MIRA INFORM REPORT
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Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
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Name : |
DRAGON
PROOF LTD. |
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Registered Office : |
Room 1103, 11/F., 118
Connaught Road West, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.11.1990 |
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Com. Reg. No.: |
14217441 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of wigs |
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No. of Employees
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08 |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
DRAGON PROOF LTD.
Room 1103, 11/F., 118 Connaught Road West, Sheung Wan, Hong Kong.
PHONE: 2559 5385
FAX: 2548 5479
E-MAIL: raymond@niceton.corp.com.hk
Managing Director: Mr. Guan Wei Min, Raymond
Incorporated on: 23rd November, 1990.
Organization: Private Limited Company.
Capital: Nominal: HK$100,000.00
Issued: HK$100,000.00
Business Category: Wigs Trader.
Employees: 8.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 1103, 11/F., 118 Connaught Road West, Sheung Wan, Hong Kong.
Associated
Factories:-
Qingdao Bushin Hair Products Co. Ltd.
Jiaozhouwan Industry Park, Jiaozhou, Qingdao City, Shandong Province, China.
[Tel: 86-532-8526 2882; Fax: 86-532-8526 2662]
Xuchang Dragon Proof Fashion Ltd.
Economic & Technological Development Zone, Yangguang Road, Xuchang City, Henan Province, China.
[Tel: 86-374-3268377; Fax: 86-374-3218677]
Holding Company:-
Niceton International Holdings Ltd., British Virgin Islands.
14217441
0292326
Managing Director: Mr. Guan Wei Min, Raymond
Director & Contact Person: Ms. Xiao Feng
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000.00
(As per registry
dated 23-11-2011)
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Name |
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No. of shares |
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Niceton International Holdings Ltd. P.O. Box 3152, Road Town, Tortola, British Virgin Islands. |
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99,999 |
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XIAO Feng |
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1 |
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––––––– |
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Total: |
100,000 ====== |
(As per registry
dated 23-11-2011)
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Name (Nationality) |
Address |
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GUAN Wei Min, Raymond |
Flat A, 6/F., Block 2, 1 Po Shan Road, Mid-Levels, Hong Kong. |
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XIAO Feng |
Flat A, 6/F., Block 2, 1 Po Shan Road, Mid-Levels, Hong Kong. |
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GUAN Hong Yan |
Flat A, 6/F., Block 2, 1 Po Shan Road, Mid-Levels, Hong Kong. |
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Niceton International Holdings Ltd. |
P.O. Box 3152, Road Town, Tortola, British Virgin Islands. |
(As per registry
dated 23-11-2011)
XIAO Feng
The subject was incorporated on 23rd November, 1990 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 2006, 20/F., 118 Connaught Road West, Sheung Wan, Hong Kong, moved to Room 3102-3103, 31/F. of the same building in August 2006, and further to Room 1103, 11/F. of the same building in August 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of wigs.
Employees: 8.
Materials/Commodities
Imported:-
· Raw materials – Europe, India, etc.
· Finished products – China.
Markets: Europe, North America, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C, D/P and D/A.
Federation of Hong Kong Industries, Hong Kong. [Member No. A7300]
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Traded at a small profitable angle.
Condition: Keeping in a satisfactory manner.
Facilities: Rather actively using general banking facilities.
Payment: So far regular.
Commercial Morality: Satisfactory.
Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued 100,000 ordinary shares of HK$1.00 each, Dragon Proof Ltd. was jointly owned by a couple, Mr. Raymond Guan Wei Min, holding 65% interests; and Ms. Xiao Feng, holding 35%. Now, the subject has become a wholly-owned subsidiary of Niceton International Holdings Ltd. which is a BVI-registered firm.
Guan and Xiao were Chinese citizens who have been in Hong Kong for a long time and now have become Hong Kong citizens.
The subject is a wigs trader. It has got its own factories in China known as Xuchang Dragon Proof Fashion Ltd. [DF] and Qingdao Bushin Hair Products Co. Ltd. The former is in Xuchang City, Henan Province while the latter in Qingdao City, Shandong Province, China.
DF is one of the largest hair products manufacturers in China. It is solely funded by the subject. It is located in the Xuchang Economic and Technological Development Zone, Henan Province, China. Specialized in the development and manufacture of all kinds of hair products, DF covers an area of 98,530 sq.m. Its assets amounted to RMB360 million Yuan and employing about 3,000 employees.
DF is engaged in manufacturing and exporting different styles, various colours and all sizes human hair wefts, man and woman wigs, and accessories, which are the most popular in the America, the United Kingdom, France, Japan, Nigeria, and South Africa.
