|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
EDWARD WONG & CO. LTD. |
|
|
|
|
Registered Office : |
1/F. & 2/F., Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
May, 1957 |
|
|
|
|
Com. Reg. No.: |
01411579 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Manufacturer’s Representative; Investment
Holding and Finance. |
|
|
|
|
No. of Employees : |
188 (Group
Employee) |
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 : |
Good |
|
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 – 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 |
EDWARD WONG & CO. LTD.
1/F. & 2/F., Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon,
Hong Kong.
PHONE: 2310 5780, 2370
3111, 2370 3883
FAX: 2310 9150
E-MAIL: enquiry@edward-wong-group.com
Chairman: Mr. Wong Ching Mao,
Edward
Establishment: May 1957.
Incorporated on: 17th
December, 1962.
Organization: Private Limited
Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$8,000,200.00
Business Category: Importer
and Exporter; Finance.
Yearly Group Turnover: HK$1.8~2.0 billion.
Group Employees: 188.
Main Dealing Bankers: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Good.
EDWARD WONG &
CO. LTD.
Registered Head
Office:-
1/F. & 2/F., Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon,
Hong Kong.
Mailing Address: G.P.O. Box
79239, Hong Kong.
Holding Company:-
MTC International Investments Corporation, British Virgin Islands.
Subsidiary/Associated
Companies:-
Atelier Capital Partners Inc., Canada.
Bright Scene Estates Ltd., Hong Kong.
Chongbang Development Ltd., China.
Chongbang Holdings (International) Ltd., China.
Citiland Development Corporation, Canada.
Dues Properties Ltd., Hong Kong.
Edward Wong Credit Ltd., Hong Kong.
Edward Wong Development Co. Ltd., Hong Kong.
Edward Wong Finance Co. Ltd., Hong Kong.
Edward Wong Garment Co. Ltd., Hong Kong.
Edward Wong International Ltd., Hong Kong.
First Trading Co. Ltd., Hong Kong.
Forrester Group Ltd., China.
First Level Development Ltd., Hong Kong.
[Formerly King Lam International Investment Co. Ltd.]
New Iris Properties (Hong Kong) Ltd., Hong Kong.
Palladium Development Corporation, Canada.
Shung On Properties Management Ltd., Hong Kong.
Silkstone Investments Ltd., Hong Kong.
Sino Speed Leather & Hides Ltd., Hong Kong. [Dissolved]
Sunny Hills-Palladium LLC, USA.
Takano Secretarial Services Ltd., Hong Kong.
Walter & Edward Industries Ltd., Hong Kong. [Dissolved]
Walter Textiles Ltd., Hong Kong.
[Dissolved]
etc.
01411579
0008305
Chairman: Mr. Wong Ching Mao,
Edward
Managing Director: Mr. Stephen S.
S. Wong
Contact Person: Ms. Chan Yuk
Chun, Polly
Nominal Share Capital: HK$10,000,000.00 (Divided into 20,000 Ordinary
shares and 80,000 Deferred shares of HK$100.00 each)
Issued Share Capital: HK$8,000,200.00
(As per registry dated 17-12-2012)
|
Name |
|
No. of shares |
|
|
|
|
Ordinary |
Deferred |
|
MTC International Investments Corporation P.O. Box 957, Offshore Incorproations Centre, Road Town, Tortola,
British Virgin Islands. |
|
2 |
- |
|
WONG Ching Mao, Edward [Husband] |
|
- |
66,400 |
|
WONG CHEN Yuih Li, Yolanda [Wife] |
|
- |
13,600 |
|
|
|
–– |
–––––– |
|
|
Total: |
2 = |
80,000 ===== |
(As per registry dated 17-12-2012)
|
Name (Nationality) |
Address |
|
FONG Mei Ling |
Room 1109, 11/F., ChunYiu House, Hang Chun Court, Cheung San Wan,
Kowloon, Hong Kong. |
|
TANG Yuk Kuen |
Flat A, 28/F., Yee King Court, 513-521 Shun Ning Road, Cheung Sha Wan,
Kowloon, Hong Kong. |
|
TONG Hoi Kuen |
Flat C, 12/F., Tower 1, Parc Royale, Shatin, New Territories,
Hong Kong. |
|
Wong Ching Mao, Edward (British) [Father] |
C1, 7/F., 7-10 Ho Man Tin Hill Road, Kowloon, Hong Kong. |
|
Stephen WONG (British) [Son] |
C1, 7/F., 7-10 Ho Man Tin Hill Road, Kowloon, Hong Kong. |
|
William Wong (British) [Son] |
C1, 7/F., 7-10 Ho Man Tin Hill Road, Kowloon, Hong Kong. |
(As per registry dated 17-12-2012)
|
Name |
Address |
Co. No. |
|
Takano Secretarial Services Ltd. |
1/F., Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon, Hong Kong. |
0091543 |
The subject was incorporated on 17th December, 1962 as a private limited
liability company under the Hong Kong Companies Ordinance to take over the business
of Edward Wong & Co., a partnership concern which was established in May
1957.
