|
Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
WELL
BRAVO (HK) LTD. |
|
|
|
|
Registered Office : |
Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po
Road, Kowloon City, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
01.04.2008 |
|
|
|
|
Com. Reg. No.: |
39252818 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Leather materials, leather garments, other kinds of garments, etc. |
|
|
|
|
No. of Employees : |
04 (Including
associates) |
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 : |
Usually Correct |
|
|
|
|
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 |
WELL BRAVO (HK) LTD
Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po Road, Kowloon City, Kowloon, Hong Kong.
PHONE: 3525 1050
FAX: 2718 4361
E-MAIL: supinco@superior.imsbiz.com.hk
Managing Director: Ms. Wong Yuen Sheung, Juliana
Incorporated on: 1st April, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 4. (Including associates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po Road, Kowloon City, Kowloon, Hong Kong.
Associated/Affiliated
Companies:-
Kaiping Superior Leather Products Factory, China.
Kaising Industrial Co., Hong Kong.
Superior (International) Co. Ltd., Hong Kong. [Dissolved]
Superior Leather Trading Co. Ltd., Hong Kong. [Same address]
Superior Trading Co., Hong Kong.
39252818
1221868
Managing Director: Ms. Wong Yuen Sheung, Juliana
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry
dated 01-04-2012)
|
Name |
|
No. of share |
|
WONG Yuen Sheung, Juliana |
|
1 = |
(As per registry
dated 01-04-2012)
|
Name (Nationality) |
Address |
|
WONG Yuen Sheung, Juliana |
Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po Road, Kowloon City, Kowloon, Hong Kong. |
(As per registry
dated 01-04-2012)
|
Name |
Address |
|
CHENG Kar Yan, Joyce |
Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po Road, Kowloon City, Kowloon, Hong Kong. |
The subject was incorporated on 1st April, 2008 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: Leather materials, leather garments, other kinds of garments, etc.
Employees: 4. (Including associates)
Commodities Imported: India, Europe, South America, etc.
Markets: China, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Made a very small profit in 2011.
Condition: Business is normal.
Facilities: Making 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.
Incorporated in April 2008, Well Bravo (HK) Ltd. is wholly-owned by Ms. Juliana Wong Yuen Sheung who is a Hong Kong businesswoman. The subject has just issued one ordinary shares of HK$1.00 which is owned by Wong. She is also the only director of the subject.
The subject is a leather material and leather garment trader.
It is trading in
the following products:-
Glazed Kid, cow full grain, corrected grain, oil pull ups and box leather, calf, cow natural and dyed crust leather, buffalo calf, kid suede, kid/cow linings and industrial leathers from various origins.
Its leather materials are chiefly sold to the leather manufacturers in China.
The subject shares the same operating office with another firm Superior Leather Trading Co. Ltd. [Superior Leather] which is a Hong Kong-registered firm. Owned and operated by Mr. Tomy Cheng Kwok Kee, Superior Leather is a leather material trader. The subject is engaged in the same lines of business as Superior Leather.
Tomy Cheng has been appointed as BLC’s agent for China. Tomy, who has been working in the leather industry for more than 38 years, is the managing director of Superior Leather, a Hong Kong-based company established in 1976. BLC is a tannery.
Superior Leather started out as an importer of finished leather for garments, bags and shoes, later operated a tannery in China before becoming the sales agent for several major tanneries in Europe and the Middle East. Most of the suppliers are in Pakistan, Iran, Soudi Arabia, etc.
Superior Leather is engaged in the sales and purchasing products such as hides, skins and leather to work with BLC to broaden its scope in China and provide a local contact point. It has set up a leather product factory known as Kaiping Superior Leather Products Factory in Kaiping, Guangdong Province, China. It is also specialized in box leather, calf, cow natural and dyed crust leather, buffalo calf, kid suede, kid/cow linings and other types of industrial leathers.
Besides trading in leather materials, Superior Leather also trades in leather garments and other kinds of garments such as denim and jeans. It is interested in apparel stocks. The contact person of Superior Leather is also Juliana Wong.
The subject is supported by Superior Leather. Business is chiefly handled by Juliana Wong herself. History in Hong Kong is over four years.
On the whole, consider it good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
UK Pound |
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report Prepared by
: |
MNL |
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.