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Report No. : |
353863 |
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Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
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Name : |
BILLIONS (HONG KONG) CORPORATION LTD. |
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Registered Office : |
c/o Arrize Management (HK) Ltd. Unit B, 15/F.,
One Capital Place, 18 Luard Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.09.2014 |
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Com. Reg. No.: |
63829293 |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Not Available Note [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employee : |
No employees in Hong Kong. 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
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
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) |
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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 |
BILLIONS (HONG
KONG) CORPORATION LTD.
Registered Office:-
c/o Arrize Management (HK) Ltd.
Unit B, 15/F., One Capital Place, 18 Luard
Road, Wanchai, Hong Kong.
Holding Company:-
Heman Billions Chemicals Co. Ltd., China.
Associated Companies:-
Billions America Corporation, US.
Billions Europe Ltd., UK.
63829293
2145161
16th
September, 2014.
HK$1,000,000.00
(As per registry dated 16-09-2015)
|
Name |
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No. of shares |
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Heman Billions Chemicals Co. Ltd. Zhongshan District, Jiaozuo City, Henan
Province, China. |
|
1,000,000 ======= |
(As per registry dated 16-09-2015)
|
Name (Nationality) |
Address |
|
TAN Ruiqing |
No. 33, Building 20, No. 32 Court, Weisi
Road East, Jinshui District, Zhengzhou City, Henan Province, China. |
(As per registry dated 16-09-2015)
|
Name |
Address |
Co. No. |
|
Arrize Management (HK) Ltd. |
Unit B, 15/F., One Capital Place, 18 Luard
Road, Wanchai, Hong Kong. |
1660802 |
See
attachment
Billions (Hong Kong) Corporation Ltd. was
incorporated on 16th September, 2014 as a private limited liability company
under the Hong Kong Companies Ordinance.
The subject does not have its own operating
office. Its registered office is in a
commercial service firm located at ‘Unit B, 15/F., One Capital Place, 18 Luard
Road, Wanchai, Hong Kong’ known as ‘Arrize Management (HK) Ltd.’ [Arrize] which
is handling its correspondences and documents.
Arrize is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong
Kong, the subject has issued 1 million ordinary shares of HK$1.00 each
which are wholly-owned by Henan Billions Chemicals Co. Ltd. [HBC].
The director of the subject Mr. TAN Ruiqing
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. His registered
address is in Zhengzhou City, Henan Province, China. He is also the Vice Chairman of HBC.
HBC is a China-based company principally engaged
in the manufacture and distribution of fine chemical products. Its main products include titanium dioxide,
primarily consisting of rutile type titanium dioxide, which is applied in
paints, plastics, paper making, rubber, printing oil, chemical fibre, ceramics
and cosmetics industries, among others, as well as zirconium products and
aluminium sulphate, among others. HBC
distributes its products in domestic and overseas markets.
HBC, with total assets amounted to RMB3
billion yuan, is a large inorganic fine chemical enterprise concentrated on the
development and manufacture of titanium and zirconium fine powder
materials. It is a public company
bearing stock code 002601 and has been listed in Shenzhen Stock Exchange.
HBC is a state-level high-tech enterprise,
one of the top 500 national chemical enterprises, outstanding private
enterprise and one of the top 100 private enterprises recognized by Henan
government. Its main products are
titanium dioxide, zirconium and sulphate products whose scales are the top in
China. Its products are sold all over
China and also exported to North America, Japan, Brazil, Asian countries.
HBC has been conferred the title of "Key
Import Enterprises in Henan Province" and "Key Export Enterprises in
Henan Province" for several years. It also has got the certificates of ISO
9001:2008 Quality Management System, GB/T24001-2004 Environmental Management
System and GB/T28001-2001 Occupational Health and Safety Management System.
The following table shows the financial
highlights of HBC:
Unit: RMB’ million
|
FY |
2014 |
2013 |
2012 |
|
Operating Revenues |
2,051.3 |
1,722.5 |
1,803.8 |
|
Profit Attributable to Shareholders of HBC |
63.1 |
23.6 |
184.5 |
|
Total Assets |
4,642.4 |
3,577.9 |
3069.6 |
The following table shows the financial
highlights of the subject:
Unit: RMB’ million
|
FY |
2015 (from Jan to Sept) |
2014 |
|
Operating Revenues |
633.6 |
15.0 |
|
Operating Profit/(Loss) |
10.4 |
(2.8) |
|
Net Profit/(Loss) |
9.5 |
(2.8) |
|
Total Assets |
325.5 |
107.4 |
As at year ended 2014, HBC has 2,224
employees.
The subject has been banking with Bank of
China (Hong Kong) Ltd., Hong Kong.
It is fully supported by HBC.
The subject’s business in Hong Kong is not
active. History in Hong Kong is just
over a year and two months.
Since the subject does not have its own
operating office and has no employees in Hong Kong, consider it good for
business engagements on L/C basis.
|
Date |
Description of Instrument |
Mortgagee |
|
11-08-2015 |
Security Deed
Over Debts and Collection Account |
Bank of China (Hong Kong) Ltd.,
Hong Kong. |
|
24-09-2015 |
Security Deed
Over Debts and Collection Account |
Bank of China (Hong Kong) Ltd.,
Hong Kong. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
HKD |
1 |
Rs.8.66 |
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 : |
TRU |
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 |
|
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 |
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-- |
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.