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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
HONGKONG PERCIVAL
CO. LTD. |
|
|
|
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Registered Office : |
Suite 1001-1002, 10/F., Albion Plaza, 2-6 Granville Road, Tsimshatsui,
Kowloon |
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|
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Country : |
Hong Kong |
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Date of Incorporation : |
21.01.2011 |
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Com. Reg. No.: |
53656535 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of plastic
raw materials such as HDPE, etc. |
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|
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating office in Hong Kong |
|
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 (31.03.2012) |
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 |
HONGKONG
PERCIVAL CO. LTD.
c/o Larich Ltd.
Suite 1001-1002,
10/F., Albion Plaza, 2-6 Granville Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2724 1223
FAX: 2722 4373
Managing
Director: Mr. Qian Hongbin
Incorporated on: 21st January, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONGKONG
PERCIVAL CO. LTD.
Registered
Head Office:-
c/o Larich Ltd.
Suite 1001-1002,
10/F., Albion Plaza, 2-6 Granville Road, Tsimshatsui, Kowloon, Hong Kong.
53656535
1554927
Managing
Director: Mr. Qian Hongbin
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 21-01-2013)
|
Name |
|
No.
of shares |
|
QIAN Hongbin |
|
10,000 ===== |
(As per registry dated 21-01-2013)
|
Name (Nationality) |
Address |
|
QIAN Hongbin |
Room 101, No. 42, Lane 211, Xujacao Road,
Haishu District, Ningbo City, Zhejiang Province, China. |
(As per registry dated 21-01-2013)
|
Name |
Address |
Co.
No. |
|
Larich
Ltd. |
Suite 1001-1002, 10/F., Albion Plaza, 2-6 Granville Road, Tsimshatsui,
Kowloon, Hong Kong. |
0437591 |
The
subject was incorporated on 21st January, 2011 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the registered address of the subject was located at Room 1005, 10/F., Tower 1,
Lippo Centre, 89 Queensway, Admiralty, Hong Kong, moved to the present address
in November 2012. The subject moved to
the present address as it has changed its commercial service provider since
then.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of plastic raw materials such as HDPE, etc.
Employees: Nil.
Commodities Imported: China, Europe, etc.
Markets: Japan, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
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: Is making use of general banking facilities.
Payment: Unknown.
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, HongKong Percival Co., Ltd. is
wholly owned by Mr. Qian Hongbin who is a China merchant.
He
is a China ID 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 Zhejiang Province, China.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Suite
1001-1002, 10/F., Albion Plaza, 2‑6 Granville Road, Tsimshatsui, Kowloon,
Hong Kong known as Larich Ltd. which is handling its correspondences and
documents. Larich Ltd. is also the
corporate secretary of the subject.
The
subject has no employees in Hong Kong.
It is trading in all kinds of plastic raw materials such as HDPE,
etc. Products are marketed in China,
exported to Europe, the United States.
It has had an associated company in Ningbo City, Zhejiang Province,
China. The China firm trades in the
following plastic raw materials: PB-1, PA, PC, PETB, PBT, PET, PPS, PVC, ABS,
ASA, EVA, GPPS, K(Q), LCP, PSU, EPP, TPE, TPR, TPE, TPEE, TPV, TPO, PP, CA,
CAB, CAP, CN, PTFE, FEP, POM, HDPE, LDPE, LLDPE, PMP, PPO, HIPS, etc.
On
of the subject’s US customers is Hongtai Trading Inc. which is in
New York.
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 China firm is
also operated by Mr. Qian Hongbin.
The
subject’s business in Hong Kong is not active.
History in Hong Kong is just over two years and a month.
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.54.37 |
|
|
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.