia.
It made a small
profit in 2011.
The subject is
managed by Mr. Jeff Jiang, Ms. Lydia Huang and Mr. Mr. Io Jiang. Mr. Yuan Xiaojian is the president.
As the history of
the subject is just over two years in Hong Kong, on the whole, consider it
good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
|
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 |
|
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NB |
New Business |
---- |
This score serves as a reference to assess SCs 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.