MIRA INFORM REPORT
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Report No. : |
322590 |
|
Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
YL ENTERPRISES |
|
|
|
|
Registered Office : |
Flat 905, 9F, Hilder Centre, 2 Sung Ping St., Hung Hom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
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|
|
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Date of Incorporation : |
22-09.2012 |
|
|
|
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Com. Reg. No.: |
36508757 - 005 |
|
|
|
|
Legal Form : |
Branch of Decent Colorstone Co. Limited in Hong Kong |
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|
|
|
Line of Business : |
Trading of stones |
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|
|
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No of Employees : |
Not Available |
RATING & COMMENTS
|
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 : |
Branch of Foreign Registered Company |
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|
|
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Payment Behaviour : |
Unknown |
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|
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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
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Company Name: |
YL Enterprises |
|
Supplied Name: |
Y L Enterprises |
|
Trading Address: |
Flat 905, 9F, Hilder Centre, 2 Sung Ping St., Hung Hom, Kowloon, Hong
Kong |
|
Supplied Address: |
Unit 905, 9/F, Hilder Center No 2 Sung Ping Street Hung Hom Kln |
Note: The exact name and address are as above.
Credit
Summary
|
Credit Opinion: |
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Flat 905, 9F, Hilder Centre, 2 Sung Ping
St., Hung Hom, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2739-7136 |
|
Fax Number: |
+852-2739-7138 |
|
Date of Registration: |
2012-9-22 |
|
Business Registration No.: |
36508757 - 005 |
|
Registered Capital: |
N/A |
|
Legal Form: |
Branch of Decent Colorstone Co. Limited in
Hong Kong |
|
SITC Code: |
66339--Articles of stone or other mineral
substances, n.e.s. (-) |
|
Principal Activities: |
Trading of stones, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Notes: It is not required
for submitting the registered capital for the branch company in Hong Kong.
Subject declined to disclose the number of staff, and from other source we
cannot obtain the information, either. The supplied telephone number is a
vacant number.
History
Subject was incorporated on 2012-9-22 with the business registered number 36508757 - 005 as Branch of Decent Colorstone Co. Limited in Hong Kong.
Corporate
Structure
Head Office
|
Registered Name: |
Decent Colorstone Co. Limited |
|
Registered Address: |
Flat 905, 9F, Hilder Centre, 2 Sung Ping St., Hung Hom, Kowloon, Hong
Kong |
|
Telephone Number: |
+852-2739-7136 |
|
Fax Number: |
+852-2739-7138 |
|
Director: |
Batwara Anil |
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Date of Registration: |
2006-2-11 |
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Registered Number: |
1023883 |
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Business Registration No.: |
36508757 |
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Paid-up Capital: |
HKD 3,000,000 (USD 387,000) = 3,000,000 Shares@ HKD 1 (As of 2015.05, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
Principal Activities: |
Trading of gems and jewelry, etc. |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-2-11 |
Shareholders
|
Decent Colorstone Co. Limited |
|
|
Place of Origin |
Hong Kong |
|
% of investment |
100% |
Management
Information
We cannot obtain the management information of the subject from official source, and the subject declined to disclose the information, either.
Operation Information
Offices
& Factories
|
|
Office |
|
Address: |
Flat 905, 9F, Hilder Centre, 2 Sung Ping
St., Hung Hom, Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Workshop Unit No.5 On 9th Floor Hilder
Centre No.2 Sung Ping Street Kowloon |
|
Owners: |
Decent Colorstone Co. Limited |
|
Memorial Number: |
12090702530088 Assignment |
|
Date of Instrument: |
2012-8-31 |
|
Date of Registration: |
2012-9-7 |
|
Consideration Value: |
HKD 9,528,400.00 |
History
of Premises Owners’
|
1 |
|
|
Memorial No.: |
12090702530099 |
|
Date of Instrument: |
2012-8-31 |
|
Date of Registration: |
2012-9-7 |
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Nature: |
Mortgage |
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In Favor of: |
DBS Bank (Hong Kong) Limited |
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Consideration: |
All Moneys |
|
2 |
|
|
Memorial No.: |
12042302450229 |
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Date of Instrument: |
2012-4-18 |
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Date of Registration: |
2012-4-23 |
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Nature: |
Agreement For Sale And Purchase |
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In Favor of: |
Decent Colorstone Co. Limited |
|
Consideration: |
HKD 9,528,400.00 |
|
3 |
|
|
Memorial No.: |
07090301210027 |
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Date of Instrument: |
2007-8-9 |
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Date of Registration: |
2007-9-3 |
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Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Kiran Exports (Hong Kong) Limited |
|
Consideration: |
HKD 6,000,000.00 |
Production
Information
l Subject is engaged in trading of stones, etc. without any production
activities.
Purchase
Information
l The products sold by the subject are mainly purchased in the mainland of
China and Europe, etc.
Sales
Information
l The subject is engaged in sale of stones, etc.
l Subject’s major products are cubic stones, etc.
l It is introduced that the major sales regions include domestic market,
Japan, India, Southeast Asia, etc.
Settlements
Purchase
1.
Domestic Purchase (The Mainland of China)
|
Products |
Stones, etc. |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Stones, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Sales
1.
Domestic Markets
|
Product |
Stones, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Stones, 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
No mortgage record of the subject was found.
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
|
Name |
Mr. Ellen |
Industry
Information
66339--Articles of stone or other mineral substances, n.e.s. (-)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Austria |
-- |
23 |
-- |
23 |
|
France |
-- |
74 |
-- |
499 |
|
Japan |
-- |
291 |
-- |
334 |
|
Singapore |
-- |
-- |
-- |
8,292 |
|
Taiwan |
-- |
54 |
-- |
129 |
|
USA |
-- |
33 |
-- |
270 |
|
The Mainland of China |
-- |
12,622 |
-- |
103,538 |
|
Exports |
||||
|
Australia |
-- |
-- |
-- |
78 |
|
France |
-- |
-- |
-- |
41 |
|
Germany
|
-- |
268 |
-- |
1,891 |
|
UK |
-- |
-- |
-- |
485 |
|
The Mainland of China |
-- |
176 |
-- |
4,784 |
External Trade Information:
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 following address, and confirm the subject is located at it with the relevant staff. But there is no subject’s company name on the wall. Subject’s parent company name is on the wall.
Address: Flat 905,
9F, Hilder Centre, 2 Sung Ping St., Hung Hom, Kowloon, Hong Kong
Hilder Centre, 2
Sung Ping St., Hung Hom, Kowloon, Hong Kong
Flat 905, 9F,
Hilder Centre, 2 Sung Ping St., Hung Hom, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.86 |
|
|
1 |
Rs. 98.88 |
|
Euro |
1 |
Rs. 70.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
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.