|
Report Date : |
19.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
HONGKONG OUJIANG HOLDING GROUP LTD. |
|
|
|
|
Registered Office : |
C/o ATA Corporate Formation & Management Ltd. Unit 1001, 10/F., Fourseas Building, 208-212 Nathan Road, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
24.03.2011. |
|
|
|
|
Com. Reg. No.: |
58133007 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Exporter of all kinds of iron & steel products |
|
|
|
|
No. of Employees : |
No Employee in Hong Kong (It is to be
noted that the company does not have its own operating office in Hong Kong.
The company uses the address of its secretariat as its correspondence address
only. Subject operates from some other country and does not have a base in
Hong Kong. Such companies are registered in Hong Kong just to tax benefit
purpose and due to the strict privacy laws prevailing in the country. In such
cases, the companies are not required to have any employees in Hong Kong nor
do have an office there.) |
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 |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong Kong by the
end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% 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,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. 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
HONGKONG OUJIANG
HOLDING GROUP LTD.
Address: c/o ATA
Corporate Formation & Management Ltd.
Unit 1001,
10/F., Fourseas Building,
208-212
Nathan Road, Kowloon,
Hong Kong.
(Your enquiry given as:
HONG KONG OUJIANG HOLDING GROUP LTD
and old address at:
c/o Hongkong Huasheng Registrations Ltd.
Room 1701, 17/F., Henan Building,
90 Jaffe Road, Wanchai, Hong Kong. )
PHONE: 852-2783 7818
FAX: 852-2783 7918
Managing Director: Mr. Zheng Libin
Incorporated on: 24th
March, 2011.
Organization: Private
Limited Company.
Capital: Nominal: HK$15,610,000.00
Issued: HK$15,610,000.00
Business Category: Iron & Steel Trader.
Employees:
Nil.
Main Dealing Banker: ING Bank N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Office:-
c/o ATA Corporate Formation & Management Ltd.
Unit 1001, 10/F., Fourseas Building, 208-212 Nathan Road, Kowloon, Hong
Kong.
Associated Companies:-
Shanghai Oujiang Holding Group Ltd., China.
Wuxi Xianggong Industrial Enterprise Co. Ltd., China.
58133007
1578548
Managing Director: Mr. Zheng
Libin
Nominal Share Capital: HK$15,610,000.00 (Divided into 15,610,000 shares
of HK$1.00 each)
Issued Share Capital: HK$15,610,000.00
(As per registry dated 24-03-2013)
|
Name |
|
No. of shares |
|
ZHENG Leou |
|
15,610,000 ======== |
(As per registry dated 28-03-2013)
|
Name (Nationality) |
Address |
|
ZHENG Libin |
Huangpu Village, Huanghua Town, Yueqing, Zhejiang, China. |
|
ZHENG Leou |
Huang Pu Cun, Huang Hua Town, Yue Qing, Zhejiang Province, China. |
(As per registry dated 16-05-2013)
|
Name |
Address |
Co. No. |
|
ATA Corporate Formation & Management Ltd. |
Unit 1001, 10/F., Fourseas Building, 208‑212 Nathan Road,
Kowloon, Hong Kong. |
0768611 |
The subject was incorporated on 24th March, 2011 as a private limited
liability company under the Hong Kong Companies Ordinance.
The second last time, the subject’s registered address was located at
“Room 1701, 17/F., Henan Building, 90 Jaffe Road, Wanchai, Hong Kong” where was
the operating address of a secretarial firm Hongkong Huasheng Registrations
Ltd., moved to “Suite 1503, 15/F., Carnival Commercial Building, 18 Java Road,
North Point, Hong Kong” where was the operating office of a commercial service
provider Topful Consultants Co. Ltd. in March 2013, moved to the present
address in May 2013 where is the operating office of a commercial service
provider ATA Corporate Formation & Management Ltd.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer and Exporter.
Lines: All kinds of iron &
steel products.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: Asian countries, Europe, North
America, etc.
