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Report Date : |
20.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL SINO TRADEX CO. LTD. |
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|
|
|
Registered Office : |
Room 708, 7/F., Kai Tak Commercial Building, 317-319 Des Voeux Road,
Central, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.01.2010 |
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Com. Reg. No.: |
53059638 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of garments, umbrella,
other textile products |
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No. of Employees : |
4 (Including associates) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – 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 |
INTERNATIONAL SINO
TRADEX CO. LTD.
ADDRESS :Room 708, 7/F., Kai Tak Commercial
Building, 317-319 Des Voeux Road, Central, Sheung Wan, Hong Kong.
PHONE : 852-2146 8308
FAX : 852-2146
8877, 2146 8100
E-MAIL :
betsy@alentinogroup.com
Managing Director: Mr. Alex
Kassen Fares
Incorporated on : 8th January, 2010.
Organization : Private Limited Company.
Capital: Nominal : HK$2,000,000.00
Issued :
HK$10,000.00
Business Category :
Importer, Exporter and Wholesaler.
Employees : 4.
(Including associates)
Main Dealing Banker : The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Banking Relation : Satisfactory.
INTERNATIONAL SINO
TRADEX CO. LTD.
ADDRESS:
Registered Head
Office:-
Room 708, 7/F., Kai Tak Commercial Building, 317-319 Des Voeux Road,
Central, Sheung Wan, Hong Kong.
Associated
Companies:-
Alentino Group Ltd., Hong Kong.
(Same address)
Alentino Tower Hotel Inc., Panama.
Group Alentino S.A., Panama.
Guangzhou Alentino Trading Co. Ltd., China.
53059638
1409823
Managing Director: Mr. Alex
Kassen Fares
Nominal Share Capital :
HK$2,000,000.00
(Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital :
HK$10,000.00
(As per registry dated 08-01-2013)
|
Name |
|
No. of shares |
|
Alex Kassen FARES |
|
10,000 ===== |
(As per registry dated 08-01-2013)
|
Name (Nationality) |
Address |
|
Alex Kassen FARES |
Room 1602, A2, Park 28, No. 28 Ma Chang Road, Zhujiang New Town,
Tianhe, Area, Guangzhou, China. |
(As per registry dated 08-01-2013)
|
Name |
Address |
Co. No. |
|
Alentino Group Ltd. |
Room 708, 7/F., Kai Tak Commercial Building, 317-319 Des Voeux Road
Central, Sheung Wan, Hong Kong. |
1522908 |
The subject was incorporated on 8th January, 2010 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 garments, umbrella, other textile products
Employees :
4. (Including associates)
Commodities Imported : China,
other Asian countries, etc.
Markets :
India, other Asian countries, Panama, etc.
Terms/Sales : L/C or as per contracted.
Terms/Buying : L/C, T/T, D/P, etc.
Nominal Share Capital :
HK$2,000,000.00
(Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital :
HK$10,000.00
Profit or Loss : Made a small profit in 2012.
Condition : Keeping in a satisfactory manner.
Facilities : Making rather active use of general banking
facilities.
Payment : Met trade commitments as required.
Commercial Morality : Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered Bank Hong Kong Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, International Sino
Tradex Co. Ltd. is wholly owned by Mr. Alex Kassen Fares who is a Panama
passport holder. He does not have the
right to reside in Hong Kong permanently.
He is also the only director of the subject. Most of the time, he is in Guangzhou,
Guangdong Province, China.
The subject is a garment trader.
It has had an associated company Alentino Group Ltd. [Alentino] which is
a Hong Kong-registered firm and located at the same address.
We can reach the subject at your given mobile phone number 852-9830
5267. According to an employee of the
subject, this phone number belongs to Mr. Alex Kassen Fares, however,
currently he is in Guangzhou, Guangdong Province, China.
The subject and Alentino are engaged in the same lines of business.
The subject is engaged in manufacturing umbrellas and rain gear for the
Brand Alentino in Latin America.
It is shipping about 7 million umbrellas annually to Latin America while
the prime market is Panama.
Besides umbrella, the subject is also engaged in manufacturing ready to
wear fashion garments. Products include
tops, knitted and woven wear, and denim for international brands.
The subject’s markets are Asian countries, Canada, the United States
(such as L.A., Miami, New York, etc.), Mexico, South America (Panama, Colombia,
Venezuela, Brazil) Poland, Spain, etc.
Most of the commodities are sourced from China.
The subject has had an associated company in Guangzhou known as
Guangzhou Alentino Trading Co. Ltd. [Guangzhou Alentino]. The subject and Guangzhou Alentino are
engaged in the same lines of business.
Currently, there are about 25 employees in Guangzhou Alentino.
Guangzhou Alentino was set up in January 2009. Most of the time, Mr. Alex Kassen Fares is in
China administering the business of Guangzhou Alentino.
The subject’s business is profitable and active. History in Hong Kong is over three years.
On the whole, consider the subject good for normal business engagements
in small credit amounts as its history in Hong Kong is short.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.23 |
|
|
1 |
Rs.100.18 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.