|
Report Date : |
22.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
WPF INTERNATIONAL LTD. |
|
|
|
|
Registered Office : |
c/o Harbor Sky Business Consulting (HK) Co. Ltd. Room 2309, 23/F., Ho King Commercial Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
20.04.2011 |
|
|
|
|
Com. Reg. No.: |
58257570 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer,
Exporter and Manufacturer of all kinds of ceramic materials, etc. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office in Hong Kong |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
|
Source : CIA |
WPF INTERNATIONAL
LTD.
c/o Harbor Sky
Business Consulting (HK) Co. Ltd.
Room 2309, 23/F.,
Ho King Commercial Centre, 2-16 Fayuen Street, Mongkok, Kowloon, Hong Kong.
PHONE: 6529 5680
Managing
Director: Mr. Tian Hongxin
Incorporated on :
20th April, 2011.
Organization :
Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees :
Nil.
Main Dealing
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered Office:-
c/o Harbor Sky
Business Consulting (HK) Co. Ltd.
Room 2309, 23/F.,
Ho King Commercial Centre, 2-16 Fayuen Street, Mongkok, Kowloon, Hong Kong.
Associated Companies:-
Foshan Nanhai
Wellhope High-Tech Ceramic Material Co. Ltd., China.
Foshan Wellhope
Ceramic Material Co. Ltd.
Room 808, No 1 Building Attachment, Creative Industry
Park,
33, The 4th Jihua Road, Chancheng District, Foshan, Guangdong, China.
[Tel: +86-757-82714883
Fax: +86-757-82714882]
Wellhope High-Tech
Material (Foshan) Co. Ltd., China.
58257570
1590967
Managing
Director: Mr. Tian Hongxin
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 20-04-2012)
|
Name |
|
No.
of shares |
|
TIAN Hongxin |
|
10,000 ===== |
(As
per registry dated 20-04-2012)
|
Name (Nationality) |
Address |
|
TIAN Hongxin |
No. 008, Bo Ai Zhong Road, Shishan Town,
Nanhai District, Foshan City, Guangdong Province, China. |
(As
per registry dated 20-04-2012)
|
Name |
Address |
Co.
No. |
|
Harbor
Sky Business Consulting (HK) Co. Ltd. |
Room 2309, 23/F., Ho King Commercial Centre, 2-16 Fayuen Street,
Mongkok, Kowloon, Hong Kong. |
1329048 |
The subject was incorporated on 20th April, 2011 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 Manufacturer.
Lines: All kinds of ceramic materials, etc.
Employees: Nil.
Commodities
Imported: China.
Markets: China, other
Asian countries, South America, Southeast Asia, Africa, the Middle East, 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 or Loss: Keeping a balance account in Hong
Kong.
Condition: Business is not active in Hong
Kong.
Facilities: Making fairly active use of
general banking facilities.
Payment: Met trade commitments as required.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, WPF International Ltd. is wholly owned by Mr. Tian Hongxin who is a China merchant. He is a China ID holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject. Currently Tian is residing in Foshan City, Guangdong Province, China.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room 2309, 23/F., Ho King Commercial Centre, 2-16 Fayuen Street, Mongkok, Kowloon, Hong Kong” known as “Harbor Sky Business Consulting (HK) Co. Ltd.” which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong. It has had a main associated company in China known as Foshan Wellhope Ceramic Material Co. Ltd. [Wellhope] which is a China-based firm. The registered capital of Wellhope was RMB 200,000 Yuan.
Your given phone and fax number belong to Wellhope.
Set up in 2011, Wellhope has three factories located in Xiaotang Nanhai, Shishan Naihai and Jingkou Sihui. Wellhope has devoted itself to the production, researching, development and designing of Ceramics Raw Materials since it was engaged in the ceramic industry. Now, it has grown up into an importantly professional enterprises. It was conferred the title of “a star enterprise” in China’s building ceramics industry by Foshan General Chamber of Commerce in 2005 and the one of the top five chemicals/pigments/glazes of Foshan Tile & Sanitary ware by Foshan Ceramic Industry Association in 2005. The products of Wellhope include body stains, glaze colour, soluble salts, composed glaze, frits and special chemical additives, etc. The production capacity of the pigments is about 10,000 MT per year.
The followings are the main products of Wellhope:-
Ceramic pigment, transparent frit, luster, matte frit, printing glaze, metallic printing glaze, composed glaze, full-polish glaze, binder, opaque frit, soluble salt, engobe frit, ceramic diluting agent, engobe glaze, etc.
Products are exported to South America, Southeast Asia, Africa, the Middle East, Eastern Asia, etc. About 60-70% of its products are exported.
Now Wellhope is developing sales networks throughout the world in order to deliver its products promptly to its customers. It is also able to offer its customers with after-sales service. Its glaze pigment is produced in Shishan Nanhai Factory while frit is produced in Jingkou Sihui Factory.
Wellhope has about 250 employees. It has got ISO9001:2000 certification. Annual sales turnover ranges from US$50 to US$60 million. Tian Hongxin (alias Honk Tian) is the legal representative of Wellhope.
Wellhope deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. Wellhope also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over a year.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
|
UK Pound |
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.