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Report No. : |
354834 |
|
Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LINK WIDE INTERNATIONAL INVESTMENT (HONG KONG)
LTD. |
|
|
|
|
Registered Office : |
Room 1301, 13/F., West Wing, Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan |
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|
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Country : |
Hongkong |
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Date of Incorporation : |
27.08.2003 |
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|
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Com. Reg. No.: |
33887295 |
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|
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Legal Form : |
Private Limited Company |
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Line of Business : |
Commodity Trader, Investor & Iron Ore Swap Inter-Dealer Broker. |
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No. of Employees : |
8 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
LINK WIDE INTERNATIONAL
INVESTMENT (HONG KONG) LTD.
ADDRESS: Room 1301, 13/F., West Wing,
Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan, Hong Kong.
(Formerly
located at:
2/F., Kam
Sang Building, 255-257 Des Voeux Road Central, Hong Kong.)
PHONE: 852-2907
6338
E-MAIL: linkwidesklo@gmail.com
Chairman: Mr. Han Wen Chen
Incorporated on: 27th August, 2003.
Organization: Private Limited Company.
Issued Share Capital: HK$20,000,000.00
Business Category: Iron
& Steel Trader.
Employees: 8.
Main Dealing Banker: Bank
of China (Hong Kong) Ltd., Hong Kong.
Chiyu Banking
Corporation Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 1301, 13/F., West Wing, Shun Tak Centre, 168-200
Connaught Road Central, Sheung Wan, Hong Kong.
Holding Company:-
Tangshan Baoye Industrial Holding Co. Ltd., China.
Associated/Affiliated Companies:-
Comonwealth Trust Ltd., British Virgin Islands.
Shaanxi Baoye Chenhui Real Estate Co. Ltd., China.
Shaanxi Hanzhong Iron & Steel Group Co. Ltd., China.
Tangshan Banbidian Steel Co. Ltd., China.
Tangshan Baoye Development Co. Ltd., China. [Dissolved]
Tangshan Shougang Baoye Iron & Steel Co. Ltd., China.
Tangshan Baoye Group of Companies
33887295
0859146
Chairman: Mr. Han
Wen Chen
Contact Person:
Ms. Chan Ying Chun
HK$20,000,000.00
(As per registry dated 27-08-2015)
|
Name |
|
No. of shares |
|
HAN Wen Chen |
|
20,000,000 ======== |
(As per registry dated 27-08-2015)
|
Name (Nationality) |
Address |
|
HAN Wen Chen |
1, Building 202, Second Small District, Banbi Village,
Kaiping Town, Kaiping District, Tangshan City, Hebei Province, China. |
|
WANG Li Xin |
Banbi Village West, Kaiping District, Tangshan City,
Hebei Province, China. |
|
CHAN Ying Chun |
Room 3413, 34/F., Wah Yuet House, Tin Wah Estate,
Tin Shui Wai, New Territories, Hong Kong. |
(As per registry dated 15-09-2015)
|
Name |
Address |
Co. No. |
|
BS Corporate Services Ltd. |
Units 1901-1902, 19/F., Wah Hing Commercial Building, 283
Lockhart Road, Wanchai, Hong Kong. |
0843939 |
The subject was
incorporated on 27th August, 2003 as a private limited liability company under
the Hong Kong Companies Ordinance.
It was originally registered
under the name of Link Wide International Investment Ltd., and the name was
changed to present style on 5th September, 2003.
Formerly the subject
was located at ‘2/F., Kam Sang Building, 255-257 Des Voeux Road Central, Hong
Kong’, moved to the present address in May 2015.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities & Lines: Commodity
Trader, Investor & Iron Ore Swap Inter-Dealer Broker.
Office Area: 2,560 sq.ft.
Employees: 8.
Commodities Imported: China,
etc..
Business Territories:
Hong Kong, China, other Asian
countries.
Terms/Sales: COD or as per contracted.
Terms/Buying: As per contracted.
Issued Share Capital: HK$20,000,000.00
Mortgage or Charge (Since
2009): (See attachment)
Profit or Loss: Business
is profitable.
Condition: Keeping
in a normal manner.
Facilities: Making
active use of general banking facilities.
Payment: Regularly met.
Commercial Morality:
Satisfactory.
Bankers:-
Shanghai Commercial
Bank Ltd., Hong Kong.
Bank of China
(Hong Kong) Ltd., Hong Kong.
Chiyu Banking
Corporation Ltd., Hong Kong.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
CITIC Bank
International Ltd., Hong Kong.
Cooperatieve Centrale
Raiffeisen-Boerenleenbank B.A. [Business names: Rabobank Nederland, Rabobank
and Rabobank International], Hong Kong Branch.
Standing: Good.
Link Wide International
Investment (Hong Kong) Ltd. [LWII] was incorporated in Hong Kong on 27th
August, 2003 as a private limited liability company. With an issued capital of HK$20,000,000.00,
the company is solely owned by a PRC merchant known as Mr. Han Wen Chen.
