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Report No. : |
355237 |
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Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
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Name : |
YIELDSTONE GROUP LTD. |
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Registered Office : |
c/o World Trade Enterprises Consultancy Ltd.
JTJ479, Room 2105, 21/F.,Trend Centre, 29-31 Cheung Lee Street, Chai Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.04.2010 |
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Com. Reg. No.: |
52119970 |
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Legal Form : |
Private limited liability company |
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Line of Business : |
The subject is a chemical trader. It is chiefly trading in caustic soda. |
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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 : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating office in hong kong |
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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
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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.
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Source
: CIA |
YIELDSTONE GROUP
LTD.
ADDRESS:
Registered Office:-
c/o World Trade Enterprises Consultancy Ltd.
JTJ479, Room 2105, 21/F.,Trend Centre, 29-31
Cheung Lee Street, Chai Wan, Hong Kong.
Associated Companies:-
Tianjin Xingkai Chem. Co. Ltd., China.
Tianjin Yieldstone Chem. Co. Ltd., China.
52119970
1446023
20th
April, 2010.
HK$10,000.00
(As per registry dated 20-04-2015)
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Name |
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No. of shares |
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YIN Fengtao |
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10,000 ===== |
(As per registry dated 20-04-2015)
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Name (Nationality) |
Address |
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YIN Fengtao |
JTJ479, Room 2105, 21/F., Trend Centre,
29-31 Cheung Lee Street, Chaiwan, Hong Kong. |
(As per registry dated 20-04-2015)
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Name |
Address |
Co. No. |
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World Trade Enterprise Consultancy Ltd. |
Unit 1302, 13/F., Railway Plaza, 39 Chatham
Road South, Tsimshatsui, Kolwoon, Hong Kong. |
1156560 |
Yieldstone Group Ltd. was incorporated on 20th
April, 2010 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 ‘JTJ479, Room 2105, 21/F., Trend Centre, 29-31
Cheung Lee Street, , Hong Kong’ known as ‘World Trade Enterprises Consultancy
Ltd.’ [WTE] which is handling its correspondences and documents. WTE is also the corporate secretary of the
subject. This company has several
offices in Hong Kong. ‘JTJ479’ is the
file name of the subject in WTE.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong
Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each which are
wholly-owned by Mr. Yin Fengtao who is 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 a chemical trader. It is chiefly trading in caustic soda.
The subject has had the following two associated
companies in China:-
Tianjin Yieldstone Chem. Co. Ltd. [Tianjin
Yieldstone]
Tianjin Xingkai Chem. Co. Ltd. [Xingkai]
Mr. Yin Fengtao is also the contact person of
Tianjin Yieldstone and Xingkai. Both
companies are located at the same address in Tianjin, China.
Xingkai was established in 1995 when
processing Caustic Soda Flakes (96%) was the main business of it. In order to meet the development requirement,
in 2000, Xinghai was developed into a multi-operation enterprise which focused
on processing and distributing Caustic Soda.
In 2005, Xingkai commenced to use its modern production lines and
changed its name to Tianjin Xingkai Chem. Co. Ltd.
Xingkai is engaged in manufacturing Caustic
Soda, which is one of the significant basic chemical materials broadly used in
chemical industry. Products of Xingkai
include but not limited to Caustic Soda Flakes (99%, 96%), Caustic Soda Solid
(99%, 96%) and Caustic Soda Pearl (99%), which are exported to international markets.
Xingkai also sells Caustic Soda Liquid and
Caustic Soda products bearing other brands such as Hong San Jing.
Xingkai’s products are marketed in China and
exported to the other Asian countries, business is normal.
However, the subject’s business in Hong Kong
is not active. History in Hong Kong
is over five years and seven 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.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.30 |
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|
1 |
Rs.98.71 |
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Euro |
1 |
Rs.72.33 |
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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
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DIV |
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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 |
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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.