|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
HEALTHY FOOD LTD. |
|
|
|
|
Registered Office : |
Suite 11A, 11/F., Ocean Centre, 5 Canton Road, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
10.03.2004 |
|
|
|
|
Com. Reg. No.: |
34363181 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of all kinds of dried nuts, walnuts, pecans, Brazil nuts, cashew, pine
nuts, macadamia and almond. |
|
|
|
|
No. of Employees : |
6 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
HEALTHY FOOD
LTD.
ADDRESS: Suite 11A, 11/F., Ocean
Centre, 5 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2437 9921
FAX: 852-2412 4710
E-MAIL: info@healthfoodltd.com
Managing Director: Ms.
Lee Wai Hung, Annie
Incorporated on: 10th
March, 2004.
Organization: Private
Limited Company.
Paid Up Capital: HK$8,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
6.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Head Office:-
Suite 11A, 11/F., Ocean Centre, 5 Canton
Road, Tsimshatsui, Kowloon, Hong Kong.
Associated
Company:-
Lucky Food Enterprises Ltd., Hong Kong. (Same address)
34363181
0888011
Managing Director: Ms.
Lee Wai Hung, Annie
HK$8,000,000.00
(As
per registry dated 10-03-2014)
|
Name |
|
No. of shares |
|
LEE Wai Hung |
|
8,000,000 ======= |
(As
per registry dated 10-03-2014)
|
Name (Nationality) |
Address |
|
LEE Wai Hung |
Suite 11A. 11/F., Ocean Centre, 5 Canton
Road, Tsimshatsui, Kowloon, Hong Kong. |
(As
per registry dated 10-03-2014)
|
Name |
Address |
Co. No. |
|
Asiaride Secretaries Ltd. |
19/F., Beverly House, 93-107 Lockhart Road,
Wanchai, Hong Kong. |
0251445 |
The subject was incorporated on 10th March, 2004 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: All
kinds of dried nut, slated almond.
Employees: 6.
Commodities Imported: China, Southeast Asia, Europe, North America, etc.
Markets: Hong
Kong, other Asian countries, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Paid Up Capital: HK$8,000,000.00
Indebtedness: HK$6,355,555.76 (Total amount
outstanding on all mortgages and charges as per last Annual Return dated 10-03-2014)
Mortgage or Charge (since 2010): (See attachment)
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:-
Hang Seng Bank
Ltd., Hong Kong.
Standard Chartered
Bank (Hong Kong) Ltd., Hong Kong.
Australia and New Zealand Banking Group Ltd., Hong Kong.
Standing:
Normal.
Having issued 8 million ordinary shares of HK$1.00 each, Health Food
Ltd. is wholly owned by a Hong Kong businesswoman Ms. Lee Wai Hung, Annie. She is also the only director of the subject.
The subject is trading in all kinds of dried nuts, walnuts, pecans,
Brazil nuts, cashew, pine nuts, macadamia and almond. The followings are some its products: US Ex1
Pistachio, US Pistachios, Iranian Pistachio - Long (Ahmad Aghaei), Iranian
Pistachios - Round Pistachios (Fandoghi), Australian – Macadamia, Macadamia -
Inshell or Kernels.
Its products are exported to Central & South America, China, the
Middle East, other Asian countries, etc.
The subjects claims to be one of the largest nut importers and
distributors in Asia.
The subject has had an associated company Lucky Food Enterprises Ltd., a
Hong Kong-registered company located at the same address.
The subject’s business is chiefly handled by
Ms. Lee Wai Hung herself. History in
Hong Kong is over ten years and seven months.
On the whole, consider the subject good for
normal business engagements.
(Since
2010)
|
Date |
Particulars |
Amount |
|
12-04-2010 |
Instrument: Security Over Deposits Property: A deposit with chargee in the amount of HK$10,000,000
and all moneys under Deposit A/C No. 817-279813 whatever currency it may
subsequently be denominated in, any renewal of such deposit and the interest
thereon together with any further monies in any deposit account with the
chargee at any of its offices. Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
(i) all monies in any currency owing by
the Company to the chargee at any time, actually or contingently, in any
capacity, alone or jointly with any other person; (ii) interest on such
monies; and (iii) all expenses of the chargee in perfecting or enforcing the
charge |
|
06-07-2012 |
Instrument: Charge Over Deposit Property: All of the Company’s account for time and fixed
deposits, savings, structured investments and deposits and any other types of
deposits, opened, maintained or held with ANZ at its Hong Kong branch Mortgagee: Australia & New Zealand Banking
Group Ltd., Hong Kong Branch. |
All obligations owing to the Bank by the
Depositor on any account |
|
19-12-2013 |
Instrument: Charge Over Deposits/Securities
(2-Parties) Property: The Chargor charges by way of first fixed
charge to the Bank all the right, title and interest in (a) all deposits and accounts
of the Chargor with the Bank; (b) the Securities (i) any interest, rights,
title or property owned by the Chargor to the credit of the Chargor’s account
with the Bank; (ii) all dividends; (iii) all accretions, and other benefits;
(iv) all stocks, securities; (v) all present and future rights which the
Chargor may have or acquire as against any Clearance System Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure owing all monies in any currency
by the Company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.23 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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.