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Report Date : |
03.11.2014 |
IDENTIFICATION DETAILS
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Name : |
O&N IMPORT AND EXPORT LTD. |
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Registered Office : |
c/o Heroman Business Consulting (HK) Co. Unit A (Rm 9), 3/F., Cheong Sun Tower,
116-118 Wing Lok Street, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.06.2010 |
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Com. Reg. No.: |
52451328 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is an aquatic product trader |
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No of Employees : |
NO EMPLOYEES IN
HONG KONG. 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
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
O&N IMPORT
AND EXPORT LTD.
Registered Office:-
c/o Heroman Business Consulting (HK) Co.
Unit A (Rm 9), 3/F., Cheong Sun Tower,
116-118 Wing Lok Street, Sheung Wan, Hong Kong.
[Tel: 852-2534 0118; Fax:
852-2125 6777]
Associated Company:-
O&N (Dalian) Import & Export Ltd., China.
[Tel: 86-411-8218 3920]
52451328
1469632
17th June, 2010.
HK$10,000.00
(As per registry dated 17-06-2014)
|
Name |
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No. of shares |
|
ZHANG Li Xin |
|
9,100 |
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LI Li Li |
|
500 |
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WANG Huan |
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400 |
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|
–––––– |
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Total: |
10,000 ===== |
(As per registry dated 17-06-2014)
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Name (Nationality) |
Address |
|
LI Li Li |
Room 1506, Tiantong Finance Mansion, No. 58 Luxun Road, Zhongshan
District, Dalian City, China. |
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WANG Huan |
Room 1506, Tiantong Finance Mansion, No. 58 Luxun Road, Zhongshan
District, Dalian City, China. |
|
ZHANG Li Xin |
Room 1506, Tiantong Finance Mansion, No. 58 Luxun Road, Zhongshan
District, Dalian City, China. |
(As per registry dated 17-06-2014)
|
Name |
Address |
Co. No. |
|
Ever Trustful Capital Co. Ltd. |
Room 301-2, 3/F., Hang Seng Wanchai Building, 200 Hennessy Road,
Wanchai, Hong Kong. |
0812355 |
O&N Import And Export Ltd. was incorporated on 17th June, 2010 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 Unit A (Rm 9), 3/F., Cheong Sun Tower, 116-118 Wing Lok
Street, Sheung Wan, Hong Kong known as Heroman Business Consulting (HK) Co.
[Heroman] which is handling its correspondences and documents. ‘Rm 9’ is the file number of the subject in
the consulting company. Given Hong Kong
number 852-3053 3003 is a Fax line belongs to Heroman.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each of which 91% are owned by Mr. Zhang
Li Xin, 5% are owned by Ms. Li Lili and 4% by Mr. Wang Huan.
They are China passport holders and do not have the right to reside in
Hong Kong permanently. They are also
directors of the subject.
The subject is an aquatic product trader. It has had an associated company known as
O&N (Dalian) Import & Export Ltd. [O&N Dalian] in Dalian City,
Liaoning Province, China.
Founded in September 2008 and with a registered capital of RMB8 million
Yuan, O&N Dalian is also an aquatic product trader. The legal representative of O&N Dalian is
also Ms. Li Lili.
O&N Dalian has had a business partner in the United State known as
Alaska Standard Seafood Company, LLC [ASSC].
O&N Dalian is importing all kinds of aquatic products from
ASSC. Products are marketed in Dalian,
Qingdao, Shanghai and Guangzhou. Most of
the customers are food processing factories.
O&N Dalian also has bad customers or business partners from Canada,
Norway, Denmark, France, Sweden, Germany, Australia, Russia, India, etc.
The business of O&N Dalian is quite active in China.
The subject’s business in Hong Kong is not active. History in Hong Kong is over four years and
four months.
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.61.41 |
|
|
1 |
Rs.98.06 |
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Euro |
1 |
Rs.77.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
SMN |
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 |
|
-- |
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.