MIRA INFORM REPORT

Report No. :	342824
Report Date :	08.10.2015

IDENTIFICATION DETAILS

Name :	HONG KONG KNIGHT (INTERNATIONAL) GROUP LIMITED

Registered Office :	Unit C, 15F, Hua Chiao Comm. Centre, 678 Nathan Rd., Kowloon

Country :	Hong Kong

Date of Incorporation :	22.12.2005

Com. Reg. No.:	1015310

Legal Form :	Private Limited Liability Company

Line of Business :	Not Available [Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources]

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Offshore company

Payment Behaviour :	Unknown

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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

HONG KONG ECONOMIC OVERVIEW

Hong Kong has a free market economy, highly dependent on internationalTRADE 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

Contact Points

Company Name (in English):	Hong Kong Knight (International) Group Limited
Supplied Name:	HONGKONG KNIGHT (INTERNATIONAL) GROUP LTD
Supplied Address:	FLAT/RM B 13/F KIU FU COMMERCIAL BUILDING 300-306 LOCKHART ROAD WAN CHAI HONG KONG

Note: The exact name is as above.

Special Note

We cannot find subject’s any operation information or valid contact information in Hong Kong through public files according to supplied name.

We tried to contact the subject through the supplied telephone number +86-20-8653-0706, and Ms. Luo answered the phone said her company name is Guangzhou Knight Shoes Co., Ltd. (Literal Translation), she introduced that the subject is the related company with her company and the subject is only registered in Hong Kong without any office. She introduced that her company is engaged in trading of shoes, but declined to disclose any other information of the subject.

We visited the supplied address, but did not find the subject on it. There is another company named Hero Swing Co., Ltd. located on it, and the relevant staff said they did not know the subject.

As the registered address, is that of subject’s corporate secretary (Hong Kong Enterprise Register Center (International) Limited), we cannot obtain any information of the subject according to it.

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.

Company Identification Details

Registered Name:	Hong Kong Knight (International) Group Limited
Registered Address:	Unit C, 15F, Hua Chiao Comm. Centre, 678 Nathan Rd., Kowloon, Hong Kong
Date of Registration:	2005-12-22
Registered Number:	1015310
Business Registration No.:	36320426
Paid-up Capital:	HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1 (As of 2015.10, 1 HKD = 0.129 USD)
Legal Form:	Private Limited Liability Company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2014-12-22

History

Subject was incorporated on 2005-12-22 with the registered number 1015310 as Private Limited Liability Company in Hong Kong.

Corporate Structure

Related Company

Name:	Guangzhou Knight Shoes Co., Ltd. (Literal Translation)
Registered Address:	Rm. A109, No. 68, Hengfeng St., Xicha Rd., Baiyun Dist., Guangzhou City, Guangdong Province, China
Date of Foundation:	2012-4-6
Registered Number:	440111000378061
Registered Capital:	CNY 100,000
Principal Activities:	Trading of shoes; It is introduced that the company products include leather shoes for men. The sales regions of the company are domestic market, Southeast Asia, Europe, America, Australia, etc.

Shareholder

Name	Subscription Shares	Proportion of Investment (%)
Lu Zhi Hua	10,000	100%
Total	10,000	100%

Major Shareholder Information:

Name:	Lu Zhi Hua
Address:	No. 361, Hongwei Village, Chenxi Colliery, Chenxi County, Hunan Province, China

Management Information

Core Management

Detailed Information of Directors:

1
Name:	Lu Zhi Hua
Address:	No. 361, Hongwei Village, Chenxi Colliery, Chenxi County, Hunan Province, China
Position:	Director
ID Number:	43302319721225001X
2
Name:	Hong Kong Enterprise Register Center (International) Limited
Address:	Unit C, 15F, Hua Chiao Comm. Centre, 678 Nathan Rd., Kowloon, Hong Kong
Position:	Company Secretary
Registered Number:	1250231

Operation Information

Subject does not have business entity in Hong Kong.

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 does not have business entity in Hong Kong, thus we cannot obtain the relevant information.

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

Attachment

Address: Rm. B, 13F, Kiu Fu Commercial Building 300-306 Lockhart Rd., Wanchai, Hong Kong

Kiu Fu Commercial Building 300-306 Lockhart Rd., Wanchai, Hong Kong

13F, Kiu Fu Commercial Building 300-306 Lockhart Rd., Wanchai, Hong Kong

Rm. B, 13F, Kiu Fu Commercial Building 300-306 Lockhart Rd., Wanchai, Hong Kong

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.26
UK Pound	1	Rs.99.53
Euro	1	Rs.73.47

INFORMATION DETAILS

Analysis Done by :	KAS

Report Prepared by :	ANK

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%)

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