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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
V. ROAD HOLDING LTD. |
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Registered Office : |
Flat B, 13/F., Tsang Cheung House, 444-446 Nathan Road, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.08.2007. |
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Com. Reg. No.: |
38308941 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of handbags, briefcase, suitcase & luggage, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
|
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
V. ROAD
HOLDING LTD.
ADDRESS: Flat B, 13/F., Tsang Cheung House,
444-446 Nathan Road, Kowloon, Hong Kong.
PHONE: Not available
Managing Director: Ms. Chen Ji
Incorporated on: 16th
August, 2007.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
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:-
Flat B, 13/F., Tsang Cheung House, 444-446 Nathan Road, Kowloon, Hong
Kong.
Affiliated Company:-
Brisk Business (HK) Co. Ltd.
Flat C, 12/F., 444-446 Nathan Road, Yau Ma Tei, Kowloon, Hong Kong.
[Tel.: 2770 6861; Fax: 2710 9391]
38308941
1159120
Managing Director: Ms. Chen Ji
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 16-08-2012)
|
Name |
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No. of share |
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LI Zhen Qiang |
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1 = |
(As per registry dated 16-08-2012)
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Name (Nationality) |
Address |
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CHEN Ji |
Room 1101A, 11/F., Causeway Bay Commercial Building, 1‑5 Sugar
Street, Causeway Bay, Hong Kong. |
|
ZHOU Yue Ping |
Room 1101A, 11/F., Causeway Bay Commercial Building, 1‑5 Sugar
Street, Causeway Bay, Hong Kong. |
(As per registry dated 16-08-2012)
|
Name |
Address |
|
WONG Kong Yu |
Flat C, 12/F., Tsang Cheung House, 444-446 Nathan Road, Kowloon, Hong
Kong. |
The subject was incorporated on 16th August, 2007 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: All
kinds of handbags, briefcase, suitcase & luggage, etc.
Employees: Nil.
Commodities Imported: China, etc.
Markets: Asian
countries, etc.
Terms/Sales:
L/C, T/T, etc.
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$1.00
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: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued just one ordinary share of HK$1.00, V. Road Holding Ltd.
is wholly owned by Mr. Li Zhen Qiang who is a China merchant.
The subject’s registered address is in a private building located at
Flat B, 13/F., Tsang Cheung House, 444-446 Nathan Road, Kowloon, Hong Kong.
The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
The directors of the subject are Ms. Chen Ji and Ms. Zhou Yue Ping, both
are China businesswomen. Their
registered address in Hong Kong located at Room 1101A, 11/F., Causeway Bay
Commercial Building, 1-5 Sugar Street, Causeway Bay, Hong Kong is the operating
office of an accountant firm Samson Y. C. Chan & Co., CPA.
The two directors are China ID holders and does not have the right to
reside in Hong Kong permanently.
According to the subject, it is a property investor in Hong Kong. However, it is closely related to a company
Brisk Business (HK) Co. Ltd. [Brisk].
Brisk is trading in the following products: handbag - leather &
suede (OEM), briefcase - leather (OEM), suitcase & luggage - leather (OEM),
wallet & purse - leather (OEM).
The subject also trades in the same products, more or less. Besides Brisk is an associated company of
Lesly Handbag Mfg. Co., Ltd. [Lesly].
Lesly is a foreign-based corporation which is engaged in designing,
manufacturing and selling lady fashion handbags made of PVC, PU leather (also
including: Denim, Canvas materials). Its
factory is located in Dongguan City, Guangdong Province, China which occupies a
total area of 12,000 sq.m. The factory
has more than 1,100 skilled workers and has been equipped with advanced
equipment.
The products widely marketed in Europe, the United States, Asian
countries, Africa, etc. There are over
1,600 different designs displayed in the showroom of the factory. Brisk and Lesly also receive OEM orders.
The subject’s business in Hong Kong is not active. History in Hong Kong is over five years and
seven months.
Since the registered office of the subject is in a residential building,
on the whole, consider it good for normal business engagements on L/C basis or
in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
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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 |
|
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.