MIRA INFORM REPORT

 

 

Report Date :

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

HENGLI  MACHINERY  (HONG  KONG)  CO.  LTD.

 

 

Formerly Known As :

Heng Li Machinery Co. Ltd

 

 

Registered Office :

c/o Well Honest Consultants Ltd., Room 1601, 16/F., Manley Commercial Building, 367-375 Queen’s Road Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

02.04.2003

 

 

Com. Reg. No.:

33530412

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer & Exporter of Machinery and equipment for woven plastic bags, etc.

 

 

No. of Employees :

Not Available 

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

HENGLI  MACHINERY  (HONG  KONG)  CO.  LTD.

 

 

Company ADDRESS

 

c/o Well Honest Consultants Ltd.

Room 1601, 16/F., Manley Commercial Building, 367-375 Queen’s Road Central, Hong Kong.

PHONE:            2815 5338

FAX:                 2545 9298

 

 

MANAGEMENT

 

Managing Director:  Mr. Qiu Zhongheng

 

 

SUMMARY

 

Incorporated on:             2nd April, 2003.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$300,000.00

Issued:              HK$120,000.00

 

Business Category:        Machinery Trader.

 

Employees:                   Nil.

 

Main Dealing Bankers:   Hang Seng Bank Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

c/o Well Honest Consultants Ltd.

Room 1601, 16/F., Manley Commercial Building, 367-375 Queen’s Road Central, Hong Kong.

 

Associated Company:-

Changzhou Hengli Machinery Co. Ltd.

201 Tai Shan Road, 213022 Changzhou City, Jiangsu Province, China.

[Tel:      86-519-85110024, 85119388, 85118015, 85129152, 85118059

Fax:      86-519-85115931, 85118029

E-mail:  sale2@hlmach.com ]

 

 

BUSINESS REGISTRATION NUMBER

 

33530412

 

 

COMPANY FILE NUMBER

 

0844680

 

 

MANAGEMENT

 

Managing Director:  Mr. Qiu Zhongheng

 

 

CAPITAL

 

Nominal Share Capital:   HK$300,000.00 (Divided into 300,000 shares of HK$1.00 each)

Issued Share Capital:     HK$120,000.00

 

 

SHAREHOLDERS

(As per registry dated 02-04-2012)

 

Name

 

No. of shares

QIU Zhongheng

 

84,000

FUNG Kam Mun

 

12,000

YU Yaoming

 

12,000

QIU Zhongyi

 

12,000

 

 

–––––––

 

Total:

120,000

======

 

DIRECTORS

(As per registry dated 02-04-2012)

 

Name

(Nationality)

 

Address

QIU Zhongyi

No. 150-7, New-Built Zhang Village, Yonghong Countryside, Changzhou, Jiangsu, China.

 

QIU Zhongheng

C15 Jiang Nan Luxury Garden, Changzhou, Jiangsu, China.

 

 

SECRETARY 

(As per registry dated 02-04-2012)

 

Name

Address

CHEUNG Chi Ching

Flat 1301, 13/F., Wang Mei House, Tin Wang Court, Chuk Yuen, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 2nd April, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.

 

Originally the subject was registered under the name of Heng Li Machinery Co. Ltd. name changed to the present style on 4th July, 2003.

 

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

 

 

OPERATIONS

 

Activities:                      Importer & Exporter.

 

Lines:                           Machinery and equipment for woven plastic bags, etc.

 

Employees:                   Nil.

 

Commodities Imported:   China, etc.

 

Markets:                       North America, Africa, Middle East, Europe, China and Southeast Asia, etc.

 

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

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$300,000.00 (Divided into 300,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$120,000.00

 

Profit or Loss:                Traded at a balance angle.

 

Condition:                      Kept in an ordinary manner.

 

Facilities:                      Is making use of general banking facilities.

 

Payment:                      Properly met.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Hang Seng Bank Ltd., Hong Kong.

 

Standing:                      Average.

 

 

GENERAL

 

Hengli Machinery (Hong Kong) Co. Ltd. [HMHK] was incorporated in Hong Kong as a private limited liability company.  With an issued capital of HK$120,000.00, the company is jointly owned by a group of China merchants known as Mr. Qiu Zhongheng (70%), Mr. Fung Kam Mun (10%), Mr. Yu Yaoming (10%), and Mr. Qiu Zhongyi (10%).

HMHK has none of direct office in Hong Kong.  Its registered office is located at Room 1601, 16/F., Manley Commercial Building, 367-375 Queen’s Road Central, Hong Kong which is the same office of a secretarial and management firm known as Well Honest Consultants Ltd. [WHCL].

Staff from WHCL informed us that HMHK was one of their customers.  They only provide registered office and correspondence services to HMHK.

HMHK has no employees in Hong Kong.

 

We understand that the major shareholder of HMHK, Mr. Qiu Zhongheng is the Legal Representative of Changzhou Hengli Machinery Co. Ltd. [CHMCL] with details as follow:-

 

Name:                                       CHMCL;

Address:                                    No.201 Tai Shan Road, Changzhou City, Jiangsu Province, China;

Phone:                                      86-519-85119388;

Fax:                                           86-519-85115931;

Email:                                       sale2@hlmach.com ;

Date of Establishment:               1989;

Legal Representative:                 Mr. Qiu Zhongheng

Nature of Business:                    Manufacturer of machinery;

Number of Employees:               200;

Annual Turnover:                         Over RMB¥100 million;

Monthly Production Capacity:     200 sets;

Factory Space:                          18,000 sq.m.;

Markets:                                   North America, Africa, Middle East, Europe, China & Southeast Asia, etc.

CHMCL is a global supplier of standard and custom-engineered products and systems serving the complete range of machinery for woven plastic bags, as well as plastic extruding flat film stretching machines, plastic extruding coating machines, plastic circular bag conversion machines, plastic circular bag cutting machines, plastic circular looms, etc.

All the products bear the brand name “HENGLI”.  CHMCL has about 200 employees.  Factory area covers about 18,000 sq.m.  Annual sales turnover is over RMB100 million Yuan.  Business is kept in a normal condition.

Products are marketed in China or exported to North America, Africa, Middle East, Europe and Southeast Asia, etc.

HMHK was set up in Hong Kong and is regarded as an offshore company.  It is only dealing as a supporting office for its China factory and is only responsible for the financing, accounting, sourcing and shipping activities.  It has none of operating office and employees in Hong Kong.  No business activities have been found.

We consider the company good for its normal business engagements on secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.78

UK Pound

1

Rs.86.75

Euro

1

Rs.68.32

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.