MIRA INFORM REPORT

 

 

Report Date :           

16.05.2011

 

IDENTIFICATION DETAILS

 

Name :

PROMOTION  BLUE  CHIP  STANDARD  HONG  KONG  LTD.

 

 

Registered Office :

8/F., Cheung Lung Industrial Building, 10 Cheung Yee Street, Cheung Sha Wan, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

17.12.2008

 

 

Com. Reg. No.:

50114499

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Manufacturer and Exporter of Auto-dialers, LCD watches, quartz analogue watches, clocks (general), timers/stopwatches, electronic and consumable products.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Regular

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

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

PROMOTION  BLUE  CHIP  STANDARD  HONG  KONG  LTD.

 

 

Company ADDRESS

 

8/F., Cheung Lung Industrial Building, 10 Cheung Yee Street, Cheung Sha Wan, Kowloon, Hong Kong.

PHONE:            2260 7181,  2745 8866

FAX:                 2745 8511

 

 

MANAGEMENT

 

Managing Director:  Mr. So Wing Keung, Paul

 

 

SUMMARY

 

Incorporated on:             17th December, 2008.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

 

Issued:              HK$1,000.00

 

Business Category:        Watch Manufacturer and Exporter.

 

Group Annual Turnover:  HK$500~550 million.

 

Employees:                   70.  (Including associates)

 

Main Dealing Banker:     Hang Seng Bank Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

8/F., Cheung Lung Industrial Building, 10 Cheung Yee Street, Cheung Sha Wan, Kowloon, Hong Kong.

 

Holding Company:-

Promotion Blue Chip Standard S.L., Spain.

 

Associated/Affiliated Companies:-

Consolidated Marketing International Inc., USA.

Gold Bullet Trade Ltd., Hong Kong.

Hofast Co. Ltd., Hong Kong.  [Dissolved]

Joyful Fairy (China) Ltd., Hong Kong.

Joyful Fairy (Fruits) Far East Ltd., Hong Kong.

Joyful Fairy (Fruits) Ltd., Hong Kong.

Joyful Fairy Ltd., Hong Kong.

Meizhou Sweda Electronics Co. Ltd., China.

o.d.m. Design & Marketing Ltd., Hong Kong.

P.S.L. Europe B.V., the Netherlands.

P.S.L. Europe Spain S.L., Spain.

P.S.L. France, France

P.S.L. Ltd., Hong Kong.

P.S.L. Warehouse & Trading (Shenzhen) Co. Ltd., China.

Paul So Co. Ltd., Hong Kong.  [Dormant]

Praxis Development Ltd., Hong Kong.

Sweda (Dongguan) Electronics Co. Ltd., China.

Sweda (Dongguan) Electronics Co. Ltd., Hong Kong.

Sweda (Paul So) Ltd., Hong Kong.

Sweda (Shenzhen) Electronics Co. Ltd., China.

Sweda Co. LLC, USA.

Sweda Corporation, USA.

Sweda Ltd., Hong Kong.

Sweda Uhren GmbH., Germany.

Swedatron (Canada) Ltd., Canada.

Swedatronic Electronics GmbH, Germany.

Wonderful Root Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

50114499

 

 

COMPANY FILE NUMBER 

 

1294974

 

MANAGEMENT

 

Managing Director:  Mr. So Wing Keung, Paul

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1,000.00

 

 

SHAREHOLDER  

(As per registry dated 17-12-2010)

 

Name

 

No. of shares

Promotion Blue Chip Standard S.L.

Plaza de la Pau, sin número, edificio 2, planta 1a, Módulo C, World Trade Center, Poligono Almeda Park, 08940 Cornellà de Llobregat (Barcelona), Spain.

 

1,000

====

 

 

DIRECTORS

(As per registry dated 17-12-2010)

 

Name

(Nationality)

 

Address

SO Wing Keung

Flat C, 22/F., Block 5, King’s Park Villa, 1 King’s Park Rise, Homantin, Kowloon, Hong Kong.

