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Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
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Name : |
CHAINEX LTD |
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|
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Registered Office : |
Flat C, 7/F., Golden Mansion, 83-85A Chatham Road South, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
26.01.2007 |
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Com. Reg. No.: |
38520676 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Articles for the feminine hygine
made of paper or cellulose, etc |
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|
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating office in Hong Kong |
|
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 |
|
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 |
CHAINEX LTD
Flat C, 7/F., Golden Mansion, 83-85A Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong.
PHONE: 2311 3703
FAX: 2311 3701
E-MAIL: info@kotonella.com
Managing Director: Ms. Jurgita
Navalinskaite
Incorporated on: 26th January, 2007.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$6.00
Business Category: Importer,
Exporter and Wholesaler.
Employee: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
CHAINEX LTD
Registered
Office:-
Flat C, 7/F., Golden Mansion, 83-85A Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong.
Holding Company:-
Asia Managers Ltd., Hong Kong.
Associated
Companies:-
Bridge One World, Canada.
Daouco Canada Ltd., Canada.
Euro Trade Lt UAB, Lithuania.
Textiles Teresa S.A. de C.V., Mexico.
38520676
1105159
Managing Director: Ms. Jurgita
Navalinskaite
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$6.00
(As per registry dated 26-01-2012)
|
Name |
|
No. of shares |
|
Jurgita NAVALINSKAITE |
|
3 |
|
Asia Managers Ltd., Hong Kong. |
|
3 |
|
|
|
– |
|
|
Total: |
6 = |
(As per registry dated 26-01-2012)
|
Name (Nationality) |
Address |
|
Jurgita NAVALINSKAITE |
Daujeneliu Str. 5A, Daujenai, Pasvalio Region, Lithuania. |
|
Fares DAOU |
878, Berlier, Laval QC H7L 4K5, Canada. |
(As per registry dated 26-01-2012)
|
Name |
Address |
Co. No. |
|
Asia Business Service Ltd. |
Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui,
Kowloon, Hong Kong. |
0871994 |
The subject was incorporated on 26th January, 2007 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: Articles for the feminine hygine made of
paper or cellulose, etc.
Brand Name: Kotonella.
Employee: Nil.
Commodities Imported: China,
other Asian countries, etc.
Markets: Eastern Europe, Asian countries,
Canada, 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$6.00
Profit or Loss: Making a very small profit every
year.
Condition: Keeping in a fairly active
manner.
Facilities: Adequate for current
running.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Chainex Ltd. is equally owned by Ms. Jurgita Navalinskaite and Asia
Managers Ltd. which is a Hong Kong-registered firm. The subject has just issued 6 ordinary shares
of HK$1.00 each while each of the shareholders holds 3 shares.
The directors of the subject are Jurgita Navalinskaite and Fares
Daou. The former is a Lithuania passport
holder while the latter is a Canada passport holder.
The subject does not have its own operating office. Its registered address is in a private
building located at Flat C, 7/F., Golden Mansion, 83-85A Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong.
The subject is trading in all kind of
articles for the feminine hygine made of paper or cellulose. The other products of the subject include the
followings:-
Sanitary napkins, Sanitary pads, Sanitary towels, Sanitary panties,
Sanitary tampons, menstruation pads, feminine hygiene antiseptic washes, etc.
All the products bear the brand name Kotonella. In September 2009, the subject wanted to
register the trade mark Kotonella with the Trade Marks Registry,
Intellectual Property Development, the Government of the Hong Kong
SAR. But the registration have been
opposed. However, the trade mark has
been registered in a foreign country which is unknown to us.
The subject has had a number of associated companies in Canada,
Lithuania and Mexico, etc.
Jurgita Navalinskaite was graduated from Kauno Technologijos
Universitetas in 2002. She had been a
purchasing manager during the period of 2003 and 2006. She was responsible for the clothing and
footwear imports and purchases in RIVONA JSC.
The subject’s history in Hong Kong is about six years. Business in Hong Kong is not very active.
Since the subject does not have its own operating office and has no
employee in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
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 |
|
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.