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MIRA INFORM REPORT
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Report No. : |
497360 |
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Report Date : |
15.03.2018 |
IDENTIFICATION DETAILS
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Name : |
LODESTAR TRADING CO., LIMITED |
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Registered Office : |
C/o Fu Wah Int’l Business (HK) Ltd., Unit 04, 7/F.,
Bright Way Tower, 33 Mong Kok Road, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
19.08.2009 |
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Com. Reg. No.: |
51040590 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
· Subject is trading in the following commodities: Metal hardware, window fittings, door fittings, iron-gate, steel door, bathroom ware, steel fire rated doors, steel doors, bathroom doors, ACP roofing sheet, PVC foam board, aluminium section, building materials. · Subject also deal in other products such as commutator, mica sheet, motor, bearing, fibre glass chopped strand, furniture and all types of machines. |
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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
LODESTAR TRADING CO., LIMITED
ADDRESS
Registered Office:-
C/o Fu Wah Int’l Business (HK) Ltd.
Unit 04, 7/F., Bright Way Tower, 33 Mong Kok Road,
Kowloon, Hong Kong.
China Associated
Company:-
Guangzhou Haohao Trading Co. Ltd.
Room 1921, Baihui Plaza, No. 193 Zhongshan Fifth Road,
Yuexiu District, Guangzhou, Guangdong Province, China.
[Tel: 86-20-8364 9503,
Fax: 86-20-8364 9503]
BUSINESS REGISTRATION NUMBER
51040590
COMPANY FILE NUMBER
1364428
DATE OF INCORPORATION
19th August, 2009.
ISSUED SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As per registry dated 19-08-2017)
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Name |
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No. of shares |
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CHEN Bi Zhu |
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10,000 ===== |
DIRECTOR
(As per registry dated 19-08-2017)
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Name (Nationality) |
Address |
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CHEN Bi Zhu |
Room 1921, Baihui Plaza, No. 193 Zhongshan Fifth Road,
Yuexiu District, Guangzhou, China. |
SECRETARY
(As per registry dated 19-08-2017)
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Name |
Address |
Co. No. |
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Fu Wah Int’l Business (HK) Ltd. |
Unit 04, 7/F., Bright Way Tower, 33 Mong Kok Road,
Kowloon, Hong Kong. |
1205540 |
GENERAL
Lodestar Trading Co.,
Limited was incorporated on 19th August, 2009 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 “Unit 04, 7/F., Bright Way
Tower, 33 Mong Kok Road, Kowloon, Hong Kong” known as “Fu Wah Int’l
Business (HK) Ltd.” which is handling its correspondences and documents. This company 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 Ms. Chen Bi Zhu who is a China
merchant.
She is a China ID
holder and does not have the right to reside in Hong Kong permanently. She is also the only director of the subject.
The subject has had
an associated company in China known as Guangzhou Haohao Trading Co. Ltd.
[Haohao]. This company is also owned and
operated by Ms. Chen Bi Zhu. Your given
phone number 86-20-8364 9503 belongs to this company.
The subject and
Haohao are engaged in the same lines of business. Haohao is trading in the following
commodities:
Metal hardware,
window fittings, door fittings, iron-gate, steel door, bathroom ware, steel
fire rated doors, steel doors, bathroom doors, ACP roofing sheet, PVC foam
board, aluminium section, building materials, etc.
Haohao also deal in
other products such as commutator, mica sheet, motor, bearing, fibre glass
chopped strand, furniture and all types of machines.
Business commenced in
2008, Haohao’s business is chiefly handled by Chen Bi Zhu herself. She can be reached at her China mobile phone
number 86-1351 2704 199.
Most of the commodities
are sourced from the suppliers in China.
Products are marketed in China, exported to the other Asian countries,
Europe, the United States, etc.
The annual sales
turnover of Haohao ranges from US$1.5 to 2.0 million.
Haohao deals with
foreign parties under the name of the subject and let foreign firms correspond
with the subject’s registered address in Hong Kong.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is over eight years and six 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 64.99 |
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1 |
INR 90.83 |
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Euro |
1 |
INR 80.09 |
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HKD |
1 |
INR 8.28 |
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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VIV |
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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
·
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.