MIRA INFORM REPORT

 

 

Report Date :

25.10.2013

 

IDENTIFICATION DETAILS

 

Name :

CHAINA  INTERNATIONAL  LTD.

 

 

Registered Office :

Unit 911, 9/F., Wayson Commercial Building, 28 Connaught Road West

 

 

Country :

Hongkong

 

 

Date of Incorporation :

14.03.2001

 

 

Com. Reg. No.:

31680873

 

 

Legal Form :

Not Available

 

 

Line of Business :

Subject is a technology & trading company engaged in the production and exportation of China production line for cable & wire industry as well as electrical equipment industry. 

 

 

No. of Employees :

No employees in Hong Kong

 

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.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

No Operating office in Hongkong

 

 

Payment Behaviour :

Unknown

 

 

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)

Hongkong

A2

A2

 

Risk Category

ECGC Classification

 

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

HONGKONG - 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

Company Name

 

CHAINA  INTERNATIONAL  LTD.

 

 

ADDRESS

 

Registered Office:-

c/o Victory Star Consultants Ltd.

Unit 911, 9/F., Wayson Commercial Building, 28 Connaught Road West, Hong Kong.

[Tel: 852-2875 7803;  Fax: 852-2875 7806]

 

Holding Company:-

Dreamland Ltd., Seychelles.

 

Associated Company:-

Beijing Holland Tech. Co. Ltd.

Room 2006, Building A, Vantone New World Square, No. 2 Fuwai Street, Xicheng District, Beijing 100037, China.

[Tel:      86 010 6803 2755, 6803 2756, 6803 2757

Fax:      86 010 6803 2878

E-mail:  sales@bjholland.com]

 

 

BUSINESS REGISTRATION NUMBER

 

31680873

 

 

COMPANY FILE NUMBER

 

0750225

 

 

DATE OF INCORPORATION

 

14th March, 2001.

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10,000,000.00

 

SHAREHOLDER

(As per registry dated 14-03-2013)

 

Name

 

No. of shares

Dreamland Ltd.

P.O. Box 1239, Offshore Incorporations Centre, Victoria, Mahe, Seychelles.

 

10,000,000

========

 

 

DIRECTOR

(As per registry dated 14-03-2013)

 

Name

Address

Co. No.

Dreamland Ltd.

P.O. Box 1239, Offshore Incorporations Centre, Victoria, Mahe, Seychelles.

-

 

 

SECRETARY

(As per registry dated 14-03-2013)

 

Name

Address

Co. No.

Victory Star Consultants Ltd.

Flat B, 14/F., Ka On Building, 8-14 Connaught Road West, Hong Kong.

1341787

 

 

MORTGAGE OR CHARGE

 

Date of Charge Over Accounts and Deposits:  04-08-2013

Amount:            To secure all monies in respect of banking facilities

Property:          In consideration of the Bank agreeing to grant or continuing to grant the Banking Facilities, the Chargor, as beneficial owner and by way of fixed charge, assigns, charges and pledges the “Charged Property” to Bank as a continuing security for the due payment and satisfaction of the Secured Moneys by the Chargor to the Bank on demand.

 

Schedule

 

Name of Chargor: Chaina International Ltd.

Charged Deposit Account No.: 094-673951-838

Mortgagee:       The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

 

GENERAL

 

Having issued 10 million ordinary shares of HK$1.00 each, Chaina International Ltd. is a wholly owned by Dreamland Ltd. [Dreamland] which is a Seychelles-registered firm.  Dreamland is also the director of the subject.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Flat B, 14/F., Ka On Building, 8‑14 Connaught Road West, Hong Kong known as Victory Star Consultants 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.

 

Your given phone number 91-9892820892 is an India mobile phone belongs to an Indian who may be Mr. Franc.

The subject has had an associated company in Beijing, China known as Beijing Holland Tech. Co. Ltd. [BHT].  The subject and BHT are engaged in the same lines of business.

 

BHT is a technology & trading company engaged in the production and exportation of China production line for cable & wire industry as well as electrical equipment industry.  There are around 70 people in the company. BHT is headquartered in Beijing with paid-in capital of RMB 2 million Yuan.

 

Along with the development of cable machine trading, BHT started to build up its own assembly facility and to conduct turnkey products in local market in 2010.  Its tubular and rage stranding machines and wire rod casting and rolling machines have gained market reputation.  The brand “BHD”, standing for “Beijing Holland” is becoming more and more popular in the market.

 

One newly established business is coal chemical project.  There are top engineers in the coal chemical field for project planning and operation management.  For complete coal chemical projects, the process design capacity is gained, from the agency agreement with Pazhihua Steel Design & Research Institute in Sichuan Province, China, which is the top Chinese engineering company in coal chemicals.

 

BHT has set up three overseas sales & service offices in India, Turkey, and Brazil.  With high quality service and performance, BHT has won the trust of its customers in the global market.

 

The followings are the machinery & equipment carried by BHT: Aluminium Rod Breakdown Drawing Machine, Double twist bunching machine, Extrusion Production Line, Upcasting Machinery, AI Cladding Production Line, Insulation Components Processing Machine, Insulating Plate Press, Batten Chamfering Machine, Block Processing Machine, Batten Shaping Insulator Processing Centre, Board Turning and Milling, Board Circular Shears, Board Bevelling Machine, Cylinder Rolling Machine, Board Cylinder Cohesion Machine, Electrostatic Ring Wrapping Machine, Winding Machine, Over Floor Vertical Winding Machine (BJ1LR/LD-NC), Pit Vertical Winding Machine (BJ1LR/DK-NC), Horizontal Winding Machine (BJ1WRX), Expandable Winding Mandrel, Auto Winding Displacement Winding Machine, Decoiler, Coil Life Device, Winding machine for distribution transformer, High Speed Notching Machine, BJD91K1 Series Numerical Control Notching Machine, BJD91 Series - Standard, Skip Function, Notching & Coiling Machine, Silicon Steel Lamination Deburring Machine, etc.

 

Machinery are marked in China, and exported to worldwide countries.  The business of BHT is normal in China.

The subject’s business in Hong Kong is not active.  History in Hong Kong is over twelve years and seven months.

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.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.99.53

Euro

1

Rs.84.82

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.