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Report No. : |
346358 |
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Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
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Name : |
TIANCI WEIYE CO. LTD. |
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Registered Office : |
C/o Sunway Top Consultancy
Ltd., Flat 01B, 10/F., Carnival Commercial Building, 18 Java Road,
North Point |
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Country : |
Hongkong |
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Date of Incorporation : |
06.11.2009 |
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Com. Reg. No.: |
51385027 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is iron and
steel traders. The subject is
trading in the following products:- · Billets – Blooms · Reinforcing Bars · Tubes-Pipe Seamless · Angles · Ropes-Strand Wire · Tubes-Pipes Cast (Ductile) · Beams-Channels-Joists-Columns · Sections (Cold Formed: U, Z, C...) · Tubes-Pipes Welded · Bright Shafting Bars (Cold Formed) · Sheet Piles-Trench Sheets · Wire · Bulb Flats · Spring Flat Bars · Wire Coated · Merchant Bars (rounds, flats, squares, tees, hexagons) · Special HR Sections · Wire Rod. |
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No. of Employees : |
No Employees in Hong Kong. NOTE: It is to
be noted that the company does not have its own operating office in Hong Kong.
The company uses the address of its secretariat as its correspondence address
only. Subject operates from some other country and does not have a base in
Hong Kong. Such companies are registered in Hong Kong just to tax benefit
purpose and due to the strict privacy laws prevailing in the country. In such
cases, the companies are not required to have any employees in Hong Kong nor
do have an office there. |
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 : |
No Operating Office in Hongkong
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
HONGKONG - 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 12.5% 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 |
TIANCI
WEIYE CO. LTD.
Registered Office:-
c/o Sunway Top Consultancy Ltd.
Flat 01B, 10/F., Carnival Commercial Building, 18 Java
Road, North Point, Hong Kong.
Main Associated
Company:-
Tangshan Yuxuan Trading Co. Ltd.
Yannan Iron & Steel Market, Yanshan Road, Fengrun
District, 063030 Tangshan City, Hebei Province, China.
[Tel: 86-315-5019001
Fax:
86-315-3129868, 5019003]
Other Associated Companies:-
Hebei Yuxuan International Trading Co. Ltd., China.
Tangshan Fengrun District Zhonghe Trading Co. Ltd.,
China.
Tangshan Yuxuan Steel Trading Co. Ltd., China.
51385027
1388778
6th November, 2009.
HK$10,000.00
(As per registry dated 06-11-2014)
|
Name |
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No. of shares |
|
HAN Zhiping |
|
10,000 ===== |
(As per registry dated 06-11-2014)
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Name (Nationality) |
Address |
|
HAN Zhiping |
No. 102 East of Yinchengpu, Fengrun District, Tangshan
City, Hebei Province, China. |
(As per registry dated 06-11-2014)
|
Name |
Address |
Co. No. |
|
Sunway Top Consultancy Ltd. |
Flat 01B, 10/F., Carnival Commercial Building, 18 Java
Road, North Point, Hong Kong. |
1370258 |
Tianci Weiye Co. Ltd.
was incorporated on 6th November, 2009 as a private limited liability company
under the Hong Kong Companies Ordinance.
The subject does not
have its own operating office. Its
registered office is in a commercial service firm located at “Flat 01B, 10/F.,
Carnival Commercial Building, 18 Java Road, North Point, Hong Kong” known as
“Sunway Top Consultancy Ltd.” which is handling its correspondences and
documents. The consultancy company is
also the corporate secretary of the subject.
The subject has no
employees in Hong Kong.
According to the
Companies Registry of Hong Kong, the subject has issued 10,000 ordinary shares of
HK$1.00 each which are wholly-owned by Mr. Han Zhiping who is a China
merchant. He is a China ID holder and
does not have the right to reside in Hong Kong permanently. He is also the only director of the
subject. His registered address is in
Tangshan City, Hebei Province, China.
The subject has had
two main associated companies known as Tangshan Yuxuan Trading Co. Ltd. [TYTCL]
and Tangshan Yuxuan Steel Trading Co. Ltd. [Yuxuan], China. The legal representative of TYTCL is also Han
Zhiping.
TYTCL and Yuxuan are
iron and steel traders, so does the subject. The subject is trading in the
following products:-
· Billets – Blooms;
· Reinforcing Bars;
· Tubes-Pipe Seamless;
· Angles;
· Ropes-Strand Wire;
· Tubes-Pipes Cast (Ductile);
· Beams-Channels-Joists-Columns;
· Sections (Cold Formed: U, Z, C...);
· Tubes-Pipes Welded;
· Bright Shafting Bars (Cold Formed);
· Sheet Piles-Trench Sheets;
· Wire;
· Bulb Flats;
· Spring Flat Bars;
· Wire Coated;
· Merchant Bars (rounds, flats, squares, tees, hexagons);
· Special HR Sections; &
· Wire Rod.
TYTCL was set up in
2001 in China while Yuxuan was set up in 2002 with a registered capital of
RMB20 million Yuan.
Your given phone
number 86-315-5019 001 belongs to TYTCL which is an associated company of
Yuxuan. The contact person is Ms. Lina Wang
who can be reached at her China mobile phone number 86-1890 3259 996. The annual sales turnover of TYTCL ranges
from RMB50 to 100 million.
The annual sales
turnover of Yuxuan Steel ranges from RMB 2.0 to 2.5 billion Yuan. It sells iron and steel over 400,000 tonnes
annually. At present, it has about 500
employees. It also has got ISO 9001:2000
certification.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is about six years.
Since the subject
does not have its own operating office and has no employees in Hong Kong,
consider it good for business engagements on L/C basis.
NOTE:
It is to be
noted that the company does not have its own operating office in Hong Kong. The
company uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong Kong.
Such companies are registered in Hong Kong just to tax benefit purpose and due
to the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.04 |
|
|
1 |
Rs.99.58 |
|
Euro |
1 |
Rs.71.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
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|
Report Prepared
by : |
NIT |
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 |
-- |
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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.