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Report No. : |
307209 |
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Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SINO GIANT DEVELOPMENT LTD. |
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Registered Office : |
Room 6, 13/F., Factory B, Block 1, Camel Paint Building, 62 Hoi Yuen
Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.04.2010 |
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Com. Reg. No.: |
52142113 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF FABRICS. |
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No. of Employee : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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% of total system deposits in Hong Kong by the end of 2013. 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 34.9 million in 2012, 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 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% 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% in 2013. 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 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
SINO GIANT
DEVELOPMENT LTD.
ADDRESS: Room 6, 13/F., Factory B, Block 1, Camel Paint
Building, 62 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-3499 1705
FAX: 852-3499 1706
E-MAIL: kw002@kaiwanggroup.com
MANAGEMENT:
Managing Director: Mr. Du Yanjun
Incorporated on: 8th April, 2010.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Sincere Secretaries & Nominees Ltd.
Suite 1019, 10/F., Chinachem Golden Plaza, 77 Mody Road, Tsimshatsui
East, Kowloon, Hong Kong.
Operating Office:-
Room 6, 13/F., Factory B, Block 1, Camel Paint Building, 62 Hoi Yuen
Road, Kwun Tong, Kowloon, Hong Kong.
Associated
Companies:-
Beijing Junguan Garment Co. Ltd., China.
Beijing Kailong Yisheng Textile Co. Ltd., China.
Hebei Golden Kaiwang Garment & Textile Co. Ltd., China.
Wujiang Weiguan Textile Co. Ltd., China.
52142113
1440192
Managing Director: Mr. Du Yanjun
HK$10,000.00
(As per registry dated 08-04-2014)
|
Name |
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No. of shares |
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DU Yanjun |
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10,000 ===== |
(As per registry dated 08-04-2014)
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Name (Nationality) |
Address |
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DU Yanjun |
No. 17 Guandao Road, Shahe Village, Nanzhang Town, Rongcheng Xian, Baoding
City, Hebei Province, China. |
(As per registry dated 08-04-2014)
|
Name |
Address |
Co. No. |
|
Sincere Secretaries & Nominees Ltd. |
Suite 1019, 10/F., Chinachem Golden Plaza, 77 Mody Road, Tsimshatsui
East, Kowloon, Hong Kong. |
0460211 |
The subject was incorporated on 8th April, 2010 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 fabrics
Brand Name: Kaiwang.
Employees: 4.
Commodities Imported: China, other
Asian countries
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$10,000.00
Profit or Loss: Made
small profits in 2013 & 2014.
Condition: Business
is normal.
Facilities: Adequate
for current running.
Payment: Met as required.
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, Sino Giant Development
Ltd. is wholly owned by Mr. Du Yanjun 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 belongs to Kaiwang Group of companies which are
headquartered in Beijing, China. Du
Yanjun is also the president of Kaiwang Group.
The subject is a fabric trader.
It is trading in the following products: Lining, Pocketing, Interlining,
Waistband, Yarn-Dyed Fabrics
The Group’s main factory is in Hebei Province, China, known as Hebei
Golden Kaiwang Garment & Textile Co. Ltd. [Golden Kaiwang] which is a
dyeing and finishing, weaving and sewing base.
It covers an area of 35,000 sq.m.
Its annual production capacity is about 60 million yard. The followings are the daily production
capacity of Golden Kaiwang:-
Lining --- 250,000 yards,
Pocketing --- 200,000 yards,
Interlining --- 150,000 yards,
Waistband --- 80,000 yards,
Products are marketed in China, exported to Southeast Asia, Europe and
North America
The subject is responsible for exporting the Group’s products to
worldwide countries.
Kaiwang Group has set up offices in Vietnam, Indonesia, Bangladesh, and
the United States.
The business of the subject is improving. History in Hong Kong is over four years and
ten months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.95.17 |
|
Euro |
1 |
Rs.70.76 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
ANK |
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 |
|
-- |
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.