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Report No. : |
323263 |
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Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SILVER EAGLE INTERNATIONAL LTD. |
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Registered Office : |
10/F., Bel Trade Commercial Building, 1-3 Burrows Road, Wan Chai |
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Country : |
Hong Kong
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Date of Incorporation : |
16.02.1993 |
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Com. Reg. No.: |
16914782 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of All Kinds of Yarns. |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – 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 |
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 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 |
SILVER EAGLE
INTERNATIONAL LTD.
ADDRESS: 10/F., Bel Trade Commercial Building,
1-3 Burrows Road, Wan Chai, Hong Kong.
PHONE: 852-2572 0132, 2870 2327
FAX: 52-2870 3130
E-MAIL: silvereagleintl@hotmail.com
MANAGEMENT:
Managing Director: Mr. Kwei
Yiang, James
Incorporated on: 16th February, 1993.
Organization: Private Limited Company.
Issued Share Capital: HK$2.00
Business Category: Yarn
Trader.
Employees: 8.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
SILVER EAGLE
INTERNATIONAL LTD.
Registered Head
Office:-
10/F., Bel Trade Commercial Building, 1-3 Burrows Road, Wan Chai, Hong
Kong.
16914782
0402870
Managing Director: Mr. Kwei Yiang,
James
(Hong Kong Mobile Phone No.:
852-9839 3547)
HK$2.00
(As per registry dated 16-02-2015)
|
Name |
|
No. of shares |
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KWEI Yiang |
|
1 |
|
CHAU Wang |
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1 |
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– |
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Total: |
2 = |
(As per registry dated 16-02-2015)
|
Name (Nationality) |
Address |
|
CHAU Wang |
10/F., 1-3 Burrows Street, Wanchai, Hong Kong. |
|
KWEI Yiang |
10/F., 1-3 Burrows Street, Wanchai, Hong Kong. |
KWEI Yiang (As per registry dated
16-02-2015)
The subject was incorporated on 16th February, 1993 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: ALL
Kinds of Yarns.
Employees: 8.
Commodities Imported: China,
Australia, other Asian countries.
Markets: Asian
countries, North America, Western Europe.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P.
|
Date |
GN No. |
Particulars |
Amount |
|
29-06-2001 |
GN3967 |
Supply of calico white cotton and dyed sheeting cotton |
HK$1,116,720.00 F.I.S./Hong Kong with ±20% variation (not exceeding HK$1,340,064.00) |
Issued Share Capital: HK$2.00
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
manner.
Facilities: Making rather 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: Normal.
Having issued just two ordinary shares of HK$1.00 each, Silver Eagle
International Ltd. is equally owned by Mr. Kwei Yiang and Mr. Chau Wang. Both are Hong Kong ID holders. They are also directors of the subject.
The subject is a yarn trader. It
is trading in fancy yarns and woollen yarns.
Products are chiefly imported from China and Australia.
Prime markets are Asian countries, North America, Western Europe,
etc. Overall business is satisfactory.
The subject has been awarded contracts by the Hong Kong SAR Government
in supplying of calico white cotton and dyed sheeting cotton. For instance, in early 2001, the subject got
a contract in supplying the above-mentioned products involving in HK$1.1
million, F.I.S./Hong Kong.
The director of the subject Mr. Kwei Yiang is a significant character in
Yunnan Province of China.
The business of the subject is chiefly handled by the two
shareholders. History in Hong Kong is
over 22 years and three months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.69 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.