MIRA INFORM REPORT

 

 

Report Date :

05.10.2011

 

IDENTIFICATION DETAILS

 

Name :

WING  FUNG  INTERNATIONAL  LTD.

 

 

Registered Office :

15B, Granville House, 41C Granville Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

03.12.2003

 

 

Com. Reg. No.:

34125404

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Frozen rabbit meat, other kinds of frozen meat, 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 and address

 

WING  FUNG  INTERNATIONAL  LTD.

 

 

ADDRESS:       15B, Granville House, 41C Granville Road, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:            9616 0494

 

FAX:                 2330 4466

 

E-MAIL:            goldenglory2004@hotmail.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Mariasusai Andrews

 

 

SUMMARY

 

Incorporated on:             3rd December, 2003.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$100.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   3.

 

Main Dealing Banker:     Chong Hing Bank Ltd., Hong Kong.

 

Banking Relation:            Satisfactory.

ADDRESS

 

.Registered Head Office:-

15B, Granville House, 41C Granville Road, Tsimshatsui, Kowloon, Hong Kong

 

 

BUSINESS REGISTRATION NUMBER

 

34125404

 

 

COMPANY FILE NUMBER

 

0873551

 

 

MANAGEMENT

 

Managing Director:  Mr. Mariasusai Andrews

 

 

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 03-12-2010)

 

Name

 

No. of shares

LO Ying Wan

 

1

CHUNG Yiu Hon, Kenneth

 

1

Mariasusai ANDREWS

 

98

 

 

–––

 

Total:

100

===

 

 

DIRECTORS

(As per registry dated 03-12-2010)

 

Name

(Nationality)

 

Address

Alterin Jeffrey ANDREWS

Room 117, 6/F., Hing Bank Building, 117-119 Wuhu Street, Hunghom, Kowloon, Hong Kong.

 

Mariasusai ANDREWS

Room 117, 6/F., Hing Bank Building, 117-119 Wuhu Street, Hunghom, Kowloon, Hong Kong.

 

 

SECRETARY

 

Alterin Jeffrey ANDREWS  (As per registry dated 03-12-2010)

 

 

HISTORY

 

The subject was incorporated on 3rd December, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject changed its major shareholder to Mariasusai Andrews on 22nd March, 2010.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Frozen rabbit meat, other kinds of frozen meat, etc.

 

Employees:                   3

 

Commodities Imported:   India, Europe, US, etc.

 

Markets:                       China, Hong Kong, Japan, Europe, etc.

 

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$100.00

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                       Met trade commitments as required.

 

Commercial Morality:      Satisfactory.

 

Banker:                         Chong Hing Bank Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 100 ordinary shares of HK$1.00 each, Wing Fung International Ltd. is chiefly owned by Mr. Mariasusai Andrews who is holding 98% interests.  The other two minor shareholders are Mr. Lo Ying Wan and Mr. Chung Yiu Hon, Kenneth, while each of them holds a single share.

Mariasusai Andrews acquired his 98% share from Mr. Chung Sze Hin on 22nd March, 2010.

The subject is trading in the following commodities: frozen rabbit meat, chicken, pork, beef, other kinds of frozen meat, etc.  Commodities are chiefly imported from India, Europe, the United States, etc.  Prime markets are China, Hong Kong, Japan, Europe, the United States, etc.  Business is normal.

According to the subject, the volume of frozen rabbit meat carried is over 2,000 metric tons yearly.  The prime markets of frozen rabbit meat are Japan and Europe.  Overall business is satisfactory.

The subject is chiefly owned by the Andrews family who have been in Hong Kong for a very long time.

The history of the subject in Hong Kong is about eight years.

On the whole, consider it good for normal business engagements in moderate credit amounts.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.22

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.