MIRA INFORM REPORT

 

 

Report Date :

15.09.2011

 

IDENTIFICATION DETAILS

 

Name :

MODENA  TECHNOLOGY  (HONG  KONG)  LTD.

 

 

Registered Office :

C/o Group Motion Secretarial & Consulting Ltd.

Room C, 2/F., Wing Tat Commercial Building, 121-125 Wing Lok Street, Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

17.06.2009

 

 

Com. Reg. No.:

50795239

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer and Exporter of all kinds of ceramic machinery and equipment, 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 :

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 – 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 

 

MODENA  TECHNOLOGY  (HONG  KONG)  LTD.

 

 

company ADDRESS

 

c/o Group Motion Secretarial & Consulting Ltd.

Room C, 2/F., Wing Tat Commercial Building, 121-125 Wing Lok Street, Central, Hong Kong.

PHONE:            2544 5465,  2496 0803

FAX:                 2815 2528

E-MAIL:                        info@modena.com.cn

 

 

MANAGEMENT

 

Managing Director:  Mr. Chan Ki Wood, Benjamin

 

 

SUMMARY

 

Incorporated on:             17th June, 2009.

 

Organization:                  Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$1.00

 

Business Category:        Machinery Manufacturer and Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     DBS Bank (Hong Kong) Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

company ADDRESS

 

Registered Head Office:-

c/o Group Motion Secretarial & Consulting Ltd.

Room C, 2/F., Wing Tat Commercial Building, 121-125 Wing Lok Street, Central, Hong Kong.

 

Overseas Representative Offices: 

Spain, India, Vietnam and Mexico.

 

Holding Company:-

Foshan City Modena Machinery Co. Ltd.

Sanhuanxi Industrial District, Xiaotang Town, Foshan City, Guangdong Province, China.

[Tel: 86-757-8663 1888;  Fax: 86-757-8663 1777]

 

Ultimate Holding Company:-

Modena Machinery (International) Ltd., Hong Kong.  (Same address)

 

Affiliated Companies:-

Modena Holdings Ltd., Hong Kong.  (Same address)

Modena Impianti Ceramics S.r.l., Italy.

P.T. Anugerah Alam Abadi, Indonesia.

Pooya Sanat Navid Yazd, Iran.

 

 

BUSINESS REGISTRATION NUMBER

 

50795239

 

 

COMPANY FILE NUMBER

 

1346126

 

 

MANAGEMENT

 

Managing Director:  Mr. Chan Ki Wood, Benjamin

 

 

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 17-06-2010)

 

Name

 

No. of share

Foshan City Modena Machinery Co. Ltd.

Sanhuanxi, Industrial District, Shishan Town, Foshan City, Guangdong Province, China.

 

1

=

 

 

DIRECTOR    

(As per registry dated 17-06-2010)

 

Name

(Nationality)

 

Address

CHAN Ki Wood, Benjamin

Room C, 2/F., Wing Tat Commercial Building, 121-125 Wing Lok Street, Central, Hong Kong.

 

 

SECRETARY

(As per registry dated 17-06-2010)

 

Name

Address

Co. No.

Group Motion Secretarial & Consulting Ltd.

Room C, 2/F., Wing Tat Commercial Building, 121-125 Wing Lok Street, Central, Hong Kong.

1271722

 

 

HISTORY

 

The subject was incorporated on 17th June, 2009 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:                      Manufacturer and Exporter.

 

Lines:                           All kinds of ceramic machinery and equipment, etc.

 

Employees:                   Nil.

 

Materials/Commodities:  Imports raw materials from European countries, some Asian countries and finished products from China.

 

Markets:                       China, other Asian countries, Italy, other European countries, etc.

 

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

 

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$1.00

 

Mortgage or Charge:-

Date of  Charge on Cash Deposit to secure Liabilities of the Depositor:
14-04-2010

Amount:            All sums of money and liabilities

Property:           1)         By way of first fixed charge and agreement to charge: the Deposit and all right, title and interest of the Company

2)         By way of set-off: any sum standing to the credit of any one or more of the accounts of the Company with the Bank

Mortgagee:                    DBS Bank (Hong Kong) Ltd., Hong Kong.

 

Profit or Loss:                Too early to offer an opinion.

 

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:     Too early to comment.

 

Banker:                         DBS Bank (Hong Kong) Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Modena Technology (Hong Kong) Ltd. is wholly-owned by Foshan City Modena Machinery Co. Ltd. [Foshan Modena] which is a China-based firm.  The subject has just issued one ordinary share of HK$1.00 which is owned by Foshan Modena.  Mr. Benjamin Chan Ki Wood is the only director of the subject.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room C, 2/F., Wing Tat Commercial Building, 121-125 Wing Lok Street, Central, Hong Kong known as Group Motion Secretarial & Consulting Ltd. [Group Motion] which is handling its correspondences and documents.  Group Motion is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

Foshan Modena is a subsidiary company of Modena Machinery (International) Ltd. [Modena] which is a Sino-Italian joint venture.

With a registered capital of US$1.08 million, Foshan Modena is Modena’s R&D and manufacturing centre which is based in Foshan City, Guangdong Province China where is the world’s ceramic tile industry centre.  Modena has supplied various kinds of machinery and equipment as well as complete plants to over 200 customers all over the world.  Its service is claimed to be “available round the clock”.

Modena’s R&D and manufacturing centre occupy an area of 40,000 sq.m., in which the workshops take more than 30,000 sq.m.  Currently, Foshan Modena has about 300 employees, 80% of which have more than 10 years experience in famous ceramic machinery companies both in China and abroad.  Its staff members are claimed to be experienced in various fields such as management, engineering design, production and manufacturing, marketing and sales as well as technical service.

Foshan Modena has supplied machinery and solutions to the ceramic factories, covering the products of tile, tableware and sanitary ware, in 24 countries including China, the United States, India, Vietnam, Thailand, Egypt, Malaysia, Pakistan, Angola, Argentina, Columbia, Mexico, etc.

Main products of Foshan Modena are ceramic production equipment; furnace product line; glass production equipment; tableware production equipment, etc.  Products include belt conveyor, vibrating sieve, spray dryer, etc.

The factory has been equipped with the latest European technology.

Over the past years, Foshan Modena has got the following awards or honours:-

Top 10 Creative Brand Enterprise (awarded by Ceramics China in Year 2005)

ISO 9001 certification

Most Influential Energy-Efficient Kiln Enterprise (awarded by Ceramics China in Year 2009)

Credit Honour Enterprise (awarded by Foshan City Bank Association in Year 2006)

etc.

Mr. Benjamin Chan Ki Wood, is the legal representative of Foshan Modena.

The annual sales turnover of Foshan Modena ranges from RMB35 to 40 million.

It is likely that Foshan Modena deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  Foshan Modena also exports 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.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.81

UK Pound

1

Rs.75.16

Euro

1

Rs.65.11

 

 

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.