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Report No. : |
353444 |
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Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
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Name : |
FORTUNE SHIP TECHNOLOGY (HK) LIMITED |
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Registered Office : |
Suite A, 11/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street, Central |
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Country : |
Hongkong |
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Date of Incorporation : |
01.03.2012 |
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Com. Reg. No.: |
59470498 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Offshore Company |
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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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 12.5% 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.
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Source
: CIA |
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Company Name (in English): |
Fortune Ship Technology (HK) Limited |
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Supplied Name: |
FORTUNE SHIP TECHNOLOGY (HK) LTD |
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Supplied Address: |
Room A11/F, Ho Lee, commercial Building, 38-44, Aguilar Street central |
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Credit Opinion: |
Since we consider subject as an offshore
company, thus we did not give credit rating at present. |
We cannot find subject’s
any operation information or valid contact information in Hong Kong through public
files according to supplied name and address.
We tried to contact with
the subject through the supplied number +86-755-26397379, the relevant staff
Mr. Li introduced that this phone belongs to the subject’s parent company
“Shenzhen Fortune Ship Technology Co., Limited” and he also confirmed that the
subject is an offshore company, however, he told us that subject’s parent
company can handle all the business and introduced its operation information
for us without disclosure of any relevant about subject’s business entity.
As subject’s registered
address is that of corporate secretary (Worldtrade Business Consulting (HK)
Limited), based on subject’s registered files and our investigation, we
consider subject as an offshore company.
We found subject’s
registered files from Hong Kong registry, supplying as following for reference.
|
Registered Name: |
|
|
Registered Address: |
Suite A, 11/F.,
Ho Lee Commercial Building, 38-44 D’Aguilar Street, Central, Hong Kong |
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Date of Registration: |
2012-3-1 |
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Registered Number: |
1711624 |
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Business Registration No.: |
59470498 |
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Paid-up Capital: |
HKD 780,000 (USD 100,620) = 780,000 Shares@
HKD 1 (As of 2015.12, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2015-3-1 |
Subject was incorporated on 2012-3-1 with the registered
number 1711624 as Private Limited Liability Company in Hong Kong.
Change of Capital:
Particulars of the increase are as follows:
|
Date of Resolution |
Paid-up Capital |
Amount of Additional Paid-up Capital |
New Amount of Total Paid-up Capital |
|
2014-8-9 |
HKD 10,000 |
HKD 770,000 |
HKD 780,000 |
The additional Capital is divided as follows:
|
Class of Shares |
Number of Shares |
Nominal Value per Share |
|
Ordinary |
780,000 |
HKD 1 |
Parent Company
|
Name: |
Shenzhen Fortune Ship Technology Co.,
Limited |
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Trading Address: |
6-7th Floor, Kingson Building, New energy
and innovation industrial park, Chuangsheng Road 1st , Xili town, Nanshan District,
Shenzhen City, Guangdong Province, the mainland of China |
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Tel: |
+86-755-26397500/21608600/26397379 |
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Fax: |
+86-755-21608700 |
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Date of Registration: |
2010-6-17 |
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Registered Number: |
440301104748599 |
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Registered Capital: |
CNY 20,000,000 |
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Term of Operation: |
From 2010-6-17 to 2040-6-17 |
|
Legal Representatives: |
Yao Jiangchao |
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Legal Form: |
Limited Liability Company |
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Shareholder: |
Yao Jiangchao Yu Yan |
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Description: |
The company is mainly engaged in manufacturing
of electronic products and etc. It is introduced that the company has
factories and related factories in Shenzhen City and Huizhou City, the
mainland of China and India for production. It is introduced that the company purchases
its components and etc both at home and abroad. The company’s major products include smart
phone, feature phone, table PC and etc. Subject’s selling territory includes Asia,
America, Europe and etc. Subject’s major customers are
telecommunication industry and etc. |
|
Contact Person: |
Mr. Li (Mobile number: +86-13632773557) |
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Subscription Shares |
Proportion of Investment (%) |
|
|
Shenzhen Fortune Ship Technology Co.,
Limited |
780,000 |
100% |
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Total |
780,000 |
100% |
Major Shareholder Information:
|
Name: |
Shenzhen Fortune Ship Technology Co.,
Limited |
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Address: |
No.401, A B District, TCL Ace Telectronics
Company No.33 Nanhai Road, Nanshan District, Shenzhen City, Guangdong
Province, China |
Core Management
Detailed Information of Directors:
|
1 |
|
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Name: |
Yao Jiangchao |
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Address: |
No.2, Lejin Road West, Huicheng District,
Huizhou City, Guangdong Province, China |
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Position: |
Director |
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China ID Number: |
132322198110100574 |
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2 |
|
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Name: |
Worldtrade Business Consulting (HK) Limited |
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Former Address: |
Flat A, 7/F., Kwun Ngan House, 751A Nathan
Road, Mongkok, Kowloon, Hong Kong |
|
Address: |
Suite A, 11/F., Ho Lee Commercial Building,
38-44 D’Aguilar Street, Central, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
1004807 |
Subject does not have business entity in Hong
Kong.
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.
Subject does not have business entity in Hong
Kong, thus we cannot obtain the relevant information.
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
|
Date: |
2015-08-14 |
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Court Name: |
District Court Civil Action |
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Court No.: |
2056 |
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Claimant: |
PENTACLE GROUP LIMITED DCCJ 2056/2015 |
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Defendant: |
FORTUNE SHIP TECHNOLOGY(HK) LIMITED |
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Reason: |
Summons (For time) |
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2 |
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Date: |
2015-05-12 |
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Court Name: |
District Court Civil Action |
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Court No.: |
2056 |
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Claimant: |
PENTACLE GROUP LTD c/o Akara Building, 24 De Castro Street, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands c/o Mok & Co., Solicitors (a firm) (DCCJ) |
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Defendant: |
FORTUNE SHIP TECHNOLOGY(HK) LTD c/o Suite A, 11/F, Ho Lee Commercial Building, 38-44 D'Aguilar Street, Central, HK |
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Reason: |
Debt |
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Amount: |
USD 86,000.00 |
Mortgage Record
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Company Name: |
Fortune Ship Technology (HK) Limited (“The Customer”) |
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Instrument of Creating Mortgage: |
Assignment of DC Proceeds |
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Date of Creating Mortgage: |
2012-12-27 |
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Amount Secured: |
All loans or other advances made or to be
made by the Bank to the Customer against documents submitted under a Documentary
Credit, all monies and liabilities in any currency owing by the Customer to
the Bank at any time, whether separately or jointly, actually or
contingently, present or future, interest on all loans and advances and such
monies and all expenses of the Bank in perfecting or enforcing the
Assignment. |
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Name of Mortgagee: |
The Hongkong and Shanghai Banking
Corporation Limited |
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Address of Mortgagee: |
No.1 Queen’s Road Central, Hong Kong |
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Description of Property Mortgaged: |
By way of assignment or agreement to assign
in each case as beneficial owner. All monies in any currency representing
proceeds payable or to be paid to the Customer under the Documentary Credits
(as described in the Assignment of DC Proceeds), all the Customer’s right,
title, benefit and interest in the said Documentary Credits, the benefit of
all powers and remedies for enforcing the Documentary Credits and any payment
made pursuant to the contract for sale of goods in connection with which the
Documentary Credit is issued (together the “Assigned Proceeds”. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.73.46 |
|
HKD |
1 |
Rs.8.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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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 |
|
|
-- |
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.