MIRA INFORM REPORT

 

 

Report Date :           

28.01.2012

 

IDENTIFICATION DETAILS

 

Name :

BETAFAC  INDUSTRIES  LTD.

 

 

Formerly Known As :

Endcliffe Ltd.

 

 

Registered Office :

Level 11, Tower 1, Metroplaza, 223 Hing Fong Road, Kwai Fong, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

30.05.1989

 

 

Com. Reg. No.:

12804288

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of shoes.

 

 

No. of Employees :

06

 

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

 

BETAFAC  INDUSTRIES  LTD.

 

 

Company ADDRESS

 

Level 11, Tower 1, Metroplaza, 223 Hing Fong Road, Kwai Fong, New Territories, Hong Kong.

PHONE:            2956 1619,  2956 0188

FAX:                 2956 2321

E-MAIL:            queenie@betafac.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Ho Tsz Chun

 

 

SUMMARY

 

Incorporated on:             30th May, 1989.

                                     

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$200.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   6.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Level 11, Tower 1, Metroplaza, 223 Hing Fong Road, Kwai Fong, New Territories, Hong Kong.

 

Associated Company:-

Betafac Industries Ltd. Putian Representative Office

Room 443, New Century Square, Pacific Centre, Licheng Road, Chengxiang District, Putian, Fujian Province, China.

[Tel: 86-0594-2696127]

 

 

BUSINESS REGISTRATION NUMBER

 

12804288

 

 

COMPANY FILE NUMBER

 

0253798

 

 

MANAGEMENT

 

Managing Director:         Mr. Ho Tsz Chun

Contact Person:             Ms. Queenie Chan

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 1,000 shares of HK$10.00 each)

 

Issued Share Capital:     HK$200.00

 

 

SHAREHOLDERS

(As per registry dated 30-05-2011)

 

Name

 

No. of shares

Venlo 88 Ltd., Hong Kong.

 

8

Viana 88 Ltd., Hong Kong.

 

7

HO Tsz Chun

 

5

 

 

––

 

Total:

20

==

 

 

DIRECTORS  

(As per registry dated 10-09-2011)

 

Name

(Nationality)

 

Address

HO Tsz Chun

1/F., 62 Hong Ning Road, Kwun Tong, Kowloon, Hong Kong.

 

LUI Chi Ming, George

Flat C, 5/F., Tower 5, Parc Royale, 8 Hin Tai Street, Tai Wai, Shatin, New Territories, Hong Kong.

 

CHAU Kai Man

Flat D, 30/F., Tower 2, Anglers’ Bay, 18A Castle Peak Road, Sham Tseng, New Territories, Hong Kong.

 

 

SECRETARY

(As per registry dated 30-05-2011)

 

Name

Address

Co. No.

ICR Secretaries Ltd.

Suite 905, 9/F., Centre Point, 181-185 Gloucester Road, Wanchai, Hong Kong.

1023762

 

 

HISTORY

 

The subject was incorporated on 30th May, 1989 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Endcliffe Ltd., name changed to the present style on 13th February, 1990.

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

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of shoes.

 

Employees:                   6.

 

Commodities Imported:   China, etc.

 

Markets:                       India, Southeast Asia, Europe, North America, etc.

 

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

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital: HK$10,000.00 (Divided into 1,000 shares of HK$10.00 each)

 

Issued Share Capital:     HK$200.00

 

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.

 

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

 

Standing:                      Normal.

 

 

GENERAL

 

Having issued 20 ordinary shares of HK$10.00 each, Betafac Industries Ltd. is jointly owned by Venlo 88 Ltd., holding 40% interests; Viana 88 Ltd., holding 35%; and Mr. Ho Tsz Chun, 25%.  The former two are Hong Kong-registered nominee firms while the third is a Hong Kong merchant.  The subject has three directors while Ho is one of them.

The subject is trading in all kinds of shoes.  Main customers are Wal-Mark, Playless, etc.  It carries the following trade marks at present: “Daniel Green”, “Woolrich”, “Rocket Dog”, etc.  Most of the commodities are sourced from China.

The subject has set up a representative office in Putian, Fujian Province, China.  This firm is responsible for sourcing footwear from the suppliers in Fujian Province, China.  The contact person of the subject Ms. Queenie Chan is an employee of the subject.

The history of the subject in Hong Kong is over twenty-two years and seven months.  Business is active and steady.

On the whole, in view of the background and history of the subject, consider it good for normal business engagements.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.65

UK Pound

1

Rs.77.80

Euro

1

Rs.65.05

 

 

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.