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Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
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Name : |
ENERGY SPORTS CO. LTD. |
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Registered Office : |
C/o Nathan Commercial Centre Group Ltd. Room 1401, 14/F., Cambridge House, 26-26 Cameron Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.04. 2006 |
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Com. Reg. No.: |
36620139 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Manufacturer of all kinds of sporting equipment. |
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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 |
|
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
ENERGY SPORTS
CO. LTD.
ADDRESS: c/o Nathan Commercial Centre
Group Ltd.
Room 1401, 14/F.,
Cambridge House, 26-26 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2770 3329
FAX: 852-2770 3362
E-MAIL: eric@energysports.net
Managing Director: Mr. Liu Ying
Xiang
Incorporated on: 4th April, 2006.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Nathan Commercial Centre Group Ltd.
Room 1401, 14/F., Cambridge House, 26-26 Cameron Road, Tsimshatsui,
Kowloon, Hong Kong.
Associated Companies:-
China Energy Sports Co., Ltd.
Room D, Block 3, Longwei Garden, Bai Guo Dong Management Area,
Zhangmutou Town, 523619 Dongguan City, Guangdong
Province, China.
[Tel: 86 769 8205 1550 Fax: 86
769 8903 2095
Mobile: +86 15622915888, 86
13826931777
E-mail: eric@energysports.net]
36620139
1035967
Managing Director: Mr. Liu Ying
Xiang
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 04-04-2013)
|
Name |
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No. of shares |
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LIU Ying Xiang |
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10,000 ===== |
(As per registry dated 04-04-2013)
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Name (Nationality) |
Address |
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LIU Ying Xiang |
Room D, Block 3, Longwei Garden, Bai Guo Dong Management Area,
Zhangmutou Town, Dongguan City, Guangdong Province, China. |
(As per registry dated 04-04-2013)
|
Name |
Address |
Co. No. |
|
Nathan Commercial Centre Group Ltd. |
Room 1401, 14/F., Cambridge House, 26‑26 Cameron Road,
Tsimshatsui, Kowloon, Hong Kong. |
0643000 |
The subject was incorporated on 4th April, 2006 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Energy Neoprene
Sporting Goods Co., Ltd., name changed to the present style on 27th July, 2007.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Manufacturer.
Lines: All
kinds of sporting equipment, etc.
Employees: Nil.
Commodities Imported: Imports raw
materials from European countries, some of the Asian countries and finished
products from China
Markets: Asian
countries, Europe, North America, etc.
Terms/Sales:
L/C or as per
contracted.
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$10,000.00
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:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Energy Sports Co.,
Ltd. is wholly owned by Mr. Liu Ying Xiang, Eric who is a China merchant. He 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.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 1401, 14/F., Cambridge House, 26-26 Cameron Road,
Tsimshatsui, Kowloon, Hong Kong” known as “Nathan Commercial Centre Group 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 an associated company China Energy
Sports Co., Ltd. [Energy Sports] which is in Dongguan City, Guangdong Province,
China.
Energy Sports is one of the leading Neoprene and Nylon Products
company. It has 3 factories in
China. The factories employ over 500
people. Energy Sports is now engaged in
the design, manufacturing, exporting and distributing a wide variety of
products including Water Sports Wetsuits, Diving Wetsuits, Float-suits, Medical
Supports, Sports and Fitness Supports, Fishing Waders, Gloves for
surfing/diving/fishing and hunting products.
Energy Sports also manufactures many kinds of Neoprene and Nylon related
Accessories such as Health Products, Cell-phone Covers, CD Cases and
Electronic/Computer Bag, Nylon Surfing Board Covers and Knit Surfing Board
Covers.
Energy Sports also provides customers with all kinds of Nylon and cotton
fashion bags, Eva moulded bags, Eva & Rubber Sandals, all kinds of belts,
wallets, fashion caps and baseball caps, knitted caps, etc.
Energy Sports has had the following product series:-
·
Belt series;
·
Cap series;
·
Fashion Bags series;
·
Medical supports series;
·
Neoprene diving products series;
·
Neoprene fishing products series;
·
Neoprene hunting products series;
·
Neprene wetsuit for diving and surfing series;
·
Sandals series;
·
Travel Bag Series,
·
Wading Shoe Series, etc.
Products are marketed in China, exported to the other Asian countries,
the European Union, North America, etc.
The business of Energy Sports is normal.
The business of Energy Sports is chiefly handled by Liu Ying Xiang
himself.
It is likely that the Energy Sports 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 seven 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.
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 |
|
US Dollar |
1 |
Rs.56.64 |
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|
1 |
Rs.86.68 |
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Euro |
1 |
Rs.73.97 |
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.