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Report Date : |
14.03.2014 |
IDENTIFICATION DETAILS
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Name : |
CHINA CERAMICS TECHNOLOGY INSTITUTE LTD. |
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Registered Office : |
c/o SBC Corporate Services Ltd. Unit 2209, 22/F., Wu Chung House, 213 Queen’s Road East, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.11.2007 |
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Com. Reg. No.: |
38618097 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available |
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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 |
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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 |
A1 |
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 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 |
CHINA CERAMICS
TECHNOLOGY INSTITUTE LTD.
Registered
Office:-
c/o SBC Corporate Services Ltd.
Unit 2209, 22/F., Wu Chung House, 213 Queen’s Road East, Wanchai, Hong
Kong.
(Formerly located
at:
c/o SBC Corporate Services Ltd.
21/F., New World Tower 1,18 Queens Road Central, Hong Kong)
Holding Company:-
Copenhagen New Energy Technology (Europe) Co. Ltd., British Virgin
Islands.
Associated
Company:-
Aokerola Group
Room 303, Block B, Gao Ke Ji Chuang Ye Yuan, Gao Xin District, Zibo,
Shandong Province, China.
[Tel: 86-533-3588 889 Fax:
86-533-3588 880
E-mail: aokeroller@hotmail.com ]
Factory Address:-
Nanding, Yuedian Town, Zhangdian County , Zibo City, Shandong Province
,China.
38618097
1184835
13th November, 2007.
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 13-11-2013)
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Name |
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No. of shares |
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Copenhagen New Energy Technology (Europe) Co. Ltd. Unit 8, 3/F., Qwomar Trading Complex, Blackburen Road, Port Purcell,
Road Town, Tortola, British Virgin Islands VG1110. |
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10,000 ===== |
(As per registry dated 13-11-2013)
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Name (Nationality) |
Address |
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ZHOU Hai Yan |
Room 303, Block B, Gao Ke Ji Chuang Ye Yuan, Gao Xin District, Zi Bo,
Shandong, China. |
(As per registry dated 13-11-2013)
|
Name |
Address |
Co. No. |
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SBC Corporate Services Ltd. |
Room B, 10/F., Tower A, Billion Centre, 1 Wang Kowng Road,
Kowloon Bay, Kowloon, Hong Kong. |
0618863 |
The subject was incorporated on 13th November, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the registered address of the subject was located at 21/F.,
New World Tower 1, 18 Queens Road Central, Hong Kong where was the
operating address of a commercial service provider SBC Corporate Services Ltd.
[SBC]. SBC moved to the present address in
September 2010, so did the subject.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Having issued 10,000 ordinary shares of HK$1.00 each, China Ceramics
Technology Institute Ltd. is wholly owned by Copenhagen New Energy Technology
(Europe) Co. Ltd. which is a BVI-registered company.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Unit 2209, 22/F., Wu Chung House, 213 Queen’s Road
East, Wanchai, Hong Kong” known as “SBC Corporate Services Ltd.” [SBC] which is
handling its correspondences and documents.
This company is also the corporate secretary of the subject. SBC has had several offices in Hong Kong.
The subject has no employees in Hong Kong.
The director of the subject Ms. Zhou Hai Yan is a China merchant. She is a China ID holder and does not have
the right to reside in Hong Kong permanently.
She is also the only director of the subject.
The subject belongs to Aokerola Group which is in Zibo City, Shandong
Province, China.
The Group is a leading fine ceramic manufacturer which was established
in 1990. Aokerola has set up five
national enterprises and one overseas company, specialized in developing fine
ceramics science & technology, production, and trading. The main products are: high quality ceramic
roller, Iso-static pressure grinding ball, wear resistant lining brick,
heterotypic wear resistant ceramic, alumina packing ball, ceramic ball foundry
sand, high strength proppant, active alumina ball, alumina polishing ceramic,
special industry ceramic, silicon carbide ceramic and Iso-static ball
press. Based on global top class
hardware--complete set of Germany equipment and top class software-----Spanish
ceramic technology, Aokerola manufactures over 1,500,000 pieces quality ceramic
rollers and over 100,000 tons of wear resistant grinding ball, lining brick and
other technical ceramics and over 100,000 tons of petroleum proppant and
casting ceramic sands annually.
Aokerola has been holding many self-developed intellectual property
rights. In 2002, Aokerola developed the
full automatic ISOSTATIC PRESS in cooperation with DS, a Germany company. In the same year, Aokerola invented the
iso-static medium alumina ball and realized the industrialization. In 2006, Aokerola developed a Full Automatic
Fine Ceramic Production Line which has obtained 13 national patents. In the same year, Aokerola developed a new products----Super
Anti-abrasive King (SAK), which has extremely excellent wear resistant
performance. In 2007, Aokerola developed
the unique biggest shuttle kiln for roller production, and introduced the
cutting edge roller production technology from Germany, which has been made the
quality of the roller to be a higher level.
In the end of the year 2008, Aokerola independently invented the biggest
high alumina ball production line which uses high temperature roller kiln.
Aokerola’s products have been exported to America, Germany, Japan,
Italy, Spain, South Korea, India, Indonesia, Turkey, Russia, Taiwan, etc. more
than 30 countries all over the world.
Its products are providing service for ceramic industry, steel industry,
mining industry, power industry, petrol chemical industry and chemical industry,
etc.
The subject’s business in Hong Kong is not active. History in Hong Kong is over six 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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
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|
1 |
Rs.101.65 |
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Euro |
1 |
Rs.85.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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.