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Report Date : |
27.11.2013 |
IDENTIFICATION DETAILS
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Name : |
NHU (HONGKONG) TRADING CO. LTD. |
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Registered Office : |
c/o Teamwork Secretarial Co Ltd. 11/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.08.2006 |
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Com. Reg. No.: |
37071600 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is a fine chemical trader. |
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No. of Employees : |
No employees in Hong Kong [It is to be noted that
the company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.] |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hong Kong |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 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 |
NHU (HONGKONG)
TRADING CO. LTD.
Registered
Office:-
c/o Teamwork Secretarial Co Ltd.
11/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central, Hong
Kong.
Immediate Holding
Company:-
Zhejiang NHU Co. Ltd., China.
Ultimate Holding
Company:-
NHU Holding Group Co. Ltd., China.
Associated
Companies:-
Shandong Xinhecheng Pharmacentical Co. Ltd., China.
Shangyu NHU Biochemical Industry Co. Ltd., China.
Xinchang NHU Vitamin Co. Ltd., China.
Zhejiang NHU Import & Export Co. Ltd., China.
Zhejiang NVB Co. Ltd., China.
Zhejiang Sanpo Polyment Co. Ltd., China.
Zhejiang Vityesini Animal Nutrition & Health Co. Ltd., China.
Zhejiang Xindong Chemical Co. Ltd., China.
37071600
1068081
18th August, 2006.
Nominal Share Capital: HK$18,720,000.00
(Divided into 18,720,000 shares of HK$1.00 each)
Issued Share Capital: HK$18,720,000.00
(As per registry dated 18-08-2013)
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Name |
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No. of shares |
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Zhejiang NHU Co. Ltd. No, 4, Jiangbei Road, Chengguan Town, Xinchang County, Zhejiang
Province, China. |
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18,720,000 ======== |
(As per registry dated 18-08-2013)
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Name (Nationality) |
Address |
|
SHI Guanqun |
No, 4, Jiangbei Road, Chengguan Town, Xinchang County, Zhejiang
Province, China. |
(As per registry dated 18-08-2013)
|
Name |
Address |
Co. No. |
|
Teamwork Secretarial Co Ltd. |
11/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central, Hong
Kong. |
0248117 |
NHU (Hongkong) Trading Co. Ltd. was incorporated on 18th August, 2006 as
a private limited liability company under the Hong Kong Companies Ordinance.
The subject is a wholly-owned subsidiary of Zhejiang NHU Co. Ltd.
[Zhejiang NHU] which is a China-based and listed company. In turn Zhejiang NHU is a subsidiary company
of NHU Holding Group Co. Ltd. which is also a China-based company.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “11/F., Hong Kong Trade Centre, 161‑167 Des Voeux
Road Central, Hong Kong” known as “Teamwork Secretarial Co Ltd.” which is
handling its correspondences and documents.
This company is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
The director of the subject SHI Guanqun 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.
Established in 1999 and headquartered in Xinchang Zhejiang Province,
Zhejiang NHU is specialized in the production of bulk pharmaceutical chemicals,
medications, health products, food additives, feed additives and flavours and
aromas and it has modern production bases in Xinchang, Meizhu, Shangyu,
Shandong. In 2004, Zhejiang NHU was
listed as the first enterprise in Small-and Medium-sized Enterprises Board in
Shenzhen bearing stock code of 002001.
Zhejiang NHU has a state-level technology centre, a National
Post-doctoral Research & Development Centre, and has developed 13
state-level new products, 12 National Torch Plan Projects, 1 National Key
Technology Research & Development Program, 2 National Science and
Technology Support Programs, 2 National High Technology Research &
Development Program of China (863 Program) and obtained 54 patent licenses. NHU is a Chinese Famous Trademark, and
Vitamin feedstuffs branded NHU is a Chinese Famous Product. In 2011, the new green synthesis process and
industrialization of soluble Vitamins and carotenoid achieved the second prize
of the National Science and Technology Invention Award.
NHU will adhere to the professional way, focus in the field of fine
chemicals.
The subject is also a fine chemical trader.
According to Zhejiang NHU, the followings are the financial highlights
of the subject for the year ended 31st December, 2012:-
·
Net Assets:
RMB57.8 million Yuan;
·
Net Profit/(Loss):
(RMB6.6 million Yuan);
·
Sales Turnover:
RMB519.0 million Yuan; &
·
Total Assets:
RMB186.5 million Yuan.
The subject suffered from a loss in FY 2012.
SHI Guanqun is also the secretary of the board of directors of Zhejiang
NHU.
The subject’s business in Hong Kong is not active. History in Hong Kong is over seven 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.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.45 |
|
|
1 |
Rs.100.86 |
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Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.