Formerly the subject was located at 3/F., Edward Wong Tower, 910 Cheung
Sha Wan Road, Kowloon, Hong Kong, moved to 1/F. & 2/F. of the same
building in July 2003.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Manufacturer’s Representative; Investment Holding and Finance.
Lines:-
Import — All kinds of fabrics,
cotton yarns and woollen yarns, raw hides or skins, leather without hair on,
chemicals and metals, watch movements, etc.
Export
—
All kinds of fabrics, knitted and woven garments, consumer electronics, sport
shoes, watches and other light industrial products.
Office Space: 2,574 sq.m. (Joint office with group members)
Group Employees: 188.
Commodities Imported:-
Woven apparel fabric – China, Taiwan and
Hong Kong.
100% cotton yarn and polyester/cotton
blended yarn – Pakistan, Japan, Korea, Taiwan and China.
Woollen yarn – China, Korea, Japan, Taiwan
and East Europe.
Wooltops, scoured wool and greasy wool –
Australia, New Zealand and South America.
Knitting needles – Korea.
Hides and leather – Australia, Canada, US,
Switzerland, Brazil, Portugal, South Africa, Central America, Korea, Japan,
Italy, Bangladesh and India.
Markets: Hong
Kong, China, Europe, US, Canada, Japan, Australia, Russia, etc.
Yearly Group Turnover: HK$1.8~2.0
billion.
Terms/Sales:-
For local:
COD or 30-60 days settlements.
For abroad:
L/C (50%) and D/P (50%).
Terms/Buying: L/C, T/T, etc.
Itochu Corporation, Japan.
Mitsubishi Corporation (Hong Kong) Ltd., Hong Kong.
Mitsui & Co. Ltd., Japan.
Tachu Co. Ltd., Japan.
Taiko Oil Chemical Co. Ltd., Japan.
Tomen Corporation, Japan.
Towa Velveteen Trading Co. Ltd., Japan.
Yagi Tsusho Kaisha Ltd., Japan.
The Chinese General Chamber of Commerce, Hong Kong.
The Chinese Manufacturers’ Association of Hong Kong, Hong Kong.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKE0118]
Nominal Share
Capital: HK$10,000,000.00
(Divided into 20,000 Ordinary shares and 80,000 Deferred shares of HK$100.00
each)
Issued Share Capital: HK$8,000,200.00
Alternation of Capital:-
|
02-01-1963 |
paid up |
HK$ 600,000.00 |
|
04-06-1966 |
paid up |
HK$ 400,000.00 |
|
25-04-1970 |
paid up |
HK$ 1,000,000.00 |
|
02-11-1974 |
paid up |
HK$ 1,000,000.00 |
|
05-05-1975 |
paid up |
HK$ 2,000,000.00 |
|
15-03-1976 |
paid up |
HK$ 3,000,000.00 |
|
15-01-1997 |
paid up |
HK$ 200.00 |
|
|
|
––––––––––––––– |
|
Total: |
paid up |
HK$ 8,000,200.00 ============== |
Increases of Nominal Capital:-
|
From |
HK$1,000,000.00 |
to |
HK$ 3,000,000.00 |
on |
25-04-1970 |
|
From |
HK$3,000,000.00 |
to |
HK$ 5,000,000.00 |
on |
05-05-1975 |
|
From |
HK$5,000,000.00 |
to |
HK$10,000,000.00 |
on |
15-03-1976 |
Mortgage or Charge: (See
attachment)
Profit or Loss: Operation
is conducted on a profitable basis.
