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Report No. : |
352721 |
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Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
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Name : |
LION FORESTRY LTD. |
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Registered Office : |
Room 4305, 43/F., Tower One, Lippo Centre, 89
Queensway, Admiralty |
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Country : |
Hongkong |
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Date of Incorporation : |
17.01.2003 |
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Com. Reg. No.: |
33301465 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Timber, Log, Plywood, Building Materials, |
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No. of Employees : |
5 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
LION FORESTRY
LTD.
ADDRESS: Room
4305, 43/F., Tower One, Lippo Centre, 89 Queensway, Admiralty, Hong Kong.
PHONE: 852-2523
5112, 2523 5116
FAX: 852-2537
1066
E-MAIL: lionforest@biznetvigator.com
General Manager: Mr. Jain Sudeep
Incorporated on: 17th January, 2003.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000,000.00
Business Category: Importer
and Exporter.
Employees: 5.
Main Dealing Banker: Punjab
National Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 4305, 43/F., Tower One, Lippo Centre, 89 Queensway,
Admiralty, Hong Kong.
33301465
0829902
General Manager:
Mr. Jain Sudeep
HK$10,000,000.00
(As per registry dated 17-01-2015)
|
Name |
|
No. of shares |
|
Mohammed Azim ALI |
|
9,999,999 |
|
Jaideep SHARMA |
|
1 |
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|
––––––––– |
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Total: |
10,000,000 ======== |
(As per registry dated 17-01-2015)
|
Name (Nationality) |
Address |
|
Mohammed Azim ALI |
Pulau Li Hua, Lane
3, House #25B, 96000 Sibu, Sarawak, Malaysia. |
|
Anil Kumar SHARMA |
U A-57/5981 Jawahar
Nagar, Kamla Nagar, Delhi, India. |
(As per registry dated 17-01-2015)
|
Name |
Address |
Co. No. |
|
Karalon Ltd. |
31/F., 148 Electric
Road, North Point, Hong Kong. |
0155628 |
The subject was incorporated
on 17th January, 2003 as a private limited liability company under the Hong
Kong Companies Ordinance.
Formerly the subject
was located at Room 1602, 16/F., One Exchange Square, Central, Hong Kong, moved
to the present address in early 2011.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Timber,
log, plywood, building material.
Employees: 5.
Commodities Imported: Malaysia,
other Asian countries
Markets: Hong Kong, China, other
Asian countries
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Issued Share Capital: HK$10,000,000.00
Indebtedness: HK$402,324,388.00
(Total amount outstanding on all mortgages and charges as per last Annual
Return dated 17-01-2015)
Mortgage or Charge:
(See attachment)
Profit or Loss: Making
a small profit every year.
Condition: Business is active.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Bankers:-
Punjab National Bank,
Hong Kong Branch.
Bangkok Bank Public
Co. Ltd., Hong Kong Branch.
Canara Bank,
Hong Kong Branch.
UCO Bank,
Hong Kong Branch.
Union Bank of India,
Hong Kong Branch.
Standing: Good.
Lion Forestry Ltd. is
almost wholly-owned by Mr. Mohammed Azim Ali.
Ali is a Canada passport holder and currently residing in Sarawak,
Malaysia.
The subject increased
its issued share capital to HK$10 million in 20th June, 2011.
The directors of the
subject are Mohammed Azim Ali and Anil Kumar Sharma. The latter is an India passport holder and
residing in Delhi, India.
Incorporated in Hong
Kong in January 2003, the subject is trading in timber and log (mainly round
timber logs and sawn timber).
Most of the
commodities are imported from Malaysia.
Prime markets are Hong Kong, China, India, other Asian countries. Ali who is residing in Sarawak, is
responsible for the sourcing of timber in Sarawak as the region is rich in
forestry resources. Jaideep Sharma, old
minor shareholder of the subject, who is in India is responsible for the
distribution of timber in the country.
The subject has got affiliated companies both in Malaysia and
India. Business is rather active.
In recent years, the
subject also has been trading in plywood, veneer panels, red meranti wood, pine
logs, meranti wood logs, Gmelina wood, related building materials and even furniture.
The subject’s total
amount outstanding registered with the Companies Registry as at early January,
2015 amounted to HK$402.3 million.
However, it did not have any outstanding in 2015.
The subject’s
business is chiefly handled by Mr. Jain Sudeep who is an Indian. He is also
General Manager of the subject.
On the whole, having
a history of about twelve years and eight months in Hong Kong, the subject
is considered good for normal business engagements.
|
Date |
Description of Instrument |
Mortgagee |
|
23-11-2004 |
Undertaking Relating to Deposits |
UCO Bank, Hong Kong Branch. |
|
26-04-2005 |
Undertaking Relating to Deposits |
UCO Bank, Hong Kong Branch. |
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22-11-2005 |
Charge Over Deposit |
Bangkok Bank Public Co. Ltd., Hong Kong Branch. |
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11-04-2007 |
Undertaking Relating to Deposits |
UCO Bank, Hong Kong Branch. |
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25-10-2007 |
Undertaking Relating to Deposits |
UCO Bank, Hong Kong Branch. |
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23-03-2009 |
Undertaking Relating to Deposits |
Canara Bank, Hong Kong Branch. |
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18-12-2009 |
Charge on Deposit to secure the Depositor’s Obligations |
Punjab National Bank, Hong Kong Branch. |
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30-03-2010 |
Undertaking Relating to Deposits |
UCO Bank, Hong Kong Branch. |
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30-03-2010 |
Charge on Deposit |
Union Bank of India, Hong Kong Branch. |
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15-03-2011 |
Charge on Deposit |
Union Bank of India, Hong Kong Branch. |
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30-05-2011 |
Undertaking Relating to Deposits |
Canara Bank, Hong Kong Branch. |
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06-12-2011 |
Charge on Deposit to secure The Depositor’s Obligations |
Punjab National Bank, Hong Kong Branch. |
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15-10-2012 |
Charge on Deposit |
Union Bank of India, Hong Kong Branch. |
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21-02-2013 |
Undertaking Relating to Deposits |
Canara Bank, Hong Kong Branch. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.81 |
|
|
1 |
Rs.100.37 |
|
Euro |
1 |
Rs.70.68 |
|
HKD |
1 |
Rs.8.58 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
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.