MIRA
INFORM REPORT
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Report Date : |
13.12.2011 |
IDENTIFICATION DETAILS
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Name : |
WILLIAMS REFRIGERATION HONG KONG LTD. |
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Registered Office : |
Flat A, 4/F., Harrington Building, 36-50 Wang Wo Tsai Street, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.06.1987 |
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Com. Reg. No.: |
11474159 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer and Exporter of Refrigeration products. |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Compliant |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
WILLIAMS REFRIGERATION
HONG KONG LTD.
ADDRESS: Flat A, 4/F., Harrington
Building, 36-50 Wang Wo Tsai Street, Tsuen Wan, New Territories, Hong Kong.
PHONE: 2407 5422
FAX: 2407 3767
E-MAIL: info@williams-china.com.cn
MANAGEMENT
Managing Director: Mr. Wong Ngai Chung,
Richard
SUMMARY
Incorporated on: 12th
June, 1987.
Organization: Private
Limited Company.
Capital: Nominal: HK$3,000,000.00
Issued: HK$3,000,000.00
Business Category: Manufacturer, Importer and Exporter.
Employees:
30.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Flat A, 4/F., Harrington Building, 36-50 Wang Wo Tsai Street,
Tsuen Wan, New Territories, Hong Kong.
China Offices: Shanghai, Beijing
and Guangzhou.
China Plant:-
William Refrigeration (Dongguan) Co. Ltd.
Qingyu Road, Sanxing Village, Qingxi Town, Dongguan City, Guangdong
Province, China.
[Tel: 86-769-8773 7208; Fax:
86-769-8733 7209]
Holding Company:-
Williams Refrigeration Ltd., UK.
Intermediate Holding Company:-
The AFE Group Ltd., UK.
Ultimate Holding Company:-
Ali S.p.A., Italy.
Associated/Affiliated Companies:-
Bongard Iberia S.A., Spain.
Dongguan Ming Fai Stainless Steel Catering Co. Ltd., China.
Eloma GmbH, Germany.
Falcon Foodservice Equipment Ltd., UK.
Miller’s Vanguard Ltd., UK.
Mono Equipment Ltd., UK.
Service Line Catering Equipment Engineers Ltd., UK.
Victory Refrigeration Inc., USA.
Williams Refrigeration (Downham Market) Ltd., UK.
Williams Refrigeration Australia Pty. Ltd., Australia.
Williams Refrigeration Central Ltd., UK.
Williams Silver Frost, France.
etc.
BUSINESS REGISTRATION NUMBER
11474159
COMPANY FILE NUMBER
0191083
MANAGEMENT
Managing Director: Mr. Wong Ngai Chung,
Richard
General Manager: Ms. Mable Leung
CAPITAL
Nominal Share Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$3,000,000.00
SHAREHOLDERS
(As per registry dated 12-06-2011)
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Name |
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No. of shares |
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Williams Refrigeration Ltd. Bryggen Road, North Lynn Industrial Estate, King’s Lynn, Norfolk, PE30
2HZ UK. |
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1,702,703 |
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The AFE Group Ltd. Bryggen Road, North Lynn Industrial Estate, King’s Lynn, Norfolk, PE30
2HZ UK. |
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1,297,297 |
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–––––––– |
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Total: |
3,000,000 ======= |
DIRECTORS
(As per registry dated 12-06-2011)
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Name (Nationality) |
Address |
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Timothy Simon SMITH |
Waldwens Barns, 1 Chapel Road, Dersingham, King’s Lynn, Norfolk, PE31
6PN, UK. |
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WONG Ngai Chung |
Flat H, 27/F., Block 38, Laguna City, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 12-06-2011)
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Name |
Address |
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TAM Cheuk Kai, Chris |
Flat 1704, Fu Wo House, Fu Keung Court, Lok Fu, Kowloon, Hong Kong. |
HISTORY
The subject was incorporated on 12th June, 1987 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Right Door
Industrial Ltd., name changed to Ming Fai Stainless Steel Catering Equipment
Manufacturing Ltd. on 12th February, 1988 and further changed to the present
style on 2nd December, 2009.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Manufacturer,
Importer and Exporter.
Lines: Refrigeration
products.
Employees: 30.
Commodities Imported: UK, Italy, other European countries, etc.
Markets: China,
other Asian countries, Europe, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$3,000,000.00 (Divided into 3,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$3,000,000.00
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making 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
Having issued 3 million ordinary shares of HK$1.00 each, Williams
Refrigeration Hong Kong Ltd. is jointly owned by Williams Refrigeration Ltd., a
UK-based firm holding 56.8% interests; and The AFE Group Ltd. [AFE], also a
UK-based firm holding 43.2%. The ultimate
holding company of the subject is Ali S.p.A., an Italy-based firm.
The predecessor of the subject was Ming Fai Stainless Steel Catering
Equipment Manufacturing Ltd. Now, Ming
Fai has become part of the Williams Refrigeration Group.
The subject is a member of the Williams Refrigeration Group
[Williams Refrigeration] with incorporate head office in the United
Kingdom.
Williams Refrigeration is a refrigeration solution provider. It is one of the market-leading manufacturers
and providers of commercial refrigeration solutions meeting global commercial
foodservice requirements worldwide. For
over 25 years, Williams Refrigeration has built a world wide reputation for the
quality, performance and reliability of its products, exceeding international
quality standards. Williams
Refrigeration’s products include cabinets, counters, reach-in/modular blast
chillers and freezers, coldrooms, specialist bakery and heat exchange
equipment. All these products are in
conformity with international ISO 9001-2000 quality standards.
Williams Refrigeration is a business name of AFE which was registered in
England. Its registered number is
3872673. AFE’s registered address is
located at Bryggen Road, North Lynn Industrial Estate, King’s Lynn, Norfolk,
PE30 2HZ.
With over 400 years combined experience, the AFE Group’s component
companies provide an extensive product portfolio and service support to over
50,000 customers throughout the world.
All of the AFE Group’s companies are intrinsically linked by a
comprehensive infrastructure of sales support and streamlined purchase methods,
through which customers can benefit from a single sales point.
The main production bases of Williams Refrigeration are in Australia and
Dongguan City, Guangdong Province, China.
The one in China is known as William Refrigeration (Dongguan) Co.
Ltd. This plant was set up in 1995 and
employing about 100 persons. The annual
sales turnover of this plant is about RMB300 million Yuan.
Currently, the subject has had China offices in Shanghai, Beijing and
Guangzhou. Its products are exported to
Australia, the Middle East, Southeast Asia, North America, Europe, Southeast
Asia, and marketed in China.
The subject is fully supported by the William Refrigeration Group.
On the whole, in view of the parentage of the subject, consider it good
for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.42 |
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|
1 |
Rs.81.92 |
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Euro |
1 |
Rs.69.94 |
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.