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Report No. : |
315174 |
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Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BRC INTERNATIONAL LTD. |
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Registered Office : |
Suite 1203, 12/F., One Peking, 1 Peking Road, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
01.08.2011 |
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Com. Reg. No.: |
58856495 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of all kinds of Iron and Steel Products. |
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No. of Employees : |
6. (Including Affiliated Company) |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 28/F of the same building
BRC
INTERNATIONAL LTD.
ADDRESS: Suite
1203, 12/F., One Peking, 1 Peking Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2735
7113
FAX: 852-2736
3050
Managing Director:
Ms. Chen Zhenyin
Incorporated on: 1st August, 2011.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Iron
& Steel Trader.
Employees: 6. (Including affiliated
company)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Lucky Holdings International Ltd.
Flat A30, 9/F., Silvercorp International Tower, 707-713
Nathan Road, Mongkok, Kowloon, Hong Kong.
Operating Office:-
Suite 1203, 12/F., One Peking, 1 Peking Road,
Tsimshatsui, Kowloon, Hong Kong.
Affiliated Company:-
British Rollmakers (China) Ltd., Hong Kong. (Same
address)
58856495
1650622
Managing Director:
Ms. Chen Zhenyin
HK$10,000.00
(As per registry dated
01-08-2014)
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Name |
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No. of shares |
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CHEN Zhenyin |
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10,000 ===== |
(As per registry
dated 01-08-2014)
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Name (Nationality) |
Address |
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CHEN Zhenyin |
Unit E, 15/F., Cheuk Nang Plaza, 250 Hennessey Road,
Wanchai, Hong Kong. |
(As per registry
dated 01-08-2014)
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Name |
Address |
Co. No. |
|
Lucky Holdings International Ltd. |
Room A30, 9/F., Silvercorp International Tower, 707-713
Nathan Road, Mongkok, Kowloon, Hong Kong. |
1985198 |
The subject was incorporated
on 1st August, 2011 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: Iron
& Steel Trader.
Lines: All
kinds of iron and steel products, etc.
Employees: 6. (Including affiliated company)
Commodities Imported: China,
other Asian countries, etc.
Markets: China
and worldwide countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various
terms.
Issued Share Capital: HK$10,000.00
Profit or Loss: Made
small profit in 2014.
Condition: Business
is improving.
Facilities: Adequate
for current running.
Payment: Met as required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued 10,000
ordinary shares of HK$1.00 each, BRC International Ltd. is wholly owned by Ms.
Chen Zhenyin who is a China businesswoman. She is a China ID holder and does not have the
right to reside in Hong Kong permanently.
She is also the only director of the subject.
The subject’s
registered address is in the office of a commercial service provider.
The subject is an
iron and steel product trader. According
to the subject, it is a leading global supplier of rolls to the largest steel
companies in China and more than 50 countries around the world. With headquarters in Hong Kong, manufacturing
facilities in Mainland China, Sales and Technical offices in different regions
of the world, the subject is leading the way to integrating the technology for
the roll industry. It was due to the
rapid growth of its global markets, it recruited more staff in late 2014.
The subject’s China
office is in Changzhou City, Jiangsu Province, China. Its regional offices are in Austria, Peru and
Canada.
The subject is
providing conventional static cast rolls and centrifugally cast high technology
rolls to more than 260 steel mills in 40 countries. Deliveries to its international market
presently exceed 1,000 rolls per month.
The subject shares
the office with British Rollmakers (China) Ltd. which is an iron and steel
product trader.
The business of the
subject is chiefly handled by Ms. Chen Zhenyin. History in Hong Kong is over three years and
eight months.
On the whole, consider the subject good for normal
business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.26 |
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|
1 |
Rs.92.49 |
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Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.