|
Report No. : |
339954 |
|
Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
YUE PAK COMPANY LIMITED |
|
|
|
|
Formerly Known As : |
LUCKY PLAN ENTERPRISES LIMITED |
|
|
|
|
Registered Office : |
16F, Nathan Centre 580G Nathan Road, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
23.12.1981 |
|
|
|
|
Com. Reg. No.: |
107009 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trading of metals and chemicals |
|
|
|
|
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 |
|
|
|
|
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 |
A1 |
A1 |
|
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 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 |
|
Company Name (in English): |
Yue Pak Company Limited |
|
Supplied Name: |
Yue Pak Co Ltd |
|
Trading Address: |
Rm 1601-03, Nathan Centre 580G Nathan Road,
Kowloon, Hong Kong |
|
Supplied Address: |
Rm 1601-03, Nathan Centre 580G Nathan Road,
Kowloon, Hongkong |
Note:
The exact name and address are as above.
We have arranged
the site visit for the supplied address, but the result has not been come back.
We will update the report when receive the photos as soon as possible.
We confirm the
subject is located at the supplied address with the relevant staff.
|
Registered Name: |
|
|
Registered
Address: |
|
|
Telephone Number: |
+852-2780-1257 |
|
Fax Number: |
+852-2780-7399 |
|
E-mail: |
|
|
Date of
Registration: |
1981-12-23 |
|
Registered
Number: |
107009 |
|
Business
Registration No.: |
7602849 |
|
Paid-up Capital: |
HKD 500,000 (USD
64,500) = 50,000 Shares@ HKD 10 (As of 2015.09, 1
HKD = 0.129 USD) |
|
Legal Form: |
Private Limited
Company |
|
SITC Code: |
59899--Other
Chemical Products And Preparations |
|
Principal
Activities: |
Trading of metals
and chemicals. |
|
Staff: |
N/A |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2014-12-23 |
Notes: Subject declined to disclose the number of staff,
and from other source we cannot obtain the information, either.
Subject was
incorporated on 1981-12-23 with the registered number 107009 as Private Limited
Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
1982-7-16 |
Yue Pak Company
Limited |
|
1981-12-23 |
Lucky Plan
Enterprises Limited |
Subject did not register any subsidiaries or branches;
from other source we could not obtain the relevant information, either.
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Yue Pak Groups
Limited |
49,999 |
99.998% |
|
Yu Keung |
1 |
0.002% |
|
Total |
50,000 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Yue Pak Groups
Limited |
|
Former Name: |
Yue Pak Trading
Company Limited |
|
Address: |
16th
Floor, Nathan Centre, 580 Nathan Rd., Kowloon, Hong Kong |
|
Date of
Registration: |
1986-6-18 |
|
Registered Number: |
170664 |
|
Business
Registration No.: |
10402993 |
|
Legal Form: |
Private Limited
Company |
|
2 |
|
|
Name: |
Yu Keung |
|
Address: |
Flat C, 12F,
Tower 18, Laguna Grande, Laguna Verde, 8 Laguna Verde Avenue, Kowloon, Hong
Kong |
Core
Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Yu Keung |
|
Address: |
Flat C, 12F,
Tower 18, Laguna Grande, Laguna Verde, 8 Laguna Verde Avenue, Kowloon, Hong
Kong |
|
Position: |
Director |
|
ID Number: |
B897330(5) |
|
2 |
|
|
Name: |
Law Yuk Ling |
|
Address: |
Flat 19B, Block
5, King’s Park Villa 1 King’s Park Rise, Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
E518207(0) |
|
3 |
|
|
Name: |
Chiu Soo Mai,
Sournan |
|
Address: |
16th Floor,
Nathan Centre, 580 Nathan Rd., Kowloon, Hong Kong |
|
Position: |
Secretary |
|
Number: |
G518152(5) |
Offices
& Factories
|
|
Office |
|
Address: |
Rm 1601-03, Nathan Centre 580G Nathan Road,
Kowloon, Hong Kong |
Production
Information
·
Subject
is engaged in trading of metals and chemicals.
Purchase
Information
·
It is
introduced that subject’s products are mainly purchased from the Mainland of
China.
Sales
Information
·
Subject
is engaged in sale of metals and chemicals.
·
It is
introduced that subject’s major sales regions cover Europe, North and South
America, Asia, Australia and Africa.
·
Subject’s
major customers are manufacturers of metal products and chemical products.
The detail
information of subject’s products is as follows:
|
Category |
Products |
|
Metal |
Antimony Metal,
Antimony Sulphide Lumps/Powder, Antimony Trioxide, Arsenic Metal, Bismuth
Metal, Cadmium, Ferro Alloys, Germanium Metal, Indium Ingot, Lead Ingot, Magnesium
Metal, Silicon Metal, Tungsten, Vanadium Pentoxide, Zinc Ingot. |
|
Chemical |
Ammonium
Chloride, Antimony Trioxide, Barium Carbonate, Barium Chloride, Barium
Hydroxide, Barium Nitrate, Beta Naphthol, Bon Acid, Lithopone, Manganese Carbonate,
Manganese Chloride, Manganese Sulphate, Phosphoric Acid, Polyvinyl Alcohol,
Potassium Permanganate, Zinc Carbonate, Zinc Oxide. |
Purchase
Domestic Purchase
|
Products |
Metals and
chemicals |
|
Payment Terms |
T/T, Cash |
Import
Subject has little
import.
Sales
Domestic Markets
|
Product |
Metals and
chemicals |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Metals and
chemicals |
|
Selling Terms |
L/C, T/T |
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.
