|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
HUNG LING INTERNATIONAL LTD. |
|
|
|
|
Registered Office : |
Unit 1203, 12/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
25.01.1999 |
|
|
|
|
Com. Reg. No.: |
22255683 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Fish feedstuffs, farm equipment, garden equipment, etc. |
|
|
|
|
No. of Employees : |
8 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
HUNG LING
INTERNATIONAL LTD.
ADDRESS: Unit 1203, 12/F., Mirror
Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.
PHONE: 2722 7055
FAX: 2723 3707
Managing Director: Ms. Nadezda Bannikova
Incorporated on: 25th January,
1999.
Organization: Private
Limited Company.
Capital: Nominal: HK$8,000,000.00
Issued: HK$8,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Unit 1203, 12/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon,
Hong Kong.
Associated Companies:-
Ocean Star International Development Ltd., Hong Kong. (Same address)
Ocean Star International Inc., USA.
O.S.I. Marine Lab. Inc., USA.
22255683
0665973
Managing Director:
Ms. Nadezda Bannikova
Nominal Share Capital: HK$8,000,000.00 (Divided into 8,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$8,000,000.00
(As per registry dated 25-01-2012)
|
Name |
|
No. of shares |
|
Sonet Secretaries Ltd., Hong Kong. |
|
4,000,000 |
|
Sonet (Nominees) Ltd., Hong Kong. |
|
4,000,000 |
|
|
|
–––––––– |
|
|
|
8,000,000 ======= |
(As per registry dated 25-01-2012)
|
Name (Nationality) |
Address |
|
Nadezda BANNIKOVA |
Unit 1203, 12/F., Mirror Tower, 61 Mody Road, Tsimshatsui, Kowloon,
Hong Kong. |
|
GOE Soul Sun |
9F, No. 241, Section 2, An-Ho Road, Taipei. Taiwan. |
(As per registry dated 25-01-2012)
|
Name |
Address |
Co. No. |
|
Sonet Secretaries Ltd. |
6/F., May May Building, 683-685 Nathan Road, Mongkok, Kowloon, Hong
Kong. |
0053315 |
The subject was incorporated on 25th January, 1999 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: Fish
feedstuffs, farm equipment, garden equipment, etc.
Employees: 8.
Commodities Imported: US, Europe, etc.
Markets: Worldwide
countries, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$8,000,000.00 (Divided into 8,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$8,000,000.00
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities: Is making use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
Having issued 8 million ordinary shares of HK$1.00 each, Hung Ling International
Ltd. is equally owned by Sonet Secretaries Ltd. and Sonet (Nominees) Ltd. Both are Hong Kong-registered firms and
located at the same address in Hong Kong.
The directors of the subject are Ms. Nadezda Bannikova and Mr. Simon Goe
Soul Sun. The former is a Russia
passport holder while the latter is a Taiwan passport holder.
The subject is trading in fish feedstuffs, farm equipment, garden
equipment, etc.
Goe Soul Sun is also the President of Ocean Star International Inc.
[OSI] which is a US-based firm.
The subject is trading in the same commodities as OSI which was founded
in 1981. In 2011, the sales turnover of
OSI amounted to US$4.4 million.
Simon Soul-Sun Goe, who was sued in 2005 for non payment of US$1.8
million in business deals in Iran (associated with the cultivation of brine
shrimp eggs). Goe sought to have the
case dismissed on the grounds of Executive Order 12,959 (now superseded by
Executive Order 13,059) which prohibits United States citizens from investing
in and trading with Iran.
OSI produces over 50 different types of feeds for aquarium fishes,
reptiles and garden pond fishes. For
over 20 years OSI has produced premium quality baby fish and shrimp hatchery
feeds. These feeds are produced with
very high standards, to meet the sanitation demands of animals destined for
human consumption. Its facilities in
Utah are USDA and FDA inspected to comply with these standards. The same quality commitment in terms of
ingredients, processing technology and cleanliness used in our aquaculture
feeds are also used to make our pet feeds.
It has currently extended its range to full line of aquarium and water
garden products.
Products are exported to worldwide countries.
Ms. Nadezda Bannikova is a Russian and Eurasian patent attorney.
Graduated from Moscow Medical Academy in 1978 as a pharmacist, then -
from Central Institute of Intellectual Property (Moscow). Bannikova started her career as a pharmacist
in a drug store (Moscow), afterwards worked in R & D Institute of Physical
Chemistry, Russian Academy of Sciences.
She is specialized in patents in the fields of general organic
chemistry, medicine, biochemistry, pharmaceuticals and agrochemicals. In 1997 she participated at international
seminar ‘Preparing and Filing Applications under PCT Treaty’, Munich
(Germany). She is a member of AIPP. She has been co-operating with GOE Soul Sun
to develop fish feedstuffs in the United States.
The subject is trading in the same products carried by OSI. Business is normal. Products are marketed in Hong Kong, China and
re-exported to the other Asian countries.
Business is rather active.
History in Hong Kong is about 14 years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.82 |
|
|
1 |
Rs.87.99 |
|
Euro |
1 |
Rs.72.83 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
|
-- |
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.