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Report Date : |
06.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MILLION LINK ( |
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Registered Office : |
Room 3508, 35/F., Bank of |
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Country : |
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Date of Incorporation : |
28.04.1999 |
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Com. Reg. No.: |
30065604 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Industrial chemicals (ferro silicon, silicon manganese, carbon raiser and citric acid). |
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No. of Employees : |
8 |
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 01, 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 Risk |
A2 |
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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 |
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Very High Risk |
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
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Source
: CIA |
MILLION
LINK (CHINA) INVESTMENT
LTD.
Room 3508, 35/F.,
Bank of America Tower, 12 Harcourt Road, Hong Kong.
PHONE: 852-2815 8007
FAX: 852-2815 8377
E-MAIL: ceo@millionlink.com
webmarketing@millionlink.com
Managing
Director: Mr. Xia Gang
Incorporated on: 28th April, 1999.
Organization: Private Limited Company.
Capital: Nominal: HK$5,010,000.00
Issued: HK$5,010,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$150~200 million.
Employees: 8.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
MILLION
LINK (CHINA) INVESTMENT
LTD.
Registered
Head Office:-
Room 3508, 35/F.,
Bank of America Tower, 12 Harcourt Road, Hong Kong.
Associated Companies:-
Million Link (China) Investment Ltd., China.
Million Link (India) Smelting Pvt. Ltd., India.
Million Link (Pakistan) Pvt. Ltd., Pakistan.
Million Link (Tianjin) International Trade Co. Ltd., China.
Million Link Americas LLC, USA.
Million Link Ferroalloys Ltd., China.
Million Link International Transportation Co. Ltd., China.
Million Link Ltd. (Egypt) Branch, Egypt.
Million Link Shipping Ltd., Hong Kong. (Same address)
P.T. Million Link Ferro Alloys Indonesia, Indonesia.
Tianjin Carat Logistics Co., China.
Tianjin Wintop Freight Agency Co. Ltd., China.
30065604
0673680
Managing
Director: Mr. Xia Gang
Nominal Share
Capital: HK$5,010,000.00 (Divided into 5,010,000 shares of HK$1.00 each)
Issued Share
Capital: HK$5,010,000.00
(As
per registry dated 28-04-2014)
|
Name |
|
No.
of shares |
|
XIA
Gang |
|
2,555,100 |
|
WANG Liping |
|
2,454,900 |
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|
–––––––– |
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Total: |
5,010,000 ======= |
(As
per registry dated 28-04-2014)
|
Name (Nationality) |
Address |
|
XIA Gang |
Flat E, 58/F., Block 9, Central Park
Towers II, 2 Ting Yan Road, Tin Shui Wai, New Territories, Hong Kong. |
|
WAN Kwai Har |
Flat F, 26/F., Block 7, Chi Fu Fa Yuen,
Pok Fu Lam, Hong Kong. |
|
WANG Liping |
Flat E, 58/F., Block 9, Central Park
Towers II, 2 Ting Yan Road, Tin Shui Wai, New Territories, Hong Kong. |
(As
per registry dated 28-04-2014)
|
Name |
Address |
Co.
No. |
|
Million
Link Shipping Ltd. |
Room 3508, 35/F., Bank of America Tower, 12 Harcourt Road, Hong Kong. |
0383675 |
The
subject was incorporated on 28th April, 1999 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: Industrial chemicals (ferro silicon, silicon manganese, carbon raiser and citric acid).
Employees: 8.
Commodities Imported: India, Europe, China, other Asian countries, etc.
Markets: Middle East, North America, other Asian countries, Southeast Asia, Western Europe, etc.
Annual Turnover: HK$150~200 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP: The
Hong Kong General Chamber of Commerce, Hong Kong.
[Membership No. ]
Nominal Share Capital: HK$5,010,000.00 (Divided into 5,010,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,010,000.00
Mortgage or Charge (since 2005): (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Bank of China (Hong Kong) Ltd., Hong Kong.
Citibank N.A., Hong Kong Branch.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Good.
Having
issued 5,010,000 ordinary shares of HK$1.00 each, Million Link (China)
Investment Ltd. is jointly owned by Mr. Xia Gang, holding 51% interests; and
Ms. Wan Kwai Har, holding 49%. Xia and
Wan seem to be a couple. Both are China
merchants but they are Hong Kong ID holders and have got the right to reside in
Hong Kong permanently. The couple and
Ms. Wan Kwai Har are directors of the subject.
The
subject is a professional international trading company specialized in
ferro-alloys, foundry, minerals, iron and steel, non-ferrous metals (Ferro
silicon, silicon manganese, carbon raiser, citric acid, etc.) trading. It is also engaged in investments
holding. Headquartered in Hong Kong, the
subject has rather good reputation for its professional services.
The
subject’s products are exported to the Middle East, North America, other Asian
countries, Southeast Asia, Western Europe, etc.
