|
Report No. : |
301720 |
|
Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
YE-STEEL TRADING CO., LIMITED |
|
|
|
|
Registered Office : |
Room 01, 21/F, Prosper Commercial Building,
9 Yin Chong Street, Kowloon |
|
|
|
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Country : |
Hongkong |
|
|
|
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Date of Incorporation : |
04.09.2008 |
|
|
|
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Com. Reg. No.: |
39751935 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Offshore Company |
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|
|
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Payment Behaviour : |
Unknown |
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|
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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% 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 |
|
Company Name (in English): |
Ye-Steel Trading Co., Limited |
|
Supplied Name: |
YE STEEL TRADING CO. LTD |
|
Supplied Address: |
FLAT/RM 01,21/F, PROSPER COMMERCIAL BUILDING,9 YIN CHONG STREET,
KOWLOON HONG KONG |
We can not find any operation information of
subject through public files, and subject’s registered address is that of
subject’s secretary corporate, based on subject’s registered files and our
investigation, we consider subject as an offshore company.
We found subject’s registered files from local
registry, supplying as following for reference.
|
Registered Name: |
|
|
Registered Address: |
Room 01, 21/F,
Prosper Commercial Building, 9 Yin Chong Street, Kowloon, Hong Kong |
|
Date of Registration: |
2008-9-4 |
|
Registered Number: |
1270362 |
|
Business Registration No.: |
39751935 |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD
1 (As of 2015.01, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-9-4 |
Subject was incorporated on 2008-9-4 with the
registered number 1270362 as Private Limited Liability Company in Hong Kong.
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Beijing Hengxing Yan Steel Co., Limited (Liberal Translation) |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
Name: |
Beijing Hengxing Yan Steel Co., Limited (Liberal Translation) |
|
Address: |
Room 1802, No. 55 Building, Dong San Huan
Central Road, Chaoyang District, Beijing City, China |
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Xia Hongwei |
|
Address: |
Room 201, No. 29, Lane 4633, Dushi Road,
Minxing District, Shanghai City, China |
|
Position: |
Director |
|
ID Number: |
23020419720391127 |
|
2 |
|
|
Name: |
Wang Shuli |
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Address: |
No. 8, Shui Chang Cun, Ma Lan Zhuang, Qian
An City Hebei Province, China |
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Position: |
Director |
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ID Number: |
130226590216809 |
|
3 |
|
|
Name: |
Zhang Hai |
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Address: |
No. 35, liu guan ying cun, Ma Lan Zhuang,
Qian An City Hebei Province, China |
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Position: |
Director |
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ID Number: |
13022619680830834 |
|
4 |
|
|
Name: |
Xi Jinsong |
|
Address: |
Room 702, No. 1, Lane 315, Wudong Road,
Yangpu District, Shanghai City, China |
|
Position: |
Director |
|
ID Number: |
33010619690902001X |
|
5 |
|
|
Name: |
Cui Qingyuan |
|
Address: |
201, Nong Hang Jia Shu Building, Qianan Town,
Qianan City, Hebei Province, China |
|
Position: |
Director |
|
ID Number: |
130226196911038036 |
|
6 |
|
|
Name: |
Yuan Yingqi |
|
Address: |
Room 201, No, 16, Lane 308, Yushan Road, Pu
Dong Xin District, Shanghai City, China |
|
Position: |
Director |
|
ID Number: |
210102196712265651 |
|
7 |
|
|
Name: |
Hong Kong Daiyan Registrations Limited |
|
Address: |
Room 01, 21/F, Prosper Commercial Building,
9 Yin Chong Street, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
952329 |
Subject does not have business entity in Hong
Kong.
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the only source from which we can obtain
the information is the subject itself.
Subject does not have business entity in Hong
Kong, thus we can not obtain the relevant information.
