MIRA INFORM
REPORT
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Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
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Name : |
WELL
SEA INTERNATIONAL LTD. |
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Registered Office : |
c/o CA Services Ltd., Room 2302, 23/F., Seaview Commercial Building, 21-24 Connaught Road West, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.03.2010 |
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Com. Reg. No.: |
52227729 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of stainless steel materials, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
WELL SEA INTERNATIONAL
LTD.
Company ADDRESS
c/o CA Services Ltd.
Room 2302, 23/F., Seaview Commercial Building, 21-24 Connaught Road West, Sheung Wan, Hong Kong.
PHONE: 6499 6158
FAX: 2855 8158
MANAGEMENT
Managing Director: Mr. Zheng Bingcheng
SUMMARY
Incorporated on: 11th March, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
Company ADDRESS
Registered Head
Office:-
c/o CA Services Ltd.
Room 2302, 23/F., Seaview Commercial Building, 21-24 Connaught Road West, Sheung Wan, Hong Kong.
Associated
Companies:-
Foshan Bong Thai Trade Co. Ltd., China.
Foshan Kejinda Stainless Steel Co. Ltd., China.
Foshan Shucheng Stainless Steel Co. Ltd.
No. 33-35, Block 6, Lanshi International Metal Trading Centre, Foshan City, Guangdong Province, China.
[Tel: 86-757-8310
0179; Fax: 86-757-8387 9000]
BUSINESS REGISTRATION NUMBER
52227729
COMPANY FILE NUMBER
1429119
MANAGEMENT
Managing Director: Mr. Zheng Bingcheng
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDER
(As per registry dated 11-03-2011)
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Name |
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No. of shares |
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ZHENG Bingcheng |
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10,000 ===== |
DIRECTOR
(As per registry dated 11-03-2011)
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Name (Nationality) |
Address |
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ZHENG Bingcheng |
Room C, 16/F., Skyline Tower, 18 Tong Mi Road, Mongkok, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 25-03-2011)
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Name |
Address |
Co.
No. |
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CA Services Ltd. |
Room 2302, 23/F., Seaview Commercial Building, |
1126204 |
HISTORY
The subject was incorporated on 11th March, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat A, 3/F., Mei Wah Mansion, 42 Smithfield, Kennedy Town, Hong Kong, moved to the present address with effect from 25th March, 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of stainless steel materials, etc.
Employees: Nil.
Commodities Imported: China, India, Europe, Eastern Europe, etc.
Markets: China, other Asian countries, Europe, North America, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Too early to comment.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Well Sea International Ltd. is wholly owned by Mr. Zheng Bingcheng who is a China merchant. Being a China ID holder, he is the only director of the subject.
The subject’s registered address was located at Flat A, 3/F., Mei Wah Mansion, 42 Smithfield, Kennedy Town, Hong Kong. This office was not in a commercial building but a residential building. In March 2011, the subject moved to Room 2302, 23/F., Seaview Commercial Building, 21‑24 Connaught Road West, Sheung Wan, Hong Kong where is the operating address of a commercial service provider CA Services Ltd. which is also the corporate secretary of the subject.
Your given address “Room C, 16/F., Skyline Tower, 18 Tong Mi Road, Mongkok, Kowloon, Hong Kong” is the operating address of Global Smart CPA Ltd. which is an accountant firm. This is also Zheng’s Hong Kong registered address.
The subject has no employees in Hong Kong.
According to your given phone number, we found that it belongs to a China‑based firm known as Foshan Shucheng Stainless Steel Co. Ltd. [Foshan Shucheng]. The subject is an associated company of Foshan Shucheng. Zheng is the general manager.
Foshan Shucheng is specialized in stainless steel trading. It has established partnership with Southwest Steel Factory of China and other end-users. It has become the sole agency of the Factory for 304# steel product in south China. Its products include 304 and 201 hot-rolled stainless steel coils. With sufficient goods of varieties and competitive prices, Foshan Shucheng can meet the needs of customers and extend its business in China.
Foshan Shucheng has joined hands with Foshan Kejinda Stainless Steel Co. Ltd., a company specialized in 304 narrow-coil, in 2009. In addition, Foshan Shucheng has set up long strategic partnership with Yaitai and Huadi Steel Factory, with which Foshan Shucheng is able to provide customized products of steel coil. In order to facilitate its import and export operation, Foshan Shucheng set up the subject in Hong Kong in March 2010.
Foshan Shucheng’s products are marketed in China, Hong Kong, exported to Taiwan, Macau, other Asian countries, Europe, North America, etc.
The business of Foshan Shucheng is handled by Ms. Clarie Zhang. Currently, its stock is about 8,000 metric tons in average every month.
Foshan Shucheng deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. Foshan Shucheng also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not very active.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.40 |
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|
1 |
Rs.73.26 |
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Euro |
1 |
Rs.65.17 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.