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Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
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Name : |
R&H INTERNATIONAL TRADING COMPANY |
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Registered Office : |
Flat E, 12/F., Winner Industrial Building, 55 Hung To Road, Kwun Tong, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
05.12.2008 |
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Com. Reg. No.: |
50074932-000-12 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF TOYS, NOVELTIES, PREMIUMS,
ELECTRONIC PRODUCTS, TEXTILE PRODUCTS, TELECOMMUNICATION EQUIPMENT |
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No. of Employees : |
4. (Including affiliates) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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) |
|
Hongkong |
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 |
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 |
[Your enquiry given as:-
R & H INTERNATIONAL TRADING COMPANY
with former located at:-
Flat E1, 4/F., Yeung Yiu Chung (No. 8) Industrial Building, 20 Wang Hoi Road, Kowloon, Hong Kong.]
R&H INTERNATIONAL
TRADING COMPANY
ADDRESS: Flat E, 12/F.,
Winner Industrial Building, 55 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: Not available
Manager:
Mr. Zeng Yijian
Establishment: 5th
December, 2008.
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Importer, exporter and Wholesaler.
Employees:
4. (Including affiliates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head
Office:-
Flat E, 12/F., Winner Industrial Building,
55 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
Associated
Company:-
R&H Forwarding Agent Co. Ltd., China.
50074932-000-12
Manager:
Mr. Zeng Yijian
Name:
Mr. ZENG
Yijian
Residential Address: 2/F., 5 Chenjiaci, Guangzhou, Guangdong Province, China.
The subject was established on 5th December, 2008 as a sole
proprietorship concern owned by Mr. Zeng Yijian under the Hong Kong Business
Registration Regulations.
Formerly the subject was located at Flat E1, 4/F., Yeung Yiu Chung (No.
8) Industrial Building, 20 Wang Hoi Road, Kowloon, Hong Kong, moved to the
present address in April 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
exporter and Wholesaler.
Lines: Toys,
novelties, premiums, electronic products, textile products,
telecommunication equipment
Employees: 4.
(Including affiliates)
Commodities Imported: China, etc.
Markets:
Other Asian countries,
Europe, North America, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: As
per contracted.
Capital: Not
disclosed.
Profit or Loss: Making a small profit in past three years.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Slow but
correct
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
R&H International Trading Co. is a sole proprietorship set up and
owned by Mr. Zeng Yijian who is a China merchant. He is a China ID holder and does not have the
right to reside in Hong Kong permanently.
He is also the manager of the subject.
Business commenced in December 2008, the subject is trading in the
following commodities: toys, novelties, premiums, electronic products, textile
products, telecommunication equipment, electric appliances, etc.
It also trades in other commodities as entrusted by overseas customers.
The subject has had an associated company in Guangzhou, Guangdong
Province, China known as R&H Forwarding Agent Co. Ltd. The legal representative of this firm is also
Zeng Yijian. R&H Forwarding Agent is
engaged in air-freight, sea freight, road transportation, etc. This company was established on 29th January,
2007. Its registered capital was
RMB500,000.00 Yuan.
The subject’s business is chiefly handled by Zeng Yijian himself. History in Hong Kong is just about six years.
On the whole, consider the subject good for
normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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-- |
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.