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MIRA
INFORM REPORT
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Report Date : |
07.02.2012 |
IDENTIFICATION DETAILS
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Name : |
PROFIT GAIN (HK) INVESTMENT LTD |
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Formerly Known As : |
PROFIT ADDED CO. LTD |
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Registered Office : |
Room 2320,
23/F., Tower B, Regent Centre, 70 Ta Chuen Ping Street, Kwai Chung, New
Territories, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.09.2004 |
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Com. Reg. No.: |
34999007 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of all kinds of auto-parts and car
paints |
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No. of Employees : |
7.(Including
associate) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
PROFIT GAIN (HK)
INVESTMENT LTD.
company ADDRESS
Room 2320, 23/F.,
Tower B, Regent Centre, 70 Ta Chuen Ping Street, Kwai Chung, New
Territories, Hong Kong.
PHONE: 2415 9144
FAX: 3005 7849, 3005 7859
E-MAIL: info@profitadded.com
MANAGEMENT
Managing
Director: Mr. Young Chun Yan, Tyler
SUMMARY
Incorporated on : 3rd
September, 2004.
Organization : Private Limited Company.
Capital : Nominal: HK$10,000.00
Issued :
HK$1.00
Business Category :
Auto-Part and Component Trader.
Employees : 7.(Including associate)
Main Dealing Banker: Bank of Communications Co.
Ltd., Hong Kong Branch.
Banking Relation : Satisfactory.
Company name
PROFIT
GAIN (HK) INVESTMENT LTD.
Company ADDRESS
Registered Office:-
c/o Unipoint
Consultants & Secretaries Ltd.
Room 705, 7/F.,
China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong.
Head Office:-
Room 2320, 23/F.,
Tower B, Regent Centre, 70 Ta Chuen Ping Street, Kwai Chung, New Territories,
Hong Kong.
Warehouse:-
G/F., Bank
Building, 33 Tai Loong Street, Kwai Chung, New Territories,
Hong Kong.
China Office:-
Room 609, Jin Hui
Ge, 100 Le Tao Jie, Ji Chang Xi Lu, 510403 Guangzhou, Guangdong Province,
China.
Tel: (86-20) 8601 4031
Fax: (86-20) 8601 4091
E-mail: lsq@profitadded.com]
Sister/Associated
Companies:-
CP Auto Parts
Ltd., Hong Kong. [Deregistration]
Power Profit
Trading Co. Ltd., Hong Kong. (Same
address)
Profit Added Co.
Ltd., British Virgin Islands.
Raft Motors
(China) Ltd., Hong Kong. [Dissolved]
BUSINESS REGISTRATION NUMBER
34999007
COMPANY FILE NUMBER
0920902
MANAGEMENT
Managing
Director: Mr. Young Chun Yan, Tyler
Director
& Contact Person: Ms. Hui Kwai Mei
Sales
Manager: Ms. Sin Yuk Ping, Iris
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 03-09-2011)
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Name |
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No.
of share |
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YOUNG Chun Yan, Tyler |
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1 = |
DIRECTORS
(As per registry dated 03-09-2011)
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Name (Nationality) |
Address |
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YOUNG Chun Yan,
Tyler |
Unit 20, 23/F., Tower B, Regent Centre, 70
Ta Chuen Ping Street, Kwai Chung, New Territories, Hong Kong. |
|
HUI Kwai Mei |
Unit 20, 23/F., Tower B, Regent Centre, 70
Ta Chuen Ping Street, Kwai Chung, New Territories, Hong Kong. |
SECRETARY
(As per registry dated 03-09-2011)
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Name |
Address |
Co.
No. |
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Unipoint
Consultants & Secretaries Ltd. |
Room 705, 7/F., China Insurance Group Building, 141 Des Voeux Road
Central, Hong Kong. |
0125166 |
HISTORY
The
subject was incorporated on 3rd September, 2004 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally
the subject was registered under the name of Step Million International Ltd.,
name changed to Zhan Li Parts Ltd. on 12th November, 2005; changed to Profit
Added Co. Ltd. on 16th January, 2006; and further to the present style on 9th
July, 2009.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities : Importer and Exporter.