LWII is chiefly
trading in iron and steel, and building materials.
LWII is in fact one
of the members of the Baoye Group in China.
Baoye Group is based in Tangshan, Hebei province. Through more than 30 years of effort, it has
become a large cross-industry enterprise group combining steel, real estate,
domestic and foreign trade, warehousing, logistics and mining as one. Group headquarters is based in Beijing.
Mr. Han Wen Chen is
also the President of Baoye Group. He is
also managing director of Shaanxi Hanzhong Iron & Steel Group Co. Ltd.,
China.
Following 30 years’
reform and opening up in China, Baoye Group has developed to be one of the
leading private enterprises in Mainland China.
Domestic industry mainly centralizes in Beijing, Hebei, Shanxi, Hainan
province with branches set up in Hong Kong and Singapore; foreign business in
India, South Korea, Australia, Brazil, Europe, North America and other
countries and regions.
Since its
establishment, Baoye Group has won the awards as “the quality trustworthy
enterprise”, “AAA + grade credit customer”,
“environmental management standard enterprise”, China iron and steel
enterprise advanced collective”, “National Technical Innovation Award”, “The
National Quality & Benefit Advanced Enterprise”, “National Enterprise
Management Outstanding Contribution Award”, “The National Civilized Unit” and a
series of other honours.
LWII was set up in
Hong Kong as an overseas platform for Baoye Group. It is engaged in commodity trading, investing
and dealing as an iron ore swap inter-dealer broker. Since its incorporation, LWII took advantage
of Baoye Group’s development in the iron and steel industry, has already
gathered extensive experiences in the field of international trading of
commodities like steel products, iron ore and coal, etc.
Since 2011, LWII has
entered into the fields of financial derivatives for commodities like iron ore
swap. LWII has become one of the members
of Chicago Mercantile Exchange (CME Group) and also the Inter-Dealer Brokers
(IDB) of SGX (member code:S778).
LWII has established
direct business relationship with top international investment banks. Relying on its own rich experiences in the
commodity trades and experiences in the over the counter (OTC) field, LWII will
provide clients with services for both physical commodity trades and service of
IDB for OTC. In addition, LWII also
provides professional advice and consulting service about hedging and arbitrage
to the clients.
Tangshan Baoye
Industrial Holding Co. Ltd. [TBIH] is
regarded as the holding company of LWII.
The registration details of TBIH are as follow:-
Name: TBIH
Registration
Number: 130000000006870
Address: Banbi Village West, Kaiping District,
Tangshan City, Hebei Province, China.
Date of
Incorporation: 20th June, 2003
Capital: RMB120,000,000.00
Legal
Representative: Han Wen Chen
Operating
Period: 20th June, 2003 to 17th June,
2023.
Company Type: Limited Liability Company (natural
investment)
Registration
Authority: Tangshan AIC
The president, Mr. Han
Wen Chen, born in December 1957, was ranked as the 261st richest men in China
in 2008 with a personal net worth of RMB3 billion Yuan.
In early 2015, LWII
bought its office located at Shun Tak Centre at a consideration of HK$52.8
million. The office covers an area of
2,560 sq.ft.
Since the output of
iron and steel in China has been excess and the demand is decreasing, the
Chinese government issued an order to iron and steel companies to cut down
their production capacity in early 2015.
The companies of Han Wen Chen will be hit in the first.
LWII is fully
supported by its associated companies in China.
On the whole, in view
of the background of LWII, consider it good for normal business engagements.
Court case:-
|
Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
02-07-2014 |
H1235 |
Jovian Corporate Communications Ltd. |
Link Wide International Investment (Hong Kong)
Ltd. |
Land |
HK$2,380,000 |
(Since 2009)
|
Date |
Description of
Instrument |
Mortgagee |
|
02-12-2009 |
Trade Finance Security Assignment |
Cooperatieve Centrale
Raiffeisen-Boerenleenbank B.A. [Business names: Rabobank Nederland, Rabobank
and Rabobank International], Hong Kong Branch. |
|
23-07-2010 |
Deed of Indemnity, Charge Over Deposit(s) and Set-off |
Bank of China (Hong Kong) Ltd., Hong Kong. |
|
26-04-2011 |
Deed of Indemnity, Charge Over Deposit(s) and Set-Off |
Chiyu Banking Corporation Ltd., Hong Kong. |
|
07-10-2011 |
Trade Finance Security Assignment |
CITIC Bank International Ltd., Hong Kong. |
|
19-09-2012 |
Security Over Deposits |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
|
20-04-2015 |
Mortgage |
Shanghai Commercial Bank Ltd., Hong Kong. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.85 |
|
|
1 |
Rs.100.58 |
|
Euro |
1 |
Rs.73.16 |
|
HKD |
1 |
Rs.8.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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.