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Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
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Name : |
HUEI-HO INTERNATIONAL CO. LTD. |
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Registered Office : |
C/o HKCN Secretary Services Ltd., Room 2107, 21/F., C C WU Building, 302-308 Hennessy Road, Wanchai, |
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Country : |
Hongkong. |
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Date of Incorporation : |
28.03.2013 |
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Com. Reg. No.: |
61197733 |
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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 Employee in Hongkong 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 |
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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 in Hongkong |
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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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
HONGKONG - 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 |
HUEI-HO INTERNATIONAL
CO. LTD.
Registered Office:-
c/o HKCN Secretary Services Ltd.
Room 2107, 21/F., C C WU Building, 302-308 Hennessy Road, Wanchai, Hong Kong.
[Tel: 852-2138 1115, 2138 1668
Fax: 852-2877 1220 ]
China Office:-
Shanghai Huei-Ho International Co. Ltd.
20B, No. 2, Lane 600, Peakway Tower, Tianshan Road, 200051 Shanghai, China.
[Tel: 86-21-6273 7219, 6273 6279
Fax: 86-21-6129 4387
E-mail: info@huei-ho.com ]
Nanjing Office:-
Room 1805, Changfu Fenghua Tower, No. 75 Changfu Road, Nanjing City, Jiangsu Province 210002, China.
[Tel: 86-1571 5146 098 (Office)
Fax: 86-25-8664 8817 ]
61197733
1883636
28th March, 2013.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
(As per registry
dated 28-03-2014)
|
Name |
|
No. of shares |
|
YAO Bingxing |
|
1,000,000 ======= |
(As per registry
dated 28-03-2014)
|
Name (Nationality) |
Address |
|
YAO Bingxing |
Halsingegatan 3, LGH 1302, 113 23 Stockholm, Sweden. |
(As per registry
dated 28-03-2014)
|
Name |
Address |
Co. No. |
|
HKCN Secretary Services Ltd. |
Room 2107, 21/F., C C WU Building, 302‑308 Hennessy Road, Wanchai, Hong Kong. |
0837258 |
Huei-Ho International Co. Ltd. was incorporated on 28th March, 2013 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room 2107, 21/F., C C WU Building, 302-308 Hennessy Road, Wanchai, Hong Kong” known as “HKCN Secretary Services Ltd.” which is handling its correspondences and documents. This company is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued 1 million ordinary shares of HK$1.00 each which are wholly-owned by Mr. Yao Bingxing 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. His registered address is in Stockholm, Sweden.
The subject has had an associated company bearing the same name in Shanghai, China [Shanghai Huei-Ho].
Shanghai Huei-Ho has set up a branch company in Nanjing City, Jiangsu Province, China.
Shanghai Huei-Ho is dedicated itself in providing an extensive variety of fine chemicals and pharmaceutical intermediates. Shanghai Huei-Ho has been well recognized as vendor of choice by leading pharmaceutical & chemical enterprises globally. It has got ISO9001 certification. According to Shanghai Huei-Ho, it has received recognition from customers and business partners. Its products are exported to Southeast Asia, Europe, North America, etc.
Shanghai Huei-Ho is trading in the following products:
·
APIs & Food Additive;
·
Customized Products;
·
Fine Chemicals;
·
Intermediates;
·
Pharmaceutical Production
Machinery & Equipment; &
·
Veterinary, etc.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over a year.
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.58.84 |
|
|
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
-- |
NB |
New Business |
-- |
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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.