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Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
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Name : |
RUN LIANG TRADING LTD. |
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Registered Office : |
Room 2107, 21/F., C C Wu Building, |
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Country : |
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Date of Incorporation : |
16.02.2005 |
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Com. Reg. No.: |
35342766 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No of Employees : |
No Employee in It is to be noted that
the company does not have its own operating office in |
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 |
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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 |
RUN LIANG TRADING LTD.
Registered
Office:-
c/o HKCN Secretary Services Ltd.
Room 2107, 21/F., C C Wu Building, 302-308
Hennessy Road, Wanchai, Hong Kong.
Associated
Companies:
Guangzhou Run Liang Trading Ltd., China.
Guangzhou Run Hao Trading Ltd.
Room 2317, No. 268, Zhongxin Building, Baogang Road, Guangzhou, Guangdong Province, China
[Tel: 0086 20 34229974, 88572836
Fax: 0086 20 34386072
Mr. Eric Deng: Email:
eric@runliangtrading.net
Ms. Apple Pu: Email:
decapple89@runliangtrading.net]
35342766
0951907
16th February, 2005.
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of
HK$1.00 each)
Issued Share Capital: HK$500,000.00
(As per registry dated 16-02-2014)
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Name |
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No. of shares |
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DENG Jie Liang |
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500,000 ====== |
(As per registry dated 16-02-2014)
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Name (Nationality) |
Address |
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DENG Jie Liang |
Room 706, No. 3, North Street, Hi-Field Garden, Jiangyan
Road, Guangzhou, China. |
(As per registry dated 16-02-2014)
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Name |
Address |
Co. No. |
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HKCN Secretary Services Ltd. |
Room 2107, 21/F., C C Wu Building, |
0837258 |
Run Liang Trading Ltd. was incorporated on
16th February, 2005 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 Room 2107, 21/F., C C Wu
Building, 302-308 Hennessy Road, Wanchai, Hong Kong
known as HKCN Secretary Services Ltd. which is handling its correspondences and
documents. This company is also the
corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
500,000 ordinary shares of HK$1.00 each which are wholly-owned by Mr. Deng
Jie Liang 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 only director of the subject.
The subject has had an associated company in Guangzhou, Guangdong
Province, China known as Guangzhou Run Liang Trading
Ltd. [GRL]. Your given phone and fax
number belong to GRL.
Established in the year of 2000 under the leadership of Mr. Eric Deng Jie Liang, GRL has been a leading
and professional trading company in steel business in China. It is primarily engaged in exporting tubes,
fittings, sheets, plates, flanges, coils, strips, bars
Prime markets are Japan, other Asian countries, Europe, North America,
etc. According to GRL, its annual sales
turnover ranges from US$3.5 to US$4.0 million.
GRL has had an associated company Guangzhou Run Hao
Trading Ltd. [Run Hao] which is also located at the
same address in Guangzhou.
Besides steel products, GRL also trades in textile machinery and
equipment, laundry equipment, signal lamps, blowers, garment machines, dyeing
machines
However, garment and textile equipment and machines are chiefly handled
by Run Hao.
GRL and Run Hao are operated by Deng Jie Liang. The history of GRL is over fourteen years in
Guangzhou, China. Business is
normal. The contact person is Ms. Apple Pu who is a Chinese.
It is also likely that the China firm deals with foreign parties under
the name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong. The
China firm also exports commodities to foreign markets under the name of the
subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over nine years and
seven 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.81 |
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1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.