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Report No. : |
302149 |
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Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SKY-CLORY INTERNATIONAL INDUSTRIAL LTD. |
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Registered Office : |
C/o Topful Consultants Co. Ltd. Unit 01-C3, 10/F., Carnival Commercial Building, 18 Java Road, North
Point |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.04.2013 |
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Com. Reg. No.: |
61264398 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading in all kinds of refractory. The products are Magnesia carbon
brick, Alumina-magnesia-carbon brick, Magnesia-aluminium-carbon brick, Aluminium-magnesia
spinel brick, Nozzle brick, Nozzle brick cup, Porous plug together with
various unshaped refractory materials. |
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No. of Employee : |
No Employee in Hong Kong 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 : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Under Deregistration |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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) |
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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% 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 |
SKY-CLORY
INTERNATIONAL INDUSTRIAL LTD.
Registered
Office:-
C/o Topful Consultants Co. Ltd.
Unit 01-C3, 10/F., Carnival Commercial Building, 18 Java Road, North
Point, Hong Kong
Associated
Company:-
Luoyang Elong Refractory Co. Ltd.
4F-Block C, the Greenland International, Crossing of Jinshui Road and
Dongfeng Road, Zhengzhou City, Henan Province, China.
[Tel: 86-371-8888 8998; Fax:
86-371-8888 6886]
61264398
1890289
11th April, 2013.
HK$10,000.00
(As per registry dated 11-04-2014)
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Name |
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No. of shares |
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GENG Xiangyang |
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1,000 ==== |
(As per registry dated 11-04-2014)
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Name (Nationality) |
Address |
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GENG Xiangyang |
1602 Unit, No. 3 Floor, Lvzhouyinjun, No. 56, Jingsan Road, Zhengzhou
City, Henan Province, China. |
(As per registry dated 11-04-2014)
|
Name |
Address |
Co. No. |
|
Topful Consultants Co. Ltd. |
Unit 01, 10/F., Carnival Commercial Building, 18 Java Road, North
Point, Hong Kong. |
1358835 |
The subject was incorporated on 11th April, 2013 as a private limited
liability company under the Hong Kong Companies Ordinance.
The subject currently is under the procedure of deregistration and it
will be formally deregistered on 25th February, 2015.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Please be advised that Sky-Clory International Industrial Ltd. is a
private limited company which is under the procedure of deregistration in
October 2014. It will formally be
deregistered on 25th February, 2015 unless an objection to the deregistration
of the subject is received by the authority before the above-mentioned date.
The subject was incorporated on 11th April, 2013 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 Unit 01-C3, 10/F., Carnival Commercial Building, 18
Java Road, North Point, Hong Kong known as Topful Consultants Co. Ltd. which is
handling its correspondences and documents.
This company is also the corporate secretary of the subject. “C3” is the file number of the subject in
Topful Consultant.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
1,000 ordinary shares of HK$10.00 each which are wholly-owned by Mr. Geng
Xiangyang 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. His registered
address is in Zhengzhou City, Henan Province, China.
According to your given China phone number 86-371-8888 8998, we can
reach a company known as Luoyang Elong Refractory Co. Ltd. [Elong]. Elong is trading in all kinds of refractory.
Elong was founded in 1986. It
covers an area of over 140,000 sq.m. and a structure area of 110,000 sq.m. with
750 employees including 85 engineers and technicians. It has been equipped with 180 sets of
production devices and 35 sets of detection devices. Its annual output is 180,000 ton refractory
products. In 2011, the company achieved
sales value of RMB270 million Yuan and in 2012, sales value totalled RMB350
million Yuan.
Elong has three subsidiaries: Xinmi Changxing Refractory Co. Ltd.
(merged in May 2012), Zhengzhou Changbo Industry Co. Ltd. (merged in November
2012). Xin’an Xinglong Mining Co. Ltd.
is a branch company of Elong.
With strong technical strength and advanced technology and equipment,
Elong has established technical cooperation relationship with a number of
research institutions and higher colleges and universities, such as Luoyang
Refractory Research Institute, Wuhan University of Science and Technology and
University of Science and Technology Beijing.
It is a professional manufacturer which integrates designing, producing and
servicing of the refractory material used for steel-making electric furnace,
steel ladle and middle ladle in metallurgical industry. The main products are Magnesia carbon brick,
Alumina-magnesia-carbon brick, Magnesia-aluminium-carbon brick, Aluminium-magnesia
spinel brick, Nozzle brick, Nozzle brick cup, Porous plug together with various
unshaped refractory materials. Its
products have been sold to numerous iron and steel enterprises in over 20
provinces, cities and autonomous regions of China. Moreover, its products also have be exported
to many countries including Kazakhstan, Thailand, Vietnam, Turkey, Ethiopia,
Iran, Malaysia, Georgia, Angola, Ghana, Laos, North Korea, Nigeria, Pakistan,
Iraq, Indonesia, Libya, Saudi Arabia and the United Arab Emirates, India.
The subject is trading in the same products as Elong.
Since the subject is under the procedure of deregistration, on the
whole, consider it not suitable for any business engagements.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.97 |
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|
1 |
Rs.94.97 |
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Euro |
1 |
Rs.74.43 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.