MIRA INFORM
REPORT
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Report Date : |
06.07.2011 |
IDENTIFICATION DETAILS
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Name : |
POWERLAND
GROUP HOLDINGS LTD. |
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Registered Office : |
c/o ATA Corporate Formation & Management Ltd., Room 1001, 10/F., Fourseas Building, 208-212 Nathan Road, Mongkok, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.11.2010 |
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Com. Reg. No.: |
53270139 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of bags, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Bottom of Form
Company name
POWERLAND GROUP HOLDINGS
LTD.
Company ADDRESS
c/o ATA Corporate Formation & Management Ltd.
Room 1001, 10/F., Fourseas Building, 208-212 Nathan Road, Mongkok, Kowloon, Hong Kong.
PHONE: 2528 3382
FAX: 2783 7918
MANAGEMENT
Managing Director: Mr. Guo Shunyuan
SUMMARY
Incorporated on: 12th November, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Group Revenue: €112,635,000 (Year ended 31-12-2010)
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Too early to comment.
COMPANY ADDRESS
Registered Head
Office:-
c/o ATA Corporate Formation & Management Ltd.
Room 1001, 10/F., Fourseas Building, 208-212 Nathan Road, Mongkok, Kowloon, Hong Kong.
Holding Company:-
Powerland International Holdings Ltd., Hong Kong.
Intermediate
Holding Company:-
Powerland AG, Germany.
Ultimate Holding
Company:-
Guo GmbH & Co. KG, Germany.
Associated
Factories:-
Fujian Powerland Leather Case & Products Co. Ltd., China.
Guangzhou Powerland Leather Case & Products Co. Ltd., China.
Subsidiary/Associated Companies:-
Powerland Group of Companies
Powerland (Australia) International Trading Co. Ltd., Australia.
Powerland Group (China) Ltd., Hong Kong.
Powerland Putain Trading Co. Ltd., China.
etc.
BUSINESS REGISTRATION NUMBER
53270139
COMPANY FILE NUMBER
1527899
MANAGEMENT
Managing Director: Mr. Guo Shunyuan
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 29-06-2011)
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Name |
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No. of shares |
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GUO Shunyuan |
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10,000 ===== |
DIRECTOR
(As per registry
dated 29-06-2011)
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Name (Nationality) |
Address |
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GUO Shunyuan |
4-52, Jiuzhongxiyuan, No. 11 Jiefang, Qingnian Road, Kundulun District, Baotou, Neimenggu, China. |
SECRETARY
(As per registry
dated 29-06-2011)
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Name |
Address |
Co.
No. |
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Ata Corporate Formation & Management Ltd. |
Room 1001, 10/F., Fourseas Building, 208‑212 Nathan Road, Mongkok, Kowloon, Hong Kong. |
0768611 |
HISTORY
The subject was incorporated on 12th November, 2010 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: Importer, Exporter and Wholesaler.
Lines: All kinds of bags, etc.
Employees: Nil.
Materials/Commodities: Imports raw materials from European countries, some Asian countries and finished
products from China.
Markets: China, Europe, North America, Australia, etc.
Group Revenue: € 54,701,000 (Year ended 31-12-2008)
€ 82,176,000 (Year ended 31-12-2009)
€112,635,000 (Year ended 31-12-2010)
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
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
Group Net Profit: €10,813,000 (Year ended 31-12-2008)
€18,017,000 (Year ended 31-12-2009)
€22,617,000 (Year ended 31-12-2010)
Profit or Loss: Group made a small profit in the past three years.
Condition: Business is under development.
Facilities: Trying to make use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Fairly satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Powerland Group Holdings Ltd. is wholly-owned by Mr. Guo Shunyuan who is a China businessman. Guo is a China passport holder and does not have the right to reside in Hong Kong permanently.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 1001, 10/F., Fourseas Building, 208-212 Nathan Road, Mongkok, Kowloon, Hong Kong known as ATA Corporate Formation & Management Ltd. which is handling its correspondences and documents. This firm is also the corporate secretary of the subject. The subject has no employees in Hong Kong.
To our knowledge, Guo Shunyuan is the Chairman and Chief Executive Officer of Powerland AG [Powerland] which is a Germany-based firm. Residing in China, Guo is responsible for Powerland’s overall business strategy and operations. He holds an Executive MBA from Beijing University and has over 15 years of experience in the Chinese and international textile and leather products industry (e.g. in South Africa). Over the years, he has established a wide spread and excellent business network domestically as well as internationally. Guo has received numerous business awards, for example the Asian Brands Top 10 Innovator Award (2007), the Top 10 Innovation Award for Excellence in China (2007) and the Man of the Year in the Luggage Leather Industry of China Award (2009). In managing Powerland, Guo is assisted by three colleagues, namely, Mr. Guo Yongliang, Mr. Gan Hock Soon and Mr. Cai Qingsheng.
Powerland was listed in Germany on 16th April, 2011. It is an investment holding company of the Powerland Group. The subject is a member of the Powerland Group of companies.
Powerland is a Chinese supplier of a broad range of elegant and high quality ladies’ bags, travel cases and accessories. It manufactures, markets, and sells its products in two separate business segments: luxury and casual.
In the Luxury Segment, Powerland is active in the luxury goods market in China and sells fashionable women’s handbags, travel cases, wallets and purses and, since 2010, men’s handbags, briefcases and belts. The products are all made from genuine leather, under its premium brand “Powerland”. Powerland targets upper-middle class Chinese customers in the up-and-coming domestic market. The “Powerland” brand positions itself in the medium to upper price segment as an original Chinese luxury brand, among the established international luxury brands.
In the Casual Segment, Powerland designs, manufactures and sells casual bags made of textile or synthetic leather, which target the Chinese and overseas mid- to low-end segment of the non-luxury bags and luggage market. Products include handbags, sport bags, backpacks, travel bags, laptop bags, tool bags, cooling bags, and accessories (e.g. wallets and purses). These products are sold under Powerland’s second brand “Sotto”.
The Group currently has two main factories in China:-
·
Fujian Powerland Leather Case & Products Co.
Ltd.
[Powerland Fujian]
·
Guangzhou Powerland Leather Case & Products
Co. Ltd.
[Powerland Guangzhou]
Powerland Fujian is engaged in the design and marketing of the genuine leather products of the “Powerland” brand. The production of these luxury products is entirely outsourced. The design, manufacturing and marketing of textile goods for the casual products is also located in Fujian. Powerland Guangzhou is home to the design, manufacturing and marketing of the company’s synthetic leather goods. The new brand and marketing centre is located in Guangzhou as well.
For the year ended 31st December, 2010, the revenues of the Powerland Group amounted to €112.6 million (2009: €82.2 million); net profit was €22.6 million (2009: €18.0 million). As at 31st December, 2010, the Group had 1,075 employees (2009: 917 employees).
Supported by the Powerland Group, the subject’s business in Hong Kong is not active.
Since the subject does not have its own operating office and has no employees in Hong Kong, on the whole, 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.44.50 |
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UK Pound |
1 |
Rs.71.25 |
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Euro |
1 |
Rs.64.40 |
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.