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Report Date : |
30.01.2013 |
IDENTIFICATION DETAILS
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Name : |
RICKY TRADING COMPANY |
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Registered Office : |
Room 308, 3/F., Trend Centre, 29-31 Cheung Lee Street, Chai Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.01.2003 |
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Com. Reg. No.: |
30335130-001-08 |
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Legal Form : |
Sole Ownership |
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Line of Business : |
The subject is a dried aquatic products trader. It is dealing in maw, dried fish, sharks’ fins, dried shrimps, dried oysters, dried cuttle fish, abalone, dried molluscs and other aquatic invertebrates. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dormant |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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High |
B2 |
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Very High |
C1 |
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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
RICKY TRADING
COMPANY
(Operated by RICKY FISHMAW LTD.)
Address: Room 308, 3/F.,
Trend Centre,
29-31
Cheung Lee Street,
Chai Wan,
Hong Kong.
(Formerly located at:
Room 1403, 14/F., Cornell Centre,
50 Wing Tat Road, Chai Wan, Hong Kong.)
Associated Company:-
Ricky Trading Ltd., Hong Kong.
30335130-001-08
Manager: Mr. Mak Hung Tim, Ricky
Ricky Fishmaw Ltd., Hong Kong.
(See attachment)
The subject was established on 19th January, 2003 as a sole ownership firm
with Ricky Fishmaw Ltd. as the proprietor under the Hong Kong Business
Registration Regulations.
On 1st February, 1991, Mr. Ricky Mak Hung Tim and Ms. Salina Kam Mee Yu
set up the first Ricky Trading Company which was a partnership firm and bore
the Business Registration No. of 14284664.
However, this Ricky Trading Company ceased business formally on 31st
December, 2004.
On 5th November, 2003, Mr. Ricky Mak set up another Ricky Trading
Company which was operated by Ricky Trading Ltd. Bearing the Business Registration No. of
33998513-001, this Ricky Trading Company ceased business formally on 20th
September, 2004.
Formerly the subject was located at Room 1403, 14/F., Cornell Centre,
50 Wing Tat Road, Chai Wan, Hong Kong, moved to the present address with
effect from 18th December, 2010.
The subject has been dormant since August 2011.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Ricky Trading Company is the business name of Ricky Fishmaw Ltd.
[Ricky Fishmaw] which is also located at the subject’s operating
address. The subject moved to the
present address in mid-December 2010.
However, we found that the subject had been dormant since August 2011.
The subject’s phone and fax number 2896 7686 and 2896 3927 are no longer
in services.
The subject is a dried aquatic products trader. It is dealing in maw, dried fish, sharks’
fins, dried shrimps, dried oysters, dried cuttle fish, abalone, dried molluscs
and other aquatic invertebrates. Most of
the commodities are imported from Japan, India, China, Southeast Asia, Japan,
South America, etc. Prime markets are
Hong Kong, Japan, Europe, Australia, New Zealand, the other Asian
countries, etc.
Ricky Fishmaw was incorporated on 25th August, 1999 as a private limited
company equally owned by Mr. Ricky Mak Hung Tim and Ms. Salina Kam Mee Yu. Mak and Kam seem to be a couple. They are also directors of Ricky Fishmaw. However, we found that the directors resigned
on 15th August, 2011. The business
of Ricky Fishmaw has been dormant since then.
On 3rd October, 2003, Mr. Ricky Mak set up another firm Ricky Trading
Ltd. which is also located at the subject’s old operating address. Engaged in the same lines of business as the
subject, this firm set up an operating company which was also known as Ricky
Trading Company [RTC] on 5th November, 2003, but RTC ceased business formally
on 20th September, 2004.
To our knowledge, besides the subject and RTC, Mak and Kam had operated
a firm also known as Ricky Trading Company [Ricky TC] which was also located at
the subject’s old operating address.
Ricky TC’s Business Registration No. was 14284664. In February 2001, Ricky TC got a litigation
filed with the Hong Kong court concerning a dishonoured cheque involving in
HK$235,267.00. On 31st December, 2004,
Ricky TC ceased business.
The dishonoured cheque has affected the reputation of the subject
significantly.
Mak had a mobile phone bearing the number 9191 2032 but this number is
not in service.
Since the subject’s business has been dormant, consider it not suitable
for any business engagements.
Court case record:-
|
Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
26-02-2001 |
D3908 |
Edward Wong Credit Ltd. |
Kam Mee Yu trading as Ricky Trading Company [Under Business
Registration No. 14284664] and others |
Dishonoured Cheque |
HK$235,267 |
RICKY FISHMAW
LTD.
(Business name: RICKY TRADING COMPANY)
ADDRESS: Room 308, 3/F., Trend Centre,
29-31 Cheung Lee Street, Chai Wan, Hong Kong.
30335130
0686446
25th August, 1999.
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100,000.00
(As per registry dated 25-08-2010)
|
Name |
|
No. of shares |
|
MAK Hung Tim, Ricky |
|
50,000 |
|
KAM Mee Yu, Salina |
|
50,000 |
|
|
|
––––––– |
|
|
Total: |
100,000 ====== |
(As per registry dated 15-08-2011)
|
Name (Nationality) |
Address |
|
MAK Hung Tim, Ricky [Resigned on 15-08-2011] |
Flat B, 19/F., Tower 8, Island Resort, 28 Siu Sai Wan Road, Siu Sai
Wan, Hong Kong. |
|
KAM Mee Yu, Salina [Resigned on 15-08-2011] |
Flat B, 19/F., Tower 8, Island Resort, 28 Siu Sai Wan Road, Siu Sai
Wan, Hong Kong. |
(As per registry dated 23-08-2011)
|
Name |
Address |
Co. No. |
|
Jennings Ltd. [Resigned on 23-08-2011] |
Room 406, 4/F., Hua Qin International Building, 340 Queen’s Road
Central, Hong Kong. |
0371903 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.70 |
|
|
1 |
Rs.84.35 |
|
Euro |
1 |
Rs.72.21 |
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 |
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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 |
|
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.