MIRA INFORM REPORT

 

 

Report Date :           

22.02.2012

 

IDENTIFICATION DETAILS

 

Name :

MEGA  DRAGON  (CHINA)  LTD.

 

 

Registered Office :

c/o Orion House Services (HK) Ltd., Room 1401, 14/F., World Commerce Centre, Harbour City, 7‑11 Canton Road, Tsimshatsui, Kowloon,

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

02.05.2008

 

 

Com. Reg. No.:

39356767

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Manufacturer of all kinds of dyestuff

 

 

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 – 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

 

MEGA  DRAGON  (CHINA)  LTD.

 

 

Company ADDRESS

 

c/o Orion House Services (HK) Ltd.

Room 1401, 14/F., World Commerce Centre, Harbour City, 7-11 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2736 7372

FAX:                 2736 8895

 

 

MANAGEMENT

 

Managing Director:  Mr. Zhu Hai Gen

 

 

SUMMARY

 

Incorporated on:             2nd May, 2008.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$20,000,000.00

Issued:              HK$20,000,000.00

 

Business Category:        Importer, Exporter and Manufacturer.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

c/o Orion House Services (HK) Ltd.

Room 1401, 14/F., World Commerce Centre, Harbour City, 7‑11 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

 

Associated Companies:-

·         Shangyu Tianhai Trading Co. Ltd., China.

·         Shaoxing Tianhai Dyestuff & Chemical Co. Ltd., China.

·         Zhejiang Shunlong Chemical Co. Ltd., China.

 

 

BUSINESS REGISTRATION NUMBER

 

39356767

 

COMPANY FILE NUMBER

 

1233616

 

 

MANAGEMENT

 

Managing Director:  Mr. Zhu Hai Gen

 

 

CAPITAL

 

Nominal Share Capital: HK$20,000,000.00 (Divided into 20,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$20,000,000.00

 

 

SHAREHOLDERS

(As per registry dated 02-05-2011)

 

Name

 

No. of shares

ZHU Hai Gen

 

14,000,000

LIANG Wen Juan

 

3,500,000

CHEN I Huang

 

2,500,000

 

 

–––––––––

 

Total:

20,000,000

========

 

 

DIRECTORS  

(As per registry dated 02-05-2011)

 

Name

(Nationality)

 

Address

ZHU Hai Gen

No. 27 Villa, Renhe Garden, 1001 Renmin Xi Road, Cao’e Street, Shangyu City, Zhejiang Province, China.

 

LIANG Wen Juan

No. 27 Villa, Renhe Garden, 1001 Renmin Xi Road, Cao’e Street, Shangyu City, Zhejiang Province, China.

 

CAO Wei Wei

Room 201, 14 Jiangyang Road, Baiguan Street, Shangyu City, Zhejiang Province, China.

 

GAO Jian Wen

Room 202, Building 10, East of Wo Ling Villa Baiguan Street, Shangyu City, Zhejiang Province, China

 

ZHENG Ying

Room 1401, No. 16, Lane 561, Guang Ling Si Road, Hongkou District, Shanghai, China.

 

CHEN Di

1/F. - 2/F., 9 Wenyi Road, Gongshu District, Hangzhou City, Zhejiang Province, China.

 

 

SECRETARY

(As per registry dated 02-05-2011)

 

Name

Address

Co. No.

Orion House Secretarial Ltd.

Room 1401, 14/F., World Commerce Centre, Harbour City, 7-11 Canton Road, Tsimshatsui, Hong Kong.

1296458

 

 

HISTORY

 

The subject was incorporated on 2nd May, 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 Manufacturer.

 

Lines:                           All kinds of dyestuff.

 

Employees:                   Nil.

 

Raw Materials:               Imported from China, other Asian countries, etc.

 

Markets:                       China, India, other Asian countries, Europe, etc.

 

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

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital: HK$20,000,000.00 (Divided into 20,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$20,000,000.00

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 20 million ordinary shares of HK$1.00 each, Mega Dragon (China) Ltd. is jointly owned by Mr. Zhu Hai Gen, holding 70.0% interests; Ms. Liang Wen Juan, holding 17.5%; and Ms. Chen I Huang, 12.5%.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 1401, 14/F., World Commerce Centre, Harbour City, 7-11 Canton Road, Tsimshatsui, Hong Kong known as Orion House Services (HK) Ltd. which is handling its correspondences and documents.  This firm is an associated company of Orion House Secretarial Ltd. which is the corporate secretary of the subject.

The subject has no employees in Hong Kong.

The subject has had an associated company in China known as Zhejiang Shunlong Chemical Co. Ltd. [Shunlong] which is engaged in producing all kinds of dyestuffs.  Your given phone number 86-0575-8272 2017 belongs to Shunlong.

Established in 1997, Shunlong has had about 300 workers while about 80 of them are engineers.  Its total assets amount to RMB800 million Yuan.  Its products include the followings: facozol series, AEH series, M series, K series, KN series, APS series, etc.  Bearing the brand name of “Shunlong”, its products are marketed in China, exported to the other Asian countries, Europe, etc.  Business is rather active.  Annual sales turnover is over RMB100 million Yuan.  The annual production capacity of Shunlong is about 20,000 tonnes.  It got ISO 9001:2000 and ISO 14001 certifications in October 2003.  The legal representative of Shunlong is Zhu Hai Gen.

In China, Ms. Liang Wen Juan is operating another dyestuff trading firm known as Shaoxing Tianhai Dyestuff & Chemical Co. Ltd.

It is also likely that the China firms deal with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  The China firms also export commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active.  History in Hong Kong is over three years and nine months.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.08

UK Pound

1

Rs.77.79

Euro

1

Rs.65.17

 

 

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.