|
Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARYOCEAN (ASIA PACIFIC) INTERNATIONAL CO. LTD. |
|
|
|
|
Registered Office : |
7/F., Fairmont House, 8 Cotton Tree Drive, Central, |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
23.11.1995 |
|
|
|
|
Com. Reg. No.: |
19496799 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importers and Exporters; Transhipment Agent of Electronic
products, mechanical & electrical products and instruments, aircraft,
vessels, other transportation machinery, locomotives and spare parts,
petroleum equipment, power machines, construction machinery and complete
plant equipment, pharmaceuticals products, agricultural products, livestock
& poultry, building & construction, real estates |
|
|
|
|
No. of Employees |
16 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
No complaints |
|
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 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
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 |
PARYOCEAN (ASIA
PACIFIC) INTERNATIONAL CO.
LTD.
ADDRESS: 7/F., Fairmont House, 8 Cotton Tree Drive, Central, Hong Kong.
PHONE: 852-2521 1193, 2521 8383
FAX: 852-2521 6972, 2522 6636
E-MAIL: paryocean@resolink.com
songjianmin@hotmail.com
Managing Director: Mr. Wang Bing Mu
Incorporated on: 23rd November, 1995.
Organization: Private Limited Company.
Capital: Nominal:HK$1,000,000.00
Issued: HK$100.00
Business Category: Importers and Exporters; Transhipment Agent.
Employees: 16. (Including associates)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Very Good.
Registered Head
Office:-
7/F., Fairmont House, 8 Cotton Tree Drive, Central, Hong Kong.
Holding Company:-
China General Technology (Group) Holding Ltd. [Genertec]
F23-28,Genertec Plaza, No. 90, Xisanhuan ZhongLu, Fengtai District, Beijing, 100055 China.
[Tel: 86-10-6334 8889, 6334 8888
Fax: 86-10-6334 8118
E-mail: genertec@genertec.com.cn]
Associated/Affiliated
Companies:-
General Technology Group of Companies
Beijing Machine Tool Research Institute, China.
China Automotive Engineering Research Institute Co. Ltd., China.
China General Consulting & Investment Co. Ltd., China.
China International Tendering Corporation, China.
China Meheco Corporation, China.
China National Corporation for Overseas Economic Cooperation, China.
China National Instrument Import & Export (Group) Corporation, China.
China National Machinery Import & Export (Group) Corporation, China.
China National Postal & Telecommunications Appliances Corporation, China.
China National Technical Import & Export Corporation, China.
China Netional Light Industrial Products Imp. & Exp. Corporation, China.
China Textile Academy, China.
China Xinxing Corporation (Group), China.
Chinalight Solar Co. Ltd., China.
Choka Trading Co. Ltd., Japan.
CMC Financial Company S.A., Luxembourg.
CMC International Tendering Corporation, China.
CMC Pacific Tools Inc., US.
Coal Industry Jinan Design & Research Institute Co. Ltd., China.
Euromapax Imax & Export GmbH, Germany.
Genertec (Beijing) Investment & Fund Management Corporation, China.
Genertec (U.K.) Ltd., UK.
Genertec America Inc., US.
Genertec Europe Temax GmbH, Germany.
Genertec Fianance Co. Ltd., China.
Genertec Hong Kong International Capital Ltd., Hong Kong.
Genertec International Logistics Co. Ltd., China.
Genertec Investment Managers Ltd., China.
Genertec Italia S.R.L., Italy.
Genertec Pharmaceutical Holding Ltd., China.
Genertec Real Estate Co. Ltd., China.
Genertec Real Estate Management Co. Ltd., China.
Genertec Topfond Phamaceutical Co. Ltd., China.
Harbin Measuring & Cutting Tool Group Co. Ltd., China.
Instrimpex International Tendering Corporation, China.
Qier Machine Tool Group Co. Ltd., China.
World Tender Industrial Ltd., Hong Kong.
Ylon Machinery Co. Ltd., Hong Kong.
etc.