The
subject has got ISO 9001:2000 certification.
The
subject has had associated or affiliated companies in China, India, Indonesia,
Mongolia, Egypt, Pakistan, Canada, Vietnam and the United States.
The
subject’s main associated company Million Link (Tianjin) International Trade
Co. Ltd. is located at Vanke City Garden, Zhengyi Road, Herbei District,
Tianjin, China. This firm has had the
following associates in China:-
Tianjin
Carat Logistics Co.
Million
Link Ferroalloys Ltd.
Tianjin
Million Link Int’l Transportation Co.
The
subject’s associated company in India is known as Million Link (India) Smelting
Pvt. Ltd. This company is in New Delhi.
The
subject also offer customers with all kinds of logistic services.
The
subject’s business is active and good.
Annual sales turnover ranges from HK$150 to 200 million. Making a small profit every year.
The
subject’s business is chiefly handled by the directors of the subject.
As
the history of the subject is over fifteen years and four months in
Hong Kong, on the whole, consider it good for normal business engagements.
Property
information of the company:-
1. Property Location: Office 8 on 35/F., Bank of America Tower, 12 Harcourt Road,
Hong Kong.
Owner: Million Link (China) Investment Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
16-09-2005 |
- |
Bank of China (Hong Kong) Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
2. Property Location: Flat E on 58/F. & Flat Roof of Tower 9, Central Park
Towers II, 2 Ting Yan Road, New Territories, Hong Kong.
Owner: Million Link (China) Investment Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
11-05-2011 |
- |
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
Legal charge to secure general banking facilities |
(Since 2005)
|
Date |
Particulars |
Amount |
|
16-09-2005 |
Instrument: Mortgage Property: 41/1,000th parts or shares of and in
140/10,000th parts or shares of and in Inland Lot No. 8294 [Office 8 on 35/F.
of Bank of America Tower (formerly known as Gammon House), 12 Harcourt Road,
Hong Kong.] Mortgagee: Bank
of China (Hong Kong) Ltd., Hong Kong. |
To secure all moneys in respect of general banking facilities |
|
28-10-2005 |
Instrument: Deposit
Deed Property: By way of a first fixed charge and as a
continuing security for the Obligations, the Company charges all the
Company’s rights, title to and interest in all the Company’s accounts Mortgagee: Citibank
N.A., Hong Kong Branch. |
All moneys |
|
29-08-2007 |
Instrument: Charge
Over Deposits – CD 1 (06) Property: 1) By fixed Charge: all the Company’s rights in respect of (i)
time deposit of HK$2,000,000.00 deposited by the Company; and (ii) all other
sums in any currency from time to time standing to the credit of the Company
or the credit of any other person for the Company’s benefit whether alone or
jointly with others, on any deposit account with the Bank or any other SCB
Group Company including additions to or renewals or replacements of such sum;
and all interest from time to time accruing or payable on the sums specified
in (i) and (ii) above; 2) By assignment: all Deposits held with any SCB Group
Company Mortgagee: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure the payment or discharge of all moneys, obligations and
liabilities, whether actual or contingent at the date of the Charge or at any
time after the date thereof, due, owing or incurred by the Company to
Standard Chartered Bank (Hong Kong) Ltd. |
|
29-08-2007 |
Instrument: A
Charge Over Securities – Section 1 (05) Property: 1) All the Company’s rights,
title and interest in and to: (a) all, stocks, shares, bonds, debentures,
certificates of deposit, promissory notes, units in any trust, units or other
interests in any collective investment scheme and other securities; and (b)
all securities 2) All rights in relation to
any Securities 3) All dividends, interest or other
distributions paid or to be paid on any of the Securities and the Rights and
all allotments, accretions, offers, rights, benefits and advantages Mortgagee: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong. |
All moneys, obligations and liabilities, whether actual or contingent,
on the date of the Charge or at any time thereafter due, owing or incurred by
the Company to Standard Chartered Bank (Hong Kong) Ltd. |
|
11-11-2009 |
Instrument: Deposit
Deed Property: By way of a first fixed charge and as a
continuing security for the Obligations, the Company charges and assigns
absolutely all its rights, title to and interest in the Accounts and all
Deposits from time to time in the Accounts and/or comprising the Accounts
maintained with Citibank N.A., Hong Kong Branch and/or Citibank (Hong Kong)
Ltd. Mortgagee: Citibank
N.A., Hong Kong Branch. |
All moneys |
|
11-05-2011 |
Instrument: Legal
Charge/Mortgage Property: 84/181,954th parts or shares of and in Tin
Shui Wai Town Lot No. 24 (Flat E on 58/F. & Flat Roof of Tower 9 of
Central Park Towers II, 2 Ting Yan Road, New Territories, Hong Kong.) Mortgagee: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong. |
All moneys |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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 |
-- |
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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.