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Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
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Name : |
FUGUINIAO GROUP LTD. |
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Registered Office : |
Room 1002, 10/F., Harbour Crystal Centre, |
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Country : |
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Date of Incorporation : |
09.04.2001 |
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Com. Reg. No.: |
31776860 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of leather shoes. |
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No. of Employees : |
7 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
FUGUINIAO GROUP
LTD.
ADDRESS: Room 1002, 10/F., Harbour Crystal Centre,
100 Granville Road, Tsim Sha Tsui, Kowloon, Hong Kong.
PHONE: 3152 2366
FAX: 3152 2360
Managing Director: Mr. Lam Wo
Ping
Incorporated on: 9th
April, 2001.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
7.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 1002, 10/F., Harbour Crystal Centre, 100 Granville Road,
Tsim Sha Tsui, Kowloon, Hong Kong.
China Factory:-
Fulin Building, Changfu Industrial District, Shishi City, Fujian
Province, China.
Associated Companies:-
Fuguiniao Group of Companies
Fujian Shishi Fuguiniao Apparel Development Co. Ltd., China.
Fujian Shishi Fuguiniao Garment Co. Ltd., China.
Fujian Shishi Fuguiniao Shoe Development Co. Ltd., China.
Fujian Shishi Fulin Shoes Co. Ltd., China.
etc.
31776860
0753387
Managing Director: Mr. Lam Wo
Ping
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 09-04-2012)
|
Name |
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No. of shares |
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LAM Wo Ping |
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3,250 |
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LAM Kwok Keung |
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2,250 |
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LAM Wing Ho |
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2,250 |
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LAM Wo Sze |
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2,250 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 09-04-2012)
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Name (Nationality) |
Address |
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LAM Kwok Keung |
Flat A, 18/F., Block 2, Majestic Park, 11 Farm Road, Tokwawan,
Kowloon, Hong Kong. |
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LAM Wo Sze |
Flat A, 18/F., Block 2, Majestic Park, 11 Farm Road, Tokwawan, Kowloon,
Hong Kong. |
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LAM Wo Ping |
Flat A, 18/F., Block 2, Majestic Park, 11 Farm Road, Tokwawan,
Kowloon, Hong Kong. |
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LAM Wing Ho |
Flat A, 18/F., Block 2, Majestic Park, 11 Farm Road, Tokwawan,
Kowloon, Hong Kong. |
(As per registry dated 09-04-2012)
|
Name |
Address |
Co. No. |
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LAM Wing Ho |
Flat A, 18/F., Block 2, Majestic Park, 11 Farm Road, Tokwawan,
Kowloon, Hong Kong. |
- |
|
Skywalk Consultants Ltd. |
Unit N, 17/F., Phase 2, Goldfield Building, 144‑150 Tai Lin
Pai Road, Kwai Chung, New Territories, Hong Kong. |
0715904 |
The subject was incorporated on 9th April, 2001 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.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of leather shoes.
Trade Mark: FUGUINIAO
Employees: 7.
Materials/Commodities: Imports raw materials from Europe, Asian
countries and finished products from China.
Markets: Europe,
Southeast Asia, Russia, US, Australia, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit & Loss: Group made profits in the past years.
Condition: Keeping
in an active state.
Facilities: Adequate
for current running.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
Bank of
China (Hong Kong) Ltd., Hong Kong.
Standing:
Good.
Having issued 10,000 ordinary shares of HK$1.00 each, Fuguiniao Group Ltd.
is jointly owned by Mr. Lam Wo Ping, Mr. Lam Kwok Keung, Mr. Lam Wing
Ho and Mr. Lam Wo Sze. They are holding
stake 32.5%, 22.5%, 22.5% and also 22.5% respectively. Being Hong Kong merchants, all of them are
also the Directors of the subject.
The subject is the holding company of the Fuguiniao Group of which main
company is Fuguiniao Shoe Development Co. Ltd. [FSDCL], a China-based
firm. FSDCL was established in
1984. The other main member of the Group
is Shishi Fulin Shoes Co. Ltd. [Fulin] which is also in Shishi City.
The main products of the Group are leather shoes. The production base of the Group is located
at Changfu Industrial District, Shishi City, Fujian Province, China.
Now, the Group’s factory covers an area of 240,000 sq.m. and is employing
about 5,000 workers. The factory has
been equipped with 75 production lines.
Of the total workers, 400 are engaged in the R&D Department. The Group is able to produce over 20,000
types of new shoes annually.
Bearing the brand name of “FUGUINIAO”, products include men’s and
women’s leather shoes and casual shoes ranging from high-end to middle‑end. According to the Group, 65% are ladies’ shoes
while 35%, men’s shoes. There are about
3,000 shops retailing the Group’s shoes in China. 50% of the shoes are sold in China and 50%
are exported to Russia, the European Union, the United State, etc.
“Fuguiniao” products have been conferred the titles of “High
Grade Products Approved by the Ministry of Agriculture”, “National Customer
Satisfied Products”, and “King of Real Leather Shoes in China” for four
consecutive times. In January 1999, “FUGUINIAO”
brand was approved as “China’s Famous Brand” by the State Trademark Bureau.
Besides “FUGUINIAO”, the Group owns other brand names such as “ZHU BU”,
“MOLINA” and “ENALENA”.
The annual production capacity of the Group is about 5 million pairs of
shoes.
In the years ahead, some the Group’s shoes will be designed by Italian
designers so that its products can penetrate the international market
further. Currently, the Group has got a
new factory under construction. With a
total investment of over RMB400 million Yuan, the new factory will be equipped
with 16 production lines imported from Italy.
When the new factory is put into production, more workers will be recruited
and the Group’s production capacity will further increase.
The fixed assets of the Group amount to RMB2 billion Yuan. Annual sales turnover is very significant.
New branch shops have been set up in Sichuan and Shenzhen Special
Economic Zone, China.
In February 2011, Forbes Magazine ranked Lam Wo Ping as the 232nd in the
400 Richest Chinese. According to the
Magazine, the net worth of Lam amounted to US$160 million.
The Group has grown into a famous shoe manufacturing enterprise with
great renown.
The subject is fully supported by the Lam family.
On the whole, in view of the subject’s background, consider it good for
normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.36 |
|
|
1 |
Rs.85.64 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
-- |
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.