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Report No. : |
354254 |
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Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
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Name : |
HONG KONG CHENYU LTD. |
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Registered Office : |
Unit A, 4/F., Ever Gain Centre, 28 On Muk Street, Shek Mun, Shatin, New Territories |
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Country : |
Hong Kong
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Date of Incorporation : |
01.02.2012 |
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Com. Reg. No.: |
59378452 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Logistic Service Provider of Electronic products, IT products and equipment, auto electronics, household electric appliances. |
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No. of Employees : |
15 [Including Affiliated Company] |
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) |
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Hong Kong |
A1 |
A1 |
|
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 |
(Formerly located at:
Unit A, 21/F., Dynamic Cargo Centre,
188 Yeung Uk Road, Tsuen Wan,
New Territories, Hong Kong.)
HONG KONG CHENYU
LTD.
ADDRESS: Unit A, 4/F., Ever Gain Centre, 28 On Muk
Street, Shek Mun, Shatin, New Territories, Hong Kong.
PHONE: 852-2423 3133
FAX: 852-2423 3144
MANAGEMENT:
Managing Director: Mr. Xu Yujia
Incorporated on: 1st February, 2012.
Organization: Private Limited Company.
Issued Share Capital: HK$6,294,920.00
Business Category: Logistic
Service Provider.
Employees: 15. (Including affiliated company)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONG KONG
CHENYU LTD.
Registered Head Office:-
Unit A, 4/F., Ever Gain Centre, 28 On Muk Street, Shek Mun, Shatin, New
Territories, Hong Kong.
59378452
1702472
Managing Director: Mr. Xu Yujia
HK$6,294,920.00
(As per registry dated 01-02-2015)
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Name |
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No. of shares |
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CHEN Chaoyong 2 Chenglong Street, Wangcheng Town, Zhaoyang City, Hubei Province,
China. |
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6,294,920 ======= |
(As per registry dated 01-02-2015)
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Name (Nationality) |
Address |
|
XU Yujia |
3rd Group, Yingyong Village, Guangsi Village, Ranshou County, Sichuan
Province, China. |
(As per registry dated 01-02-2015)
|
Name |
Address |
Co. No. |
|
Chan Wong Secretary Ltd. |
Room 3906, 39/F., Metroplaza Tower 2, 223 Hing Fong Road, Kwai
Chung, New Territories, Hong Kong. |
1723717 |
The subject was incorporated on 1st February, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Grand Business
Capital Investment Ltd., name changed to the present style on 13th June, 2014.
Formerly the subject was located at Unit A, 21/F., Dynamic Cargo Centre,
188 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong, moved to the present
address in May 2014.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Logistic
Service Provider.
Lines: Electronic
products, IT products and equipment, auto electronics, household electric
appliances.
Employees: 15. (Including affiliated company)
Commodities Imported: China, other
Asian countries, Europe, US.
Markets: China,
other Asian countries, Europe, North America.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P.
Issued Share Capital: HK$6,294,920.00
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is fairly active.
Facilities: Adequate
for current running.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued 6,294,920 ordinary shares of HK$1.00 each, Hong Kong
Chenyu Ltd. is wholly owned by Mr. Chen Chaoyong who is a China merchant. The director of the subject Mr. Xu Yujia is
also a China merchant.
He is a China ID 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 affiliated company of Luen Fu International
Development Ltd.[Luen Fu] as it is using Luen Fu’s operating address as its
corresponding address. Luen Fu is a Hong
Kong-registered company.
The subject is engaged in the same lines of business as Luen Fu.
The subject is a logistic service provider. It is engaged in providing customers with the
following commodities: Electronic Products, IT Products and Equipment, Auto
Electronics, Household Electric Appliances.
Besides, it also provide customers with the following commodities:
Cereals & Oils, Agricultural Products, Wines, Chemicals, Mining
Products, Ferrous and Non-Ferrous Metals, Medical Products, Pharmaceuticals.
The subject has had the following suppliers:-
WPG Holdings Ltd., Taiwan.
Chimei Inndux Corporation, Taiwan.
Samsung, South Korea.
Synnex Technology International Corporation, Taiwan.
IMB, United States, etc.
Besides, the subject also provides clients with the following services:-
Commodities Sourcing;
Contract Manufacture Management;
Financial Supply Chain E-business;
Financing;
Logistic Service;
Supply Chain Services &
Marketing Information.
The subject’s business and documents are chiefly handled by Luen
Fu. History in Hong Kong is just over
three years and ten months.
On the whole, consider it good for normal business engagements in small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
HKD |
1 |
Rs.8.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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 |
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-- |
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.