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Report Date : |
27.12.2014 |
IDENTIFICATION DETAILS
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Name : |
YMC GROUP CO., LIMITED |
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Registered Office : |
20A, Kiu Fu |
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Country : |
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Date of Incorporation : |
30.09.2011 |
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Com. Reg. No.: |
59035634 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is not
available from any sources] |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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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 |
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Status : |
Offshore Company |
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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 – 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 |
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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 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 |
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Company Name (in Chinese): |
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|
Company Name (in English): |
YMC Group Co., Limited |
|
Supplied Name: |
YMC GROUP CO., LIMITED |
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Supplied Address: |
20A, KIU FU COMMERCIAL BUILDING, 300 LOCKHART ROAD, WANCHAI, HK, HONG KONG |
Note: The exact name is as above and the supplied address belongs to an office of Righful Deyong group.
We cannot find subject’s any operation information or valid contact information in Hong Kong through public files according to supplied name.
According to the supplied address, we tried to contact subject through the phone number +852-2521-1809 which we obtained from public files. A lady answered it and introduced that her company is an office of Righful Deyong group which is engaged in providing registered and accounting service and the supplied address belongs to her company. Subject is one of her company’s customers; however she declined to disclose any other information about subject.
As subject’s registered address is that of a corporate secretary, based on subject’s registered files and our investigation, we consider subject as an offshore company.
We found subject’s registered files from local registry, supplying as following for reference.
|
Registered Name: |
|
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Registered Address: |
20A, Kiu Fu Commercial Building, 300 Lockhart Road, Wan Chai, Hong Kong |
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Date of Registration: |
2011-9-30 |
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Registered Number: |
1668398 |
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Business Registration No.: |
59035634 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1 (As of 2014.12, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-9-30 |
Subject was incorporated on 2011-9-30 with the registered
number 1668398 as Private Limited Liability Company in
Change of Name:
|
Date |
Change |
|
2014-11-19 |
YMC Group Co., Limited 億銘集團有限公司 |
|
2011-10-14 |
Great Bay Resources Co., Limited 盛灣資源有限公司 |
|
2011-9-30 |
Great Spring Resources Co., Limited 盛泉資源有限公司 |
Subject did not register
any subsidiaries or branches, from other source we can not obtain the relevant
information, either.
|
Subscription Shares |
Proportion of
Investment (%) |
|
|
Zhang Shaowei |
4,500 |
45% |
|
Liu Siyu |
5,500 |
55% |
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Total |
10,000 |
100% |
Major Shareholder
Information:
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1 |
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Name: |
Zhang Shaowei |
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Address: |
15/B-15/F., |
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2 |
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Name: |
Liu Siyu |
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Address: |
15/B-15/F., |
Core Management
Detailed Information
of Directors:
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1 |
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Name: |
Li Fang |
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Address: |
NNo.101, Unit 2, Building 1, Courtyard North 6, Shangyang Road, Xigong District, Luoyang City, Henan Province, China |
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Position: |
Director |
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ID Number: |
370202198105294927 |
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Date of Appointment: |
2014-11-12 |
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2 |
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Name: |
Hongkong Jiahogte Registration Centre Limited |
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Address: |
20A, Kiu Fu Commercial Building, 300 Lockhart Road, Wan Chai, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
1951323 |
Former Directors:
|
1 |
|
|
Name: |
Liu Siyu |
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Address: |
15/B-15/F., Cheuk Nang Plaza 250, Hennessy Road, Hong Kong |
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Position: |
Director |
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ID Number: |
230826197303111819 |
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Date of Resignation: |
2014-11-12 |
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2 |
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Name: |
Zhang Shaowei |
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Address: |
15/B-15/F., Cheuk Nang Plaza 250, Hennessy Road, Hong Kong |
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Position: |
Director |
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ID Number: |
410303198509023714 |
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Date of Resignation: |
2014-11-12 |
Subject does not have business entity in Hong Kong.
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject does not have business entity in Hong Kong, thus we cannot obtain the relevant information.
Mortgage Record
No mortgage record of subject was found.
Up to now, no present or latent litigation of the subject has been found.
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High Court Action: |
Clear |
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High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.64 |
|
|
1 |
Rs.98.98 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
|
|
<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.