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Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
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Name : |
IRM INTERNATIONAL LLC |
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Registered Office : |
C/o Tricor Services Ltd. Level 28, Three Pacific Place, 1 Queen’s Road East |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.04.2011. |
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Com. Reg. No.: |
58229002 |
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Legal Form : |
Non-Hong Kong Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of wax, etc. |
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No. of Employees : |
Not Available |
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 : |
Unknown |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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
IRM INTERNATIONAL
LLC
(Incorporated in the United States of America)
Address: c/o Tricor
Services Ltd.
Level 28,
Three Pacific Place,
1 Queen’s
Road East,
Hong Kong.
PHONE: 2980 1190
FAX: 2865 2578
Authorized Representatives in Hong Kong:
Ms. Cheng Pik Yuk, Patsy
Ms. Wong Tak Yee, Cynthia
Registered in Hong Kong on: 14th April, 2011.
(Non-Hong Kong Company)
Organization: Limited
Company
Capital Provider: Provided by its Head Office.
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
2711 Centerville Road, Suite 400, Wilmington, Delaware 19808, U.S.A.
Hong Kong Principal Place of Business:-
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong.
58229002
F0018287
1.Ms. Cheng Pik Yuk, Patsy
[Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong.]
2.Ms. Wong Tak Yee, Cynthia
[Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong.
(As per registry dated 14-04-2012)
|
Name (Nationality) |
Address |
|
Robert Keith AUFHAUSER |
112 West, 56th Street, New York 10019, U.S.A. |
Nil (As per registry dated
14-04-2012)
The subject was incorporated in the United States
as a
limited company. It has established a principal
place of business in Hong Kong and was registered on 14th April, 2011 as a
Non Hong Kong company.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of wax, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: North
America, Central & South America, Europe, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C,
Advanced T/T, etc.
Capital:
Provided by
its Head Office.
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
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:
Small.
IRM International LLC is a Non-Hong Kong company which was incorporated
in the United States.
The subject has had two representatives in Hong Kong. The only director of the subject Mr. Robert
Keith Aufhauser is an American who is residing in the United States. He can be reached at the e-mail address:
keith@irmwax.com.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Level 28, Three Pacific Place, 1 Queen’s Road East,
Hong Kong known as Tricor Services Ltd. which is handling its correspondences
and documents.
The subject has no employees in Hong Kong. It head office is in the United States.
The subject is engaged in wax researching, technology developing, and
blending. Its products are components of
many items including: candles, artificial woods, crayons, modelling clay,
carbon paper, inks, water-resistant coatings, adhesives, cosmetics, dentures,
tires, paper cups, cheeses, matches, fire logs, arena footing, chewing gum,
explosives, particle board, refractory materials, cheese, emulsions, and
wrapping materials.
The subject has had an office in China which is administered by Mr. Wu
Chia Sheng who is a Chinese.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over a year and
ten months.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.65 |
|
|
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.71.21 |
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 |
|
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.