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Report Date : |
07.10.2013 |
IDENTIFICATION DETAILS
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Name : |
HONG KONG KUN LUN INDUSTRY CO. LTD. |
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Registered Office : |
c/o Lianbang Int’l Business (HK) Ltd. Unit 04, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.07.2012 |
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Com. Reg. No.: |
60098029 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Dry yellow corn, rice, grains, food ingredient, other kinds
of foodstuffs, fertilizer, food additives. |
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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 : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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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
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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.
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Source
: CIA |
HONG KONG KUN LUN
INDUSTRY CO. LTD.
c/o Lianbang Int’l Business (HK) Ltd.
Unit 04, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong.
PHONE: 27935511
FAX: 35902333
Managing Director: Ms. Sheng Yong Juan
Incorporated on: 16th July, 2012.
Organization: Private Limited Company.
Capital: Nominal: HK$450,000.00
Issued: HK$450,000.00
Business Category: Agricultural
product and food ingredient trader.
Employees: Nil.
Main Dealing Banker: Bank of
China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Lianbang Int’l Business (HK) Ltd.
Unit 04, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong.
Associated
Company:-
Dahuachem International Corp.
Room 7, 21/F., Building D, Heping Modern City, 552 Zhongshan Road,
Shahekou, District, Dalian City, Liaoning Province, China.
[Tel: 86-411-8437 7627, Fax:
86-411-8437 7553]
60098029
1774141
Managing Director: Ms. Sheng Yong
Juan
Nominal Share Capital: HK$450,000.00 (Divided into 450,000 shares of
HK$1.00 each)
Issued Share Capital: HK$450,000.00
(As per registry dated 16-07-2012)
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Name |
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No. of shares |
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SHENG Yong Juan |
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450,000 ====== |
(As per registry dated 16-07-2012)
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Name (Nationality) |
Address |
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SHENG Yong Juan |
Unit 04, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong. |
(As per registry dated 16-07-2012)
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Name |
Address |
Co. No. |
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Lianbang Int’l Business (HK) Ltd. |
Unit 04, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong. |
1247280 |
The subject was incorporated on 16th July, 2012. 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: Agricultural product and food
ingredient trader.
Lines: Dry yellow corn, rice, grains, food
ingredient.
Employees: Nil.
Commodities Imported: India,
other Asian countries, etc.
Markets: China, other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$450,000.00
(Divided into 450,000 shares of HK$1.00 each)
Issued Share Capital: HK$450,000.00
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: Bank of China (Hong Kong) Ltd.,
Hong Kong.
Standing: Small.
Having issued 450,000 ordinary shares of HK$1.00 each, Hong Kong Kun Lun
Industry Co., Ltd. is wholly owned by Ms. Sheng Yong Juan who is a China
businesswoman. She is a China ID 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 “Unit 04, 7/F., Bright Way Tower, 33 Mong Kok
Road, Kowloon, Hong Kong” known as “Lianbang Int’l Business (HK) 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 an associated company known as
Dahuachem International Corp. [Dahuachem] which is in Dalian City, Liaoning
Province, China. Your given phone number
and fax number 86-411-8437 7627 and 86-411-8437 7553 respectively belong to
Dahuachem. The subject and Dahuachem are
engaged in the same lines of business.
Dahuachem is trading in the following commodities:-
Dry yellow corn, rice, grains, food ingredient, other kinds of
foodstuffs, fertilizer, food additives.
Currently, Dahuachem is importing 5,000 to 10,000 metric tons dry yellow
corn form the other Asian countries such as India monthly. Deliver term is CIF Dalian Port, Liaoning
Province, China. The contact person of
Dahuachem is Mr. Xu Ri.
The subject is a member of Dahua Group Ltd. [DGL]. Dahuachem has an associated company known as
Dahuachem International Economic & Trade Corporation [DIETC].
DIETC is a manufacturer and trader and can supply its customers with
chemicals such as inorganic chemicals, organic chemicals, intermediate,
dyestuffs.
DGL is an integration of industry and trade company engaged in importing
and exporting chemical products, equipment, spare parts and raw materials. Since the set up of DGL in 1987, it has
established trade relationships with over 80 countries and regions in Asia,
Europe and America. It is trading in 130
chemical products. In recent years, the
annual trading value has been about US$50 million.
It is likely that the Dahuachem deals with foreign parties under the
name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong.
Dahuachem 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 less than a year.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.41 |
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|
1 |
Rs.99.29 |
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Euro |
1 |
Rs.83.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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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 |
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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.