19496799
0531369
Managing Director: Mr. Wang Bing Mu
Contact Person: Ms. Li Gui-Hua
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
SHAREHOLDERS: (As per registry dated 23-11-2013)
|
Name |
|
No. of shares |
|
China General Technology (Group) Holding Ltd. 2 Qiaojianli, Haidian District, Beijing, China. |
|
99 |
|
Genertec Hong Kong International Capital Ltd., Hong Kong. |
|
1 |
|
|
|
––– |
|
|
Total: |
100 === |
DIRECTORS: (As per registry dated 23-11-2013)
|
Name (Nationality) |
Address |
|
CHEN Zheng |
Flat E, 2/F., Heng Shan Mansion, Taikoo Shing Kao Shan, Terrace, 19 Taikoo Shing Road, Hong Kong. |
|
FAN Tao |
8/F., Echo Peak Tower, 61 Fort Street, North Point, Hong Kong. |
|
WANG Bing Mu |
Flat A, 28/F., Hing Hon Building, 26-36 King’s Road, Hong Kong. |
SECRETARY: CHEN Zheng (As per registry dated 23-11-2013)
The subject was incorporated on 23rd November, 1995 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importers and Exporters; Transhipment Agent.
Lines: Electronic products, mechanical & electrical products and instruments, aircraft, vessels, other transportation machinery, locomotives and spare parts, petroleum equipment, power machines, construction machinery and complete plant equipment, pharmaceuticals products, agricultural products, livestock & poultry, building & construction, real estates
Total Floor Space: 929 sq.m.
Employees: 16. (Including associates)
Commodities Imported:-
Machinery and equipment – China.
Machinery spare parts – Europe, U.S.A. and other advanced countries.
Markets: Worldwide countries.
Annual Turnover: Very significant amount.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
MEMBERSHIP: The Hong Kong Chinese Enterprises Association, Hong Kong.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Mortgage or Charge: (See attachment)
Profit & Loss: Made profits in the past years.
Condition: Business is active and good.
Facilities: Making active use of general banking facilities.
Payment: So far so good
Commercial Morality: Good.
Bankers:-
Bank of China (Hong Kong) Ltd., Hong Kong.
Bank of Communications Co. Ltd., Hong Kong.
Standing: Very Good.
Paryocean (Asia Pacific) International Co. Ltd. is a wholly-owned subsidiary of China General Technology (Group) Holding Ltd. [Genertec] which is a significant China-based firm.
Genertec, founded in 1998 as an important state-owned enterprise directly administered by the central government, is the largest service provider introducing advanced equipment and technology, the largest importer and exporter of light industrial products and medical & health products, the largest distributor and service provider of mobile communication terminal products, and also the important equipment manufacturer, international engineering contractor, pharmaceutical manufacturer and supplier, technical and consulting service provider and construction and land agent.
Genertec is specialized in five sectors, including equipment manufacturing, trade and engineering contracting, pharmaceutical industry, technical services and consultancy as well as construction and real estate.
The products of Genertec are exported to worldwide countries.
Genertec has had a renowned reputation for over 50 years. Most of its key subsidiaries have played significant roles in China’s relevant industries or industry segments. At present, having more than 45,000 employees, Genertec has 58 overseas organizations and 32 domestic subsidiaries among which 3 are listed in Shanghai stock market.
Genertec is able to provide its clients with package solution including marketing, commercial services, financing, key equipment manufacturing, engineering design and construction and technical & consulting services. Genertec has formed steady trade and cooperative relations with more than 100 countries and regions of the world.
Since 2007, Genertec has been focusing on the comprehensive implementation of the strategy of transformation and upgrading with the promotion of industry transformation.
In the years ahead, Genertec will grasp opportunities to develop its business further.
In 2011, Genertec made a historic breakthrough with the sales revenue of RMB129.8 billion Yuan. From 2007 to 2011, the sales revenue witnessed an annual growth of 59.1%, the aggregate profit witnessed an annual growth of 34%, and the total assets witnessed an annual growth of 38.3%.
The Chairman of the Board of Genertec is Mr. He Tongxin, Managing Director is Ms. Li Dang.
