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MIRA INFORM REPORT
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Report No. : |
490124 |
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Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG EGOOD INDUSTRIAL (INTERNATIONAL) LIMITED |
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Registered Office : |
C/o Blazing Dragon Ltd. Room 1208, 12/F., Fook Cheong Building, 63 Hoi Yuen Road,
Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.04.2012 |
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Com. Reg. No.: |
59664621 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject’s lines of business are unknown since the secretarial
company declined to report us about its business. |
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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
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
No Operating Office in Hong Kong |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 reexports, 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 continues to
link its currency closely to the US dollar, maintaining an arrangement
established in 1983.
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 aided a more rapid initial recovery 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 9.4% of
total system deposits in Hong Kong by the end of 2015. 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. Mainland visitors to
Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an
overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also
established itself as the premier stock market for Chinese firms seeking to
list abroad. In 2015, mainland Chinese companies constituted about 51% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. 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, which took effect in 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. Credit
expansion and a tight housing supply have caused Hong Kong property prices to
rise rapidly; consumer prices increased 2.6% in 2016, but slowed to 2.0% in
2017. Lower- and middle-income segments of the population are increasingly
unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most
evident in the banking and finance sector. Initiatives like the Hong
Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong
Shanghai Gold Connect are all important steps towards opening up the Mainland’s
capital markets and has reinforced Hong Kong’s leading role as China’s offshore
RMB market. Additional connect schemes from bonds to commodities and other
investment products are also under exploration by Hong Kong authorities. In
2017, Chief Executive Lam announced plans to increase government spending on
research and development, education, and technological innovation with the aim
of spurring continued economic growth through greater sector diversification.
|
Source
: CIA |
Note
(Formerly Located At:
Room 21 8/F., Well Fung Industrial Centre,
68 Ta Chuen Ping Street, Kwai Chung,
New Territories, Hong Kong.)
Note: The correct name
of the industrial centre should be ‘Well Fung’.
Company
name
HONGKONG EGOOD
INDUSTRIAL (INTERNATIONAL) LIMITED
ADDRESS
Registered
Office:-
C/o Blazing Dragon Ltd.
Room 1208, 12/F., Fook Cheong Building, 63 Hoi Yuen Road,
Kwun Tong, Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
59664621
COMPANY
FILE NUMBER
1730951
DATE
OF INCORPORATION
17th April, 2012.
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As per registry dated 17-04-2017)
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Name |
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No. of shares |
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WU Jiexiong |
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10,000 ===== |
DIRECTOR
(As per registry dated 17-04-2017)
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Name (Nationality) |
Address |
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WU Jiexiong |
No. 23 On Dong Hu Cross-7th Lane, Lan Biao District, Qi Shi Town, Hui
Lai County, Guangdong Province, China. |
SECRETARY
(As per registry dated 17-04-2017)
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Name |
Address |
Co. No. |
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Blazing Dragon Ltd. |
Room 601, 6/F., Hewlett Centre, 52-54 Hoi Yuen Road, Kwun Tong,
Kowloon, Hong Kong. |
2052761 |
HISTORY
The subject was incorporated on 17th April, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at ‘Room 21 8/F.,
Well Fung Industrial Centre, 68 Ta Chuen Ping Street, Kwai Chung,
New Territories, Hong Kong’ where was the operating address of a
commercial service provider. The
subject’s registered office moved to the present address with effect from 1st
August, 2017 as it has changed its commercial service provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
GENERAL
HongKong Egood Industrial (International) Limited was incorporated on
17th April, 2012 as a private limited liability company.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at ‘Room 1208, 12/F., Fook Cheong Building, 63 Hoi
Yuen Road, Kwun Tong, Kowloon, Hong Kong’ known as ‘Blazing Dragon Ltd.’ [BDL]
which is handling its correspondences and documents. BDL 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. Wu
Jiexiong 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 Qi Shi Town, Hui Lai County, Guangdong Province, China.
The subject’s lines of business are unknown since the secretarial
company declined to report us about its business.
The director of the subject cannot be reached as he is not in Hong
Kong. His background and related company
in China are unknown to us.
No information of the subject can be obtained from our secondary
sources.
The subject’s business in Hong Kong is not active. History in Hong Kong is over five years and
nine months.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.37 |
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|
1 |
INR 89.71 |
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Euro |
1 |
INR 78.89 |
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HKD |
1 |
INR 8.22 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.