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Report Date : |
17.07.2014 |
IDENTIFICATION DETAILS
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Name : |
EASY
RISE INTERNATIONAL TRADING
LTD. |
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Registered Office : |
Room 2108, 21/F., C C WU Building, |
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Country : |
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Date of Incorporation : |
22.03.2005 |
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Com. Reg. No.: |
35506681 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Pigment Inks. |
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No. of Employees : |
No employees in
Hong Kong 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. |
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
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 |
|
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 |
EASY RISE INTERNATIONAL
TRADING LTD.
ADDRESS: C/o JBL
Secretary Services Ltd.
Room 2108, 21/F., C
C WU Building, 302-308 Hennessy Road, Wanchai, Hong Kong.
PHONE: 852-2138
1668
FAX: 852-2877
1220
(Formerly Located At: C/o JBL
Secretary Services Ltd.
Room 1302, 13/F.,
CRE Building,
303 Hennessy Road,
Wanchai, Hong Kong.)
Managing Director: Ms. Hsu Chia
Lin
Incorporated On: 22nd March, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
EASY RISE
INTERNATIONAL TRADING LTD.
Registered Head Office: C/o
JBL Secretary Services Ltd.
Room 2108, 21/F., C C WU Building, 302-308
Hennessy Road, Wanchai, Hong Kong.
China Affiliated Company: Nerojet
Technology Co. Ltd.
The Third Industrial Zone, Shalang,
Zhongshan City, Guangdong Province, China.
[Tel: 86-760-2363
0435-8,
Fax: 86-760-2363 0439]
35506681
0957773
Managing Director: Ms. Hsu Chia
Lin (China Mobile: 86-1390 2943 065)
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
(As per registry dated 22-03-2014)
|
Name |
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No. of shares |
|
HSU Chia Lin |
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20 |
|
HSU Jui Chun |
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80 |
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|
–––– |
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Total: |
100 === |
(As per registry dated 22-03-2014)
|
Name (Nationality) |
Address |
|
HSU Chia Lin |
C1109, Xu Fei Hua An Garden, Mei Hua Road, Fu Tian District, Shenzhen,
China. |
(As per registry dated 22-03-2014)
|
Name |
Address |
Co. No. |
|
JBL Secretary Services Ltd. |
Room 2108, 21/F., C C WU Building, 302-308 Hennessy Road, Wanchai,
Hong Kong. |
0665319 |
The subject was incorporated on 22nd March, 2005 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly the registered address of the subject was located at Room 1302,
13/F., CRE Building, 303 Hennessy Road, Wanchai, Hong Kong, moved to
Room 2108, 21/F. of the same building in February 2012. Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of Pigment Inks
Employees: Nil.
Commodities Imported: China,
other Asian countries
Markets: China,
other Asian countries, Europe, North America
Terms/Sales: L/C, T/T
Terms/Buying: L/C, T/T
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 100 ordinary shares of HK$1.00 each, Easy Rise
International Trading Ltd. is jointly owned by Mr. Hsu Jui Chun, holding 80%
interests; Ms. Hsu Chia Lin, holding 20%. Ms. Hsu Chia Lin is the only director of the
subject. The two Hsus are Taiwan
passport holders and do not have the right to reside in Hong Kong
permanently. Currently, both of them are
residing in Futian District, Shenzhen Special Economic Zone, China.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 2108, 21/F., CRE Building, 303 Hennessy Road,
Wanchai, Hong Kong. known as JBL Secretary Services Ltd. which is handling its
correspondences and documents.
This firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
We can reach Ms. Hsu Chia Lin at your given China mobile phone number
86-1390 2943 065. This line is in
Shenzhen Special Economic Zone, China.
The subject has had an affiliated company in Zhongshan City, Guangdong
Province, China known as Nerojet Technology Co., Ltd. [Nerojet]. The phone number of Nerojet is 86-760-2363
0435.
The subject is
trading in the same products as Nerojet.
Nerojet is engaged in manufacturing the following products:-
·
Dye ink jet ink: desktop, plotter;
·
Pigment ink jet ink desktop, plotter;
·
Solvent ink; &
·
Thermal transfer ink.
Nerojet’s products
bear the following brand names:-
·
Canon Dye Ink;
·
Epson Dye Ink;
·
HP Dye Ink; &
·
Lexmark Dye Ink.
Nerojet’s products are exported to foreign markets under the name of the
subject. Prime markets are Singapore,
Taiwan, Europe, North America, etc.
It was reported that Nerojet is a high tech company which was
established in Tuas Dist., Singapore (nearby Nanyang Technological University
and Industrial Park). Nerojet is engaged
in the research, developing, manufacturing ink jet ink. All its products have been ISO 9001
certified.
The subject’s business in Hong Kong is not active. History in Hong Kong is over nine years.
On the whole, 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.60.19 |
|
|
1 |
Rs.103.14 |
|
Euro |
1 |
Rs.81.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
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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 |
|
-- |
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.