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Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
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Name : |
PEARLCOIN (HONG
KONG) LTD. |
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Registered Office : |
21/F., 22 Yee Wo Street, Causeway Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.12.2000 |
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Com. Reg. No.: |
31604158 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer and Exporter of Wigs, Synthetic Hair Pieces, Braid, Etc. |
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No. of Employees : |
5. (Including associates in Hong Kong) 2,000. (China) |
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 |
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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) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
PEARLCOIN (HONG
KONG) LTD.
21/F., 22 Yee Wo
Street, Causeway Bay, Hong Kong.
PHONE: 2793 0891
FAX: 2357 5338
E-MAIL: mail@pearlcoin.com
Managing
Director: Mr. Wong Yat Chung, Ernie
Incorporated on: 27th December, 2000.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Manufacturer, Importer and Exporter.
Employees: 5. (Including associates in Hong Kong) 2,000. (China)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
PEARLCOIN (HONG
KONG) LTD.
Registered
Head Office:-
21/F., 22 Yee Wo
Street, Causeway Bay, Hong Kong.
Holding
Company:-
Pearlcoin Holdings
Ltd., British Virgin Islands.
Associated
Companies:-
Dongguan Golden Speed Hair Product Ltd., China.
Dongguan Pearlcoin Hair Product Ltd., China.
Huiyang Qiuchang Hair Product Factory, China.
Newlink Enterprises Ltd., Hong Kong. (Same address)
Pearlcoin (Huiyang) Ltd., Hong Kong. (Same address)
Pearlcoin (Sichuan) Ltd., Hong Kong. (Same address)
Pearlcoin Co. Ltd., Hong Kong. (Same address)
Sichuan Guanganteng Hair Product Co. Ltd., China.
World Ease Ltd., Hong Kong. (Same address)
31604158
0742402
Managing
Director: Mr. Wong Yat Chung, Ernie
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 27-12-2011)
|
Name |
|
No.
of shares |
|
Pearlcoin Holdings Ltd. P.O. Box 957, Offshore Incorporation Centre, Road Town, Tortola,
British Virgin Islands. |
|
10,000 ===== |
(As per registry dated 27-12-2011)
|
Name (Nationality) |
Address |
|
LAM Chor Wai |
21/F., 22 Yee Wo Street, Causeway Bay,
Hong Kong. |
|
WONG Yat Chung,
Ernie |
21/F., 22 Yee Wo Street, Causeway Bay,
Hong Kong. |
(As per registry dated 27-12-2011)
|
Name |
Address |
|
WONG
Wan Wah |
21/F., 22 Yee Wo Street, Causeway Bay, Hong Kong. |
The
subject was incorporated on 27th December, 2000 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the subject was located at Flat E, 17/F., World Tech Centre, 95 How Ming
Street, Kwun Tong, Kowloon, Hong Kong, moved to the present address in July
2009.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Manufacturer, Importer and Exporter.
Lines: Wigs, synthetic hair pieces, braid, etc.
Employees: 5. (Including associates in Hong Kong) 2,000. (China)
Materials/Commodities Imported:-
Raw materials – Europe, India, other Asian countries, etc.
Finished products – China.
Markets: Europe, North and South America, Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C or T/T.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge (since 2010):-
Date of Assignment of Life Insurance: 11-03-2010
Amount: Secured Indebtedness
Property: (i) all the Assignor’s claims, options, privileges, right, title, interest and benefit in and under the Insurance; and (ii) all the Assignor’s claims and rights against the issuer of the Policy
Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Traded at a small profitable angle.
Condition: Keeping in a normal state.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having
issued 10,000 ordinary shares of HK$1.00 each, Pearlcoin (Hong Kong) Ltd.
is a wholly-owned subsidiary of Pearlcoin Holdings Ltd. which is a
BVI-registered firm. The subject is
actually owned and operated by Mr. Ernie Wong Yat Chung and Ms. Lam Chor Wai.
The
subject is trading in wigs. Finished
products are imported from China.
The
subject has had an associated company Pearlcoin Co. Ltd. [PCL], a
Hong Kong-registered firm located at the same operating address.
The
subject and PCL are engaged in the same lines of business, more or less. The subject is backed up with skilled
manpower hubs located strategically in mainland China.
The
subject is one of the leading manufacturers and companies in the wigs and
hairpieces industry. It consistently
manufactures and exports wigs, hair weavings, men’s toupees, ladies’ toupees,
hair extensions, hair integration pieces and other forms of hairpieces.
Head
office based in Hong Kong, the subject has factories in Dongguan City, Huiyang
City, Guangdong Province, and Sichuan Province, China with 2,000 workers in
total. The followings are the
factories:-
Dongguan
Golden Speed Hair Product Ltd.
Dongguan
Pearlcoin Hair Product Ltd.
Sichuan
Guanganteng Hair Product Co. Ltd.
Huiyang
Qiuchang Hair Product Factory
Products
are chiefly for the Caucasian and Afro-American markets. Other markets include the United States,
Europe, Africa, Caribbean and the Pacific areas. Business is active.
The
business of the subject and PCL is chiefly handled by Mr. Ernie Wong. Annual sales turnover of the subject and PCL
is significant.
The
history of the subject in Hong Kong is over eleven years and two months.
On
the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.84 |
|
|
1 |
Rs.77.96 |
|
Euro |
1 |
Rs.65.61 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.