MIRA INFORM REPORT

 

 

Report Date :           

04.10.2011

 

IDENTIFICATION DETAILS

 

Name :

SOFTLIFE MATTRESS MACHINERY CO.  LTD.

 

 

Registered Office :

Room A, 7/F., Hai Kok Mansion, 3-9 Whitefield Road, Causeway Bay

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

09.09.2005

 

 

Com. Reg. No.:

36017055

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Machinery Trader of Foam machinery, mattress machinery and mattress semi-products, 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 :

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

 

SOFTLIFE  MATTRESS  MACHINERY  CO.  LTD.

 

 

Company ADDRESS

 

Room A, 7/F., Hai Kok Mansion, 3-9 Whitefield Road, Causeway Bay, Hong Kong.

PHONE:            Not Available

FAX:                 Not Available

 

 

MANAGEMENT

 

Managing Director:  Mr. Kuang Jinbiao

 

SUMMARY

 

Incorporated on:             9th September, 2005.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$100.00

 

Business Category:        Machinery Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Registered Head Office:-

Room A, 7/F., Hai Kok Mansion, 3-9 Whitefield Road, Causeway Bay, Hong Kong.

 

Associated Factory:-

Taishan Softlife Mattress Machinery Co. Ltd.

No. 8, Road 3, Changlong Industrial Estate, Sijiu Town, Taishan City, Guangdong Province, China.

[Tel:      86-750-5489338

Fax:      86-750-5489118

Email:   softlife@softlife.com.cn]

 

 

BUSINESS REGISTRATION NUMBER 

 

36017055

 

 

COMPANY FILE NUMBER

 

0994844

 

 

MANAGEMENT

 

Managing Director:  Mr. Kuang Jinbiao

 

 

CAPITAL

 

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

 

Issued Share Capital:     HK$100.00

 

 

SHAREHOLDERS

(As per registry dated 09-09-2011)

 

Name

 

No. of shares

KUANG Jinbiao

 

60

HUANG Wenguang

 

40

 

 

–––

 

Total:

100

===

 

 

DIRECTORS

(As per registry dated 09-09-2011)

 

Name

(Nationality)

 

Address

KUANG Jinbiao

Flat 1005, 10/F., Jinhan Garret, No. 612 Tianhebei Road, Guangzhou, China.

 

HUANG Wenguang

Flat 1005, 10/F., Jinhan Garret, No. 612 Tianhebei Road, Guangzhou, China.

 

 

SECRETARY

(As per registry dated 09-09-2011)

 

Name

Address

CHAI Shing Yuen

Room A, 7/F., Hai Kok Mansion, 3-9 Whitefield Road, Causeway Bay, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 9th September, 2005 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:                      Machinery Trader.

 

Lines:                           Foam machinery, mattress machinery and mattress semi-products, etc.

 

Employees:                   Nil.

 

Commodities Imported:   China, Other Asian countries, etc.

 

Markets:                       Southeast Asia, Middle East, Europe, South America, Africa, 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$100.00

 

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 100 ordinary shares of HK$1.00 each, Softlife Mattress Machinery Co. Ltd. is jointly owned by Mr. Kuang Jinbiao, holding 60% interests; Mr. Huang Wenguang, holding 40%.  Kuang and Huang are also directors of the subject.  Being China passport holders, they do not have the right to reside in Hong Kong permanently.  Currently, they are residing in Guangzhou, Guangdong Province, China.

The subject has no employees in Hong Kong.

The subject does not have its own operating office.  Its registered office is in a residential building located at Room A, 7/F., Hai Kok Mansion, 3‑9 Whitefield Road, Causeway Bay, Hong Kong where is the residence of its individual secretary Mr. Chai Shing Yuen.  He is a Hongkongnese.

The subject has got an associated company Taishan Softlife Mattress Machinery Co. Ltd. [Softlife] in Taishan, Guangdong Province, China.

Your given phone and fax number belong to Softlife.

Softlife is a professional company for foam machinery, mattress machinery and mattress semi products.  Located in Taishan City, Guangdong Province, China, Softlife occupies an area 42,000 m2 and is employing about 100 persons.  The contact person of Softlife is Kuang Jinbiao.

The followings are the main products of Softlife:

1.       Pocket Spring Machinery Series

2.       Foam Machinery Series

3.       Mattress Machinery Series

4.       Pocket Spring Inner

5.       Member Centre

Besides marketing in China, Softlife’s products are mainly exported to Southeast Asia, the Middle East, Europe, South America, Africa, etc.  Raw materials are imported from India and other Asian countries.  Business is normal.

The subject’s business is chiefly handled by Mr. Chai Shing Yuen.

Since the subject’s registered office is in a residential building and does not have any employees, consider it good for business engagements on secured basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.42

UK Pound

1

Rs.76.72

Euro

1

Rs.65.85

 

 

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.