|
Report Date : |
17.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
KIND BASE
CORPORATION LTD. |
|
|
|
|
Registered Office : |
c/o HK Accountant firm Room 1712, 17/F., Ho King Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
13.02.2008 |
|
|
|
|
Com. Reg. No.: |
39056680 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
·
subject is trading in the products
of Zhongji. ·
Zhongji is engaged in
manufacturing all kinds of cutting tools & a professional manufacturer of
cutting tools for lathes, milling machines and CNC machines with good quality
and various specifications, including turning holders, boring bars, thread
holders, holders for grooving, end mills and related parts bearing the brand
names of “OSC” and “CRM”. |
|
|
|
|
No of Employees : |
no employees
in (NOTE : It is to be noted that the company does not have its own operating
office in |
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 |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
KIND BASE
CORPORATION LTD.
Registered
Office:-
c/o HK Accountant firm
Room 1712, 17/F., Ho King Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon, Hong Kong.
Associated
Companies:-
Dongguan Fenggang Zhongji NC Tools Factory
Block F, Danxing Industrial Area, Guanjingtou Administrative Zone, Fenggang Town, Dongguan City, Guangdong Province, China.
[Tel: 86-769-8620 4998
Fax: 86-769-8777 5264
E-mail: Nicholas.zhou@zjtools.net
Note:
Please be advised
that Above Mentioned Given Address Room F, 25/F., Block 3, The Pacifica, 9 Shum
Shing Road, Cheung Sha Wan, Kowloon, Hong Kong is a residential flat in a
private building. The residential building is not trespassed by
outsiders.
39056680
1211137
13th February, 2008.
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 13-02-2014)
|
Name |
|
No.
of shares |
|
GAO Rong |
|
8,000 |
|
HO Xiao Yang |
|
2,000 |
|
|
|
––––– |
|
|
Total: |
10,000 ===== |
(As per registry
dated 13-02-2014)
|
Name (Nationality) |
Address |
|
GAO Rong |
11A, Block 3, Yihuju,
Shuixiehuadu, Xiangmei Road, Futian, Shenzhen, China. |
|
HO Xiao Yang |
Room B301, Yi Fen Garden, Buji
County, Longgang District, Shenzhen, China. |
(As per registry
dated 13-02-2014)
|
Name |
Address |
|
WU Lit Fung |
Room 1712, 17/F., Ho King Commercial Centre, 2-16 Fa Yuen
Street, Mongkok, Kowloon, Hong Kong. |
Kind Base Corporation Ltd. was incorporated on 13th February, 2008 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 1712, 17/F., Ho King Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon, Hong Kong which is handling its correspondences and documents.
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 80% are owned by Mr. Gao Rong and 20% are owned by Mr. Ho Xiao Yang.
They are China ID holders and do not have the right to reside in Hong Kong permanently. They are directors of the subject.
According to your given China phone number, we reached a firm in Dongguan City known as Dongguan Fenggang Zhongji NC Tools Factory [Zhongji]. Mr. Gao Rong can also be reached at your given China mobile phone number 86-1589 9632 702.
The subject is trading in the products of Zhongji. Zhongji is engaged in manufacturing all kinds of cutting tools.
Zhongji is a professional manufacturer of cutting tools for lathes, milling machines and CNC machines with good quality and various specifications, including turning holders, boring bars, thread holders, holders for grooving, end mills and related parts. Most of the products bear the brand names of OSC and CRM.
According to Zhongji, it is using Taiwan Brand CB and Europe CERATIZIT tungsten carbide materials to manufacture its products.
Its products are exported to Southeast Asia, Europe, North America, South America, etc.
The contact person of the Zhongji are Ms. Mary Wand and Nicholas Zhou.
The subject has been banking with Bank of China (Hong Kong) Ltd., Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over six years and ten 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.
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.63.41 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.79.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MNL |
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.