MIRA INFORM REPORT

 

 

Report Date :           

22.09.2011

 

IDENTIFICATION DETAILS

 

Name :

FONG’S NATIONAL DYEING & FINISHING MACHINERY (MACAO COMMERCIAL OFFSHORE) CO LTD

 

 

Registered Office :

Unit G 12 Andar Edf China Plaza, Avenida Da Praia Grande 762-804

 

 

Country :

Macau

 

 

Date of Incorporation :

12.04.2005

 

 

Com. Reg. No.:

SO20958 

 

 

Legal Form :

Private Company With Limited Liability

 

 

Line of Business :

General Trading

 

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 :

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)

Macau

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address 

 

FONG’S NATIONAL DYEING & FINISHING MACHINERY (MACAO COMMERCIAL OFFSHORE) CO LTD

UNIT G 12 ANDAR EDF CHINA PLAZA

AVENIDA DA PRAIA GRANDE 762-804, MACAO.

TEL: 853-28715941            FAX: N/A

 

 

EXECUTIVE SUMMARY

 

INCORPORATION DATE            : APR. 12, 2005

REGISTRATION NO.                  : SO20958 

LEGAL FORM                           : PRIVATE COMPANY WITH LIMITED LIABILITY

CHIEF EXECUTIVE                    : MR. SHEUNG-WAI LEUNG (DIRECTOR)

STAFF STRENGTH                    : 4

PAID-UP CAPITAL                     : MOP 100,000

BUSINESS LINE                        : TRADER

TURNOVER                              : N/A (AS OF DEC. 31, 2009)

EQUITIES                                 : N/A (AS OF DEC. 31, 2009)

PAYMENT                                : FAIR

RECOMM. CREDIT RANGE       : SMALL AMOUNT

MARKET CONDITION                : AVERAGE

FINANCIAL CONDITION             : N/A

OPERATIONAL TREND  : FAIRLY STEADY

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                     : MOP 8.00874 = US$1

 

 

Adopted abbreviations

 

ANS - amount not stated           

NS - not stated 

SC - subject company (the company inquired by you)

NA - not available          

M - million        

MOP –Macau Pataca

 

 

 

Rounded Rectangle: HISTORY

 

 

 


Name in Local Language : 方氏立信染整機械(澳門離岸商業服務)有限公司

 

Trading Name / DBA: FONG'S NATIONAL MAQUINAS DE TINTURARIA E ACABAMENTOS (COMERCIAL OFFSHORE DE MACAU) LTDA

 

*CAPITAL (Currency: MOP - Macau Patacas)

=================================

Authorized Capital: 100,000

Paid-up Capital: 100,000

 

*OFFICE & FACILITIES* 

====================

Name : FONG’S NATIONAL DYEING & FINISHING MACHINERY (MACAO COMMERCIAL OFFSHORE) CO LTD - MACAU

Address : Unit G 12 Andar EDF China Plaza Avenida Da Praia Grande 762-804, Macau

Country : Macao

Status : Operational

 

*REPUTATION*

=============

Reference checking for the purpose of establishing the FONG’S NATIONAL DYEING & FINISHING MACHINERY (MACAO COMMERCIAL OFFSHORE) CO LTD's reputation within the respective industry failed to reveal any adverse information. 

 

Rounded Rectangle: WEB SITE 

 

 

 


SC is not known to host website of its own at present.

 

 

Rounded Rectangle: LITIGATION 

 

 


For the past two years there is no record of litigation.

 

 

Rounded Rectangle: OWNERSHIP/MANAGEMENT BACKGROUND 

 

 


*Major Shareholders*

================

Total number of shareholders: 1

Total number of shares: 100,000


 

Shareholders                             Country                         Amount (MOP)              %

FONG'S MANUFACTURERS      Virgin Islands (British)    100,000                         100.00 

CO LTD 

 

 

Rounded Rectangle: MANAGEMENT 

 

 


*COMPANY DIRECTOR*

=====================

1    

Name : Mr. Sheung-wai Leung

Nationality : Macanese

 

2    

Name : Mr. Sou-lam Fong

Nationality : Macanese

 

3    

Name : Mr. Wai-yung Wan

Nationality : Macanese

 

 

Rounded Rectangle: BUSINESS OPERATIONS 

 

 


*CORE BUSINESS DESCRIPTION* 

===========================

Core Business

------------------

The primary business focus of FONG’S NATIONAL DYEING & FINISHING MACHINERY (MACAO COMMERCIAL OFFSHORE) CO LTD is:

·General trading - Finished products

 

*Primary Products*

===============

Activity Products / Materials / Services Description

----------  ----------------------------------------------------

Trading Textile machinery 

 

*PAYMENT TERMS* 

=================

Selling

--------

Type     Terms

Local    Cash on delivery (COD) 

Credit - Secured with Post-dated checks 30~60 days 


 

Purchasing

-------------

Type     Terms

Local    Cash on delivery (COD) 

Credit - Secured with Post-dated checks 30~60 days 

 

*DOMESTIC SALES & PURCHASES* 

=============================

Annual Sales Analysis               Percentage

---------------------------                     -------------

Domestic Sales                         100%

International Sales (Export)         0%

 

Annual Purchases Analysis        Percentage

---------------------------                     -------------

Local Purchases                        100%

Imports                                     0%

 

 

Rounded Rectangle: RELATED COMPANIES 

 

 


Direct Parent : FONG'S MANUFACTURERS CO LTD

Country : Virgin Islands (British)

 

Indirect Parent : FONG'S INDUSTRIES CO LTD

Country : Hong Kong

 

 

Rounded Rectangle: PAYMENT HISTORY 

 

 

 


PAYMENT RATING       : 4                OBTAINED SCORES         : 48

Rating Key

Implication

Implications

1

Scores 85–100

Excellent

2

Scores 75 – 84

Above Average

3

Scores 50 – 74

Average

4

Scores 35 – 49

Fair

5

Scores 15 – 34

Below Average

6

Scores 01 – 14

Poor

NR

No Data

No Data

The rating indicates the payment pattern of SC based upon our Payment Database, comments from suppliers of SC, information from banks (if available), as well as industrial sources.

 

Dealings on open terms may be possible for SMALL amounts depending on individual judgement experience.

 

 

 

Rounded Rectangle: FINANCIAL HIGHLIGHTS 

 

 


Based on the corporate laws of Macao, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

 

Rounded Rectangle: REMARKS 

 

 


Due to lack of financial statements, we are unable to determine the maximum credit limit for SC.

SC is considered small-sized in its line with an acceptable base to come into credit dealings of small amount.

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY 

Activity             Code    Product/Service Description

Trading 3569     General industrial machinery and equipment, and parts,

Trading 3500     Industrial Machinery & Equipment

Trading 3552     Textile machines, and parts and attachments,

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY 

Activity             Code                Product/Service Description

Trading 8479                 Machines etc having individual functions, parts

Trading 9810005000       Textile machine or machinery or parts solely for the instruction of students


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.89

UK Pound

1

Rs.75.31

Euro

1

Rs.65.64

 

 

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

 

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.