The subject is fully supported by Genertec. History in Hong Kong is over eighteen years.
On the whole, in view of the background and parentage of the subject, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
23-01-2002 |
Instrument: Deed of Indemnity, Charge Over Deposits and Set‑Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Particulars of the Deposits: Signature No.: 92151521 Deposit Nos.: 012-875-5-410491-8 012-875-5-410413-8 Amount: JPY257,907,703 US$230,000 Due Date: 25-01-2002 19-02-2002 Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Paryocean (Asia Pacific) International Co. Ltd. and World Tender Industrial Ltd. |
|
16-07-2002 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set‑Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Particulars of the Deposit: Signature No.: 92151521 Deposit No.: 012-875-5-429657-2 Amount: US$427,350 Due Date: 18-08-2002 Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Paryocean (Asia Pacific) International Co. Ltd. and World Tender Industrial Ltd. |
|
23-07-2002 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set‑Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Particulars of the Deposit: Signature No.: 92151521 Deposit No.: 012-875-5-430409-7 Amount: JPY42,644,481 Due Date: 30-07-2002 Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Paryocean (Asia Pacific) International Co. Ltd. and World Tender Industrial Ltd. |
|
23-07-2002 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set‑Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Particulars of the Deposit: Signature No.: 92151521 Deposit No.: 012-875-5-430408-4 Amount: JPY41,112,814 Due Date: 30-07-2002 Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Paryocean (Asia Pacific) International Co. Ltd. and World Tender Industrial Ltd. |
|
23-07-2002 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set‑Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Particulars of the Deposit: Signature No.: 92151521 Deposit No.: 012-875-5-430410-7 Amount: JPY63,769,950 Due Date: 30-07-2002 Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities granted to Paryocean (Asia Pacific) International Co. Ltd. and World Tender Industrial Ltd. |
|
10-03-2006 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set-Off Property: By way of Fixed Charge to the Bank all the Company’s estate, right, title, claim, benefit and interest to and in the Deposit (Account No.012-7522426-6) and all interest from time to time payable thereon and together with all title deeds and documents relating thereto Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities of whatever nature and in Whatever currency or currencies to any extent Bank of China (Hong Kong) Ltd., Shall think fit granted or to be granted to Paryocean (Asia Pacific) International Co. Ltd., on such time, conditions manner and form and for so long as the Bank may at its sole discretion think fit together with interest accrued thereon |
|
14-06-2007 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set‑Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Particulars of the Deposit: 1) Deposit No.: 012-875-5-593814-1 Amount: US$818,000.38 2) Deposit No.: 012-875-5-598032-0 Amount: US$2,500,000.00 3) Deposit No.: 012-875-5-597718-4 Amount: US$1,553,144.96 4) Deposit No.: 012-875-5-599901-4 Amount: US$2,403,049.53 Mortgagee: Bank of China (Hong Kong) Ltd., Hong Kong. |
All moneys in respect of general banking facilities of whatever nature and in whatever currency or currencies to any extent Bank of China (Hong Kong) Ltd., Shall think fit granted or to be granted to the company on such terms, conditions, manner and form and for so long as the Bank may at its sole discretion think fit together with interest accrued thereon |
|
10-08-2007 |
Instrument: Deed of Charge on Cash Deposit Property: A cash Deposit of US$460,000 & all interest thereafter placed with The Bank of East Asia Ltd. under Account No. 514-30-39190-1 Deposit No. 0097 The Charge is a continuing security and is a first fixed charge on the Deposit Mortgagee: The Bank of East Asia Ltd., Hong Kong. |
To secure credit facilities or financial accommodation |
|
28-12-2011 |
Instrument: Deed of Indemnity, Charge Over Deposit and Set-Off Property: All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit (No. 02753220106750 & 02753293158432) and all interest from time to time payable thereon and together with all title deeds or documents relating thereto Mortgagee: The Bank of East Asia Ltd., Hong Kong. |
All actions, suits, proceedings, claims, demands, losses, damages, costs, fees, expenses and/or liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.