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Report No. : |
328639 |
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Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
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Name : |
FORTUNE SHIP TECHNOLOGY (HK) LTD. |
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Registered Office : |
C/o Alpha Partners Suite A, 11/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street, Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.03.2012 |
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Com. Reg. No.: |
59470498 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Electronic products, electronic devices, machine parts |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
FORTUNE SHIP
TECHNOLOGY (HK) LTD.
ADDRESS: C/o Alpha Partners
Suite A, 11/F., Ho
Lee Commercial Building, 38-44 D’Aguilar Street, Central, Hong Kong.
PHONE: 2512 0588
FAX: 2512 0580
Managing Director: Mr. Yao Jiang
Chao
Incorporated on: 1st
March, 2012.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Electronic Product Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Too early to comment.
Registered Head Office:-
c/o Alpha Partners
Suite A, 11/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street,
Central, Hong Kong.
Holding Company:-
Shenzhen Fortune Ship Technology Ltd., China.
59470498
1711624
Managing Director: Mr. Yao Jiang
Chao
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 01-03-2012)
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Name |
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No. of shares |
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Shenzhen Fortune Ship Technology Ltd. No. 401, A B District, TCL Ace Electronics Company, No. 33 Nanhai
Road, Nanshan District, Shenzhen, China. |
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10,000 ===== |
(As per registry dated 01-03-2012)
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Name (Nationality) |
Address |
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YAO Jiang Chao |
No. 2 Lejin Road West, Huicheng District, Huizhou City, Guangdong
Province, China. |
(As per registry dated 17-03-2012)
|
Name |
Address |
Co. No. |
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Worldtrade Business Consulting (HK) Ltd. |
Flat A, 7/F., Kwun Ngan House, 751A Nathan Road, Mongkok, Kowloon,
Hong Kong. |
1004807 |
The subject was incorporated on 1st March, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Initially the subject’s registered address was located at c/o Conson
Secretarial Ltd., Room 703, 7/F., Kowloon Building, 555 Nathan Road, Kowloon,
Hong Kong, moved to the present address with effect from 17th March, 2012,
as the subject has changed its commercial service provider.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: Electronic
products, electronic devices, machine parts
Employees: Nil.
Commodities Imported: Europe, US, Asian countries
Markets: China,
other Asian countries
Terms/Sales:
L/C, T/T
Terms/Buying: L/C,
T/T
Nominal Share Capital: HK$10,000.00 (Divided
into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Too
early to comment.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Fortune Ship
Technology (HK) Ltd. is wholly owned by Shenzhen Fortune Ship Technology Ltd.
[SFST] which is a China-based firm.
The only director of the subject Mr. Yao Jiang Chao is a China
merchant. He is a China ID Card holder
and does not have the right to reside in Hong Kong permanently.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Suite A, 11/F., Ho Lee Commercial Building, 38-44
D’Aguilar Street, Central, Hong Kong known as Alpha Partners which is handling
its correspondences and documents. It
has no employees in Hong Kong.
SFST is located at No. 401, A B District, TCL Ace Electronics Company,
No. 33 Nanhai Road, Nanshan District, Shenzhen, China. Yao Jiang Chao is the legal representative of
SFST.
SFST is trading in the following commodities: electronic products, electronic
devices, machine parts, etc. Commodities
are imported from Europe, the United States, Asian countries, etc. Prime markets are China, other Asian
countries
In late 2011, SFST decided to build a factory in Huizhou City, Guangdong
Province, China. Having a site area of
about 30,000 sq.m., the factory of SFST is engaged in manufacturing electronic
products. It was reported that the
factory had been under construction. It
is also likely that SFST deals with foreign parties under the name of the subject
and let foreign firms correspond with the subject’s registered address in Hong
Kong. SFST also exports commodities to
foreign markets under the name of the subject and its registered address in
Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is less than a month.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.64 |
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|
1 |
Rs.100.41 |
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Euro |
1 |
Rs.71.63 |
INFORMATION DETAILS
|
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.