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Report Date : |
04.03.2013 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN RICH
LOGISTICS LTD. |
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Registered Office : |
3678 Hong Wan Road, Tsing Yi, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
25.02.2004 |
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Com. Reg. No.: |
34312237 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Logistic Service Provider |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Moderate |
B1 |
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High |
B2 |
|
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'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 |
GOLDEN RICH
LOGISTICS LTD.
ADDRESS: 3678 Hong Wan Road, Tsing Yi, New
Territories, Hong Kong.
PHONE: 2659 5886, 2495 0109
FAX: 2659 5048, 2659 5038
Managing
Director: Ms. Kwok Wai Kwan
Incorporated
on: 25th
February, 2004.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category:
Logistic Service Provider.
Employees: 8.
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered
Head Office:-
3678 Hong Wan
Road, Tsing Yi, New Territories, Hong Kong.
34312237
0884716
Managing
Director: Ms. Kwok Wai Kwan
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 25-02-2012)
|
Name |
|
No.
of shares |
|
KWOK Wai Kwan |
|
10,000 ===== |
(As
per registry dated 25-02-2012)
|
Name (Nationality) |
Address |
|
KWOK Wai Kwan |
Room 3109, 31/F., Sau Yat House, Sau Mau Ping
Estate, Kwun Tong, Kowloon, Hong Kong. |
(As
per registry dated 25-02-2012)
|
Name |
Address |
|
LEE
Hung Ching |
Flat D, 32/F., Block 3, Chestwood Court, Kingswood Villas,
Tin Shui Wai, New Territories, Hong Kong. |
The
subject was incorporated on 25th February, 2004 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 &
Lines: Logistic
Service Provider.
Employees: 8.
Commodities
Imported: Not Applicable.
Business
Territories: Hong Kong,
China, etc.
Terms/Sales/Services: CAD or 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$10,000.00
Indebtedness: HK$4,092,343.00 (Total amount outstanding on all mortgages
and charges as per
last Annual Return dated 25-02-2012)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a
satisfactory manner.
Facilities: Is making use of general
banking facilities.
Payment: Met trade commitments
as required.
Commercial
Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having
issued 10,000 ordinary shares of HK$1.00 each, Golden Rich Logistics Ltd. is
wholly owned by Mr. Kwok Wai Kwan who is a Hong Kong businesswoman. She is also the only director of the subject.
The
subject is a small logistic service provider in Hong Kong.
It
is engaged in the following business scope:-
·
Shipping;
·
Road Transportation in Hong Kong;
·
Customs Declaration;
·
Transporting goods from China to
Hong Kong; &
·
Container Transportation.
The
subject’s business is chiefly handled by Kwok Wai Kwan herself who can be
reached at her mobile phone number.
Business is fairly active.
History in Hong Kong is over nine years.
It is able to maintain a number of regular clients in Hong Kong.
On
the whole, consider it good for normal business engagements in small credit
amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
UK Pound |
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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.