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Report Date : |
02.04.2014 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 has no tariffs
on imported goods, and it levies excise duties on only four commodities,
whether imported or produced locally: 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, its continued reliance on foreign trade and investment
leaves it vulnerable to renewed global financial market volatility or a
slowdown in the global economy. 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 12% of total system deposits in Hong
Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong
Kong property prices to rise rapidly; consumer prices increased by more than 4%
in 2013. 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. In
2013, Hong Kong and China signed new agreements under the Closer Economic
Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong
and the mainland. The new measures, effective from January 2014, cover services
and trade facilitation, and will improve access to the mainland's service
sector for Hong Kong-based companies.
|
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$10,000.00
Alternation of
Capital:-
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16-03-2009 |
paid up |
HK$ 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 |
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LV Hai’e |
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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)
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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.60.09 |
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UK Pound |
1 |
Rs.99.85 |
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Euro |
1 |
Rs.82.58 |
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.