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Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
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Name : |
CROWN LONG INTERNATIONAL TRADING LTD. |
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Registered Office : |
C/o Associated Consultants Ltd. Room D, 12/F., Seabright Plaza, 9-23 Shell Street, North Point |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.04.2011 |
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Com. Reg. No.: |
58181694 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Automobile fitting, hardware water pipe, electric appliances, textile and garment, case and bag and shoes and hats, etc. |
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No. of Employees : |
Not Available |
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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Status : |
No Operating Office in Hong Kong |
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Payment Behaviour : |
Usually Correct |
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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) |
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Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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'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
CROWN LONG
INTERNATIONAL TRADING LTD.
ADDRESS: c/o Associated Consultants
Ltd.
Room D, 12/F.,
Seabright Plaza, 9-23 Shell Street, North Point, Hong Kong.
PHONE: 2806 3686
FAX: 3008 5008
Managing Director: Ms. Ren Jing
Incorporated on: 4th
April, 2011.
Organization: Private
Limited Company.
Capital: Nominal: US$1,000,000.00
Issued: US$1.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
c/o Associated Consultants Ltd.
Room D, 12/F., Seabright Plaza, 9-23 Shell Street, North Point,
Hong Kong.
Associated Companies:-
Cixi Centre Electrical Appliances Co. Ltd., China.
Cixi Dayang Trading Co. Ltd., China.
Cixi Garden Houseware Co. Ltd., China.
Cixi Huicheng Trading Co. Ltd., China.
Cixi Janson Fashions Co. Ltd., China.
Cixi Kingsui Electric Co. Ltd., China.
Cixi Longtai Trading Co. Ltd., China.
Cixi Raistar Industrial Co. Ltd., China.
Cixi Sunway Trade Co. Ltd., China.
Gechi GmbH, Germany.
JIAR Travelware Co. Ltd., China.
Ningbo Cixi Import & Export Corporation Ltd., China.
Ningbo FIT Sanitary Ware Co. Ltd., China.
Ningbo Henei Arts & Crafts Co. Ltd., China.
Ningbo Homestar Electrical Appliances Co. Ltd., China.
Ningbo Kaicheng Bearing Manufacturing Co. Ltd., China.
etc.
58181694
1583407
Managing Director: Ms. Ren Jing
Nominal Share Capital: US$1,000,000.00 (Divided into 1,000,000 shares of
US$1.00 each)
Issued Share Capital: US$1.00
(As per registry dated 04-04-2012)
|
Name |
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No. of share |
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REN Jing |
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1 = |
(As per registry dated 04-04-2012)
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Name (Nationality) |
Address |
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REN Jing |
Zhangyiju Commission Bridge, Jiangdong District, Ningbo City, Zhejiang
Province, China. |
(As per registry dated 04-04-2012)
|
Name |
Address |
Co. No. |
|
Associated Consultants Ltd. |
Room D, 12/F., Seabright Plaza, 9-23 Shell Street, North Point, Hong
Kong. |
0466631 |
The subject was incorporated on 4th April, 2011 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: Importer,
Exporter and Wholesaler.
Lines: Automobile
fitting, hardware water pipe, electric appliances, textile and garment, case
and bag and shoes and hats, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: Southeast
Asia, Europe, North America, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: US$1,000,000.00 (Divided into 1,000,000 shares
of US$1.00 each)
Issued Share Capital: US$1.00
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:
Bank of
China (Hong Kong) Ltd., Hong Kong.
Standing:
Small.
Having issued just one ordinary share of US$1.00, Crown Long
International Trading Ltd. is wholly owned by Ms. Ren Jing who is a China
merchant.
She is a China passport holder and does not have the right to reside in
Hong Kong permanently. She 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 D, 12/F., Seabright Plaza, 9‑23 Shell
Street, North Point, Hong Kong known as Associated Consultants 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 a main associated company Ningbo
Cixi Import & Export Corporation Ltd. [NCIEC] which is in Cixi City,
Zhejiang Province, China.
The subject is engaged in the same lines of business as NCIEC.
Established in 1988, NCIEC is one of the China’s top 200 enterprises and
is a comprehensive foreign trading enterprise.
The company has been ranked as one of the top 500 enterprises with the
largest import and export value in China for 13 times, and has won the title of
‘national commercial system advanced group’ and ‘national foreign trading and
economic quality benefit advanced enterprise’ for many times.
NCIEC has been entitled to conduct foreign trading, freight forwarding,
etc. With the authorization of Ministry
of Foreign Affairs of the PRC, NCIEC has had the examination and approval right
of sending temporary personnel going abroad and inviting foreign economic trade
personnel to come to China.
NCIEC mainly operates the 6 types of products such as bearings and
automobile fittings, hardware water pipes, electric appliances, textiles and
garments, cases and bags, shoes and hats, etc.
Products are exported to over 120 countries and regions all over the
world, such as North America, the European Union, the Middle East, Hong Kong,
etc.
NCIEC also has got the ISO 9001, ISO 14001 and OHSAS 18001
certifications.
Besides, under NCIEC, there are over 20 subsidiaries, 2 comprehensive
industrial parks and over 10 productive enterprises. It also has had a number of domestic branches
in Shanghai, Ningbo, Hangzhou, etc., and has overseas office or production
enterprises in America, Russia, Vietnam, etc.
The total import and export value of NCIEC ranges from US$1.2 to 1.3
billion. Business is active and
profitable.
The subject is fully supported by NCIEC.
However, its business in Hong Kong is not active. History in Hong Kong is just about two 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.82.49 |
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Euro |
1 |
Rs.69.88 |
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.