 

WONG Hoi

Flat A, 9/F., Parkford Garden, 6 Chi Fuk Circuit, Pak Fuk Tsuen, Fanling, New Territories, Hong Kong.

 

Ralph BIRKE

Finestrelles, 25 Esc. C la la 08950 Esplugues de LLobregat, Barcelona, Spain.

 

Arthur STRIJBOS

Torremirona Resort 17744 Navata, Spain.

 

 

SECRETARY

 

WONG Hoi  (As per registry dated 17-12-2010)

 

 

HISTORY

 

The subject was incorporated on 17th December, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Promotion Standard Hong Kong Ltd., name changed to the present style on 5th February, 2009.

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

 

 

OPERATIONS

 

Activities:                      Manufacturer and Exporter.

 

Lines:                           Auto-dialers, LCD watches, quartz analogue watches, clocks (general),

timers/stopwatches, electronic and consumable products.

 

Trade Marks:                 SWEDA, o.d.m., PSL, PSL Design, MTP, etc.

 

Office & Showroom Area:  13,000 sq.ft. in Hong Kong.

 

Employees:                   70.  (Including associates)

 

Raw Materials:               Imported from Japan, Korea, Taiwan, etc.

 

Markets:                       USA, Europe, Japan, China, etc.

 

Group Annual Turnover:  HK$500~550 million.

 

Terms/Sales:                 L/C, T/.

 

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$1,000.00

 

Mortgage or Charge:-

Date of  Charge Over Deposits (2-Party):  28-06-2010

Amount:            To secure all monies and liabilities

Property:           Time deposit account No. 773-734181

Mortgagee:        Hang Seng Bank Ltd., Hong Kong.

 

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:                         Hang Seng Bank Ltd., Hong Kong.

 

Standing:                      Normal.

 

 

GENERAL

 

Promotion Blue Chip Standard Hong Kong Ltd. is a wholly-owned subsidiary of Promotion Blue Chip Standard S.L. which is a Spain-based firm.

The subject is a leading manufacturer and exporter of watches, clocks and electronic consumer products.  It is specialized in manufacturing a wide range of watches, from simple analogue watch to complicated multi-functions digital and ana-digital watch for private label project.

The subject is a member of the Sweda Group [Sweda].  Sweda was established in 1978 with its headquarter in Hong Kong.  Sweda has plants located in Shenzhen Special Economic Zone and Dongguan City, Guangdong Province, China.  The Shenzhen plant is well equipped with advance injection-moulding machines, with its own film and silk-screen departments.

Sweda is specialized in all kinds of watches, clocks, promotional gifts products. etc.  The annual output is more than 1,400 types of clocks and watches.  It owns “SWEDA”, “PSL”, “MTP”, “Bugitron” and “o.d.m.” brands.  Most of the products are sold to the European Union and the US market.

Having made investments in the latest technology, Sweda is able to complete the production process in-house, saving costs in handling and transportation and greatly increasing efficiency.  Sweda has set up its own Research and Development [R&D] and Design Team.  The factories have a total workforce of 800 persons, including 70 R&D staff.

Sweda has been putting great emphasis on designing and developing innovative products for the Group.

The Group has got the ISO 9001 certificates for both of the manufacturing plants and the management system since 1994.  In 1996, Sweda got the “Certificate of Merit in Quality” in Hong Kong.

Sweda has a global coverage of the market network, more than 800 dealers established all around the world,  The annual turnover ranges from HK$500 to 550 million.

Sweda is currently the largest watch manufacturer and exporter in Shenzhen SEZ and has been conferred the title of “the most powerful gift suppliers of Shenzhen”.

Supported by the Sweda Group, the business of the subject is maintained in a satisfactory manner.

On the whole, in view of the background of the subject, consider it good for normal business engagements.

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.91

UK Pound

1

Rs.73.06

Euro

1

Rs.64.03

 

 

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.