Lines : All kinds of auto-parts and car paints.
Employees : 7. (Including associate)
Commodities Imported : Imported from Europe, Japan, etc.
Markets : China, Hong Kong, Macau, other Asian countries, etc.
Terms/Sales : 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
Profit or Loss : Making a small profit every year.
Condition : Business is active and normal.
Facilities : Making active use of general banking facilities.
Payment : Met trade commitments as required.
Commercial Morality : Satisfactory.
Banker : Bank of Communications Co. Ltd., Hong Kong Branch.
Standing : Normal.
GENERAL
Having
issued 1 ordinary share of HK$1.00, Profit Gain (HK) Investment Ltd. is wholly
owned by Mr. Tyler Young Chun Yan. The
directors of the subject are Mr. Tyler Young Chun Yan and Ms. Hui Kwai
Mei. Young and Hui is a couple. Hui is also the contact person of the
subject.
Formerly
known as Profit Added Co. Ltd., the subject adopted the present style in July
2009.
The
subject has got a sister company located at its operating address known as
Power Profit Trading Co. Ltd. [PPT]. It
also had an associated company Raft Motors (China) Ltd. [Raft] located at its
operating address. The former is a Hong
Kong-registered firm while the latter was dissolved by deregistration on 11th
March, 2011.
Having
issued 18,000 ordinary shares of HK$1.00 each, Raft was equally owned by Young
and Hui. Raft had traded in spare parts
and components of commercial vehicles in the territories of China, Hong Kong
and Macau. Its major customers included
Coca Cola Hong Kong, Kowloon Motor Bus (1933) Ltd. and Macau Public Bus
Company. At that time, Raft had its own
distribution network in China. It
distributed its products by its outlets in Shenzhen SEZ, Dongguan, Guangzhou,
Chengdu, Kunming, Beijing and Shenyang.
Since 2003, its sales and payments got from customers had become
unstable. Subsequently, it closed all
outlets and changed its mode of business to become a distributor and
wholesaler. In 2003, Raft started first
equipment business in China. Before
deregistration, Raft had sold products worth at more than €9 million to
Sinotruk Hong Kong Ltd. which is a Hong Kong-listed company bearing Stock
No. 03808. On 11th March, 2011, Raft was
formally dissolved by deregistration.
Now, its business has been taken over by the subject.
The
subject and its sister company PPT are also trading in spare parts and
components of commercial vehicles. The
subject is responsible for businesses outside Hong Kong while PPT is
responsible for businesses in Hong Kong.
The
subject imports commodities into China and exports from China. The subject has had partners in Europe and
the United States. According to the
subject, it has had 80 distributors in Western and Eastern Europe. In Italy only, the subject has had 250 direct
customers. In Taiwan, it has had 4 main
customers in Taipei and Kaohsiong. In
South Korea, it has had 2 customers in Seoul.
It also has got a number of customers in Singapore, Malaysia and
Thailand. In 2003, the subject started
supplying to vehicle makers, including Sinotruk Hong Kong Ltd., Zhengzhou
Yutong Group Co. Ltd. and Hanz Axle Co. Ltd.
Its TVS friction materials and products are marketed by Shanghai Tongzhi
Industry Co. Ltd. in the after-market of China.
In
recent years, the subject has been trading in the following commodities:-
·
Shock absorbers for commercial vehicles
·
Air springs for autos, rail vehicles, engineering
vibration isolation and rubber anti-vibration products
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Brake automatic slack adjuster
·
Friction material, brake linings and pads
The
subject has set up an office in Guangzhou, Guangdong Province, China in order
to penetrate the China market further.
The contact person of the Guangzhou Office is Mr. Liu Shao Qian who is a
Chinese.
The
business of the subject is active.
History in Hong Kong is over seven years and five months.
The
subject has had an associated company CP Auto Parts Ltd., a
Hong Kong-registered firm, is under deregistration.
The
Sales Manager of the subject Ms. Iris Sin is an employee of the subject.
On
the whole, consider the subject good for normal business engagements in
moderate credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.67 |
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|
1 |
Rs.76.75 |
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Euro |
1 |
Rs.63.56 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not recommended |
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NB |
New Business |
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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.