MIRA INFORM REPORT

 

 

Report Date :

19.06.2012

 

IDENTIFICATION DETAILS

 

Name :

GOLD  FIELD  ENTERPRISES  (H.K.)  CO.  LTD.

 

 

Registered Office :

Room 905, 9/F., Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

28.12.1995

 

 

Com. Reg. No.:

19516713

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Chemical materials, underwear, packaging products, food additives, etc.

 

 

No. of Employees :

7

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 and address

 

GOLD  FIELD  ENTERPRISES  (H.K.)  CO.  LTD.

 

 

ADDRESS:       Room 905, 9/F., Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan, Hong Kong.

 

PHONE:            2512 9332

 

FAX:                 2512 2932

 

E-MAIL:                        gfenthk@netvigator.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Chan Kam Chung

 

 

SUMMARY

 

Incorporated on:             28th December, 1995.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Annual Turnover:            HK$85~100 million.

 

Employees:                   7.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Registered Head Office:-

Room 905, 9/F., Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan, Hong Kong.

 

China Office:  Quanzhou, Fujian Province, China.

 

Associated Companies:-

Green Fresh (Fujian) Foodstuff Co. Ltd., China.

Greenwich (China) Technology Development Ltd., China.

Lubao (Quanzhou) Biochemistry Co. Ltd., China.

Quanzhou Keen Field Enterprises Co. Ltd., China.

 

 

BUSINESS REGISTRATION NUMBER 

 

19516713

 

 

COMPANY FILE NUMBER 

 

0534754

 

 

MANAGEMENT

 

Managing Director:  Mr. Chan Kam Chung

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10,000.00

 

 

SHAREHOLDERS

(As per registry dated 28-12-2011)

 

Name

 

No. of shares

CHAN Kam Chung

 

5,000

CHAN Shui Yip

 

5,000

 

 

––––––

 

Total:

10,000

=====

 

 

DIRECTORS

(As per registry dated 28-12-2011)

 

Name

(Nationality)

 

Address

CHAN Shui Yip

Room 905, 9/F., Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan, Hong Kong.

 

CHAN Kam Chung

Room 1908, 19/F., Block 32, Heng Fa Chuen, Chai Wan, Hong Kong.

 

 

SECRETARY

 

CHAN Kam Chung  (As per registry dated 28-12-2011)

 

 

HISTORY

 

The subject was incorporated on 28th December, 1995 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:                           Chemical materials, underwear, packaging products, food additives, etc.

 

Employees:                   7.

 

Commodities Imported:   Bought from Japan, Korea, Thailand and Germany, etc.

 

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

 

Annual Turnover:            HK$85~100 million.

 

Terms/Sales:                 T/T, L/C or COD.

 

Terms/Buying:               T/T or L/C.

 

MAIN SUPPLIERS

 

BASF China Ltd., Hong Kong.

Hyosung (HK) Ltd., Hong Kong.

Tokokosen Corporation, Japan.

 

 

FINANCIAL INFORMATION

 

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:                Traded at a profitable angle.

 

Condition:                      Keeping in a normal manner.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met as required.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

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

Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

 

Standing:                      Normal.

 

 

GENERAL

 

Gold Field Enterprises (H.K.) Co. Ltd. was set up in December 1995 by Mr. Chan Kam Chung.  The subject was jointly owned by Mr. Chan Kam Chung and his wife Ms. Louisa Li Shun Ching.  Now, it is equally owned by Mr. Chan Kam Chung and Mr. Chan Shui Yip.  Both are also the directors of the subject.

The subject is a well-established trading company founded in 1986.  Currently, it has three solely-owned subsidiaries and four production plants.  Its business covers the importation of raw chemical materials and exportation of underwear products, packaging products, food additives, etc.  In its early history, the subject focused on leather chemical products.  It has established strategic partnerships with many international companies to develop a leather chemical product market in China.  Some of these partners include Germany ZSCHIMMER, Germany TFL, Germany LANXESS and America ATLAS.  Since then, the subject has won the sole distribution right for several famous international leather chemical products in China.  Some major products include the followings:-

·         Slovenia TANIN SEVNICA — Chestnut tanning extract;

·         Italy MODERN — Finishing;

·         Spain LFT — Fatliquors of “GREEN WICH” brand; &

·         India PIDILITE — Acrylic filler.

Quanzhou Keen Field Enterprises Co. Ltd. established in 2000, was the first wholly owned subsidiary of the subject.

The subject focuses on the marketing and sales of imported leather chemical products in China; as well as the export of “Carrageenan”, a kind of food additive manufactured by Greenwich (China) Technology Development Ltd. [Greenwich].  “Carrageenan” is a kind of raw material for candy, ice-cream, jelly and cakes.

Greenwich was established in 2003 and is another wholly owned subsidiary of the subject.  It is specialized in food additives production — colloid products.  Lubao (Quanzhou) Biochemistry Co. Ltd., founded by Greenwich, is specialized in the production of Carrageenan, an environment‑friendly food additive that is being sold worldwide.

In September 2007, Greenwich invested US$12.8 million to set up Green Fresh (Fujian) foodstuff Co. Ltd. [Green Fresh] in Fujian.  Green Fresh is equipped with modernized production facilities that are in conformity with international standards.

Following the successful marketing of imported products in China, the subject has penetrated overseas market as well.  The subject has set up production plants for the manufacture of underwear and packaging products.  All these products have been exported to foreign markets.  Overall business is satisfactory.

The subject’s total number of employees in China is about 250.

The annual sales turnover of the subject ranges from HK$85 to 100 million.  Making a small profit every year.

The subject’s business is chiefly handled by Mr. Adrian Lau.

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.59

UK Pound

1

Rs.87.34

Euro

1

Rs.70.66

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.