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Report Date : |
17.10.2014 |
IDENTIFICATION DETAILS
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Name : |
SEA LUCK INTERNATIONAL
HOLDINGS LTD. |
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Registered Office : |
Room 814, 8/F., Tsim Sha Tsui Centre, East Wing, 66 Mody Road,
Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
27.06.2005 |
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Com. Reg. No.: |
35848398 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Shoes, Paper Products. |
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No. of Employees : |
4 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
SEA
LUCK INTERNATIONAL HOLDINGS LTD.
ADDRESS: Room 814, 8/F.,
Tsim Sha Tsui Centre, East Wing, 66 Mody Road, Tsimshatsui, Kowloon, Hong
Kong.
PHONE: 852-2367 3898
FAX: 852-2727 3122
Managing Director: Ms. Lam Lai Mui
Incorporated on: 27th June, 2005.
Organization: Private Limited Company.
Paid Up Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: Shanghai
Commercial Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 814, 8/F., Tsim Sha Tsui Centre, East Wing, 66 Mody Road,
Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
Dongguan Hoi Fu Paper Products Ltd., China.
Dongguan Houjie Santun Hoifu Paper Products Ltd., China.
Dongguan Qisheng Shoes Co. Ltd., China.
Hoi Fu Enterprises Ltd., Hong Kong.
(Same address)
Hoi Fu Paper Products Ltd., Hong Kong.
(Same address)
35848398
0979682
Managing Director: Ms. Lam Lai Mui
HK$10,000.00
(As per registry
dated 27-06-2014)
|
Name |
|
No. of shares |
|
LAM Lai Mui |
|
4,700 |
|
YIN Jiqi |
|
3,500 |
|
LU Jinxiang |
|
1,800 |
|
|
|
‑‑‑‑‑‑‑‑ |
|
|
Total: |
10,000 ===== |
(As per registry
dated 27-06-2014)
|
Name (Nationality) |
Address |
|
YIN Jiqi |
Room 814, 8/F., Tsimshatsui Centre, East Wing, 66 Mody Road,
Tsimshatsui, Kowloon, Hong Kong. |
|
LU Jinxiang |
Room 814, 8/F., Tsimshatsui Centre, East Wing, 66 Mody Road, Tsimshatsui,
Kowloon, Hong Kong. |
|
LAM Lai Mui |
Room 814, 8/F., Tsimshatsui Centre, East Wing, 66 Mody Road,
Tsimshatsui, Kowloon, Hong Kong. |
(As per registry
dated 27-06-2014)
|
Name |
Address |
Co. No. |
|
VMC Secretaries Ltd. |
Room 1617-18, 16/F., Star House, 3 Salisbury Road, Tsimshatsui,
Kowloon, Hong Kong. |
0750831 |
The subject was incorporated on 27th June, 2005 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,
Exporter and Wholesaler.
Lines: Shoes,
Paper Products, etc.
Employees: 4.
Commodities Imported: China, other
Asian countries, etc.
Markets: Asian
countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Paid Up Capital: HK$10,000.00
Mortgage or
Charge:-
Date of Deed of Charge on Account and Set Off: 23-07-2010
Amount: To
secure banking facilities and interest
Property: All funds and/or moneys
standing to the credit of any existing account of whatever nature opened or account to be opened by the company with
Shanghai Commercial Bank Ltd., including but not limited to the account no.:
353-33-03171-1, and any moneys whether now or at any time hereafter from time
to time deposited or credited into the account in any currency.
Mortgagee: Shanghai
Commercial Bank Ltd., Hong Kong.
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.
Bankers:-
Shanghai
Commercial Bank Ltd., Hong Kong.
Hang Seng Bank
Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Sea Luck
International Holdings Ltd. is jointly owned by Lam Lai Mui, holding 47% interests;
Mr. Yin Jiqi, holding 35%, and Lu Jinxiang, 18%. They are also directors of the subject. Lam Lai Mui is a Hong Kong businesswoman
while the other two are China merchants.
The subject has had the following two main associated companies in Dongguan
City, Guangdong Province, China.
Dongguan Hoi Fu Paper Products Ltd. [Hoifu]
Dongguan Qisheng Shoes Co. Ltd. [Qisheng]
The subject is trading in paper products and leather shoes, causal
shoes, etc.
Qisheng was set up by Mr. Yin Jiqi in 1988. Now, its monthly production capacity is over
10,000 pairs of shoes. In 2012 Yin
became one of the significant characters in China.
Hoifu has grown into a leading paper packaging company in China. Currently, Hoifu owns factories and offices
with a total area of over 100,000 square meters and has approximately 1,000
staff and workers employed. It has been
equipped with Roland presses, CTP, Asahi die cutters, UV machine, PP
laminators, 6-color flexo press and 5-layer corrugator.
Hoifu is specialized in producing gift boxes, corrugated cartons,
displays, users’ manuals and calendars.
It has got ISO9001:2008, ISO14001:2004, FSC, QC080000 certifications and
is a nominated packaging supplier for Wal-Mart, Target, Philips, Toshiba, etc.
The business of the subject is administered by the three
shareholders. History in Hong Kong is
over nine years and three months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.48 |
|
|
1 |
Rs.98.24 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
|
|
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.