|
Report No. : |
340586 |
|
Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
LPR TRADING CO. LTD. |
|
|
|
|
Registered Office : |
C/o OCRA (Hong Kong) Ltd. Room 3905-3908, 39/F., Two Exchange Square, 8 Connaught Place, Central |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
20.03.2007 |
|
|
|
|
Com. Reg. No.: |
37739252 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
The business scope of the subject is textiles trading, engineering
projects, iron ore and pig iron trading. |
|
|
|
|
No. of Employees : |
No Employee 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
|
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 |
|
Status : |
No Operating Office in Hong Kong |
|
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 |
LPR TRADING CO. LTD.
Registered
Office:-
C/o OCRA (Hong Kong) Ltd.
Room 3905-3908, 39/F., Two Exchange Square, 8 Connaught Place, Central,
Hong Kong.
[Tel: 852-2522 0172; Fax:
852-2522 4720]
Associated
Companies:-
LPR Brasil Representacao Comercio e Servicos Ltda., Brazil.
Lourival Piaz Representacoes Ltda.
Rua Pedro Celestino de Araujo 33, Brazil.
[Tel: 55-47-3326 8277
Fax: 55-47-3037 1305
E-mail: pr.import@terra.com.br]
37739252
1116659
20th March, 2007.
HK$120.00
(As per registry dated 20-03-2015)
|
Name |
|
No. of shares |
|
Felipe BITTENCOURT |
|
60 |
|
Lourival PIAZ |
|
60 |
|
|
|
––– |
|
|
Total: |
120 === |
(As per registry dated 01-03-2015)
|
Name (Nationality) |
Address |
|
Lourival PIAZ |
Rua Lauro Mueller 527, Apt. 801, 89010-380 Blumenau,
Santa Catarina, Brazil. |
|
Felipe BITTENCOURT |
Rua Pedro Celestino de Araujo 77, apto 902, Jardim Blumenau, Blumenau
89010-385, Santa Catarina, Brazil. |
(As per registry dated 20-03-2015)
|
Name |
Address |
Co. No. |
|
First Secretaries Asia Ltd. |
Room 3908, 39/F., Two Exchange Square, 8 Connaught Place,
Central, Hong Kong. |
0316976 |
Date of Security Over Deposits with the Bank (Fixed Deposits) Limited
Company - Under Seal: 07-05-2013
Amount: (i) all monies
in any currency owing by the Depositor; (ii) interest on such monies; and
(iii) all expenses
Property: One or more than
deposit(s) of any nature of duration of the Company with the chargee in the
amount of HK$150,000 deposit Account Number: 808-312037-838, DEP 0001
Mortgagee: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
LPR Trading Co. Ltd. was incorporated on 20th March, 2007 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 Room 3905-3908, 39/F., Two Exchange Square, 8 Connaught
Place, Central, Hong Kong known as OCRA (Hong Kong) Ltd. which is handling
its correspondences and documents. The
associated company of OCRA (Hong Kong) Ltd., First Secretaries Asia Ltd., is
the corporate secretary of the subject.
This secretarial company is also located at the same address.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
120 ordinary shares of HK$1.00 each of which 50% are owned by Mr. Felipe Bittencourt,
and 50% are owned by Mr. Lourival Piaz.
Both of whom are Brazil passport holders and currently residing in Santa
Catarina, Brazil. The two shareholders
are also directors of the subject.
The subject is an international business entity and now in active
operations in 15 countries including China, the United States, Japan and
in emerging markets, notably in India, Thailand, Malaysia, Turkey, Indonesia,
and Vietnam. The business scope of the
subject is textiles trading, engineering projects, iron ore and pig iron
trading.
The subject is acting a broker between Brazilian iron ore suppliers and
potential Chinese stakeholders in the sector.
The subject is one of the members of the LPR Group which was founded in
1991.
The Group has forged strong partnerships in many countries in Asia,
meaning it has got suppliers in China, India, Indonesia, Turkey.
The Group chiefly
is engaged in the following business scope:
However, the Group is also engaged in the other businesses.
In 2010, the Group initiated research on recycling of waste originated
from the concentration of phosphate and whose composition made by SGS
demonstrated high levels of Magnetite, around 50% of Fe. The Group signed a four-year contract with
Vale with mandate to purchasing 1 million tonnes per year. The grade is around 50% and the Group has installed
machines to transform this material into Magnetite Fe 63% to 67% Pellet
Feed. The Group’s iron ore reaches high
concentration of magnetite going through three different processes: magnetic
separation, grinding and flotation.
The LPR Group has a total volume of 4 million tonnes to process, and it
is also interested in setting up contracts for future exportations.
The Group is trying to penetrate the China market further by exporting
it with high concentration iron ore.
The Group considers the exporting about 60,000 tpm for the next 5 years,
and it does have the intention to increase production volume to attract more
reliable buyers. Besides, pig iron is
also a product that the Group strongly interested in.
The subject has
had the following two associated companies in Brazil:
Mr. Lourival Piaz is also the representative of LPRL Brasil.
LPRL is a yarn (including chemical fibres such as polyester yarn)
trader. It is operated by the
shareholders of the subject.
LPR Brasil is offering clients with consultancy in foreign trading,
customs brokerage, international logistics and international sourcing.
LPR Brasil is in more than 15 countries, mainly in Asia, and has
developed strong relationships with the textile industry, being deeply present
on yarn representation of the largest groups of its business segments - like
yarn and viscose fibres, polyester spun, spandex, viscose, polyester yarns,
among others.
Since 2008, LPR BRASIL has been trying to broaden its expertise,
specializing not only among the textile industry, but also in different areas,
such as its brand “EMPILOG”, launched in 2010 as a major distributor of
Feeler forklifts in Brazil.
The subject has been banking with The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over eight years and
five months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, on the whole, 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.66.58 |
|
|
1 |
Rs.102.29 |
|
Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TPT |
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.