Mortgage Record
|
1 |
|
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Company Name: |
Ye-Steel Trading Co., Limited (the “borrower”) |
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Instrument of Creating Mortgage: |
Trade finance security assignment (the
“assignment”) |
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Date of Creating Mortgage: |
2012-4-24 |
|
Amount Secured: |
All obligations and liabilities of whatever nature
of the Borrower owed to the Bank at any time and in any currency and whether
present or future, actual or contingent and whether owed solely or jointly or
severally with or as surety for another and all costs and expenses incurred
by the Bank in connection with the recovery of any of the above or the
enforcement of the Assignment on a full indemnity basis (the ”Secured
Liabilities"). |
|
Name of Mortgagee: |
United Overseas Bank Limited (the
“Bank”) Incorporated under the Laws of
Republic of Singapore |
|
Address of Mortgagee: |
80 Raffles Place, UOB Plaza, Singapore
048624 |
|
Description of Property Mortgaged: |
The Borrower as beneficial owner and as
security for the payment of all Secured Liabilities:- (a) assigns
and agrees to assign absolutely to the Bank all the present and future
rights, title, interests and benefits of the Borrower in and to the following
assets:- (i) the
Export Credits; (ii) the
Export Collection Bills; (iii) the
Sales Contracts; (iv) the
Export Invoice Receivables; (v) the
Insurances; (vi) the
Trade Documents; and (vii) all
claims, remedies and proceeds in connection with any of the foregoing; (b) charges
and agrees to charge to the Bank by way of first fixed charge all the present
and future rights, title, interests and benefits of the Borrower in and to
the following assets:- (i) the
Goods together with their
proceeds; (ii) the
Pledged Goods; (iii) the
Deposit and (iv) to
the extent any Security Assets is not effectively assigned under sub-clause
(a), such Security Asset; and (c) pledges and agrees to pledge to the Bank
the Pledged Goods and the Trade Documents which are now or may in the future
be in the possession of the Bank. The Borrower shall not create or permit to
exist any Security Interest or any other interest of whatever nature on or
over any of the Security Assets in favour of any person other than the Bank. |
|
2 |
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Company Name: |
Ye-Steel Trading Co., Limited (the “company”) |
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Instrument of Creating Mortgage: |
Assignment of letters of credit |
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Date of Creating Mortgage: |
2010-11-2 |
|
Amount Secured: |
To secure general banking facilities granted
to Ye-Steel Trading Co., Limited |
|
Name of Mortgagee: |
United Overseas Bank Limited (the
“Bank”) Incorporated under the Laws of
Republic of Singapore |
|
Address of Mortgagee: |
80 Raffles Place, UOB Plaza, Singapore
048624 |
|
Description of Property Mortgaged: |
All the Company’s rights, title，interest and benefit in and to all and any moneys now or at any time
due or owing to the Company under or in 、connection with
each of the Export Credits and alt other rights and benefits whatsoever
accruing now or at any time to the Company thereunder or in connection
therewith upon the terms set out in the Assignment of Letters of Credit. "Export Credit” means letters of credit
issued in the Company's favour and deposited with the Bank from time to time
pursuant to the Assignment of Letters of Credit. |
|
|
|
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Company Name: |
Ye-Steel Trading Co., Limited (the “company”) |
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Instrument of Creating Mortgage: |
General memorandum of pledge of goods |
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Date of Creating Mortgage: |
2010-11-2 |
|
Amount Secured: |
To secure general banking facilities granted
to Ye-Steel Trading Co., Limited |
|
Name of Mortgagee: |
United Overseas Bank Limited (the
“Bank”) Incorporated under the Laws of
Republic of Singapore |
|
Address of Mortgagee: |
80 Raffles Place, UOB Plaza, Singapore
048624 |
|
Description of Property Mortgaged: |
All the Company’s rights, title and interest
in and to the Merchandise. “Merchandise” means all goods bills of
lading warrants delivery orders and all documents of title and securities
whatsoever now or at any time or times hereafter delivered to or deposited
with the Bank or its agents or nominees in Hong Kong or elsewhere have been
or will be so delivered or deposited by way of pledge as security for the
payment on demand to the Bank of all sums of money which now are or at any
time or times hereafter may become due or owing or may be accruing or
becoming due to the Bank by the Company on any account or in respect of any
liability whatsoever whether actual or contingents or otherwise together in
