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MIRA INFORM REPORT
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Report No. : |
492881 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
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Name : |
CHINABRIDGE HOLDINGS LIMITED |
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Registered Office : |
C/o SBC Corporate
Services Ltd., 11/F., Capital Centre, 151 Gloucester Road, Wanchai |
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Country : |
Hongkong |
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Date of Incorporation : |
21.06.2004 |
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Com. Reg. No.: |
34668789 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
· The subject is trading in the products of electronic components for TV and other electronics as entrusted by customers. · It also trades in the following products:- Auto Parts, Machine Parts, Electrical Connectors, Moulds, Plastic Injection Products, Cooling Industry Products, Professional DIY Products, Medical Products, Heating Pumps, Sub-Assemblies, Hand tools. |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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
CHINABRIDGE
HOLDINGS LIMITED
ADDRESS
Registered Office:-
C/o SBC Corporate Services Ltd.
11/F., Capital Centre, 151 Gloucester Road, Wanchai, Hong
Kong.
[Formerly located at:
C/o SBC Corporate Services Ltd.
Unit 2208-2209, 22/F., Wu Chung House, 213 Queen’s Road
East, Wanchai, Hong Kong.]
Associated
Companies:-
Excel World International Ltd., Hong Kong. [Dissolved]
Excel World International (Shenzhen) Ltd.
Room 1403, Tower B, Jiangsu Building, Yi Tian Road,
Futian District, 518026 Shenzhen, China.
[Tel: 86-755-8296 0504;
Fax: 86-755-8296 0539
E-mail: yuanzs@szonline.net]
BUSINESS REGISTRATION NUMBER
34668789
COMPANY FILE NUMBER
0907966
DATE OF INCORPORATION
21st June, 2004.
ISSUED SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 21-06-2017)
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Name |
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No. of shares |
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ZHOU Li |
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5,100 |
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YUAN Zhisheng |
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4,900 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 21-06-2017)
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Name (Nationality) |
Address |
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YUAN Zhisheng |
Room 602, Block 2, Hong Hao Ge, Run Yu Shan Jing Hao
Yuan, Mei Lin, Futian District, Shenzhen, China. |
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ZHOU Li |
Room 602, Block 2, Hong Hao Ge, Run Yu Shan Jing Hao
Yuan, Mei Lin, Futian District, Shenzhen, China. |
SECRETARY
(As per registry dated 21-06-2017)
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Name |
Address |
Co. No. |
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SBC Corporate Services Ltd. |
Room B, 10/F., Tower A, Billion Centre, 1 Wang
Kwong Road, Kowloon Bay, Kowloon, Hong Kong. |
0618863 |
HISTORY
The company was
incorporated on 21st June, 2004 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the
subject’s registered address was located at Unit 2208-2209, 22/F., Wu Chung
House, 213 Queen’s Road East, Wanchai, Hong Kong where was the operating office
of a commercial service provider known as SBC Corporate Services Ltd.
[SBC]. The subject changed its
registered address to the present one where is the other office of SBC with
effect from 1st February, 2018.
Apart from these, neither material change nor amendment
has been ever traced and noted.
MORTGAGE OR CHARGE
Date: 18-02-2017
Description of
Instrument: Deed of Indemnity,
Charge Over Deposit and Set-Off
Mortgagee: Bank
of China (Hong Kong) Ltd., Hong Kong.
GENERAL
Chinabridge Holdings
Ltd. was incorporated on 21st June, 2004 as a private limited liability
company.
Having issued 10,000
ordinary shares of HK$1.00 each, the subject is jointly owned by Ms. Zhou Li,
holding 51% interests, Mr. Yuan Zhisheng, holding 49%. They are also directors of the subject and
currently residing in Shenzhen Special Economic Zone, China. The two shareholders seem to be a couple.
The subject does not
have its own operating office. Its
registered office is in a commercial service firm located at “11/F., Capital
Centre, 151 Gloucester Road, Wanchai, Hong Kong.” known as “SBC Corporate
Services Ltd.” [SBC] which is handling its correspondences and documents. This company is also the corporate secretary
of the subject. SBC in Hong Kong has
several offices.
The subject has no
employees in Hong Kong.
The subject has had
an associated company Excel World International (Shenzhen) Ltd. [Shenzhen Excel
World], China. Its brief information is as follow:-
Name: Shenzhen Excel World
Incorporated on: 17th October,
2003
Duration: 17th October, 2003 to
16th October, 2023 (20 years)
Registered Capital: RMB 1 million
Yuan
Legal Status: Limited Liability
Company (owned by natural person)
Organization
Code: 755664163
Registration
No.: 440301105142030
Legal
Representative: Ms. Zhou Li
Annual
Sales Turnover: US$20 – 25 million
The subject is
trading in the products of Shenzhen Excel World such as electronic components
for TV and other electronics as entrusted by customers. It also trades in the following
products:-
Auto Parts, Machine
Parts, Electrical Connectors, Moulds, Plastic Injection Products, Cooling
Industry Products, Professional DIY Products, Medical Products, Heating Pumps,
Sub-Assemblies, Hand tools, etc.
Commodities are
imported from China and other Asian countries.
The subject also
imports overseas products and re-exports to China, imports China made products
and markets in Hong Kong or re-exports to foreign markets. However, business is not very active.
Shenzhen Excel World
is engaged in sourcing electronic components from other Provinces in China and
markets in Southern China or exports to foreign countries. It also imports foreign products via the
subject and markets in China. Business
has been normal.
Shenzhen Excel World offers customers with the following
services:-
· Logistics;
· Products Sourcing; &
· Quality Control, etc.
The business of
Shenzhen Excel World is handled by the two shareholders of the subject.
The customers of
Shenzhen Excel World are in Europe, Russia, Ukraine, Tunisia, Egypt, India, the
Middle East, the United States, South America, other Asian countries, etc.
The following
companies are some of the customers of Shenzhen Excel World:-
Verallia, Bricodeal,
didactic Group, Sider, Cobham Hamelin, Air Liquide, exosun, etc.
Besides operating the
subject, the shareholders of the subject had operated another company known as
Excel World International Ltd. which was a Hong Kong-registered company.
However, this company has been dissolved.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is over 13 years and eight months.
On the whole, 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 65.10 |
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1 |
INR 90.47 |
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Euro |
1 |
INR 79.59 |
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HKD |
1 |
INR 8.32 |
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 : |
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
·
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.