|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
HONGHUI MOULD LTD. |
|
|
|
|
Registered Office : |
c/o Gorgeous Wealth Ltd. Room 1801, 18/F., Public Bank Centre, 120 Des Voeux Road Central, |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
03.02.2010 |
|
|
|
|
Com. Reg. No.: |
51777171 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Manufacturer of All kinds of moulds, etc |
|
|
|
|
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 : |
No Complaints |
|
|
|
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% 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,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. 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 |
HONGHUI MOULD LTD.
c/o Gorgeous Wealth Ltd.
Room 1801, 18/F., Public Bank Centre, 120 Des Voeux Road Central,
Hong Kong.
(Formerly located at:
c/o Steven Chan & Co., CPA
Room 2103, 21/F., Far East Consortium Building, 121 Des Voeux Road, Hong
Kong)
PHONE: 2191 3683
FAX: 2694 8597
Managing Director: Mr. Mou
Zhenghui
Incorporated on: 3rd February, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter
and Manufacturer.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONGHUI MOULD LTD.
Registered
Office:-
c/o Gorgeous Wealth Ltd.
Room 1801, 18/F., Public Bank Centre, 120 Des Voeux Road Central, Hong
Kong.
51777171
1419048
Managing Director: Mr. Mou
Zhenghui
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 03-02-2013)
|
Name |
|
No. of shares |
|
MOU Zhenghui |
|
10,000 ===== |
(As per registry dated 03-02-2013)
|
Name (Nationality) |
Address |
|
MOU Zhenghui |
Room 1801, 18/F., Public Bank Centre, 120 Des Voeux Road Central, Hong
Kong. |
(As per registry dated 03-02-2013)
|
Name |
Address |
Co. No. |
|
Gorgeous Wealth Ltd. |
Room 1801, 18/F., Public Bank Centre, 120 Des Voeux Road Central,
Hong Kong. |
0793737 |
The subject was incorporated on 3rd February, 2010 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the registered office of the subject was located at c/o Steven
Chan & Co., CPA, Room 2103, 21/F., Far East Consortium Building, 121 Des
Voeux Road, Hong Kong, moved to the present address in February 2012. The present address is the operating office
of a secretarial firm Gorgeous Wealth Ltd. which is an associated company of
Steven Chan & Co., a Hong Kong-registered accountant firm.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Manufacturer.
Lines: All
kinds of moulds, etc.
Employees: Nil.
Commodities Imported: China, other
Asian countries, etc.
Markets: China,
Japan, other Asian countries, US, 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$10,000.00
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: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Honghui Mould Ltd.
is wholly owned by Mr. Mou Zhenghui who is a China merchant. He is a China passport holder and does not
have the right to reside in Hong Kong permanently. He 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 1801, 18/F., Public Bank Centre, 120 Des Voeux
Road Central, Hong Kong” known as “Gorgeous Wealth Ltd.” which is handling its
correspondences and documents. Gorgeous
Wealth Ltd. is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
The subject is a mould manufacturer and trader. It is likely that the subject has got an
associated company in China which is also operated by Mou. Most of the moulds are sourced from the
manufacturers in China. Products are
exported to Japan, the other Asian countries, the United States, etc.
It is also 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 subject’s business in Hong Kong is not active. History in Hong Kong is over three 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.54.63 |
|
|
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.