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Report Date : |
09.10.2013 |
IDENTIFICATION DETAILS
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Name : |
HEALTH
CREATION INDUSTRIAL LTD. |
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Registered Office : |
c/o Richful Deyong Corporate Management Ltd. Room 1105, 11/F., Lippo Centre Tower 1, 89 Queensway, Admiralty |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.03.2009 |
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Com. Reg. No.: |
50727206 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of Health products, body care products & chemical raw materials |
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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 |
HEALTH CREATION
INDUSTRIAL LTD.
Registered
Office:-
c/o Richful Deyong Corporate Management Ltd.
Room 1105, 11/F., Lippo Centre Tower 1, 89 Queensway, Admiralty, Hong Kong.
[Tel: 852-2537 7886; Fax: 852-2537 7780]
50727206
1317401
16th March, 2009.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Alternation of
Capital:-
|
16-03-2009 |
paid up |
HK$ 1.00 |
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01-06-2009 |
paid up |
HK$ 9,999.00 |
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––––––––––––– |
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Total: |
paid up |
HK$10,000.00 ============ |
(As per registry
dated 16-03-2013)
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Name |
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No.
of share |
|
LV Hai’e |
|
10,000 ===== |
(As per registry
dated 16-03-2013)
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Name (Nationality) |
Address |
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LV Hai’e |
Lan Qin Ge 6B, Shekou Lanyi
Garden, Nanshan District, Shenzhen, China. |
(As per registry
dated 16-03-2013)
|
Name |
Address |
Co.
No. |
|
Joy Enterprise Secretary Services Ltd. |
Room 19C, Lockhart Centre, 301-307 Lockhart Road, Wanchai,
Hong Kong. |
1336601 |
Health Creation Industrial Ltd. was incorporated on 16th March, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 1105, 11/F., Lippo Centre Tower 1, 89 Queensway, Admiralty, Hong Kong known as Richful Deyong Corporate Management Ltd. [Richful Deyong] which is handling its correspondences and documents. The associate of Richful Deyong Joy Enterprise Secretary Services Ltd. is the corporate secretary of the subject. This firm is also located at the above-mentioned address.
Formerly the subject’s registered address was located at Room 1001-1004A, 10/F., Champion Building, 287-291 Des Voeux Road Central, Hong Kong where is the operating address of Gateway Registrations Ltd. which was also a commercial service provider. Moved to Unit A, 5/F., Max Share Centre, 373 King’s Road, North Point, Hong Kong where was the operating address of EF Secretarial Ltd. with effect from 1st June, 2009 as the subject had changed its secretarial firm since then. It further moved to the present address in January 2010 as it has changed its secretarial firm again.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each of which are wholly owned by Ms. Lv Hai’e who is a China businesswoman. Being a China ID Card holder, she is also the only director of the subject. Currently, Lv is residing in Shekou, Shenzhen Special Economic Zone, China.
The subject is
trading in the following products:-
Health products, body care products, chemical raw materials
Commodities are chiefly imported from Europe and sourced from China. Prime markets are China, the other Asian countries, etc. Business is fairly active.
To our knowledge, the subject has had an Indian customer known as Kopran Limited which is in Mumbai, Maharashtra, India. This firm has imported chemicals from the subject such as Erythromycin Thiocyanate, etc.
Lv cannot be reached as she is in Shenzhen Special Economic Zone, China. Her registered address in China is in a private building.
The subject may have got an associated company in Shenzhen SEZ, China operated by Lv. The Shenzhen firm, may bear the same name as the subject, is engaged in the same lines of business.
The Shenzhen 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 Shenzhen firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong. The Shenzhen firm may not have registered with the Chinese Government.
The subject has been banking with Standard Chartered Bank (Hong Kong) Ltd. However, its business in Hong Kong is not active.
The history of the subject in Hong Kong is just over four years.
Since the subject does not have its own operating office and has no employees in Hong Kong, on the whole, 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.61.69 |
|
UK Pound |
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.83.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
<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.