MIRA INFORM REPORT

 

 

Report Date :           

05.10.2011

 

IDENTIFICATION DETAILS

 

Name :

WELLSIDE  (HONG  KONG)  LTD.

 

 

Registered Office :

Room 301, 3/F., Kerry Godown (Sheung Shui), 2 San Po Street, Sheung Shui, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

18.02.2006

 

 

Com. Reg. No.:

36458019

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Electronic products, computers, electronic consumables and medical equipments, etc.

 

 

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 :

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

 

WELLSIDE  (HONG  KONG)  LTD.

 

 

company ADDRESS

 

Room 301, 3/F., Kerry Godown (Sheung Shui), 2 San Po Street, Sheung Shui, New Territories, Hong Kong.

PHONE:            2668 9188,  2668 9183

FAX:                 2668 9819

 

 

MANAGEMENT

 

Managing Director:  Mr. Zhang Chunhua

 

 

SUMMARY

 

Incorporated on:             18th February, 2006.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$1.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   4.

 

Main Dealing Banker:     Nanyang Commercial Bank Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 301, 3/F., Kerry Godown (Sheung Shui), 2 San Po Street, Sheung Shui, New Territories, Hong Kong.

 

Shenzhen Storage:-

East 5/F., Shenye Logistic Warehouse, 10 Qingshuihe 4th Road, Luohu District, Shenzhen SEZ, China.

[Tel: 86-755-8241 2960;  Fax: 86-755-8241 2970]

 

Associated Company:-

China Brilliant Supply Chain Service Co. Ltd.

Room 2008-2012, 20/F., Trade Center, 4028 Jintian Road, Futian District, Shenzhen Special Economic Zone, China.

[Tel:      86-755-8278 9555

Fax:      86-755-8278 9710

Sales:   86-755-8278 9727

E-mail:  sales@cbscs.com ]

 

 

BUSINESS REGISTRATION NUMBER

 

36458019

 

 

COMPANY FILE NUMBER

 

1024993

 

 

MANAGEMENT

 

Managing Director:  Mr. Zhang Chunhua

 

 

CAPITAL

 

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

 

Issued Share Capital:     HK$1.00

 

SHAREHOLDER

(As per registry dated 18-02-2011)

 

Name

 

No. of share

ZHANG Chunhua

 

1

=

 

 

DIRECTOR

(As per registry dated 18-02-2011)

 

Name

(Nationality)

 

Address

ZHANG Chunhua

Room 603, Block 4, 29 Xinsiu Road, Luohu District, Shenzhen Special Economic Zone, China.

 

 

SECRETARY 

(As per registry dated 18-02-2011)

 

Name

Address

Co. No.

Jennings Ltd.

Room 406, 4/F., Hua Qin International Building, 340 Queen’s Road Central, Hong Kong.

0371903

 

 

HISTORY

 

The subject was incorporated on 18th February, 2006 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:                           Electronic products, computers, electronic consumables and medical equipments, etc.

 

Employees:                   4.

 

Commodities Imported:   China, other Asian countries, Europe, US, etc.

 

Markets:                       China, other Asian countries, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

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

 

Issued Share Capital:                             HK$1.00

 

Mortgage or Charge (since 2011):            (See attachment)

 

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.

           

Bankers:-

·         Nanyang Commercial Bank Ltd., Hong Kong.

·         China Construction Bank Corporation, Hong Kong Branch.

 

Standing:  Normal.

 

 

GENERAL

Having issued 1 ordinary share of HK$1.00, Wellside (Hong Kong) Ltd. is wholly owned by Mr. Zhang Chunhua who is China businessman.  He is a China passport holder and does not have the right to reside in Hong Kong permanently.

Zhang is also the director of China Brilliant Supply Chain Service Co. Ltd. [China Brilliant] which is a Shenzhen-based firm.  The subject is an associate of China Brilliant.

China Brilliant is one of the first Chinese companies geared with international standards of providing supply chain services.  It provides clients with creative and customized services.  Its aim is to increase its customers’ profitability through better supply chain solutions, and transform supply chain services to a source of competitive advantage.

China Brilliant has had experts in the fields of supply chain management, trade, finance, information technology, law, etc.

China Brilliant also provides clients with supply chain solutions of Customs clearance of cargoes.  It is also engaged in transporting management, warehousing, distribution, payment settling, information management, etc.

The services of China Brilliant are broad and extensive, which are related with the industries of communication, network, computer components, electronic consumables and medical equipments.

Besides, China Brilliant  has robust experience in the export and import of equipment and a unique competitive advantage both in general trade import and duty-free equipment import.  With such advantages, China Brilliant provides its clients with strong support in the technical fields.

Since the foundation of China Brilliant, it has been developing long-term relation with its customers.

China Brilliant has set up a large warehouse in Shenzhen SEZ.  The following firms are the suppliers of China Brilliant: Samsung, Yamaha, Fuji, Juki, AMADA, Panasonic, HASS, Taylor Hobson, ASM, Sumitomo, etc.

The following firms are some of the clients of China Brilliant: Foxconn, aigo, Fuji Xerox, Valeo, Kong Profit, Hisense, Lexmark, Changhong, FEREX, ACT, ZTE, K.STAR, HuntKey, MTC, etc.

The subject is fully supported by China Brilliant:  History in Hong Kong is over five years and seven months.

On the whole, consider the subject good for normal business engagements.

MORTGAGE OR CHARGE

 

(Since 2011)

 

Date

Particulars

Amount

20-05-2011

Instrument:      Assignment

Property:

All the rights, title, interest, benefits and entitlement in and to the Contracts

Mortgagee:      China Construction Bank Corporation, Hong Kong Branch.

To secure all of the obligations

22-07-2011

Instrument:      Charge on Deposits

Property:

All the fixed deposit and/or all call deposit of whatever nature and in whatever currency now or at any time hereafter maintained or to be maintained by the Company with Nanyang Commercial Bank Ltd. under Signature No. 002 Customer No. 043-0837817-2

Mortgagee:      Nanyang Commercial Bank Ltd., Hong Kong.

To secure the payment of all moneys, obligations and liabilities

22-07-2011

Instrument:      Charge on Deposits

Property:

Deposit Balance placed or to be placed with Nanyang Commercial Bank Ltd. under the account No. 043-484-0-005855-9

Mortgagee:      Nanyang Commercial Bank Ltd., Hong Kong.

To secure the payment of all moneys, obligations and liabilities

22-07-2011

Instrument:      Charge on Deposits

Property:

Deposit Balance placed or to be placed with Nanyang Commercial Bank Ltd. under the account No. 043-484-9-204441-6

Mortgagee:      Nanyang Commercial Bank Ltd., Hong Kong.

To secure the payment of all moneys, obligations and liabilities

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.23

UK Pound

1

Rs.76.07

Euro

1

Rs.65.06

 

 

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.