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MIRA INFORM REPORT
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Report No. : |
485538 |
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Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
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Name : |
TRIPLE LINE INTERNATIONAL LIMITED |
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Registered Office : |
C/o Turbo Sino Ltd. Room 2103, 21/F., Tung Chiu Commercial Centre, 193 Lockhart Road, Wan Chai |
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Country : |
Hongkong |
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Date of Incorporation : |
10.07.2007 |
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Com. Reg. No.: |
38156453 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is engaged in ship chartering. |
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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
TRIPLE LINE INTERNATIONAL LIMITED
ADDRESS
Registered Office:-
C/o Turbo Sino
Ltd.
Room 2103, 21/F.,
Tung Chiu Commercial Centre, 193 Lockhart Road, Wan Chai, Hong Kong.
Associated Companies:-
Xiamen Sanhang
Supply Chain Management Co. Ltd., China.
Xiamen Triple Line
Ltd., China.
BUSINESS
REGISTRATION NUMBER
38156453
COMPANY
FILE NUMBER
1148292
DATE
OF INCORPORATION
10th July, 2007.
ISSUED
SHARE CAPITAL
HK$1.00
SHAREHOLDER
(As
per registry dated 10-07-2017)
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Name |
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No. of share |
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LI Wenhuo |
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1 = |
DIRECTOR
(As
per registry dated 10-07-2017)
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Name (Nationality) |
Address |
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LI Wenhuo |
Room 601, No. 73, Songyueli, Siming District,
Xiamen City, Fujian Province, China. |
SECRETARY
(As
per registry dated 10-07-2017)
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Name |
Address |
Co. No. |
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Turbo
Sino Ltd. |
Room 1107, 11/F., Celebrity Commercial Centre, 64 Castle Peak Road,
Shamshuipo, Kowloon, Hong Kong. |
1922733 |
GENERAL
Triple Line International Limited was incorporated on 10th July, 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 2103, 21/F., Tung Chiu Commercial Centre, 193 Lockhart Road, Wan Chai, Hong Kong’ known as ‘Turbo Sino Ltd.’ [TSL] which is handling its correspondences and documents. TSL is also the corporate secretary of the subject. This company has two offices in Hong Kong.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued just one ordinary share of HK$1.00 which is owned by Mr. Li Wenhuo 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 Siming District, Xiamen City, Fujian Province, China.
The subject is engaged in ship chartering.
The
subject has had an associated company in China.
Its brief information is as follow:
Name: Xiamen
Triple Line Ltd. [XTL]
Address: 10 # 248 Xinglong Road, Huli District, 361006 Xiamen Special Economic
Zone, China.
Tel.: 86-592-566
6060
Fax:
86-592-566
6688
E-mail:
chartering@triple-line.com
Date
of incorporation: 25th December, 1998.
Legal Status: Limited
Liability Company (owned natural person)
Registered
Capital: RMB1.5 million Yuan
Duration: 25th
December, 1998 to 24th December, 2038 (40 years)
Business
Registration No.: 350206200039886
Registry
Organization: Xiamen CIA
Legal
Representative: Mr. Li Wanyuan
Shareholders: Mr.
LI Wenhuo and Mr. Li Wanyuan
XTL has been awarded NVOCC license as No. MOC-NV02060 by the Ministry of Transportation of the People’s Republic of China. It is primarily engaged in chartering bulk & general vessels and managing supply chain services. It is one of the long-lasting companies that specialized in chartering business in China. It has launched liners services from India, Brazil and Africa to China in the past 17 years, and has become the leading carrier in these fields.
It began to build the global SCM platform in 2010, helping customers to shorten cash turnover period, reduce enterprise risk, increase profits, etc.
SCM services is XTL’s another pioneering business.
XTL provides tailored supply chain service plan according to enterprises’ requirements to help them improve enterprise efficiency, promote enterprise innovation, etc.
After 5 years’ global business development, XTL has completed Asia, Africa, South America logistic base facilities, offer shipping transportation to global major rough granite markets and accordant supply chain services.
In India, XTL has two large scale and self-owned yards and two exclusive railway sidings inside the ports in India.
The India associated company has been equipped with loading/unloading equipment, i.e., four gantry cranes, four crawler cranes, four forklifts, two weighbridges, heavy-duty trucks for both loading/unloading and transportation. It also has a team of stevedores which are experienced.
In Africa, XTL also owns heavy capacity of forklifts, lashing team and lashing/chocking tools. In Brazil, its self-owned logistic yard is under construction.
In China, XTL also has large scale supervised yard with more than 200,000 m², equipped with two 55 MT and many small tonnage loading/unloading equipment.
1. XTL
is the first company to launch tramping liner shipping service of granite
blocks from Africa to China.
2. The
first China company with self-owned handling yard and private loading/unloading
railway siding in India.
3. The
first China company to launch tramping liner shipping service of granite blocks
from Brazil to China.
4. The
first China company to design and erect gantry crane in India.
The subject’s business in Hong Kong is not active. History in Hong Kong is over ten years and a month.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.83 |
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1 |
INR 86.28 |
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Euro |
1 |
INR 76.14 |
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HKD |
1 |
INR 8.14 |
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 : |
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.