Subject declined to disclose its bank
details; from other source we could not obtain the relevant information,
either.
Mortgage
Record
|
1 |
|
|
Company Name: |
Yue Pak Company Limited
(“the Chargor”) |
|
Instrument of
Creating Mortgage: |
Rental Assignment |
|
Date of Creating
Mortgage: |
2011-8-2 |
|
Amount Secured: |
All Monies |
|
Name of
Mortgagee: |
CITIBANK, N.A.
(“the Lender”) |
|
Address of
Mortgagee: |
50th Floor,
Citibank Tower, Citibank Plaza, 3 Garden Rd., Central, Hong Kong |
|
Description of
Property Mortgaged: |
The Chargor as
beneficial owner hereby assigns to the Lender absolute all the Chargor’s
right, title, interest and benefit in and to the Rentals. ALL THOSE 14 equal
undivided 3,038th parts or shares of and in ALL THOSE pieces or parcels of
ground registered in the Land Registry as KOWLOON INLAND LOT N0.7047，KOWLOON INLAND LOT N0.7048, KOWLOON [NLAND LOT N0.7049 and KOWLOON
INLAND LOT NO.7050 And of and in the messages erections and buildings thereon
now known as “NATHAN CENTRE “ (“the Building”)TOGETHER with the sole and
exclusive right and privilege to hold use occupy and enjoy ALL THOSE OFFICE
UNITS NOS, 1205 and 1206 on the TWELFTH FLOOR of the Building (“the
Property”) |
|
2 |
|
|
Company Name: |
Yue Pak Company
Limited (“the Chargor”) |
|
Instrument of
Creating Mortgage: |
Legal
Charge/Mortgage |
|
Date of Creating
Mortgage: |
2011-8-2 |
|
Amount Secured: |
All Monies |
|
Name of
Mortgagee: |
CITIBANK, N.A.
(“the Lender”) |
|
Address of
Mortgagee: |
50th
Floor, Citibank Tower, Citibank Plaza, 3 Garden Rd., Central, Hong Kong |
|
Description of
Property Mortgaged: |
ALL THOSE 14 equal
undivided 3,038th parts or shares of and in ALL THOSE pieces or parcels of
ground registered in the Land Registry as KOWLOON INLAND LOT NO.7047，KOWLOON INLAND LOT N0.7048, KOWLOON INLAND LOT N0.7049 and KOWLOON
INLAND LOT N0.7050 And of and in the messuages erections and buildings
thereon now known as “NATHAN CENTRE” (“the Building”) TOGETHER with the sole
and exclusive right and privilege to hold use occupy and enjoy ALL THOSE
OFFICE UNITS NOS. 1205 and 1206 on the TWELFTH FLOOR of the Building. |
|
3 |
|
|
Company Name: |
Yue Pak Company
Limited (the “Company”) |
|
Instrument of
Creating Mortgage: |
Deposit Deed |
|
Date of Creating
Mortgage: |
2009-10-30 |
|
Amount Secured: |
All moneys now or
at any time in the future owing by the Company (the "Principal(s)”)
(whether alone or jointly with any other person(s)) to Citibank, N.A. or any
Affiliate) under any banking, derivative, foreign exchange, trade, margin,
guarantee or other facility or facilities or any account and all other
liabilities (whether actual or contingent, present or future, as principal or
surety or in some other capacity) (collectively, the “Facilities”),
including, any and all the obligations of the Company and the Principal(s)
under any Facilities pre-existing prior to the date of execution of this Deed
(the "Obligations"). |
|
Name of
Mortgagee: |
Citibank, N.A. |
|
Address of
Mortgagee: |
21/F, Tower 1
& 2f The Gateway, Harbour City, Tsimshatsui Kowloon, Hong Kong |
|
Description of
Property Mortgaged: |
By way of a first
fixed charge and as a continuing security for the Obligations, the Company
charges and assigns absolutely all its rights, title to and interest in the
Accounts and all Deposits from time to time in the Accounts and/or comprising
the Accounts maintained with Citibank, N.A., Hong Kong Branch and/or Citibank
(Hong Kong) Limited. |
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 |
Interview Details
|
Name |
Ms. Zhao |
|
Department: |
Sales Department |
59899--Other
Chemical Products and Preparations
Unit: HKD/000
|
|
2015.06 |
2015.01~2015.06 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
-- |
2,041 |
-- |
8,589 |
|
|
Belgium |
-- |
1,057 |
-- |
7,642 |
|
Britain |
-- |
2,850 |
-- |
14,425 |
|
USA |
-- |
22,603 |
-- |
157,690 |
|
Korea |
-- |
36,917 |
-- |
212,331 |
|
Japan |
-- |
90,474 |
-- |
528,718 |
|
Taiwan |
-- |
43,055 |
-- |
320,696 |
|
The Mainland of
China |
-- |
53,626 |
-- |
340,259 |
|
Exports |
||||
|
Singapore |
-- |
66 |
-- |
359 |
|
Malaysia |
-- |
100 |
-- |
106 |
|
Korea |
-- |
345 |
-- |
1,341 |
|
India |
-- |
66 |
-- |
112 |
|
Vietnam |
-- |
5 |
-- |
57 |
|
Macau |
-- |
29 |
-- |
127 |
|
Taiwan |
-- |
385 |
-- |
1,939 |
|
The Mainland of
China |
-- |
8,406 |
-- |
40,707 |
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 |
|
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 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures have been rounded to the nearest
final digit after summing up the constituent trade figures.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
UK Pound |
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TRU |
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.