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Report No. : |
328948 |
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Report Date : |
30.06.2015 |
IDENTIFICATION DETAILS
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Name : |
YUTONG HONGKONG LIMITED |
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|
|
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Registered Office : |
Unit 503, 5F, Silvercord Tower
2, 30 Canton Rd., Tsimshatsui |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.03.2006 |
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Com. Reg. No.: |
1030804 |
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Legal Form : |
Private Limited Liability
Company |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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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 |
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Status : |
Offshore company |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 12.5% of total system
deposits in Hong Kong by the end of 2014. 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 47.3
million in 2014, 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 2014 mainland Chinese companies constituted about
50% of the firms listed on the Hong Kong Stock Exchange and accounted for about
60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source : CIA |
|
Company
Name (in English): |
Yutong
Hongkong Limited |
|
Supplied
Name: |
Yutong
Hong Kong Limited |
|
Supplied
Address: |
Unit
503 5/F Slivercord Tower 2 30 Canton ROad Tsim Sha Tsui Kl |
Note: The exact name is as above.
|
Credit Opinion: |
We cannot find subject’s any operation information
or valid contact information in Hong Kong through public files according to
supplied name.
According to the supplied address, which is also
subject’s registered address, and we found a telephone number +852-2507-7219
from public files. We tried to contact the subject through the number, and a
lady answered the phone said her company name SBC Corporation Services Limited,
which is engaged in providing registration and accounting services. She also
said the supplied belongs to her company and the subject is only registered on
it. She declined to disclose other information of the subject.
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: |
Unit 503, 5F, Silvercord Tower
2, 30 Canton Rd., Tsimshatsui, Hong Kong |
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Date of Registration: |
2006-3-16 |
|
Registered Number: |
1030804 |
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Business Registration No.: |
36544658 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = Shares@ HKD 1 (As of 2015.5, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-3-16 |
Subject was incorporated on 2006-3-16 with the
registered number 1030804 as Private Limited Liability Company in Hong Kong.
Subject did not register any
subsidiaries or branches, from other source we can not obtain the relevant
information, either.
|
Subscription
Shares |
Proportion
of Investment (%) |
|
|
Zhengzhou Yutong Bus Co., Ltd. |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major
Shareholder Information:
|
Name: |
Zhengzhou Yutong Bus Co., Ltd. |
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Address: |
Yutong Rd. Guan Cheng Dist., Zhengzhou, Henan,
China |
|
1997-1-8 |
|
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Registered Number: |
410000100025322 |
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Registered Capital: |
RMB 2,215,998,393 |
|
Legal Representative: |
Yuxiang Tang |
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Registered Principal Activities: |
The company is engaged in manufacturing and sale of
the raw materials and equipment of vehicles, machinery equipment,
motorcycles, cars, hardware, chemicals, etc. |
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Jiao Yanbin |
|
Address: |
No. 7, Feng Huang Rd., Guan Cheng Hui Zu Dist.,
Zhengzhou Henan, China |
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Position: |
Director |
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ID Number: |
142201198312061459 |
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Date of Appointment: |
2015-4-22 |
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2 |
|
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Name: |
SBC Corporate Services Limited |
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Address: |
Rm. B, 10F, Tower A, Billion Centre, 1 Wang Kwong
Rd., Kowloon Bay, Kowloon, Hong Kong |
|
Position: |
Company Secretary |
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Registered Number: |
618863 |
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Email: |
|
Former
Director
|
Name: |
Cao Jianwei |
|
Address: |
No. 22, Block 2, Yard 316, Long Hai East Rd., Guan
Cheung Hui Zu Dist., Zhengzhou, Henan, China |
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Position: |
Director |
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Passport Number: |
G27218809 |
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Issuing Country: |
China |
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Date of Cessation: |
2015-4-22 |
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 cannot obtain the relevant information.
Mortgage Record
No mortgage record of the subject was found.
Up to now, no present or latent litigation of the
subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration
Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.63.91 |
|
UK Pound |
1 |
Rs.100.40 |
|
Euro |
1 |
Rs.70.41 |
INFORMATION DETAILS
|
Analysis
Done by : |
KAS |
|
|
|
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Report
Prepared by : |
ASH |
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.