MIRA INFORM REPORT
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Report No. : |
320091 |
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Report Date : |
05.05.2015 |
IDENTIFICATION DETAILS
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Name : |
WING SHUN TRADING COMPANY |
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Registered Office : |
Flat/Rm C, 11/F, Heng Wan Bldg, 446-450 Hennessy
Rd, Causeway Bay HK |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.11.2009 |
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Com. Reg. No.: |
51401267 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Not Available Note: We tried to confirm
/ obtain the detailed activity but the same is not available from any
sources. |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy protests that began in late September probably will have some adverse effects on economic growth, particularly retail sales.
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Source
: CIA |
Contact Points
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Company Name (in Chinese): |
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Company Name (in English): |
Wing Shun Trading Company |
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Supplied Name: |
WING SHUN TRADING COMPANY |
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Supplied Address: |
FLAT C, 11/F, HEN WAH BLDG, 446-450 HENNESSY ROAD, CAUSEWAY BAY HONG
KONG. |
Credit
Summary
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Credit Opinion: |
In view of the absence of information about subject’s
status, caution should be exercised. |
Special
Note
We made an on-site visit to the supplied address that is a private residence; and we didn’t find subject’s name plate. The person who is at this location refused to introduce any information for us.
We tried to contact subject many times through the telephone number +852-2388-3056 which we obtained from public files, but no one answered the phones.
According to the supplied name and address, we can not find any operation information or other valid contact information of subject.
We found subject’s registration information as follows for reference.
Company
Identification Details
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Registered Name: |
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Registered Address: |
Flat/Rm C, 11/F,
Heng Wan Bldg, 446-450 Hennessy Rd, Causeway Bay HK |
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Date of Registration: |
2009-11-12 |
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Business Registration No.: |
51401267 |
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Legal Form: |
Proprietorship |
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Principal Activities: |
N/A |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
Notes: It is not required
for Proprietorship to register capital. Since we didn’t contact subject
successfully, the principal activities and staff number are not available from
any sources.
History
Subject was incorporated on 2009-11-12 with the Business Registration No.: 51401267 as Proprietorship in Hong Kong.
Corporate
Structure
Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.
Owner
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Name: |
Choy, Ka Thwan |
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Address: |
Flat/Rm C, 11/F, Heng Wan Bldg, 446-450
Hennessy Rd, Causeway Bay HK |
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ID Number: |
H1493134 |
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Date of Appointment: |
2009-11-12 |
Operation
Information
Since we failed to contact with the subject, the operation information is not available from any sources.
Settlements
Since we didn’t contact subject successfully, the settlement information is not available from any sources.
Financial
Information
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.
Since we didn’t contact subject successfully, the financial information is not available from any sources.
Bankers
Since we didn’t contact subject successfully, the bank information is not available from any sources.
Public
Mortgage
Record
Mo mortgage of subject were found.
Lawsuits
Up to now, no present or latent litigation of the subject has been found.
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High Court Action: |
Clear |
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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 |
Attachment
We made an on-site visit to the supplied address that is a private residence; and we didn’t find subject’s name plate. The person who is at this location refused to introduce any information for us.
Flat/Rm C, 11/F, Heng Wan Bldg, 446-450 Hennessy Rd, Causeway Bay HK
Flat/Rm C, 11/F, Heng Wan Bldg, 446-450 Hennessy Rd, Causeway Bay HK
Flat/Rm C, 11/F, Heng Wan Bldg, 446-450 Hennessy Rd, Causeway Bay HK
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 63.57 |
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|
1 |
Rs. 97.98 |
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Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
DPT |
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 |
-- |
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.