MIRA INFORM REPORT

 

 

Report Date :           

04.02.2012

 

IDENTIFICATION DETAILS

 

Name :

TEWOO  (H.K.)  LTD.

 

 

Registered Office :

Room 1204, 12/F., Emperor Group Centre, 288 Hennessy Road, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

19.09.2008

 

 

Com. Reg. No.:

39821255

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Iron and steel, etc.

 

 

No. of Employees :

08

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

TEWOO  (H.K.)  LTD.

 

 

Company ADDRESS

 

Room 1204, 12/F., Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong Kong.

PHONE:            2877 0428

FAX:                 2877 0438

 

 

MANAGEMENT

 

Managing Director:  Mr. Chen Zhen

 

 

SUMMARY

 

Incorporated on:             19th September, 2008.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$30,000,000.00

Issued:              HK$30,000,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   8.

 

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

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Registered Head Office:-

Room 1204, 12/F., Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong Kong.

 

Holding Company:-

TEWOO Metals International Trade Co. Ltd., China.

 

Ultimate Holding Company:-

Tianjin Materials & Equipment Group Corporation, China.

 

Associated/Affiliated Companies:-

TEWOO Group of Companies

·         Laos Haohan Mining Co. Ltd., Laos.

·         Philippine Ray Sun Da Mining Group Corporation, Philippines.

·         Philippine TEWOO Linktone International Trade Co. Ltd., Philippines.

·         TEWOO (H.K.) International Logistics Co. Ltd., Hong Kong.

·         TEWOO Import & Export (HK) Ltd., Hong Kong.

·         TEWOO Metal (H.K.) Ltd., Hong Kong.

·         TEWOO Metals (Shanghai) Co. Ltd., China.

·         TEWOO Singapore Pte. Ltd., Singapore.

·         TEWOO USA Inc., USA.

·         Tianjin Fuhao Industrial Co. Ltd., China.

·         Tianjin Harvestone International Trade Co. Ltd., China.

·         Tianjin HopeRay Mineral Co. Ltd., China.

·         Tianjin Huawu Trade Co. Ltd., China.

·         Tianjin Linktone Co. Ltd., China.

·         Tianjin Material Distribution General Corporation, China.

etc.

 

 

BUSINESS REGISTRATION NUMBER 

 

39821255

 

 

COMPANY FILE NUMBER 

 

1274241

 

 

MANAGEMENT

 

Managing Director:  Mr. Chen Zhen

 

CAPITAL

 

Nominal Share Capital: HK$30,000,000.00 (Divided into 30,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$30,000,000.00

 

 

SHAREHOLDER  

(As per registry dated 19-09-2011)

 

Name

 

No. of shares

TEWOO Metals International Trade Co. Ltd.

Flat 410, Block B, 78 Haibin 6th Road, Harbour Bonded Zone, Tianjin, China.

 

30,000,000

========

 

 

DIRECTORS

(As per registry dated 19-09-2011)

 

Name

(Nationality)

 

Address

CHEN Zhen

Flat 607, 6/F., Block B, Causeway Centre, 28 Harbour Road, Wanchai, Hong Kong.

 

YANG Honglai

Room 101, 2nd Door, 8, Dingfajiayuan, Xiqing Road, Hongqiao District, Tianjin, China.

 

XU Guangzhi

1925-1927 No. 1, Jili Garden, Guiyang Road, Heping District, Tianjin, China.

 

 

SECRETARY

(As per registry dated 19-09-2011)

 

Name

Address

Co. No.

Gainful Secretaries Ltd.

Room 2017, 20/F., Fortone Commercial Building, 362 Sha Tsui Road, Tsuen Wan, New Territories, Hong Kong.

0460123

 

HISTORY

 

The subject was incorporated on 19th September, 2008 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:                      Importer, Exporter and Wholesaler.

           

Lines:                           Iron and steel, etc.

 

Employees:                   8.

 

Commodities Imported:   China, Europe, Russia, etc.

 

Markets:                       North America, Asian countries, Europe, etc.

 

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

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:               HK$30,000,000.00 (Divided into 30,000,000 shares of HK$1.00 each)

 

Issued Share Capital:                 HK$30,000,000.00

 

Alternation of Capital:-

Initially

paid up

HK$      3,000,000.00

28-09-2010

paid up

HK$      7,000,000.00

20-12-2010

paid up

HK$      20,000,000.00

 

 

––––––––––––––––

Total:

paid up

HK$      30,000,000.00

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

 

Increase of Nominal Capital:-

From

HK$10,000,000.00

to

HK$30,000,000.00

on

20-12-2010

 

Mortgage or Charge (since March 2011):-

Date of  Trade Finance Security Assignment:  01-03-2011

Amount:            All obligations and liabilities

Property:           The Borrower as beneficial owner and as security for the payment of all Secured Liabilities

Mortgagee:                    Cooperatieve Centrale Raiffeisen - Boerenleenbank B.A. [trading as Rabobank

International, Hong Kong Branch.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

           

Commercial Morality:  Satisfactory.

 

Bankers:-

·         Bank of China (Hong Kong) Ltd., Hong Kong.

·         Cooperatieve Centrale Raiffeisen - Boerenleenbank B.A. [trading as Rabobank International], Hong Kong Branch.

 

Standing:  Normal.

 

 

GENERAL

 

TEWOO (H.K.) Ltd. is a wholly-owned subsidiary of TEWOO Metals International Trade Co. Ltd. [TEWOO] which is a China-based firm.  The ultimate holding company Tianjin Materials & Equipment Group Corporation [TMEGC] which is also a China-based firm.  The subject is trading in the products of TEWOO.

TEWOO is a professional logistics enterprise engaged in the national and international transaction on metals and the related products.  TEWOO was established on 18th May, 2006 by the integration of TEWOO Group’s three companies in the metal business – Tianjin Metal Material Company, Tianjin Xiantong Material & Trade Co. Ltd. and Tianjin Hopetone Co. Ltd. – with a registered capital of RMB200 million Yuan.  TEWOO focuses on the international trade and logistic distribution of metal materials, minerals, charging material s and metal products.

TEWOO has 12 direct sales centres, 18 domestic branches, 2 overseas companies and more than 200 secondary sales outlets.  TEWOO has already develop long-term business ties with almost 30 domestic famous enterprises such as Angang Steel, Shougang Steel, Hebei Iron & Steel Group, Shandong Iron & Steel Group, Baogang Steel, etc.

In 2009, TEWOO’s sales volume amounted to 11.38 million tons in domestic market and 1 million in the international market.  Its products include steel, iron ore and coal.  The market network has covered over 10 domestic provinces of China, and over 19 overseas countries and districts such as Korea, India, Vietnam, the Middle East, Africa, the United States and Brazil.

TMEGC (former Bureau of Materials), founded in 1993, is a large scale state–owned material circulating enterprise with a register capital of RMB2.46 billion Yuan.  Its total assets amount to RMB24.7 billion Yuan with a net worth of RMB53.1 billion Yuan.  Up to now, TMEGC has 242 companies with total staff of 5,151.  In 2010, the total sales income of TMEGC reached RMB150 billion Yuan while its total profit was RMB530 million Yuan.

The Group is a general trading company trading in metals, energy, minerals, chemical materials, automobile and electromechanical field, cotton textiles, wood and building materials, logistics and real estate.

The subject is fully supported by TEWOO.

On the whole, consider the subject good for normal business engagements.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.96

UK Pound

1

Rs.77.47

Euro

1

Rs.64.39

 

 

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.