Terms/Sales:
As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$15,610,000.00 (Divided into 15,610,000
shares of HK$1.00 each)
Issued Share Capital: HK$15,610,000.00
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:
ING Bank
N.V., Hong Kong Branch.
Standing: Small.
Having issued 15,610,000 ordinary shares of HK$1.00 each, Hongkong
Oujiang Holding Group Ltd. is wholly owned by Mr. Zheng Leou who is a China
merchant. He and Mr. Zheng Libin are the
directors of the subject. Currently,
both are residing in Zhejiang Province, China.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Unit 1001, 10/F., Fourseas Building, 208-212 Nathan
Road, Kowloon, Hong Kong.”known as “ATA Corporate Formation &
Management Ltd.” which is handling its correspondences and documents. This firm is also the corporate secretary of
the subject.
The subject has no employees in Hong Kong. It has had the following two associated
companies in China:-
Wuxi Xianggong Industrial Enterprise Co. Ltd. [Xianggong]
Shanghai Oujiang Holding Group Ltd. [SH Oujiang]
Xianggong is a subsidiary company of SH Oujiang. Xianggong is trading in iron and steel
materials. These includes hot and cold
-rolled steel materials, iron and steel products for automobiles and
shipbuilding, etc.
The subject is also an iron & steel material trader.
SH Oujiang is trading in iron & steel materials, electronic
telecommunication equipment, etc. It is
engaged in diversified economy.
Now, SH Oujiang has set up open yards in Shanghai and Zhejiang Province
for storing iron & steel materials.
Sales networks have been set up in large cities such as Ningbo, Wenzhou,
Zhoushan, Nanjing, Wuxi, Nantong, Zhangjiagang, Jinan, etc.
SH Oujiang has developed business ties with the following
shipyards: Pacific Ocean Shipbuilding
Group, Hantong Heavy Industry, Jinhai Heavy Industry, Zhonghai Heavy Industry,
etc.
SH Oujiang has had the following suppliers in China:-
Anshan Iron & Steel Co., Maanshan Iron & Steel Co., Jinan Iron
& Steel Co., Rizhao Iron & Steel Co., Shagang, Shoudu Iron & Steel
Co., Hebei Iron & Steel Group Corporation, Ninggang, Banxi Iron & Steel
Co., Tangshan Iron & Steel Co., Shandong Iron & Steel Group
Corporation, etc.
Besides marketing in China, iron and steel products are also exported to
the other Asian countries, Europe, North America, etc. Business is active.
The subject is fully supported by SH Oujiang, history in Hong Kong is
just over two 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 |
|
26-08-2011 |
Instrument: Charge Over Deposit Property: The Deposit as beneficial owner, by way of first fixed charge, charges
in favour of the Bank, as security for the payment and discharge of the
Secured Obligations all of its right, title and interest in and to the
Deposits Mortgagee: ING Bank N.V., Hong Kong Branch. |
All monies |
|
06-06-2012 |
Instrument: Charge on Cash Deposit to secure
liabilities of the Depositor Property: 1) By way of first
fixed charge and agreement to charge: The Deposit and all right, title and interest of the Company
whatsoever, present and future, thereto and therein, together with any
certificates of deposit or other instruments or securities evidencing title,
or otherwise relating, thereto and any account to which the same is credited 2) By way of set-off: Any sum standing to the credit of any one or more of the account of
the Company with the Bank (whether current, deposit, loan or of any other
nature whatsoever and whether subject to notice or not and whether such sum
or sums is unmeasured deposits and including, without limitation, the account
to which the Deposit is credited) whosesoever situate Mortgagee: DBS Bank (Hong Kong) Ltd.,
Hong Kong. |
All sums of money & liabilities |
NOTE :
It is to be
noted that the company does not have its own operating office in Hong Kong. The
company uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong Kong.
Such companies are registered in Hong Kong just to tax benefit purpose and due
to the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.71 |
|
|
1 |
Rs.90.59 |
|
Euro |
1 |
Rs.78.22 |
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.