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MIRA INFORM REPORT
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Report No. : |
490642 |
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Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PHENIX INDUSTRIAL LIMITED |
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Registered Office : |
C/o Excel Secretaries Ltd., 18/F., On Hong Commercial
Building, 145 Hennessy Road, Wanchai |
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Country : |
Hongkong |
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Date of Incorporation : |
03.11.2006 |
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Com. Reg. No.: |
37313935 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter & Wholesaler of Printing Machinery &
Equipment. |
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No. of Employees : |
1 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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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Hongkong |
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 |
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 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.
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Source
: CIA |
Company
name and address
PHENIX INDUSTRIAL
LIMITED
ADDRESS: C/o
Excel Secretaries Ltd.
18/F., On
Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong.
PHONE: 852-3104
0205
FAX: 852-8145
9391
E-MAIL: peter@phenixltd.hk
MANAGEMENT
Managing Director:
Mr. Li Yong
SUMMARY
Incorporated on: 3rd November, 2006.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employee: 1.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Office:-
C/o Excel Secretaries Ltd.
18/F., On Hong Commercial Building, 145 Hennessy Road,
Wanchai, Hong Kong.
Factory:-
Dongguan Phenix Industrial Ltd.
367, Jiaoyu Road, Dalingshan, Dongguan City, Guangdong
Province 523820 China.
[Tel.: +86-769
82186975]
BUSINESS
REGISTRATION NUMBER
37313935
COMPANY
FILE NUMBER
1084675
MANAGEMENT
Managing Director:
Mr. Li Yong
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 03-11-2017)
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Name |
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No. of shares |
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LI Yong |
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5,000 |
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LIU Bin |
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5,000 |
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––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 03-11-2017)
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Name (Nationality) |
Address |
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LIU Bin |
Hexi Industrial Park, Changping Town, Dongguan,
Guangdong, China. |
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LI Yong |
Hexi Industrial Park, Changping Town, Dongguan,
Guangdong, China. |
SECRETARY
(As per registry dated 03-11-2017)
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Name |
Address |
Co. No. |
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Excel Secretaries Ltd. |
18/F., On Hong Commercial Building, 145 Hennessy
Road, Wanchai, Hong Kong. |
0541950 |
HISTORY
The subject was incorporated on 3rd November, 2006 as a private
limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment
has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter & Wholesaler.
Lines: Printing
machinery & equipment.
Employee: 1.
Commodities Imported: China,
etc.
Markets: Japan,
other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL
INFORMATION
Issued Share Capital: HK$10,000.00
Mortgage or Charge:-
Date: 03-05-2016
Description of
Instrument: Charge Over Accounts and Deposits
Mortgagee:
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Made
very small profits in Hong Kong.
Condition: Business
is fairly active in Hong Kong.
Facilities: Adequate
for current running.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Phenix Industrial
Limited was incorporated on 3rd November, 2006 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 ‘18/F., On Hong
Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong’ known as ‘Excel
Secretaries Ltd.’ [Excel] which is handling its correspondences and
documents. Excel is also the corporate
secretary of the subject.
The subject has its operating
office located at a different address where is the residence of its
representative.
We can reach nobody
at your given Hong Kong mobile phone number 852- 6958 4445 as nobody answer our
phone calls.
According to the
Companies Registry of Hong Kong, the subject has issued 10,000 ordinary shares
of HK$1.00 each which are equally-owned by Mr. Li Yong and Mr. Liu Bin, both of
whom are China merchants.
They are China ID
holders and do not have the right to reside in Hong Kong permanently. They are also directors of the subject. Their registered addresses are in Changping
Town, Dongguan City, Guangdong Province, China.
The main office of
the subject is in Dongguan City, Guangdong Province, China. It is trading is printing machinery and
rotogravure equipment, accessories, etc. The main associated company of the
subject is known as Dongguan Phenix Industrial Ltd. [Dongguan Phenix].
Its brief information
are as follow:
Name: Dongguan Phenix
Year of
Incorporation: 2003
Legal
Representative: Mr. Li Yong
Products
Carried: Printing machinery &
equipment, accessories, instruments and metres.
Factory Area: 100 sq.m.
Markets: Japan, Southeast Asia, India, Singapore,
Malaysia, Australia, Eastern Europe, Middle East, etc.
Annual Sales
Turnover: RMB4 – 6 million Yuan.
Dongguan Phenix is also engaged in manufacturing doctor
blade from carbon steel in different lamella, thickness and width.
The followings are its main products:-
Electro engraver, Auto plating line, Copper grinding machine, Copper/Chrome polishing machine, Proofing machine, Rotogravure printing press, Lamination machine, etc.
The subject also trades in the following equipment
imported from foreign countries:-
1. Electroplating equipment;
2. Electroplating tanks;
3. Automatic electroplating line;
4. Grinding equipment;
5. Polishing equipment;
6. Engraving machines;
7. Proofers;
8. Packaging & printing equipment, etc.
Products are imported from Germany and Switzerland,
etc. Imported commodities are chiefly
marketed in China.
The contact person of Dongguan Phenix is also Li Yong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over eleven years and
three months.
On the whole, consider it good for business engagements
in small credit amounts.
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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NIS |
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Report Prepared
by : |
NIT |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.