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Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
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Name : |
ROLLING UNIVERSAL LTD. |
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Registered Office : |
C/o Seactax Ltd. Room 1705-1706, 17/F., Kai Tak Commercial Building, 317-319 Des Voeux Road Central, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.05.2012. |
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Com. Reg. No.: |
59821374 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and WholesaleR of 3M adhesive paper, PE foam paper, EVA foam paper, PET/PVC double-sided adhesive tape |
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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
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
No Operating Office in Hong Kong |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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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 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
ROLLING UNIVERSAL
LTD.
Address: c/o Seactax Ltd.
Room 1705-1706,
17/F., Kai Tak Commercial Building,
317-319 Des
Voeux Road Central,
Sheung Wan,
Hong Kong.
PHONE: 852-2541 3888
FAX: 852-2541 2743
Managing Director: Mr. Lu Guang
Ming
Incorporated on: 18th
May, 2012.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Seactax Ltd.
Room 1705-1706, 17/F., Kai Tak Commercial Building, 317-319 Des Voeux
Road Central, Sheung Wan, Hong Kong.
Associated Companies:-
Dongguan Huangjiang Minghao Adhesive Products Co.
Dongguan Yinghao Electronic Technology Co. Ltd.
Note: Both are located at:
8-10 Baolong Second Street, Huangjiang Town, 523756 Dongguan City,
Guangdong Province, China.
[Tel: 86-769-8709 6038 Fax:
86-769-8709 6039]
59821374
1746578
Managing Director: Mr. Lu Guang
Ming
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 18-05-2013)
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Name |
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No. of share |
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LU Guang Ming |
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1 = |
(As per registry dated 18-05-2013)
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Name (Nationality) |
Address |
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LU Guang Ming |
No. 5, Dong Huan Road 2, Huangjiang Town, Dongguan,. China. |
(As per registry dated 18-05-2013)
|
Name |
Address |
Co. No. |
|
Seactax Ltd. |
Room 1705-1706, 17/F., Kai Tak Commercial Building, 317-319 Des Voeux
Road Central, Sheung Wan, Hong Kong. |
0071908 |
The subject was incorporated on 18th May, 2012 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: 3M
adhesive paper, PE foam paper, EVA foam paper, PET/PVC double-sided adhesive
tape.
Employees: Nil.
Commodities Imported: China, other Asian countries, Europe, etc.
Markets: China,
other Asian countries, US, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: As
per contracted.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Too early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly 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 just one ordinary share of HK$1.00 each, Rolling Universal
Ltd. is wholly owned by Mr. Lu Guang Ming who is a China merchant.
Formerly the single share was held by True Friendship Ltd. which was a Hong
Kong-registered firm. This firm
transferred its single share to Lu on 9th April, 2013.
Lu is a China passport holder and does not have the right to reside in
Hong Kong permanently. He is also
the only director of the subject.
Currently, he is residing in Huangjiang Town, Dongguan City, Guangdong
Province, China.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 1705-1706, 17/F., Kai Tak Commercial Building,
317-319 Des Voeux Road Central, Sheung Wan, Hong Kong” known as “Seactax
Ltd.” which is handling its correspondences and documents. Seactax Ltd. is also the corporate secretary
of the subject.
The subject has no employees in Hong Kong.
To our knowledge, the subject has had the following two associated
companies in Dongguan City, Guangdong Province, China:-
1.
Dongguan Yinghao Electronic Technology Co. Ltd.
[Yinghao]
2.
Dongguan Huangjiang Minghao Adhesive Products Co.
[Minghao]
The subject, Yinghao and Minghao are engaged in the same lines of
business, more or less. The two China
firms are also managed and operated by Lu Guang Ming.
Employing about 30 employees, Yinghao was established in 2008.
It is trading in the following commodities:-
3M adhesive paper, PE foam paper, EVA foam paper, PET/PVC double-sided
adhesive tape, etc.
Yinghao is engaged in manufacturing all kinds of double-sided adhesive
tapes. The factory of Yinghao covers an
area of 1,000 sq.m. and its monthly production capacity is about 100,000 rolls. Products are marketed in China and exported
to the other Asian countries, Europe and the United States. Business is normal.
The annual sales turnover of Yinghao ranges from RMB3 to 4 million Yuan.
It is likely that the China firm deals with foreign parties under the
name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong. The
China firm also exports commodities to foreign markets under the name of the
subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over a year.
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.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.59.44 |
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|
1 |
Rs.91.24 |
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Euro |
1 |
Rs.78.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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<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 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.