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Report No. : |
354479 |
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Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
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Name : |
WILD C LTD. |
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Registered Office : |
Room 424, 4/F., Sino Industrial Plaza, 9 Kai Cheung Road, Kowloon Bay,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.07.2012 |
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Com. Reg. No.: |
60135059 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of aquatic products. |
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No. of Employee : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small company |
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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 |
|
Risk Category |
ECGC
Classification |
|
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 |
WILD C LTD.
ADDRESS: Room 424, 4/F., Sino Industrial
Plaza, 9 Kai Cheung Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 852-8170 0104
E-MAIL: info@wildc.hk
MANAGEMENT
Managing Director: Mr. Steindor
Sigurgeirsson
Incorporated on: 24th July, 2012.
Organization: Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 15.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 424, 4/F., Sino Industrial Plaza, 9 Kai Cheung Road, Kowloon Bay,
Kowloon, Hong Kong.
Associated
Companies:-
Chairman Stormur Seafoot ehf, Iceland.
FG Turbot, Iceland.
Fjelagio hf, Iceland.
La Ferme Ltd., Hong Kong.
Nautilus Equity Holdings Ltd., Iceland.
Nautilus Fisheries Ltd., Hong Kong.
60135059
1777812
Managing Director: Mr. Steindor
Sigurgeirsson
HK$10,000.00
(As per registry dated 24-07-2015)
|
Name |
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No. of shares |
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Steindor SIGURGEIRSSON |
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10,000 ===== |
(As per registry dated 24-07-2015)
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Name (Nationality) |
Address |
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Steindor SIGURGEIRSSON |
S243, Hebe Haven Yacht Club, Pak Sha Wan, Hirams Highway, Hong Kong. |
(As per registry dated 24-07-2015)
|
Name |
Address |
Co. No. |
|
Sunwell Accounting & Secretarial Ltd. |
Unit A-C, 25/F., Seabright Plaza, 9-23 Shell Street, North Point, Hong
Kong. |
0344808 |
The subject was incorporated on 24th July, 2012 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, Exporter
and Wholesaler.
Lines: All kinds of
aquatic products
Employees: 15.
Commodities Imported: Europe,
Asian countries, Iceland
Markets: Hong Kong, China,
other Asian countries
Terms/Sales: CAD, or as per
contracted.
Terms/Buying: L/C, T/T, O/A
Issued Share Capital: HK$10,000.00
Profit or Loss: Made a small
profit in 2014.
Condition: Business is improving.
Facilities: Adequate for
current running.
Payment: So far so good.
Commercial Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Wild C Ltd. is
wholly owned by Mr. Steindor Sigurgeirsson who is an Iceland merchant.
He is an Iceland 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 an aquatic product trader. It is operating an online shop. Its products are imported from Iceland
including prawns, lobsters, whelks, salmons, mackerel, halibut, cods and plaice
The subject is a seafood retailer that is specialised in frozen fish at
premium rates. It offers customers with
delivery service.
The subject’s fish come from sustainable sources, in the well managed
and clean waters of Iceland.
With strong ties to its mother company, the subject’s associated company
has been selling to countries such as the United Kingdom, France and
Germany. In 2012, the subject commenced
to sell its products in Hong Kong at competitive prices.
The subject has had a number of associated companies in Hong Kong and in
Iceland. One of the significant one is
La Ferme Ltd. which is registered in Hong Kong.
La Ferme is a seafood importer and distribution company in Hong Kong and
China. Most of its products are coming
from its sister company in Iceland where the sustainability program is known as
the ‘Iceland Responsible Fisheries (IRF) Program’.
La Ferme is specialized in wild caught, frozen at sea product from
Iceland. Frozen-at-sea technology, allows fish to be process on board of the fishing
vessel within hours of harvest.
It customers include fine restaurants, 5-Star hotels and supermarkets in
Hong Kong and China. At present its
popular product is Atlantic Cod.
Other products it is stocked include Atlantic Mackerel, Icelandic Whelk,
Lemon Sole, Plaice, Wolfish, Smoked Salmon
The business of the subject keeps on improving. History in Hong Kong is just over three years
and four months.
On the whole, consider it good for normal business engagements in small
credit amounts for the time being.
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 |
|
|
|
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Report Prepared
by : |
ANK |
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 |
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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 |
-- |
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.