|
Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
LION FORESTRY LTD. |
|
|
|
|
Registered Office : |
Room 4305, 43/F., Tower One, Lippo Centre, 89 Queensway, Admiralty |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17.01.2003 |
|
|
|
|
Com. Reg. No.: |
33301465 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Exporter of Timber, log |
|
|
|
|
No of Employees : |
6 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
LION FORESTRY
LTD.
ADDRESS: Room 4305, 43/F., Tower One,
Lippo Centre, 89 Queensway, Admiralty, Hong Kong.
PHONE: 852-2523 5112, 2523 5116
FAX: 852-2537 1066
E-MAIL: lionforest@biznetvigator.com
General Manager: Mr. Jain Sudeep
Incorporated on: 17th January, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$10,000,000.00
Business Category: Importer
and Exporter.
Employees: 6.
Main Dealing Banker: Punjab
National Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
LION FORESTRY
LTD.
Registered Head
Office:-
Room 4305, 43/F., Tower One, Lippo Centre, 89 Queensway, Admiralty, Hong
Kong.
33301465
0829902
General Manager: Mr. Jain Sudeep
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
(As per registry
dated 17-01-2014)
|
Name |
|
No. of shares |
|
Mohammed Azim ALI |
|
9,999,999 |
|
Jaideep SHARMA |
|
1 |
|
|
|
––––––––– |
|
|
Total: |
10,000,000 ======== |
(As per registry
dated 17-01-2014)
|
Name (Nationality) |
Address |
|
Mohammed Azim ALI |
Pulau Li Hua, Lane 3, House #25B, 96000 Sibu, Sarawak, Malaysia. |
|
Anil Kumar SHARMA |
U A-57/5981 Jawahar Nagar, Kamla Nagar, Delhi, India. |
(As per registry
dated 17-01-2014)
|
Name |
Address |
Co. No. |
|
Karalon Ltd. |
31/F., 148 Electric Road, North Point, Hong Kong. |
0155628 |
The subject was incorporated on 17th January, 2003 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1602, 16/F., One Exchange
Square, Central, Hong Kong, moved to the present address in early 2011.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: Timber,
log, etc.
Employees: 6.
Commodities Imported: Malaysia, other
Asian countries, etc.
Markets: Hong
Kong, China, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
The Hong Kong General Chamber of Commerce, Hong Kong.
[Membership No. HKL0494]
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
Increase of Nominal Capital:-
|
From |
HK$5,000,000.00 |
to |
HK$10,000,000.00 |
on |
20-06-2011 |
Alternation of Issued Capital:-
|
Initially |
paid up |
HK$ 5,000,000.00 |
|
20-06-2011 |
paid up |
HK$ 5,000,000.00 |
|
|
|
––––––––––––––– |
|
Total: |
paid up |
10,000,000 ============== |
Mortgage or Charge: (See attachment)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a normal manner.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Punjab National Bank, Hong Kong Branch.
Bangkok Bank Public Co. Ltd., Hong Kong Branch.
Canara Bank, Hong Kong Branch.
UCO Bank, Hong Kong Branch.
Union Bank of India, Hong Kong Branch.
Standing: Good.
Lion Forestry Ltd. is almost wholly-owned by Mr. Mohammed Azim Ali. Ali is a Canada passport holder and currently
residing in Sarawak, Malaysia.
The subject increased its issued share capital to HK$10 million in 20th
June, 2011.
The directors of the subject are Mohammed Azim Ali and Anil Kumar
Sharma. The latter is an India passport
holder and residing in Delhi, India.
Incorporated in Hong Kong in January 2003, the subject is trading in
timber and log (mainly round timber logs and sawn timber). Most of the commodities are imported from
Malaysia. Prime markets are Hong Kong,
China, India, other Asian countries, etc.
It is likely that Ali, who is residing in Sarawak, is responsible for
the sourcing of timber in Sarawak as the region is rich in forestry
resources. Jaideep Sharma, old minor
shareholder of the subject, who is in India is responsible for the distribution
of timber in the country. It seems that
the subject has got affiliated companies both in Malaysia and India. Business is rather active.
In recent years, the subject also has been trading in plywood, veneer
panels, red meranti wood, pine logs, meranti wood logs, Gmelina wood, related
building materials and even furniture.
The subject has got banking facilities from Punjab National Bank by
depositing a sum of over US$3 million in the Bank.
The subject’s business is chiefly handled by Mr. Jain Sudeep who is an
Indian. He is also General Manager of
the subject.
The subject is a member of The Hong Kong General Chamber of Commerce,
Hong Kong. It joined in as a member
in 2006.
On the whole, having a history of over eleven years in Hong Kong,
the subject is considered good for normal business engagements.
|
Date |
Description
of Instrument |
Mortgagee |
|
23-11-2004 |
Undertaking
Relating to Deposits |
UCO Bank, Hong Kong Branch. |
|
26-04-2005 |
Undertaking
Relating to Deposits |
UCO Bank, Hong Kong Branch. |
|
22-11-2005 |
Charge Over
Deposit |
Bangkok Bank Public Co. Ltd., Hong Kong Branch. |
|
11-04-2007 |
Undertaking Relating
to Deposits |
UCO Bank, Hong Kong Branch. |
|
25-10-2007 |
Undertaking
Relating to Deposits |
UCO Bank, Hong Kong Branch. |
|
23-03-2009 |
Undertaking
Relating to Deposits |
Canara Bank, Hong Kong Branch. |
|
18-12-2009 |
Charge on Deposit
to secure the Depositor’s Obligations |
Punjab National Bank, Hong Kong Branch. |
|
30-03-2010 |
Undertaking
Relating to Deposits |
UCO Bank, Hong Kong Branch. |
|
30-03-2010 |
Charge on
Deposit |
Union Bank of India, Hong Kong Branch. |
|
15-03-2011 |
Charge on
Deposit |
Union Bank of India, Hong Kong Branch. |
|
30-05-2011 |
Undertaking
Relating to Deposits |
Canara Bank, Hong Kong Branch. |
|
06-12-2011 |
Charge on
Deposit to secure The Depositor’s Obligations |
Punjab National Bank, Hong Kong Branch. |
|
15-10-2012 |
Charge on
Deposit |
Union Bank of India, Hong Kong Branch. |
|
21-02-2013 |
Undertaking
Relating to Deposits |
Canara Bank, Hong Kong Branch. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.41 |
|
|
1 |
Rs. 103.42 |
|
Euro |
1 |
Rs. 82.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.