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Report No. : |
336197 |
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Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
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Name : |
FALCON LOGISTIC LTD. |
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Registered Office : |
c/o Prime Star (HK) Ltd. Unit 71, 2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.11.2013 |
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Com. Reg. No.: |
62381632 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in Forwarding agent, logistic service provider |
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No. of Employee : |
7. |
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 : |
Business is under development |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
FALCON LOGISTIC
LTD.
ADDRESS: Unit 12, G/F, Block 1, Golden
Industrial Building, 16-26 Kwai Tak Street, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2399 0096
FAX: 852-2399 0965
MANAGEMENT:
Managing Director: Mr. Vivek Kumar
Incorporated on: 22nd November,
2013.
Organization: Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Logistic Service
Provider.
Employees: 7.
Main Dealing Banker: Hang Seng
Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Prime Star (HK) Ltd.
Unit 71, 2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui, Kowloon,
Hong Kong.
Operating Office
and Warehouse:
Unit 12, G/F, Block 1, Golden Industrial Building, 16-26 Kwai Tak
Street, Kwai Chung, New Territories, Hong Kong.
Associated
Companies:-
Shenzhen Falcon Logistic Ltd.
Room 416A, East 4/F., Block SEG Technology Garden, Huaqiang Road North,
Futian District, Shenzhen SEZ, China.
[Tel: 86 755 83512210
Fax: 86 755 83512570
E-mail: robin@falcon-sz.com]
Guangzhou Falcon Logistic Ltd., China.
62381632
2001038
Managing Director: Mr. Vivek
Kumar
HK$10,000.00
(As per registry dated 22-11-2014)
|
Name |
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No. of shares |
|
Vivek KUMAR |
|
10,000 ===== |
(As per registry dated 22-11-2014)
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Name (Nationality) |
Address |
|
Vivek KUMAR |
15/668 Vasundhra, Ghaziabad, UP 201012, India. |
(As per registry dated 22-11-2014)
|
Name |
Address |
Co. No. |
|
Prime Star (HK) Ltd. |
Unit 71, 2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui,
Kowloon, Hong Kong. |
1262327 |
The subject was incorporated on 22nd November, 2013 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: Logistic Service
Provider.
Lines: Forwarding agent,
logistic service provider
Employees: 7.
Commodities Imported: China
Business Territories: Hong Kong, China,
India, Middle East, Europe, North America
Terms/Sales/Services: As per contracted.
Terms/Buying: Various terms.
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to offer
an opinion.
Condition: Business is under
development.
Facilities: Making fairly
active use of general banking facilities.
Payment: Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank
Ltd., Hong Kong.
Standing: Small.
Falcon Logistic Ltd. was incorporated in November, 2013 as a private
limited liability company.
The subject has issued 10,000 ordinary shares of HK$1.00 each which are
wholly owned by Mr. Vivek Kumar who is an India merchant.
He is an India passport holder and does not have the right to reside in
Hong Kong permanently. He is also
the only director of the subject.
The subject’s registered office is in a commercial service firm located
at Unit 71, 2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui,
Kowloon, Hong Kong known as Prime Star (HK) Ltd. which is handling its
correspondences and documents. This
company is also the corporate secretary of the subject.
The operating office and warehouse of the subject are located at a different
address.
The subject is logistic service provider. Its main office is in Shenzhen Special
Economic Zone, China which is known as Falcon Logistic Ltd. [Shenzhen Falcon]
which was set up in 2004. Shenzhen
Falcon has set up the following main departments:-
Air-freight Department;
China-Hong Kong Transportation Department; &
Importing Department.
Shenzhen Falcon has an office in Guangzhou City, Guangdong Province,
China. It also has set up an office in
Shenzhen International Airport.
The subject provides clients with the following logistic services: air
freight, sea freight, express, domestic freight, multi-modal, cargo insurance,
others.
The subject provides clients with multi-model transportation for air-sea
transportation, sea-land transportation and air-land transportation.
According to the subject, its main lines are the following three:-
Shenzhen – Guangzhou – Hong Kong – India.
Shenzhen – Guangzhou – Hong Kong – Middle East.
Shenzhen – Guangzhou – Hong Kong – Europe/America.
Concerning sea freight, the subject is able to handle Full Container
Load (FCL), Less Container Load, Consolidation (LCL), Its business partners are the following
significant shipping companies: NORASIA,
NYK, CMA, CSCL, SENATOR, WANHAI, UASC, HMM, TS LINE, MAERSK, YANGMING
The subject is a significant air-freight forwarding agent for the India
market. Its business territories covers
India, Pakistan, the Middle East, South America, Eastern Europe, Southeast Asia
The subject has had the following airlines as its business partners: CX,
BA, EK, 9W, AI, QR
The subject is the agent for a number of logistic services companies in
over 100 countries of the world. It
offers clients with the following services:
Freight services for exporter / importer / overseas agents:
Door-to-door or terminal –to- terminal FCL or LCL ocean freight services
for general cargo.
Customs clearance and other customs matters.
Inland haulage and cargo inspection.
Local and regional road freight, warehousing and distribution, documentation,
banking services, export packing and crating, cargo insurance, cargo, status
reports fornications, merchandise, inspections and consultation on
international transportation.
Inbound Sales and marketing, activities and cargo nomination and coordination
for local importers and overseas agents.
Providing consignees with information on movement status of their
orders.
Collecting HBL/HAWB freight and charges.
Paying MBL/HAWB freight and charges to cannier as required.
Remitting agents freight invoice amounts within 30 days of collection.
Performing all and any other logistical support services required by
clients, international carriers and freight agents.
The business of Shenzhen Falcon is active.
The history of the subject in Hong Kong is just over a year and eight
months.
Since the subject’s history is short in Hong Kong, consider it good for
business engagements on L/C basis or in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.17 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
-- |
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.