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Report Date : |
09.10.2013 |
IDENTIFICATION DETAILS
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Name : |
HUISHENG INTERNATIONAL HOLDINGS LIMITED |
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Registered Office : |
Not Available |
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Country : |
Cayman Islands |
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Date of Incorporation : |
2011 |
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Legal Form : |
Limited Company |
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Line of Business : |
Offshore Company |
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No. of Employees : |
Not Available |
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 : |
International Business Company |
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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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Cayman Islands |
A1 |
A1 |
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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 |
CAYMAN ISLANDS - ECONOMIC
OVERVIEW
With no direct taxation, the islands are a thriving offshore financial center. More than 93,000 companies were registered in the Cayman Islands as of 2008, including almost 300 banks, 800 insurers, and 10,000 mutual funds. A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 1.9 million in 2008, with about half from the US. Nearly 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy a standard of living comparable to that of Switzerland.
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Source
: CIA |
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IDENTIFICATION |
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Ordered as: |
Huisheng International Holdings Limited |
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Address in the order: |
Cayman Islands |
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Comments on data supplied: |
The subject is an International Business Company (IBC), we could not
find the address or its Registered Agent, this information was not provided
in the order. |
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Legal Name: |
HUISHENG INTERNATIONAL HOLDINGS LIMITED |
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Legal Address |
N.A. |
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Country |
KY |
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Telephone: |
N.A. |
Registration Number : |
N.A. |
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Fax: |
N.A. |
Legal Form: |
Limited Company |
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Email: |
N.A. |
Registered in: |
KY |
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Website: |
N.A. |
Date Created: |
2011 |
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Manager: |
N.A. |
Date Incorporated: |
N.A. |
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Staff: |
0 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Offshore Company |
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Management: |
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It is locally managed by the registered agent, which we could not
find. |
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Legal
Fillings |
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The sources consulted record no
detrimental legal or labor court information. |
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Shareholders - Manager - Related Companies |
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Listed at the stock exchange: |
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NO |
Na
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Shareholders
Parent Company(ies): |
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The company is managed by foreign shareholders. Despite our long searches it has not been possible to identify the
shareholders. |
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Related
Companies: |
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Through outside sources we could learn that the subject would be
related to: HUI SHENG INTERNATIONAL (HK) HOLDINGS LIMITED Identification number:1656140 Business type Private Register date 05-AUG-2011 Active State Live Entity type Local Company However, the subject being an offshore company, the link could not be
verified. |
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Financials
- COMMERCIAL TRENDS AND FORECAST |
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As a private company the subject does not publish any financial
statements. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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USD |
2012 |
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Turnover |
0 |
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Operating Income |
5 900 000 |
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Net Income |
5 900 000 |
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Net worth |
10 000 000 |
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Bank liabilities |
0 |
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The cash flow is |
Normal |
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Na
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: British overseas territory - Parliamentary system
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Currency: Cayman Islands (KYD) 100(KYD)=121.95(USD) |
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Name of the Bank |
BARCLAYS BANK |
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Location |
Cayman Islands |
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Comments |
This information could not be verified with the subject company. |
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PRINCIPAL ACTIVITY |
Huisheng International Holdings Limited is an International Business
Company / Offshore Company incorporated in the Cayman Islands for tax purposes. However the company does not carry any operation in the Cayman
Islands. It is not registered with the Cayman Islands Chamber of Commerce as
being a local business. It is not listed with the Cayman Islands yellow pages. It is not listed with the major local credit bureaus. |
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Suppliers: |
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In virtue of the nature of its business activities its local
transactions are seldom. Therefore, commercial sources consulted in the marketplace report that
they are unable to establish subject's payment performance and general
reputation regarding commitments contracted as same it is UNKNOWN as making
use of credit facilities. |
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The subject employs 0 employee(s) |
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Comments on
staff: |
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The company does not have any employee in the Cayman Islands. It uses
the registered agent staff. |
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LOCATION |
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Headquarters |
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We did not find the Registered Agent after multiple searches. |
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Rating |
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Local credit bureau gave a normal credit rate. The company is in Good Standing. This means that all local and federal
taxes were paid on due date. |
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Profitability |
CORRECT |
Public |
NO |
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Indebtedness |
NIL |
Payments |
REGULAR |
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Cash |
NORMAL |
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Final Opinion |
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We are reporting an offshore company which belongs to foreign shareholders.
Although it is registered in the Cayman Islands, it uses such territory only
as its legal and administrative address, but all its operations are carried
out abroad. It is managed by a resident registration agent and it is unknown
in the marketplace, so its commercial morality and general reputation cannot
be assessed, although nothing detrimental is noted upon subject. We recommend a credit line for the amount of USD 265 000, based on the
financial information received from our banking sources. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.69 |
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|
1 |
Rs.99.20 |
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Euro |
1 |
Rs.83.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
---- |
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.