all cases with interest and all other banking and legal charges and costs (on
a full indemnity basis) incurred in relation to this security of the
enforcement hereof and so that interest shall be computed (as well after as
before any demand or judgment) according to the usual mode of the Bank in
dealing with current accounts. |
|
4 |
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Company Name: |
Ye-Steel Trading Co., Limited (the “company”) |
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Instrument of Creating Mortgage: |
Addendum to charge over accounts and set-off |
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Date of Creating Mortgage: |
2010-11-2 |
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Amount Secured: |
To secure general banking facilities granted
to Ye-Steel Trading Co., Limited |
|
Name of Mortgagee: |
United Overseas Bank Limited (the
“Bank”) Incorporated under the Laws of
Republic of Singapore |
|
Address of Mortgagee: |
80 Raffles Place, UOB Plaza, Singapore
048624 |
|
Description of Property Mortgaged: |
The addendum, as an integral part of the
Charge Undertaking, varies the Charge Undertaking in terms of the deposits in
the Account being differentiated and identified as being protected or not
protected (as the case may be) by or under the Scheme and/or the Guarantee
and such variation shall come to effect from the date of the Charge
Undertaking until the Expiry Date. From the date immediately following the
Expiry Date, the payment of compensation for your deposits with respect to
the protection limit pursuant to the protection level following the
principles of the Scheme shall remain applicable，as and wherever appropriate. |
|
5 |
|
|
Company Name: |
Ye-Steel Trading Co., Limited (the “company”) |
|
Instrument of Creating Mortgage: |
Charge over account and set-off |
|
Date of Creating Mortgage: |
2010-11-2 |
|
Amount Secured: |
To secure general banking facilities granted
to Ye-Steel Trading Co., Limited |
|
Name of Mortgagee: |
United Overseas Bank Limited (the
“Bank”) Incorporated under the Laws of
Republic of Singapore |
|
Address of Mortgagee: |
80 Raffles Place, UOB Plaza, Singapore
048624 |
|
Description of Property Mortgaged: |
All the Company’s rights, title and interest
in and to the Account. “Account” means all deposits, renewals and
interest thereon and monies which are deposited with or come into the custody
or control of the Bank in any account or accounts with the Bank whether in
the Company’s name alone or jointly with any other person (including any
account or accounts whether in or outside Hong Kong, into which any of the
moneys from time to time standing to the credit of the Company, in whatever
currency denominated, may be placed). |
|
6 |
|
|
Company Name: |
Ye-Steel Trading Co., Limited (the “company”) |
|
Instrument of Creating Mortgage: |
Trade finance security deed (the “deed”) |
|
Date of Creating Mortgage: |
2010-9-20 |
|
Amount Secured: |
All obligations and liabilities of whatever
nature of the Company owed to the Bank at any time and in any currency and
whether present or future, actual or contingent and whether owed alone or
jointly or severally with or as surety for another and all costs and expenses
incurred by the Bank in connection with the recovery of any of the above or
the enforcement of the Deed on a full indemnity basis (the "Secured
Liabilities”). |
|
Name of Mortgagee: |
Standard Bank Pic (the “Bank”）which includes all its branches and offices wherever situated, its
successors and assigns. |
|
Address of Mortgagee: |
20 Gresham Street, London EC2V 7JE |
|
Description of Property Mortgaged: |
The Company as beneficial owner and as
security for the payment of all Secured Liabilities:- (a) assigns
and agrees to assign absolutely to the Bank all the present and future
rights, title, interests and benefits of the Company in and to the following
assets:- (i) the
Export Credits; (ii) the
Export Collection Bills; (iii) the
Contracts; (iv) the
Invoice Receivables; (v) the
Trade Documents; (Vi) the
Insurances; and (vii) all
claims, remedies and proceeds in connection with any of the foregoing and (b) charges
and agrees to charge to the Bank by way of first fixed charge all the present
and future rights, title, interests and benefits of the Company in and to the
following assets:- (i) the Goods together with their proceeds;
and (ii) the Charged Account and all monies at any
time standing to the credit of the Charged
Account, including all interest from time to time accrued or accruing on such monies; and (c) pledges
and agrees to pledge to the Bank the Pledged Goods and the Trade Documents
which are at the date of the Deed or may thereafter be in the Bank's
possession. |
Up to now, no present or latent litigation of
the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
|
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 |
|
|
<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.