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Report No. : |
355924 |
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Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
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Name : |
L.H.P. (HONG KONG) CO. LTD. |
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Registered Office : |
C/o Cornwall Secretarial
Services Ltd., Room 903, 9/F., 280 Portland Street, Mongkok, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
09.03.2007 |
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Com. Reg. No.: |
37706912 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
· The subject is trading in traditional product line includes woven and printed labels, patches, hangtags, size tabs, embroideries, buttons and rivets, zippers, ornaments and many more. · The subject also trades in genuine and synthetic leather accessories which includes belts, wallets, purses, bags, backpacks, towels, key chains and other promotional items. |
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No. of Employees : |
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 Hongkong |
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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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Hongkong |
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 |
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 |
L.H.P.
(HONG KONG) CO. LTD.
Registered Office:-
C/o Cornwall Secretarial Services Ltd.
Room 903, 9/F., 280 Portland Street, Mongkok, Kowloon,
Hong Kong.
(Formerly located at:
Room 03, 33/F., Cable TV Tower, 9 Hoi Shing Road, Tsuen
Wan, New Territories, Hong Kong.)
Associated
Companies:-
L.H.P USA, Inc.
20288 E. Carrey Road, Walnut, CA 91789, US.
[Phone Number: (714)883-0795
E-mail: yann@lhpusa.net
Contact Person: Yann Benchetrit
E-mail: cheong@lhpusa.net]
L.H.P. (China) Company Limited.
Rm. 1805-06, Shenhua Commerical Bldg., 2018 Jiabin Road,
Luohu District, Shenzhen SEZ, 518002 China.
[Phone Number: (86)755-8232-5165
E-mail: dave@lhpchina.net
Contact Person: Dave Chong]
37706912
1114280
9th March, 2007.
HK$10,000.00
(As per registry dated 09-03-2015)
|
Name |
Occupation |
No. of shares |
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Ohayon Benchetrit Yane |
Merchant |
6,500 |
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Pacific Formation (Hong Kong) Co. Ltd., Hong Kong. |
Corporation |
3,500 |
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|
––––– |
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Total: |
10,000 ===== |
(As per registry dated 09-03-2015)
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Name (Nationality) |
Address |
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CHEONG Ho Yiu |
Flat 5315, 53/F., Indi Home, 138 Yeung UK Road,
Tsuen Wan, New Territories, Hong Kong. |
(As per registry dated 09-03-2015)
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Name |
Address |
Co. No. |
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Cornwall Secretarial Services Ltd. |
Room 503, 5/F., 280 Portland Street, Mongkok, Kowloon,
Hong Kong. |
0953542 |
The subject was
incorporated on 9th March, 2007 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject
was located at ‘Room 03, 33/F., Cable TV Tower, 9 Hoi Shing Road, Tsuen Wan,
New Territories, Hong Kong’, moved to the present address with 9th March, 2015,
where is the operating address of a commercial service provider Cornwall
Secretarial Services Ltd. [Cornwall].
The old address of
Cornwall was located at Room 503, 5/F., 280 Portland Street, Mongkok, Kowloon,
Hong Kong.
Apart from these,
neither material change nor amendment has been ever traced and noted.
L.H.P. (Hong Kong)
Ltd. was incorporated on 11th June, 2004 as a private limited liability
company.
The subject does not
have its own operating office. Its
registered office is in a commercial service firm located at ‘Room 903, 9/F.,
280 Portland Street, Mongkok, Kowloon, Hong Kong’ known as ‘Cornwall Secretarial
Services Ltd.’ which is handling its correspondences and documents. Cornwall is
also the corporate secretary of the subject.
Long time ago, the
subject had its own office in Hong Kong, but not now.
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 of which 65% are owned by Mr. Ohayon Benchetrit Yane while
35% are owned by Pacific Formation (Hong Kong) Co. Ltd., a Hong Kong-registered
company.
The director of the
subject Mr. Cheong Ho Yiu is a Hong Kong merchant. He is also the only director of the subject.
The subject has had
an associated company in the United States known as L.H.P USA, Inc. [LHP USA]
which is operated by Ohayon Benchetrit Yane.
The subject also has
had an associated company in Shenzhen Special Economic Zone, China known as
L.H.P. (China) Company Limited [LHP China].
Founded in 2003, LHP
USA has rapidly grown into a reputable supplier of premium quality apparel
trims and accessories in Los Angeles, the United States.
Headquartered in
Walnut, California, LHP USA is a joint venture formed with Pacific Formation,
Inc., a group which owns factories in mainland China and Ohayon Benchetrit
Yane. Ohayon Benchetrit Yane is also the
contact person of LHP USA.
The subject is
trading in traditional product line includes woven and printed labels, patches,
hangtags, size tabs, embroideries, buttons and rivets, zippers, ornaments and
many more.
The subject also
trades in genuine and synthetic leather accessories which includes belts,
wallets, purses, bags, backpacks, towels, key chains and other promotional
items.
Products are exported
to Asian countries, Europe and chiefly to the United States.
Most of the products
are sourced from China or manufactured by LHP China. The business of LHP China is managed by Mr.
Cheong Ho Yiu who is also the contact person of the China company.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is over eight years and nine 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.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.14 |
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|
1 |
Rs.98.69 |
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Euro |
1 |
Rs.72.55 |
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HKD |
1 |
Rs.8.56 |
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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KAR |
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Report Prepared
by : |
NIT |
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.