The production capacity of DF in 2005 exceeded 5 million pieces, and amounted to US$43.5 million. The sales revenues for the year was up to RMB350 million Yuan, profits amounted to RMB37.27 million Yuan. Now, the annual sales turnover of DF ranges from RMB380 to 400 million Yuan. Business is profitable.
Having a history of more than twenty-one years, the subject has developed long terms buyers in the United States and some of the European countries.
On the whole, consider it good for normal business engagements.
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Date |
Particulars |
Amount |
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26-03-2010 |
Instrument: Legal Charge/Mortgage Property: 28/5,674th parts or shares of and in Section A of Marine Lot No. 534, The Remaining Portion of Marine Lot No. 533, Section A of Marine Lot No. 532, Section A of Marine Lot No. 531, Section A of Marine Lot No. 530, Section A of Marine Lot No. 529, The Remaining Portion of Marine Lot No. 528, Marine Lot No. 527, Marine Lot No. 475, Marine Lot No. 474, Marine Lot No. 473, Marine Lot No. 472, Inland Lot No. 2866, The Remaining Portion of Inland Lot No. 2871, The Remaining Portion of Inland Lot No. 2860, The Remaining Portion of Inland Lot No. 2870 and The Remaining Portion of Inland Lot No. 2861 (Unit 3 on 11/F. of 118 Connaught Road West, 118 Connaught Road West, Hong Kong.) Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure all moneys in respect of banking facilities |
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26-03-2010 |
Instrument: Rental Assignment Property: 28/5,674th parts or shares of and in Section A of Marine Lot No. 534, The Remaining Portion of Marine Lot No. 533, Section A of Marine Lot No. 532, Section A of Marine Lot No. 531, Section A of Marine Lot No. 530, Section A of Marine Lot No. 529, The Remaining Portion of Marine Lot No. 528, Marine Lot No. 527, Marine Lot No. 475, Marine Lot No. 474, Marine Lot No. 473, Marine Lot No. 472, Inland Lot No. 2866, The Remaining Portion of Inland Lot No. 2871, The Remaining Portion of Inland Lot No. 2860, The Remaining Portion of Inland Lot No. 2870 and The Remaining Portion of Inland Lot No. 2861 (Unit 3 on 11/F. of 118 Connaught Road West, 118 Connaught Road West, Hong Kong.) Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure all moneys in respect of banking facilities |
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30-04-2010 |
Instrument: Tripartite Second Legal Charge/Mortgage Property: 28/5,674th parts or shares of and in Section A of Marine Lot No. 534, The Remaining Portion of Marine Lot No. 533, Section A of Marine Lot No. 532, Section A of Marine Lot No. 531, Section A of Marine Lot No. 530, Section A of Marine Lot No. 529, The Remaining Portion of Marine Lot No. 528, Marine Lot No. 527, Marine Lot No. 475, Marine Lot No. 474, Marine Lot No. 473, Marine Lot No. 472, Inland Lot No. 2866, The Remaining Portion of Inland Lot No. 2871, The Remaining Portion of Inland Lot No. 2860, The Remaining Portion of Inland Lot No. 2870 and The Remaining Portion of Inland Lot No. 2861 (Unit 3 on 11/F. of 118 Connaught Road West, 118 Connaught Road West, Hong Kong.) Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure all moneys in respect of banking facilities |
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30-04-2010 |
Instrument: Further Tripartite Rental Assignment Property: 28/5,674th parts or shares of and in Section A of Marine Lot No. 534, The Remaining Portion of Marine Lot No. 533, Section A of Marine Lot No. 532, Section A of Marine Lot No. 531, Section A of Marine Lot No. 530, Section A of Marine Lot No. 529, The Remaining Portion of Marine Lot No. 528, Marine Lot No. 527, Marine Lot No. 475, Marine Lot No. 474, Marine Lot No. 473, Marine Lot No. 472, Inland Lot No. 2866, The Remaining Portion of Inland Lot No. 2871, The Remaining Portion of Inland Lot No. 2860, The Remaining Portion of Inland Lot No. 2870 and The Remaining Portion of Inland Lot No. 2861 (Unit 3 on 11/F. of 118 Connaught Road West, 118 Connaught Road West, Hong Kong.) Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure all moneys in respect of banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.85 |
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UK Pound |
1 |
Rs.77.97 |
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Euro |
1 |
Rs.65.62 |
RATING EXPLANATIONS
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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 |
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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.