MIRA INFORM REPORT

 

 

Report Date :

29.08.2011

 

IDENTIFICATION DETAILS

 

Name :

YILI  INDUSTRIES  LTD.

 

 

Registered Office :

Wo Cheong House, Wo Ming Court, Tseung Kwan O, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

06.11.2006

 

 

Com. Reg. No.:

37329764

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Manufacturer and Exporter of all kinds of machinery and equipment for manufacturing underwear

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

YILI  INDUSTRIES  LTD.

 

 

Address:          

Wo Cheong House, Wo Ming Court,

Tseung Kwan O, New Territories,

Hong Kong.

 

(Head Office)

and

c/o Hung Ki Watch Parts Co.

Unit 3A, 3/F., Shing Wan Industrial Building,

15-17 Shing Yip Street, Kwun Tong,

Kowloon, Hong Kong.

(Registered Office)

 

PHONE:            2271 9511

 

FAX:                 2954 1373

 

 

MANAGEMENT

 

Managing Director:  Mr. Yu Lelun

 

 

SUMMARY

 

Incorporated on:             6th November, 2006.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Machinery Trader and Manufacturer.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

ADDRESS

 

Registered Office:-

c/o Hung Ki Watch Parts Co.

Unit 3A, 3/F., Shing Wan Industrial Building, 15-17 Shing Yip Street, Kwun Tong, Kowloon, Hong Kong.

[Tel: 2342 9165;  Fax: 2341 4019]

 

Head Office:-

Wo Cheong House, Wo Ming Court, Tseung Kwan O, New Territories, Hong Kong.

 

China Factory:-

Shantou Jinping Yili Industries Ltd.

Zhaitou Industry Park, Chaoshan Road, Shantou Special Economic Zone, China.

[           Tel:       86-754-8810 6702

Fax:      86-754-8810 7702

E-mail:  yilijx@yilicn.com]

 

China Associate:-

Shantou Yili Machinery Equipment Factory, China.

 

 

BUSINESS REGISTRATION NUMBER

 

 37329764

 

 

COMPANY FILE NUMBER 

 

1085625

 

 

MANAGEMENT

 

Managing Director:  Mr. Yu Lelun

 

 

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 06-11-2010)

 

Name

 

No. of shares

YU Lelun

 

10,000

=====

 

 

DIRECTOR    

(As per registry dated 06-11-2010)

 

Name

(Nationality)

 

Address

YU Lelun

9-6 Hungkon Heritage, Wonkong Cun, Yaubin Can, Guangdong Province, China.

 

 

SECRETARY

(As per registry dated 06-11-2010)

 

Name

Address

Co. No.

EB Secretaries Ltd.

Room 2304, 23/F., Fu Fai Commercial Centre, 27 Hillier Street, Sheung Wan, Hong Kong.

0329503

 

 

HISTORY

 

The subject was incorporated on 6th November, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Manufacturer and Exporter.

 

Lines:                           All kinds of machinery and equipment for manufacturing underwear.

 

Employees:                   Nil.

 

Materials/Commodities:  Imports raw materials from European countries, some Asian countries and finished products from China.

 

Markets:                       China, other Asian countries, Eastern Europe, Africa, Middle East, 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:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not very active in Hong Kong.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Normal.

 

GENERAL

 

Yili Industries Ltd. is wholly owned by Mr. Yu Lelun who is a China merchant.  Yu is the only director of the subject.  He is a China ID holder and does not have the right to reside in Hong Kong permanently.  Currently, he is residing in China.

The subject’s registered address is located at Unit 3A, 3/F., Shing Wan Industrial Building, 15-17 Shing Yip Street, Kwun Tong, Kowloon, Hong Kong where is the operating office of a Hong Kong-registered firm Hung Ki Watch Parts Co.  However, its operating office is in a residential building.  Given phone number 852-2271 9511 and fax number 852‑2954 1373 belong to the residence in the private building known as “Wo Cheong House”.  It is likely that the subject has had a representative who is residing in “Wo Cheong House”.  The subject has no employees in Hong Kong.

The subject is trading in all kinds of underwear machines.  Its associated factory Shantou Jinping Yili Industries Ltd. [Shantou Yili] is engaged in manufacturing the following products:-

A6-E Turn-table Hot Presses

Cotton-dig Machine

Bra Steel Ring Moulding Machine

D1-B Bullet-shape Moulding Machine

D1-A Bullet-shape Moulding Machine

D1-DD Bullet Molding Machine

A2-D Bra Sponge Moulding Machine

YL-8562 Spong Moulding Machine

3D-1 Automatic Foam Skiving Machine

YL-918 Glue Sprayer

The subject’s products are marketed in China, exported to other Asian countries, Eastern Europe, Africa, the Middle East, etc.  Shantou Yili has set up sales and service centres in Shantou Special Economic Zone and Pearl River Delta of Guangdong Province, China.

The subject’s factory, in Shantou Special Economic Zone, China, has about 80 employees.  Business is normal.

The subject has had another associated company in Shantou Special Economic Zone, China known as Shantou Yili Machinery Equipment Factory.

Shantou Yili is also owned and operated by Yu Lelun.

In China, Shantou Yili has registered a number of patents with the State Intellectual Property Bureau of the People’s Republic of China.

It is likely that Shantou Yili deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  Shantou Yili 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 L/C basis.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.19

Euro

1

Rs.66.47

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.