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Report No. : |
352364 |
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Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAINT
REES-AMARON (INT'L) CO. LTD. |
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|
|
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Registered Office : |
Room C, 16/F., Block 5, Central Park Towers,Tin Shui Wai, New
Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.02.2015 |
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Com. Reg. No.: |
64448652 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and exporter of iron & steel materials, steel products, building materials |
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No. of Employee : |
8 (Including
Affiliates) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
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Status : |
New business |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 |
SAINT
REES-AMARON (INT'L) CO.
LTD.
C/o Cheong Shing
Metal Products Fty. Ltd., DD 124, Lot 1028, Shek Po Road, Hung Shui Kiu, New Territories,
Hong Kong. (Operating Office)
Room
C, 16/F., Block 5, Central Park Towers,Tin Shui Wai, New Territories, Hong Kong
(Registered Office)
PHONE : 852-2447 1225
FAX: 852-2447 1803
Managing
Director: Mr. Yang Suwen
Incorporated
on: 27th
February, 2015.
Organization: Private
Limited Company.
Capital: Nominal:HK$10,000.00
Business Category:
Importer and Exporter
Employees: 8. (Including affiliates)
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Operating Office:-
c/o Cheong Shing
Metal Products Fty. Ltd.
DD 124, Lot 1028,
Shek Po Road, Hung Shui Kiu, New Territories, Hong Kong.
Associated Company:-
Langfang Saint Rees
Amaron Movable House Co. Ltd.
No. 372 Xiangyun
Road, Langfang E&T Development Zone, Hebei Province, China.
Other Associated/Affiliated
Companies:-
ASA (HK) Ltd.,
Hong Kong.
Cheong Shing Metal
Products Fty. Ltd., Hong Kong.
Saint Rees –
Amaron (HK) Co. Ltd., Hong Kong.
64448652
2206754
Managing
Director: Mr. Yang Suwen
HK$10,000.00
(As
per registry dated 27-02-2015)
|
Name |
|
No.
of shares |
|
YANG Suwen |
|
10,000 ===== |
(As
per registry dated 27-02-2015)
|
Name (Nationality) |
Address |
|
YANG Suwen |
Room 501, Kehua Road Apartment, Minying
Scientific Park, 1633 Beitai Road, Taihe Town, Baiyuan District, Guangzhou City,
Guangdong Province, China. |
(As
per registry dated 27-02-2015)
|
Name |
Address |
Co.
No. |
|
J H
Corporation Services Ltd. |
Room 1910, 19/F., Tuen Mun Parklane Square, 2 Tuen Hi Road, Tuen
Mun, New Territories, Hong Kong. |
1414223 |
The
subject was incorporated on 27th February, 2015 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: Importer and Exporter
Lines: Iron & Steel materials,
steel products, building materials.
Employees: 8.
(Including affiliates)
Commodities
Imported: China, other Asian countries,
etc.
Markets: Asian countries, Europe, etc.
Terms/Sales: 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: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having
issued 10,000 ordinary shares of HK$1.00 each, Saint Ree-Amaron (Int’l) Co.
Ltd. is wholly owned by Mr. Yang Suwen who is a China merchant.
He
is a China 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 is using the operating office Cheong Shing Metal Products Fty. Ltd.
[Cheong Shing] which is located at ‘DD 124, Lot 1028, Shek Po Road, Hung
Shui Kiu, New Territories, Hong Kong’ as its corresponding address. The subject has had a main associated company
Saint Rees – Amaron (HK) Co. Ltd., a Hong Kong-registered company located at
the same address.
However,
the registered address of the subject is in a residential building located at
‘Room C, 16/F., Block 5, Central Park Towers, Tin Shui Wai, New Territories,
Hong Kong’.
The
subject is trading in iron & steel materials, steel products, building
materials, etc.
The
subject has had an associated company in Langfang City, Hebei Province, China
known as Langfang Saint Rees Amaron Movable House Co. Ltd. [LSRAMHCL] which is
a China-based and registered company.
However, this company also has not registered with the Companies
Registry of Hong Kong.
LSRAMHCL
is located at ‘No. 372 Xiangyun Road, Langfang E&T Development Zone, Hebei
Province, China’ bearing registration No: 131000400003668. It is a solely foreign-owned
enterprises. The owner is also Mr. Yang
Suwen. Its registered capital is HK$100,000.00.
The
scope of business of LSRAMHCL covers manufacturing and selling Light Movable
House, related accessories, steel structure parts and metal products. It was registered on 31st May, 2009. This company has 72 employees while 13
of them are senior engineers and administrative staff, 25 are technicians. Its products have been sold to the United
States, Canada, Australia, Holland, Ukraine, the United Arab Emirates,
etc. Its main customers are Prostud Pty.
Ltd. from Australia, S. T. Lumber Home Center from the United States, Ooo
City Story and Silan Ltd. from Ukraine, etc.
The
subject belongs to the Saint Rees Amaron Group.
Established
in 1992, Saint Rees Amaron Group has founded a steel mining branch in Liaoning,
set up a production base of light steel keel system in Langfang, Hebei, and set
up its head office in Yunhe industrial park of Guangzhou, Guangdong Province,
China.
Saint
Rees Amaron light steel keel production factory area is about 40,000 square
meters, with more than 60 units of steel keel.
It has been equipped with production lines, integration tooling
machines, stamping, bending, forming, and packaging machines.
It
is engaged in manufacturing high quality light steel keel and ceiling profile
system by high graded zinc plated iron materials.
Saint
Rees Amaron Group has set up a research and development department with a team
of engineers who are familiar with light steel keel system and prefabricated
house.
The
subject’s business is chiefly handled by Mr. Yang Suwen. History in Hong Kong is just over nine years.
On
the whole, since the history of the subject is short, consider it good for
normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
HKD |
1 |
Rs. 8.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
|
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.