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Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
c/o SBC
Corporate Services Ltd. Unit 503, 5/F., |
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Country : |
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Date of Incorporation : |
12.04.2010 |
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Com. Reg. No.: |
52069232 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of aromatic organic components and chemicals |
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No of Employees : |
No Employees in [It is to be noted that
the company does not have its own operating office in |
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 |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 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 |
BEIJING LUCKYSTAR
(HONGKONG) CO. LTD.
Registered Office:-
c/o SBC Corporate Services Ltd.
Unit 503, 5/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui,
Kowloon, Hong Kong.
Beijing Portfortune Industrial Ltd.
2/F., International Conference Centre, 8 Beichen East Road, Chaoyang
District, Beijing, China.
Portfortune Industrial Ltd., Hong Kong.
[Dissolved]
52069232
1441514
12th April, 2010.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 12-04-2013)
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Name |
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No. of shares |
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TIAN Ke Xin |
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10,000 ===== |
(As per registry dated 12-04-2013)
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Name (Nationality) |
Address |
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TIAN Ke Xin |
Room 18E, Block F, Hua Ting Jia Yuan, No. 6, North Four Middle Road,
Chao Yang District, Beijing, China. |
(As per registry dated 12-04-2013)
|
Name |
Address |
Co. No. |
|
SBC Corporate Services Ltd. |
Room B, 10/F., Tower A, Billion Centre, 1 Wang Kwong Road,
Kowloon Bay, Kowloon, Hong Kong. |
0618863 |
Beijing Luckystar (Hongkong) Co. Ltd. was incorporated on 12th April,
2010 as a private limited liability company under the Hong Kong Companies
Ordinance.
Originally the subject was registered under the name of PF Industrial
Ltd., name changed to the present style on 29th July, 2010.
Having issued 10,000 ordinary shares of HK$1.00 each, the subject is
wholly‑owned by Mr. Tian Ke Xin who is a China merchant. Tian, who cannot be reached, is also the only
director of the subject and holding a China ID card. Currently, he is residing in Beijing, China.
The subject does not have its own office. Its registered office is in a commercial
service firm located at Unit 503, 5/F., Silvercord Tower 2, 30 Canton
Road, Tsimshatsui, Kowloon, Hong Kong known as SBC Corporate Services Ltd.
[SCS] (Tsimshatsui Branch) which is handling its correspondences and documents. SCS has had a number of offices in Hong Kong.
In Hong Kong, the subject has no employee.
We can reach nobody at your given Hong Kong number 852-3011 9783 as it
is a fax line.
The subject has an associated companies known as Beijing Portfortune
Industrial Ltd. [BPI] which is in Beijing, China. This firm is operated by Tian. BPI is trading in aromatic organic compounds,
chemicals, etc. Two of its significant
products are 3, 5 Lutidine, 2, 6 Lutidine, etc.
Its products are marketed in China, exported to Japan, India, Southeast
Asia, Europe, other Spanish-spoken countries, etc.
The Beijing 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 Beijing firm also
exports commodities to foreign markets under the name of the subject and its
registered address in Hong Kong.
The subject has had a significant customers in Mumbai, India known as
Cipla Ltd.
The subject also had another associated company Portfortune Industrial
Ltd. [PI] in Hong Kong. But PI has been
dissolved by deregistration since 23rd March, 2012. The registered address of PI was also in the
office of SCS in Hong Kong.
The subject and BPI are engaged in the same lines of business. BPI has had a number of affiliated chemical
suppliers in China.
The subject has been banking with Standard Chartered Bank (Hong Kong)
Ltd. (formerly known as Standard Chartered Bank), it was reported.
The subject’s business in Hong Kong is not very active. History is just over three years and ten
months.
On the whole, since the subject does not have its own office and has no
employee in Hong Kong, 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
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Indian Rupees |
|
US Dollar |
1 |
Rs. 60.76 |
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|
1 |
Rs. 100.72 |
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Euro |
1 |
Rs. 80.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.