MIRA INFORM REPORT
|
Report No. : |
322391 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
CARAVEL CARBONS LIMITED |
|
|
|
|
Registered Office : |
21st Floor, Central Plaza, 18 Harbour Road, Wanchai |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
10.03.2013 |
|
|
|
|
Com. Reg. No.: |
1975350 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of iron ore and coal |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
Contact
Points
|
Company Name: |
Caravel Carbons Limited |
|
Supplied Name: |
CARAVEL CARBONS LTD, |
|
Trading Address: |
21st Floor, Central Plaza, 18 Harbour Road,
Wanchai, Hong Kong |
|
Supplied Address: |
21ST FLOOR, CENTRAL PLAZA, 18 HARBOUR ROAD, WANCHAI, HONGKONG |
Note: The exact name and address are as above.
Credit
Summary
|
Credit Opinion: |
Since the
subject is a newly established company, the future development remains to be
seen. At this stage credits require securities. |
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
21st Floor, Central
Plaza, 18 Harbour Road, Wanchai, Hong Kong |
|
Telephone Number: |
+852-2100-2000 |
|
E-mail: |
|
|
Date of Registration: |
2013-10-3 |
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Registered Number: |
1975350 |
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Business Registration No.: |
62123690 |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 1,000 Shares @ HKD 10 (As of 2015.5, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
68312-Nickel
Alloys (KG) |
|
Principal Activities: |
Trading of iron ore and coal, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-10-3 |
Note: Subject declined to disclose its staff number, and from other source we can’t
obtain the information, either.
History
Subject was incorporated on 2013-10-3 with the registered number 1975350 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Parent Company
|
Name: |
Caravel Carbons Inc. |
|
Address: |
KCS Chambers PO Box 4051 Road Town Tortola
British Virgin Island |
|
Stake Interest in Subject: |
100% |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Caravel Carbons Inc. |
1,000 |
100% |
|
Total |
1,000 |
100% |
Major Shareholder
Information:
|
Name: |
Caravel Carbons Inc. |
|
Address: |
KCS Chambers PO Box 4051 Road Town Tortola
British Virgin Island |
Management
Information
Core
Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Banga Angad |
|
Address: |
House B1, Villa Cecil 200 Victoria Road,
Hong Kong |
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Position: |
Director |
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ID Number: |
P454487(4) |
|
2 |
|
|
Name: |
Bhatnagar Anuraag |
|
Address: |
7A, Tower 2, Garden Terrace, 8A, Old Peak
Road, Mid Levels, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P
|
|
3 |
|
|
Name: |
Banga Harindarpal Singh |
|
Address: |
House B 1, Villa Cecil 200 Victoria Road,
Hong Kong |
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Position: |
Director |
|
ID Number: |
K259193(6) |
|
4 |
|
|
Name: |
Banga Guneet |
|
Address: |
House B 1, Villa Cecil 200 Victoria Road,
Hong Kong |
|
Position: |
Director |
|
ID Number: |
P079410(8) |
|
5 |
|
|
Name: |
Secreco Limited |
|
Address: |
8th Floor, Gloucester Tower, The
Landmark, 15 Queen’s Road Central, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
139490 |
Operation
Information
Offices
& Factories
|
|
Office |
|
Address: |
21st Floor,
Central Plaza, 18 Harbour Road, Wanchai, Hong Kong |
Premises
Information
Office address:
|
Address: |
21st Floor Central Plaza No.18 Harbour Road
Hong Kong |
|
Owners: |
Cheer City Properties Limited Tenant in Common (1/2) Protasan Limited Tenant in Common (1/2) |
|
Memorial Number: |
-- |
|
Date of Instrument: |
-- |
|
Date of Registration: |
-- |
|
Consideration Value: |
-- |
History
of Premises Owners’
|
1 |
|
|
Memorial No.: |
14121100610303 |
|
Date of Instrument: |
2014-11-6 |
|
Date of Registration: |
2014-12-11 |
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Nature: |
Tenancy Agreement with Plan Re Office Unit No. 2105 Remarks: For
18 months and 17 days from 1.10.2014 to 17.4.2016 with an option for renewal
for a further term of 3 years |
|
In Favor of: |
Caravel Resources Limited |
|
Consideration: |
The rent is $47,898.00 per month |
|
2 |
|
|
Memorial No.: |
13100900380073 |
|
Date of Instrument: |
2013-9-12 |
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Date of Registration: |
2013-10-9 |
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Nature: |
Tenancy Agreement with Plan Re Office Unit No.2106 Remarks: Term: 33 months from 18.7.2013 to
17.4.2016 with an option for renewal for a further term of 3 years |
|
In Favor of: |
Caravel Resources Limited |
|
Consideration: |
The rent is $112,000.00 per month |
|
3 |
|
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Memorial No.: |
13062800620190 |
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Date of Instrument: |
2013-5-30 |
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Date of Registration: |
2013-6-28 |
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Nature: |
Tenancy Agreement with Plan Re Office Unit
Nos. 2101, 2107-2108 |
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In Favor of: |
Caravel Resources Limited |
|
Consideration: |
The rent is HK$499,896.00 per month |
Production
Information
l Subject is a trader of iron ore and coal, etc. without any production activities.
