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Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
WILLIAM
CHAN TRADING CO.
LTD. |
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|
|
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Registered Office : |
Flat E1, 4/F., Phase1, Hang Fung Industrial Building, 2G Hok Yuen Street, Hung Hom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.01.1978 |
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Com. Reg. No.: |
05506394 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of a kinds of Bar Code
Labels, Printed Products, etc |
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No. of Employees : |
15 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
Hong Kong - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
|
Source
: CIA |
WILLIAM CHAN TRADING CO. LTD.
Flat E1, 4/F., Phase1, Hang Fung Industrial Building, 2G Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.
PHONE: 2333 0609, 2362 3860
FAX: 2764 0481
E-MAIL: wct@wctlabel.com
Managing Director: Mr. Chan Tai Wai, David
Incorporated on: 24th January, 1978.
Organization: Private Limited Company.
Capital: Nominal: HK$400,000.00
Issued: HK$4,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$30-35 million.
Employees: 15.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Flat E1, 4/F., Phase1, Hang Fung Industrial Building, 2G Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.
Associated
Company:-
WCT Printing Co. Ltd., Hong Kong. (Dissolved)
05506394
0058125
Managing Director: Mr. Chan Tai Wai, David
Nominal Share Capital: HK$400,000.00 (Divided into 4,000 shares of HK$100.00 each)
Issued Share Capital: HK$4,000.00
(As per registry
dated 24-01-2012)
|
Name |
|
No. of shares |
|
CHAN Tai Wai, David |
|
2,090 |
|
CHAN Chui Chui |
|
1,910 |
|
|
|
––––– |
|
|
Total: |
4,000 ===== |
(As per registry
dated 24-01-2012)
|
Name (Nationality) |
Address |
|
CHAN Kai King |
Flat G, 17/F., 4 Shun Yung Street, Hunghom, Kowloon, Hong Kong. |
|
LEUNG Pui Fong |
Flat G, 17/F., 4 Shun Yung Street, Hunghom, Kowloon, Hong Kong. |
|
CHAN Tai Wai, David |
Room A, 19/F., Cypress Garden, 3 Homantin Hill Road, Homantin, Kowloon, Hong Kong. |
(As per registry
dated 24-01-2012)
|
Name |
Address |
|
CHAN Chui Chui, Amy |
Flat C, 2/F., Block 1, Site 2, Whampoa Garden, Hunghom, Kowloon, Hong Kong. |
The subject was incorporated on 24th January, 1978 as a private limited liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of William Chan Trading Co., Ltd., name changed to the present style on 24th January, 2000.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of Bar Code Labels, Printed Products, etc.
Brand Names: CAS, HALLO, MOTEX, SATO.
Employees: 15.
Commodities Imported: Taiwan, other Asian countries, etc.
Markets: Central & South America, Eastern Europe, Hong Kong, Japan, Korea, Other Asian
Countries, Scandinavia, Taiwan, etc.
Annual Turnover: HK$30-35 million.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, O/A, etc.
Nominal Share Capital: HK$400,000.00 (Divided into 4,000 shares of HK$100.00 each)
Issued Share Capital: HK$4,000.00
Mortgage or Charge:-
Date of Pledge of Time Deposits or Goods: 14-06-1995
Amount: To secure the repayment of all money
Property: The sum of HK$500,000 is presently represented or evidenced by Confirmation of
Deposit under A/C No. 135-30-02732-9 of Deposit No. 0001 dated 14-06-1995
Mortgagee: The Bank of East Asia Ltd., Hong Kong.
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: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Having issued 4,000 ordinary shares of HK$100.00 each, William Chan Trading Co. Ltd. is jointly owned by Mr. Chan Tai Wai, David, holding 52.25% interests; Ms. Chan Chui Chui, holding 47.75%.
According to the subject, its predecessor was founded in 1969. It has established itself as a reputable label suppliers in the market. Its customers include most of the large supermarket chains, department stores, pharmacists, air lines, telecom companies, hospitals, various government departments, etc. It is constantly introducing modern machinery and developing new techniques in order to keep pace with the ever changing and demanding market so that the price of its products remain competitive.
The subject is able to offer customers with the following services
or products:-
· Bar Code Printers & Ribbons;
Electronic
Scales & Labels;
Price
Labels & Labels;
Custom
Printed Labels;
Laser,
Inkjet, Copier Labels; &
Labels
Applicators.
etc.
Most of its products bear the following trade marks: CAS, HALLO, MOTEX, SATO, etc.
The subject also exports its products to Central & South America, Eastern Europe, Japan, South Korea, Scandinavia, Taiwan, the other Asian countries, etc. Business is rather active.
The subject has got ISO 9001 certification.
The subject had an associated company WCT Printing Co. Ltd. located at its operating address. However, this firm was dissolved by deregistration on 8th January, 2010.
The annual sales turnover of the subject ranges from HK$30 to 35 million. Making a small profit every year.
As the history of the subject is over 34 years in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.65 |
|
UK Pound |
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.69.84 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.