MIRA INFORM REPORT
|
Report No. : |
316893 |
|
Report Date : |
11.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HONG KONG YIP SHING COMPANY LIMITED |
|
|
|
|
Registered Office : |
Room 504, Block B, Chung Mei Centre, 15
Hing Yip Street, Kwun Tong, Kowloon. |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
22.02.2010 |
|
|
|
|
Com. Reg. No.: |
51839880 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
LINE OF BUSINESS : |
NOT
AVAILABLE [NOTE:
WE TRIED TO CONFIRM / OBTAIN THE DETAILED ACTIVITY BUT THE SAME IS NOT
AVAILABLE FROM ANY SOURCES] |
|
|
|
|
No. of Employee : |
Not Available 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. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Contact
Points
|
Company Name (in English): |
Hong Kong Yip Shing Company Limited |
|
Supplied Name: |
HONGKONG YIP SHING COMPANY LIMITD |
|
Supplied Address: |
RM 4 BLK B 5/F, CHUNG MEI CTR, 15 HING YIP ST, WUN TONG, KLN. HONG
KONG |
Note: The exact name is as above and the supplied
address belongs to a company called “Hong Kong Golden Tai (INT’L) Electronics Co.”
Special
Note
We did not find any valid contact information
of subject in Hong Kong according to the supplied name, supplied address,
registered address from public files.
We made an on-site visit to the supplied
address (also is subject’s registered address) and did not find subject. The
company based on the supplied address was called “Hong
Kong Golden Tai (INT’L) Electronics Co.” The relevant staff introduced that she doesn’t know any information
about subject and there was no subject’s staff working here.
Up to the date of report, we
failed to get in touch with subject, if you kindly supply further information
such as current telephone number; we’d like to continue our investigation.
We found the registration
information of subject from local registry, supplying as follows for reference.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 504, Block
B, Chung Mei Centre, 15 Hing Yip Street, Kwun Tong, Kowloon. Hong Kong |
|
Date of Registration: |
2010-2-22 |
|
Registered Number: |
1424118 |
|
Business Registration No.: |
51839880 |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares @ HKD
1 (As of 2015.3, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
Principal Activities: |
N/A |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-2-22 |
Notes: Since we didn’t
find subject, the principal activities and staff number are not available from
any sources.
History
Subject was incorporated on 2010-2-22 with the
registered number 1424118 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not register
any subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Xihe Zhao |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
Name: |
Xihe Zhao |
|
Address: |
HuaQiang Garden B-18A, Fuhong Road, Fu Tian
District, Shenzhen, China |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Xihe Zhao |
|
Address: |
HuaQiang Garden B-18A, Fuhong Road, Fu Tian
District, Shenzhen, China |
|
Position: |
Director |
|
ID Number: |
440524197404063617 |
|
2 |
|
|
Name: |
Flexkin Corporate Services Limited |
|
Address: |
Unit 2104, 21/F., Mongkok Commercial Centre,
16 Argyle Street, Mongkok, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
1237433 |
Operation
Information
Offices & Factories
We cannot confirm subject current trading address
at this stage.
Operation Information
Since we failed to get in touch with subject,
the relevant information cannot be confirmed by any other sources.
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the
only source from which we can obtain the information is the subject itself.
Since we failed to get in touch with subject,
the financial information is not available from any sources.
Bankers
|
1 |
|
|
Name: |
China Construction Bank (Asia) Corporation
Limited |
|
2 |
|
|
Name: |
China Everbright Bank Co., Ltd., Hong Kong
Branch |
Public
Mortgage Record
|
1 |
|
|
Company Name: |
Hong Kong Yip Shing Company Limited |
|
Instrument of Creating Mortgage: |
Charge Over Account (Charge”) |
|
Date of Creating Mortgage: |
2013-7-2 |
|
Amount Secured: |
All present and future obligations and liabilities
of Hong Kong Yip Shing Company Limited (the “Debtor”) to the Bank (whether
actual, contingent, sole, joint and/or several or otherwise and whether as
principal debtor or surety) and includes all moneys which the Bank may pay to
or for the account of the Debtor and all expenses incurred by the Bank in
connection with seeking to recover any of the above on a full indemnity basis
("Secured Liabilities"). |
|
Name of Mortgagee: |
China Construction Bank (Asia) Corporation
Limited (the “Bank”) |
|
Address of Mortgagee: |
G/F., 6, Des Voeux Road Central, Central,
Hong Kong |
|
Description of Property Mortgaged: |
Pursuant to Clause 3 (Charge) of the Charge,
for good and valuable consideration, receipt of which is acknowledged, the
Chargor as sole beneficial owner and as security for the payment of all
Secured Liabilities charges the Credit Balance to the Bank, by way of first
fixed charge. The charge created under Clause 3 shall be construed as a
separate charge over the credit balance of each Charged Account from time to
time, including all interest accruing from time to time in respect of it. For
the avoidance of doubt, the validity or enforceability of a charge created
under Clause 3 shall not effect the validity or enforceability of any of the
other charges and if a charge created under Clause 3 is to be construed as a
floating charge, that will not affect the nature of any of the other charges. |
|
2 |
|
|
Company Name: |
Hong Kong Yip Shing Company Limited |
|
Instrument of Creating Mortgage: |
Security Deed |
|
Date of Creating Mortgage: |
2013-11-12 |
|
Amount Secured: |
“Secured Liabilities” means all present and
future obligations and liabilities whatsoever (whether actual or contingent,
present or future) of the Chargor to the Secured Party under or in relation
to the Master Agreement and/or under any document related to or other
arrangement entered into in connection with the Master Agreement and of the
Chargor to the Secured Party under this Deed and/or any document related to
or other arrangement entered into in connection with this Deed. China Everbright Bank Co., Ltd. Hong Kong
Branch (the “Secured Party”) Hong Kong Yip Shing Company Limited (the
“Chargor”) |
|
Name of Mortgagee: |
China Everbright Bank Co., Ltd., Hong Kong Branch
(the ”Bank” or “Security Party” or “Chargee”) |
|
Address of Mortgagee: |
30th Floor, Far East Finance
Centre, 16 Harcourt Road, Hong Kong |
|
Description of Property Mortgaged: |
-- |
Lawsuits
Up to now, no present or latent litigation
of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy
Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction &
Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Attachment
Block B, Chung Mei Centre, 15 Hing Yip
Street, Kwun Tong, Kowloon. Hong Kong
Block B, Chung Mei Centre, 15 Hing Yip
Street, Kwun Tong, Kowloon. Hong Kong
Room 504, Block B, Chung Mei Centre,15
Hing Yip Street, Kwun Tong, Kowloon. Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
UK Pound |
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.