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Report No. : |
302749 |
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Report Date : |
19.01.2015 |
IDENTIFICATION DETAILS
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Name : |
TRUMP HONEST HOLDINGS LTD. |
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Registered Office : |
Flat A, 11/F., North Cape Commercial Building, 388 King’s Road,
North Point |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.06.2006 |
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Com. Reg. No.: |
36821870 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of chemical fibres,
paper, building materials, chemicals, building materials, machinery &
equipment. |
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No. of Employee : |
2 [Including Affiliates] |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Business is Not Very Active in Hong Kong |
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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 – 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.
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Source
: CIA |
Former Located At:
(Room 1203, 12/F., Union Park Tower,
168 Electric Road, North Point, Hong Kong.)
TRUMP HONEST
HOLDINGS LTD.
ADDRESS: Flat A, 11/F., North Cape
Commercial Building, 388 King’s Road, North Point, Hong Kong.
PHONE: Not available
Managing Director: Mr. Ke Wengui
Incorporated on: 5th June, 2006.
Organization: Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 2. (Including affiliates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
TRUMP HONEST
HOLDINGS LTD.
Registered Head
Office:-
Flat A, 11/F., North Cape Commercial Building, 388 King’s Road,
North Point, Hong Kong.
Associated
Company:-
Fujian Derong Textile Technology Trade Co. Ltd., China.
Fujian Jinxing Group, China.
Fujian Zhengqi High-fibre Technology Co. Ltd., China.
Hainan Yisheng Petrochemical Co. Ltd., China.
Jinjiang Hongchang Paper Products Co. Ltd., China.
Jinjiang Jinfu Chemical Fibre & Polyester Co. Ltd., China.
Jinjiang Jinxing New Construction Material Co. Ltd., China.
Jinjiang Jinxing Trade Co. Ltd., China.
Jinjiang Quanrun Fine Chemical Co. Ltd., China.
Jinxing (Fujian) Chemical Fibre & Textile Co. Ltd., China.
Quanzhou Kinho Construction Machinery Technology Co. Ltd., China.
36821870
1049772
Managing Director: Mr. Ke Wengui
Contact Person: Mr. Sze Chi Kui
HK$10,000.00
(As per registry dated 05-06-2014)
|
Name |
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No. of shares |
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KE Wengui |
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3,000 |
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HONG Xiubei |
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7,000 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 05-06-2014)
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Name (Nationality) |
Address |
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KE Wengui |
431 Jinjiang Village, Yinglin Town, Jinjiang City, Fujian Province,
China. |
(As per registry dated 05-06-2014)
|
Name |
Address |
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SZE Chi Kui |
Flat A, 11/F., North Cape Commercial Building, 388 King’s Road, North
Point, Hong Kong. |
The subject was incorporated on 5th June, 2006 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Room 1203, 12/F.,
Union Park Tower, 168 Electric Road, North Point, Hong Kong where was the
operating office of a commercial service provider. It moved to the present address in April
2013.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All kinds of chemical
fibres, paper, building materials, chemicals, building materials, machinery
& equipment.
Employees: 2. (Including affiliates)
Commodities Imported: China.
Markets: China, other
Asian countries, Europe.
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: Keeping a balance
account in Hong Kong.
Condition: Business is not
active in Hong Kong.
Facilities: Making fairly
active use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hong Kong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Trump Honest
Holdings Ltd. is jointly owned by Mr. Ke Wengui, holding 30% interests;
Mr. Hong Xiubei, holding 70%. Both
are China merchants. The former is also
director of the subject. He is a Hong
Kong ID holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject’s registered office is in a business centre located at Flat
A, 11/F., North Cape Commercial Building, 388 King’s Road, North Point,
Hong Kong. Its business is handled
by Mr. Sze Chi Kui.
The subject has had an associated company Fujian Jinxing Group [Group]
which is a China-based company.
The headquarters of the Group is located in Yinglin Town, Jinjiang City,
Fujian Province, China. Constructed in
1997 and started production in January 1998, the Group now has more than 5,000
employees. The Group is engaged in
chemical industry, chemical fibres, textile products, building materials, paper
products, engineering machinery & equipment, investment, etc. The group now has more than ten subsidiaries
in China.
The group is mainly engaged in the development and production of
polyester filament products, including low-elastic filament, high-elastic
filament and meshwork filament and other differentiated and functional fibres
and Polyester staple fibres. Its annual
production capacity is 800,000 tons of polyester; 350,000 tons of polyester
filament yarn; 250,000 tons of polyester staple fibre; 190,000 tons of
differential fibre; 30,000,000 meters of nylon-cotton fabric; 20,000 tons of
chemical fibre weaving oil, industrial lubricating oil and vehicle oil;
8,000,000 paper tubes of DTY/POY/FDY; 5,000,000 square meters of honeycomb
cardboard; 5,000,000 square meters of Autoclaved aerated brick; 1,000 sets of
excavators and Grab machines.
Those products are sold to domestic end-users, exported to Europe,
Southeast Asia, the other countries and regions.
The Group has got the ISO9001:2001 certification. Its “Jinxing” brand was recognized as “China
Famous Trademark”. The Group has got
other honours as well, such as ‘Fujian Top Four Chemical Fibre Production
bases’, ‘Fujian key Supported Enterprises’, ‘Fujian Top 300 Industrial
Enterprises’, ‘Fujian Top 10 industrial
Enterprises’ and ‘An enterprise with tax contribution over a hundred RMB
million Yuan’.
The President of the Group is also Ke Wengui.
The subject’s business in Hong Kong is not very active. History in Hong Kong is over eight years
and seven months.
On the whole, consider it good for normal business engagements in small
credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.89 |
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|
1 |
Rs.93.92 |
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Euro |
1 |
Rs.72.00 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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.