MIRA INFORM REPORT

 

 

Report Date :

08.03.2013

 

IDENTIFICATION DETAILS

 

Name :

HUEI-HO  INTERNATIONAL  CO.  LTD.

 

 

Formerly Known as:

Frame Consultant Co. Ltd

 

 

Registered Office :

c/o JBL Secretary Services Ltd., Room 1302, 13/F., CRE Building, 303 Hennessy Road, Wanchai, Hong Kong.

 

 

Country :

Hong Kong 

 

 

Date of Incorporation :

17.10.2003

 

 

Com. Reg. No.:

33994349

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Trader of all kinds of pharmaceuticals

 

 

No. of Employees :

Not available 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Dissolved

Payment Behaviour :

--

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 – 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

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'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

 

 

 

Company name     

 

HUEI-HO  INTERNATIONAL  CO.  LTD.

 

 

Company ADDRESS

 

Registered Office:-

c/o JBL Secretary Services Ltd.

Room 1302, 13/F., CRE Building, 303 Hennessy Road, Wanchai, Hong Kong.

 

Associated Company:-

Huei-Ho International Co. Ltd.

 

Shanghai Office

20B, No. 2, Lane 600, Peakway Tower, Tianshan Road, 200051 Shanghai, China.

Tel:       86-21-6273 7219, 6273 6279

Fax:      86-21-6273 5948

E-mail:  info@huei-ho.com

 

Nanjing Office

Room 1805, 18/F., Changfu Fenghua Tower, 75 Changfu Road, Nanjing 210002, China.

Tel:       86-15715146098

Fax:      86-25-8664 8817

 

 

BUSINESS REGISTRATION NUMBER

 

33994349

 

 

COMPANY FILE NUMBER

 

0866728

 

 

DATE OF INCORPORATION

 

17th October, 2003.

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital:     HK$10,000.00

 

 

SHAREHOLDER

(As per registry dated 17-10-2009)

 

Name

 

No. of shares

YAO Bing Xing

 

10,000

=====

 

 

DIRECTOR    

(As per registry dated 17-10-2009)

 

Name

(Nationality)

 

Address

YAO Bing Xing

Room 102, No. 44, Lane 5058, Dushi Road, Minhang, Shanghai, China.

 

 

SECRETARY

(As per registry dated 17-10-2009)

 

Name

Address

Co. No.

JBL Secretary Services Ltd.

Room 1302, 13/F., CRE Building, 303 Hennessy Road, Wanchai, Hong Kong.

0665319

 

 

GENERAL

 

Please be advised that Huei-Ho International Co. Ltd. was a private limited company which applied for deregistration in January 2010.  It was formally deregistered on 18th June, 2010, the date of the publication of Gazette Notice No. 3557.  The subject was accordingly dissolved on deregistration.

 

The subject was incorporated on 17th October, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.

 

Originally the subject was registered under the name of Frame Consultant Co. Ltd., name changed to Huei-Ho International Co. Ltd. on 13th August, 2004.

 

The subject did not have its own operating office.  Its registered office was in a commercial service firm located at Room 1302, 13/F., CRE Building, 303 Hennessy Road, Wanchai, Hong Kong known as JBL Secretary Services Ltd. which had handled its correspondences and documents.  JBL Secretary Services Ltd. was also the corporate secretary of the subject.

 

The subject was not located at your.

 

The subject had no employees in Hong Kong.

 

According to the Companies Registry of Hong Kong, the subject had issued 10,000 ordinary shares of HK$1.00 each which were wholly-owned by Mr. Yao Bing Xing who is a China merchant residing in Shanghai, China.  Holding a China ID card, he was also the only director of the subject.

 

To our knowledge, there is a firm in Shanghai, China bearing the same name [hereafter refers to “Huei-Ho”] as the subject.  Huei-Ho is still a live company in Shanghai, China.  Huei-Ho is trading in the following products:

 

All kinds of pharmaceuticals

·         APIs & Food Additives;

Customized Products;

Fine chemicals;

Machinery & Equipment for Pharmaceutical Manufacturing;

Pesticide intermediates; &

Pharmaceutical raw materials.

 

The subject had traded the same type of products as Huei-Ho.

 

Huei-Ho is carrying the following main commodities: Sodium Borohydride, Phenyl Ethyl Alcohol, 2,2,2-Trifluoro Ethanol, N, N-Dimethyl Carbamoyl Chloride, Para Hydroxy Acetophenone, Ortho Hydroxy Acetophenone, etc.  Huei-Ho’s chemicals are exported to Southeast Asia, Europe and North America.  Overall business is normal.

Huei-Ho has had an office in Nanjing City, Jiangsu Province, China.  Its factory in Shanghai has got the ISO 9001 certification.  It is likely that Mr. Yao Bing Xing is also the owner of Huei-Ho.

 

Huei-Ho dealt with foreign parties under the name and address of the subject in Hong Kong.

 

Since the subject has been dissolved by deregistration, consider it not suitable for any business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.74

UK Pound

1

Rs.82.14

Euro

1

Rs.71.27

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.