MIRA INFORM REPORT

 

 

Report Date :

05.10.2011

 

IDENTIFICATION DETAILS

 

Name :

BROTHERS  INVESTMENT  (HONGKONG)  LTD.

 

 

Registered Office :

C/o World Trade Enterprises Consultancy Ltd.

Room 2105, 21/F., JQD455, Trend Centre, 29-31 Cheung Lee Street, Chai Wan

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

17.04.2008

 

 

Com. Reg. No.:

39181209

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of sweeteners, building materials, tractors, etc.

 

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 :

Small Company

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

 

BROTHERS  INVESTMENT  (HONGKONG)  LTD.

 

Address:          

c/o World Trade Enterprises Consultancy Ltd.

Room 2105, 21/F., JQD455, Trend Centre,

29-31 Cheung Lee Street, Chai Wan,

Hong Kong.

 

(Formerly located at:

c/o World Trade Enterprises Consultancy Ltd.

Room 907, 9/F., JQD455, Wing Tuck Commercial Centre,

117-183 Wing Lok Street, Sheung Wan, Hong Kong.        )

 

PHONE:            Not available

 

FAX:                 Not available

 

 

MANAGEMENT

 

Managing Director:  Mr. Xiong Chunming

 

 

SUMMARY

 

Incorporated on:             17th April, 2008.

 

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:           Satisfactory.

ADDRESS

 

Registered Head Office:-

c/o World Trade Enterprises Consultancy Ltd.

Room 2105, 21/F., JQD455, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong.

 

Associated Companies:-

Brothers Biotech Co. Ltd., China.

Qingdao Ever-Lasting Farm Machinery Co. Ltd., China.

Qingdao Ever-Lasting Import & Export Co. Ltd., China.

All are located at:

Room 417, International Trade Plaza, 51 Taiping Road, 266001 Qingdao City, Shandong Province, China.

[Tel: 86-532-8297 1985;  Fax: 86-532-8297 1987]

 

 

BUSINESS REGISTRATION NUMBER

 

39181209

 

 

COMPANY FILE NUMBER 

 

1228049

 

 

MANAGEMENT

 

Managing Director:  Mr. Xiong Chunming

 

 

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

 

 

SHAREHOLDERS

(As per registry dated 17-04-2011)

 

Name

 

No. of shares

XIONG Chunming

 

6,000

LIU Yan

 

4,000

 

 

––––––

 

Total:

10,000

=====

 

 

DIRECTOR    

(As per registry dated 17-04-2011)

 

Name

(Nationality)

 

Address

XIONG Chunming

Room 2105, 21/F., JQD455, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong.

 

 

SECRETARY 

(As per registry dated 17-04-2011)

 

Name

Address

Co. No.

World Trade Enterprises Consultancy Ltd.

15/F., Highgrade Building, 117 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.

1156560

 

 

HISTORY

 

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

Formerly the subject’s registered address was located at Room 907, 9/F., JQD455, Wing Tuck Commercial Centre, 117-183 Wing Lok Street, Sheung Wan, Hong Kong, moved to Room 2105, 21/F., JQD455, Trend Centre, 29‑31 Cheung Lee Street, Chai Wan, Hong Kong in March 2011.  The former is the new address of a commercial service provider World Trade Enterprises Consultancy Ltd. [WTEC].  The reference number of the subject in WTEC is JQD455.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of sweeteners, building materials, tractors, etc.

 

Employees:                   Nil.

 

Commodities Imported:   China, etc.

 

Markets:                       North America, South America, Eastern Europe, Western Europe, Southeast Asia, Eastern Asia, Africa, Oceania, Middle East, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, 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

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not 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:                      Small.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Brothers Investment (Hongkong) Ltd. is jointly owned by two China merchants, namely, Mr. Xiong Chunming, holding 60% interests; and Ms. Liu Yan, holding 40%.  Xiong is also director of the subject.  Currently Liu and Xiong are residing in Qingdao City, Shandong Province, China.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 2105, 21/F., JQD455, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong known as World Trade Enterprises Consultancy Ltd. [WTEC] which is handling its correspondences and documents.  WTEC, having several branch companies in Hong Kong, is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

To our knowledge, Xiong is also the operator of Qingdao Ever-Lasting Import & Export Co. Ltd. [Ever-Lasting] which is in Qingdao City, Shandong Province, China.

Ever-Lasting has two tractor factories and two agricultural equipment production lines.  Its main products are as follows: trucks, buses, light cars, tractors, farm implanters, automobile fittings, solar products and food.  Most of the products bear the brand name of “EVER-LASTING”.  It exports its products to North America, England, France, the Netherlands, Germany, Mexico, Hong Kong, Japan, Korea, Algeria, Morocco, Mali, Tunis, Egypt and other countries and regions.

Founded in 2005, Ever-Lasting has set up many departments such as import & export department, purchasing department, finance & accounting department, quality controlled department, department of transportation and after-sales service department.  The contact person of Ever-Lasting is Xiong Chunming.

The subject has had another associated company Brothers Biotech Co. Ltd. [Brothers Biotech] which is also in Qingdao City, Shandong Province, China.  Brothers Biotech is engaged in manufacturing Isomaltitol, xylitol, Maltitol, erythritol, xylose, Isomalt, Xylitol DC, Isomalt DC, sodium saccharin, sweetener, aspartame, acesulfame k, Isomaltitol DC, Xylitol powder, xylitol crystal, etc.  Most of the products are exported to foreign countries.  The contact person of Brothers Biotech is Liu Yan.

In China, Ever-Lasting and Brothers Biotech share the same operating office which is in Qingdao City, Shandong Province, China.

It is likely that the two China firms deal with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  The China firms also export 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 active.  History in Hong Kong is over three years and six months.

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.49.08

UK Pound

1

Rs.78.65

Euro

1

Rs.67.79

 

 

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%)

 

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