Purchase
Information
l It is introduced that subject purchases its products from both home and
abroad, such as Mainland China, Australia and Russia, etc.
Sales
Information
l
Subject is engaged in
sale of iron ore and coal, etc.
l
Subject’s major products
are iron ore, coal (both
thermal and metallurgical), metallurgical coke, anthracite, nickel, chrome and
manganese ores, etc.
l It is introduced that subject’s products are mainly applied to steel
industry and other power generation industries.
l Subject’s sale regions cover Mainland China, India, Southeast Asia and
Europe, etc.
l Subject’s major customers are factories of cement, chemical, sugar and
textile, etc.
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Iron
ore and coal, etc. |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Iron
ore and coal, etc. |
|
Payment Terms |
L/C, T/T, etc. |
1.
Domestic Markets
|
Product |
Iron
ore and coal, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Iron
ore and coal, etc. |
|
Selling Terms |
L/C, T/T, etc. |
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.
Subject’s relevant staff rejected to disclose the financial information; from other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Public
Mortgage
Record
|
1 |
|
|
Company Name: |
Caravel Carbons Limited (“the Chargor”) |
|
Instrument of Creating Mortgage: |
Trade Finance Security Assignment (All
Moneys) (Own Obligations) (“the Security Assignment”) |
|
Date of Creating Mortgage: |
2013-11-26 |
|
Amount Secured: |
To secure the payment and satisfaction of all
present and future obligations and liabilities (whether actual or contingent
and whether owed jointly or severally or in any other capacity whatsoever) of
the Chargor to the Bank or to any other company of the Standard Chartered
group being Standard Chartered Bank (including its branches) (“SCB”), the
Holding Company (as defined below), Subsidiary (as defined below) or
associated company of SCB (each a "SCB Group Company”) anywhere
(“Secured Liabilities”). |
|
Name of Mortgagee: |
Standard Chartered Bank (Hong Kong) Limited
(”the Bank”) (as trustee for itself and each SCB Group Company (as defined
below) to which any moneys and/or obligations and/or liabilities secured by
the Security Assignment are owed from time to time) |
|
Address of Mortgagee: |
11th Floor, Standard Chartered Tower, 388
Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong |
|
Description of Property Mortgaged: |
By way of fixed charge all the Chargor’s right, title, interest and
benefit from time to time in and to any amount standing to the credit of the
Charged Account (as defined below) and the debt represented by it. By way of assignment, all the Chargor’s
right, title, interest and benefit from time to time in and to the Assigned
Assets (as defined below). |
|
2 |
|
|
Company Name: |
Caravel Carbons Limited (“the Chargor”) |
|
Instrument of Creating Mortgage: |
Security Agreement over Bank Account (All
Moneys) (Third Party)(“the Security Agreement) |
|
Date of Creating Mortgage: |
2013-11-26 |
|
Amount Secured: |
To secure the payment and satisfaction of
all present and future obligations and liabilities (whether actual or
contingent and whether owed jointly or severally or in any other capacity
whatsoever) of Caravel Metallurgical Limited and/or Caravel Resources Limited
and/or Caravel Resources Inc. and/or Caravel Ores & Alloys Limited and/or
Caravel Carbons Limited ("the Obligor") to the Bank or to any other
company of the Standard Chartered group being Standard Chartered Bank
(including its branches) (“SCB”), the Holding Company (as defined below),
Subsidiary (as defined below) or associated company of SCB (each a “SCB Group
Company") anywhere (“Secured Liabilities"). |
|
Name of Mortgagee: |
Standard Chartered Bank (Hong Kong) Limited (as trustee for itself and each SCB Group Company
(as defined below) to which any moneys and/or obligations and/or liabilities
secured by the Security Agreement are owed from time to time) |
|
Address of Mortgagee: |
11th Floor, Standard Chartered
Tower, 388 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong |
|
Description of Property Mortgaged: |
By way of a first fixed charge all the
Chargor’s right, in respect of any amount standing to the credit of the
Account (as defined below) from time to time and the debt represented by it. |
Lawsuits
Up to now, no present or latent litigation of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Position: |
Operator |
Industry
Information
68312-Nickel Alloys (KG)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Canada |
156 |
29 |
161,858 |
21,605 |
|
-- |
-- |
100,000 |
11,973 |
|
|
Japan |
-- |
-- |
76,468 |
10,110 |
|
USA |
1,053 |
365 |
32,904 |
7,111 |
|
Exports |
||||
|
The Mainland of China |
2,000 |
400 |
704,161 |
90,062 |
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have
been rounded to the nearest final digit after summing up the constituent trade
figures.
Attachment
We visited the supplied address as follows, and we confirmed the subject located at it with the relevant staff, but no company name on the wall.
Address: 21st Floor, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
21st Floor, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
21st Floor, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.68 |
|
|
1 |
Rs. 99.72 |
|
Euro |
1 |
Rs. 71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.