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MIRA INFORM REPORT
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Report No. : |
484148 |
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Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
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Name : |
MAKING TRADE CO., LIMITED |
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Registered Office : |
Room C, 19/F., Lockhart Centre, 301-307
Lockhart Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.04.2013 |
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Com. Reg. No.: |
61208726 |
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Legal Form : |
Private limited liability |
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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, effective 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 4.4% in 2014, but slowed to 2.9% in 2015. 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.
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Source
: CIA |
Company
name and address
MAKING TRADE
CO., LIMITED
Address: c/o
Joy Enterprise Secretary Services Ltd.
Room
C, 19/F., Lockhart Centre,
301-307
Lockhart Road, Wanchai,
Hong
Kong.
ADDRESS
Registered Office:-
c/o Joy Enterprise Secretary Services Ltd.
Room C, 19/F., Lockhart Centre, 301-307
Lockhart Road, Wanchai, Hong Kong.
Associated Companies:-
Ningbo Eshine International Logistics Co.
Ltd., China.
Ningbo Jiehua International Logistics Co.
Ltd., China.
BUSINESS
REGISTRATION NUMBER
61208726
COMPANY
FILE NUMBER
1884730
DATE
OF INCORPORATION
2nd
April, 2013.
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 02-04-2017)
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Name |
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No. of shares |
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MA Xianjie |
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5,000 |
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WANG Hua |
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5,000 |
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––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 02-04-2017)
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Name (Nationality) |
Address |
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WANG Hua |
No. 41, Nong 149, Zhangshu Street,
Jiangdong District, Ningbo City, Zhejiang Province, China. |
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MA Xianjie |
Room 106, No. 211, Nong 988, Zhongshanxi
Road, Haishu District, Ningbo City, Zhejiang Province, China. |
SECRETARY
(As per registry dated 02-04-2017)
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Name |
Address |
Co. No. |
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Joy Enterprise Secretary Services Ltd. |
Room C, 19/F., Lockhart Centre, |
1336601 |
GENERAL
Making Trade Co., Limited was incorporated on
2nd April, 2013 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 C, 19/F., Lockhart Centre, 301‑307
Lockhart Road, Wanchai, Hong Kong’ known as ‘Joy Enterprise Secretary Services
Ltd.’ [Joy] which is handling its correspondences and documents. Joy 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
equally-owned by Mr. Ma Xianjie and Mr. Wang Hua, both are China merchants.
Both 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 Ningbo City, Zhejiang Province, China.
The subject’s lines of business are unknown
since the secretarial company declined to report us about its business.
However, from our indirect sources, the
subject is trading in multi-layer cellulose cardboards, paper and paper
products.
The subject is a trading company which is
trading in various paper and paper products.
It has good co-operation relations with some good mills like APP,
Zhejiang Yuanda Paper Co., Ltd., Zhejiang Five-Star Paper Co., Ltd., Zhejiang
Jingxing Paper Co., Ltd., etc. Its main
products are fold box board, art board, duplex board with grey pack, food grade
white card paper, cup-stock paper, glassine, kraft paper, corrugated paper,
etc. At present, its main customer are
from Turkey, the Middle East, and Southeast Asia, etc.
Besides, the subject has had the following
two associated companies:
Ningbo Jiehua International Logistics Co.
Ltd. [Jiehua]
Ningbo Eshine International Logistics Co.
Ltd.
The brief information is as follow:
Name:
Jiehua
Address:
503, 19/F., Haiyun Garden, Daxie Development Zone, Ningbo City, Zhejiang
Province, China.
Tel.: 86-574-2689 7028
Date of Incorporation: 17th May, 2005.
Legal Status: Limited Liability Company (owned by natural
Persons)
Registered Capital: RMB8 million Yuan
Duration: 17th May, 2005 to 16th May, 2035 (30
years)
Registration No.: 330216000004032
Legal Representative: Ma Xianjie
Shareholders:
Ma Xianjie, Wang Hua
Jiehua is engaged in the following business
scope:
Freight forwarding (including air and sea)
Shipping
Transportation by road, railway, etc.
Container Shipping
Customs Declaration
Insurance
Warehousing
Courier Service
Other Logistics Management & Services,
etc.
Currently, Jiehua has a fleet of 45 trucks
and warehouses which covers an area of 10,000 sq.m. Besides, Jiehua has developed business ties
with the following shipping companies: COSCO, Emirates, Safmarine, Hanjin,
MISC, STX, Sinokor, CSAV, YML, Evergreen, etc.
The subject’s business in Hong Kong is not
active. History in Hong Kong is over
four 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 or in small credit amounts.
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 63.38 |
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1 |
INR 86.02 |
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Euro |
1 |
INR 76.50 |
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HKD |
1 |
INR 8.11 |
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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PRA |
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Report Prepared
by : |
KET |
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.