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Report Date : |
21.01.2014 |
IDENTIFICATION DETAILS
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Name : |
WORLDSTAR S&T LTD. |
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Registered Office : |
c/o Walwick Registrations Ltd. Flat 1801A, 18/F., On |
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Country : |
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Date of Incorporation : |
11.12.2009 |
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Com. Reg. No.: |
51535628 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
MANUFACTURING ALL KINDS OF BATTERIES INCLUDING NI-CD
BATTERIES, NI-MH BATTERIES AND LI-ION BATTERIES, UPS POWER SUPPLIES, POWER
GENERATORS, ENERGY SAVING EQUIPMENT, BATTERY ON-LINE TESTING SYSTEMS |
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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 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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Hong Kong |
A2 |
A1 |
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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 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
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Source
: CIA |
WORLDSTAR S&T LTD.
Registered Office:-
c/o Walwick Registrations Ltd.
Flat 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong.
Associated Company:-
Shenzhen Worldstar S&T Ltd.
16D, Guohui Building, Chunfeng Road, Luohu District, 518001 Shenzhen Special Economic Zone, China.
[Phone: 86-755-2518 7600, Fax: 86-755-2517 8603]
51535628
1400949
11th December, 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
SHAREHOLDER: (As per registry dated 11-12-2013)
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Name |
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No. of shares |
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HUANG Junwu |
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10,000 ===== |
DIRECTOR: (As per registry dated 11-12-2013)
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Name (Nationality) |
Address |
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HUANG Junwu |
No. 12, Fenjiang North Road, Chancheng District, Foshan City, Guangdong Province, China. |
SECRETARY: (As per registry dated 11-12-2013)
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Name |
Address |
Co. No. |
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Walwick Registrations Ltd. |
Flat 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong. |
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Worldstar S&T Ltd. was incorporated on 11th December, 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 “Flat 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong” known as “Walwick Registrations Ltd.” [Walwick] which is handling its correspondences and documents. Walwick is also the corporate secretary of the subject. Your given phone and fax number 852-3971 1675 and 852-3543 0978 respectively belong to Walwick.
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 which are wholly-owned by Mr. Huang Junwu who is a China merchant. He is a China ID holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject has had an associated company Shenzhen Worldstar S&T Ltd. [SWS&T] in Shenzhen Special Economic Zone, China. The general manager of SWS&T is also Huang Junwu.
The subject and SWS&T are engaged in the same lines of business. Set up in 2004, SWS&T is engaged in manufacturing all kinds of batteries including Ni-Cd batteries, Ni-Mh batteries and Li-Ion batteries, UPS power supplies, power generators, energy saving equipment, battery on-line testing systems, etc. SWS&T is also the agent in China for Hitachi sealed lead acid batteries and uninterruptible power supplies.
SWS&T has developed business ties with a number of electronic manufacturers, China telecommunication system companies, power generating companies, railway companies, banks, securities companies, etc.
SWS&T’s products are marketed in China, exported to Japan, the other Asian countries, Europe, North America, etc. Business is normal.
The subject has been banking with The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over four years.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.63 |
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1 |
Rs.101.25 |
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Euro |
1 |
Rs.83.42 |
INFORMATION DETAILS
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Report Prepared
by : |
NIS |
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.