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Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
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Name : |
REHOO INDUSTRIAL LTD. |
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Registered Office : |
Unit 3, 14/F., Wah Wai Centre, 38-40 Au Pui Wan Street, Fotan, Shatin, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
25.09.2007 |
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Com. Reg. No.: |
38492570 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of inspecting and measuring instruments |
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No of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
REHOO INDUSTRIAL
LTD.
ADDRESS: Unit 3, 14/F., Wah Wai Centre, 38-40 Au Pui
Wan Street, Fotan, Shatin, New Territories, Hong Kong.
PHONE: 852-3741 2206
FAX: 852-3741 2207
E-MAIL: info@rehoo.com.hk
Managing Director: Mr. Yao Ming
Feng
Incorporated on: 25th September, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer
and Exporter.
Employees: 5.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
REHOO INDUSTRIAL
LTD.
Registered Head
Office:-
Unit 3, 14/F., Wah Wai Centre, 38-40 Au Pui Wan Street, Fotan, Shatin,
New Territories, Hong Kong.
China Factory:-
Songjiang Jiuting Industrial Park, Shanghai, China.
R&D
Department:-
Shanghai Caohejing Hi-Tech Park, Shanghai, China.
Associated
Company:-
Shanghai Rehoo Industrial Ltd., China.
38492570
1170264
Managing Director: Mr. Yao Ming
Feng
Contact Person: Ms. Wendy Sung
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 25-09-2013)
|
Name |
|
No. of shares |
|
YAO Ming Feng |
|
10,000 ===== |
(As per registry
dated 25-09-2013)
|
Name (Nationality) |
Address |
|
YAO Ming Feng |
Room 307, No. 4 Lane 737, Caoxibei Road, Shanghai, China. |
(As per registry dated
25-09-2013)
|
Name |
Address |
Co. No. |
|
Goodbest Consultants Ltd. |
12/F., Bel Trade Commercial Building, 1‑3 Burrows Street,
Wanchai, Hong Kong. |
0460797 |
The subject was incorporated on 25th September, 2007 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: Importer
and Exporter.
Lines: All
kinds of inspecting and measuring instruments, etc.
Brand name: Rehoo.
Employees: 5.
Commodities Imported: China, etc.
Markets: Hong
Kong, South Korea, Taiwan, Japan, India, other Asian countries, Europe, North
America, etc.
Terms/Sales: L/C, T/T, D/P, D/A, COD, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a
satisfactory manner.
Facilities: Making rather
active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Rehoo Industrial
Ltd. is wholly owned by Mr. Yao Ming Feng who is a China merchant. He is a China passport holder and does not have
the right to reside in Hong Kong permanently.
He is also the only director of the subject.
The subject is trading in the following commodities:
Metal Detector, Weight Monitor, Security Inspection Equipment, Clothing
Needle Detector, Check Weigher, Garment Machine, Packaging Machine, Hydraulic
Press, Hardware Tool, Auto Weight Sorting System, etc.
All the products bear the trade mark Rehoo.
The subject has had a main associated company in China known as Shanghai
Rehoo Industrial Ltd. [Shanghai Rehoo] which was founded in 1990. Shanghai Rehoo has set up its factory and
R&D Department in Shanghai, China.
The subject has registered its trade mark Rehoo with Trade Marks
Registry, Intellectual Property Department, the Government of the Hong Kong
SAR. This trade mark was registered on
27th April, 2011 and the expiry date is 26th April, 2021.
The subject is responsible for corporate management and trade
service. It is actively engaged in
expanding domestic and overseas market and offering customers with serves in
China and abroad.
Its R& D department is located at Shanghai Caohejing Hi-Tech Park
having a number of electronic and mechanical engineers who are dedicated to the
R& D of products. For years,
Shanghai Rehoo has increased its investment in the R& D Department.
Shanghai Rehoo’s manufacturing base, covering an area of 8, 000 sq.m.,
is located at Songjiang Jiuting Industrial Park in Shanghai with a modern plant
of 10, 000 sq.m.. The manufacturing base
has an electronic assembly workshop, an electronic product debugging workshop
and a mechanical processing workshop.
The subject’s products are marketed in Hong Kong and China, exported to
South Korea, Taiwan, Japan, India, other Asian countries, Europe, North
America, etc. Business is normal.
In Hong Kong, the subject’s business is chiefly handled by Ms. Wendy
Sung who is a Hongkongnese. History is
over six years.
On the whole, consider the subject good for normal business engagements
in moderate credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.03 |
|
|
1 |
Rs. 101.96 |
|
Euro |
1 |
Rs. 83.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
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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 |
|
-- |
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.