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Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
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Name : |
KOWLOONLAND
(HONG KONG) DEVELOPMENT CO. LTD. |
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Registered Office : |
c/o Walwick
Registrations Ltd. Flat 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road,
Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.04.2004 |
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Com. Reg. No.: |
34499390 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject
is trading in the following products: Pharmaceuticals, Chemicals, Printing Products, Paper, HCL, Graphite,
Vitamin K4, Garments, Textile Products, Fabrics, Foodstuffs, Additives,
Cannery |
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No. of Employees |
Not Available 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. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
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 |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
KOWLOONLAND
(HONG KONG) DEVELOPMENT
CO. LTD.
ADDRESS:
Registered
Office:-
c/o Walwick
Registrations Ltd.
Flat 1801A, 18/F.,
On Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong.
Associated
Company:-
Shenzhen
Kowloonland Trading Co. Ltd.,
24B, Block A,
Jinxiu Bldg, Aiguo Road, Shenzhen Special Economic Zone, China.
[Tel: 86-755-2538 0981/2541 2360
Fax: 86-755-2581 1536]
34499390
0896889
23rd April, 2004.
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 23-04-2013)
|
Name |
|
No.
of shares |
|
YANG
Jian |
|
5,500 |
|
HUA Huizhen |
|
4,500 |
|
|
|
–––––– |
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|
Total: |
10,000 ===== |
(As
per registry dated 23-04-2013)
|
Name (Nationality) |
Address |
|
HUA Huizhen |
Room 402, Block 45, Dongdao Yuan North
Part, Dongxiao Road, Buxin, Shenzhen, China. |
|
YANG Jian |
Room 402, Block 45, Dongdao Yuan North
Part, Dongxiao Road, Buxin, Shenzhen, China. |
(As
per registry dated 23-04-2013)
|
Name |
Address |
Co.
No. |
|
Walwick
Registrations Ltd. |
Flat 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road,
Wanchai, Hong Kong. |
0982700 |
The
subject was incorporated on 23rd April, 2004 as a private limited liability
company under the Hong Kong Companies Ordinance.
Last time the subject’s registered address was
located at Room 1311, 13/F., Nan Fung Tower, 173 Des Voeux Road, Hong Kong
where was the operating address of a commercial service provider. The subject moved to the present address in
April 2010 as it has changed its commercial service provider since then.
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, Kowloonland (Hong Kong)
Development Co., Ltd. is jointly owned by Mr. Yang Jian, holding 55% interests,
and Ms. Hua Huizhen, holding 45%. Both
are China merchants. Being China passport
holders and do not have the right to reside in Hong Kong permanently, they are
also directors of the subject. Yang Jian
and Hua Huizhen is a couple.
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." which is handling its
correspondences and documents. This firm
is also the corporate secretary of the subject.
Formerly
the subject was located at the office of another commercial service provider
located at Room 1311, 13/F., Nan Fung Tower, 173 Des Voeux Road, Hong
Kong. Your given Phone number 852-3855
9529 does not exist. Your given fax
number 852-3104 0059 belongs to the commercial service provider located at the
above-mentioned address.
We
cannot reach your given contact person Mr. Hui Zhen Hua.
The
subject has no employees in Hong Kong.
The
subject has had an associated company Shenzhen Kowloonland Trading Co., Ltd.
[STCL].
STCL
has been specialized in exporting and importing of API and chemicals for 10
years. It also acts as the exporter of
Chinese manufacturers of packing / printing / paper materials for plates and
machines. It also trades in embroidery
machines with ISO certificate from China.
The
subject is trading in the following products:
Pharmaceuticals,
Chemicals, Printing Products, Paper, HCL, Graphite, Vitamin K4, Garments,
Textile Products, Fabrics, Foodstuffs, Additives, Cannery.
The
subject is a also a buying office for its customers.
It
is also likely that STCL deals with foreign parties under the name of the
subject and let foreign firms correspond with the subject’s registered address
in Hong Kong. The China firm also
exports commodities to foreign markets under the name of the subject and its
registered address in Hong Kong.
The
subject’s business in Hong Kong is not active.
History in Hong Kong is over ten 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.87 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
|
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.