Condition: Keeping in an active condition.
Facilities: Is making active use of general banking
facilities.
Payment: So far good in manner.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
Bank of America N.A., Hong Kong Branch.
Wing Hang Bank Ltd., Hong Kong.
Deutsche Bank AG, Hong Kong Branch.
Bangkok Bank Public Co. Ltd., Hong Kong
Branch.
Shanghai Commercial Bank Ltd.,
Hong Kong.
Lloyds TSB Bank plc, Hong Kong Branch.
Hang Seng Bank Ltd., Hong Kong.
China Construction Bank (Asia) Corporation
Ltd., Hong Kong.
The Bank of Tokyo-Mitsubishi UFJ Ltd.,
Hong Kong Branch.
Royal Bank of Canada, Hong Kong Branch.
DZ Bank AG Deutsche
Zentral-Genossenschaftsbank, Frankfurt AM Main, Hong Kong Branch.
Coöperatieve Centrale
Raiffeisen-Boerenleenbank B.A., Hong Kong Branch. [Trading as Rabobank International]
etc.
Banking:-
One source reports they maintain a very
active and well conducted current account opened in January 1967, on which they
grant moderate secured facilities. They
finance a good volume of their import bills and negotiate a large volume of
their export bills mainly under L/C to their entire satisfactory.
Standing: Very good.
Edward Wong & Co. Ltd. has been well-established since its
incorporation in 1962. It is the principal
member of the Edward Wong Group which was founded by Mr. Edward Wong Ching Mao.
Being a native of Ningbo, Mr. Edward Wong Ching Mao is a capable and
experienced businessman with good financial standing. His spouse Mrs. Yolanda Wong Chen is the sister
of Mr. Chen Din Hwa who is the Chairman of Nan Fung Group.
The subject is trading in leather/hide, cotton yarns, woollen yarns,
wool tops, fabrics, leather, etc.
Mr. Wong has three sons who are currently directors of the subject. Came to Hong Kong in the late 1940s when
China was in civil war, Mr. Wong set up his first company known as Edward
Wong & Co. in 1957. This firm
principally was engaged in wholesaling and retailing leather goods and
accessories for shoemaking. With
vigorous efforts, it was able to expand its leather business and diversified
into importing woollen yarns and synthetic fibres. In 1962, the subject was incorporated under
the present name Edward Wong & Co. Ltd.
By the end of the 1960s, the subject’s business had further diversified
into the exportation of garments, and set up the fabric department.
Now, the subject is trading in the following commodities:-
·
Piecegoods - Vegetable Fibre (From China, Taiwan,
Pakistan & India);
·
Piecegoods - Blended (From China, Taiwan, Pakistan
& India);
·
Piecegoods - Woollen:
·
Piecegoods - Silk (From China, Taiwan, Pakistan
& India);
·
Piecegoods - Synthetic (From China, Taiwan,
Pakistan & India);
·
Furnishing Fabrics;
·
Yarn - Acrylic (From China, Taiwan, South Korea
& Japan);
·
Yarn - Blended ( Excluding Polyester / Cotton)
(From China, Taiwan, South Korea & Japan);
·
Yarn - Cotton & Polyester / Cotton (From China,
Taiwan, South Korea, Japan, Pakistan & India);
·
Yarn - Woollen (From China, Taiwan, South Korea
& Japan), Hides & Skins , Undressed (From China, Taiwan, Japan, South
Korea, India, Europe, North America, Central & South America, Africa &
Australia), Leather (From China, Taiwan, Japan, South Korea, India, Europe,
North America, Central & South America, Africa & Australia), Textile
Fibres ( Including Wool ), Leather Waste & Scrap (From China, Taiwan,
Japan, South Korea, India, Europe, North America, Central & South America,
Africa & Australia), etc.
In the years ensuring, several more companies were set up which have
formed the Edward Wong Group. Now, the
principal activities of the Group are trading, property development and even
financing services.
The Group’s real estates business is active and profitable.
The member of the Group responsible for financing is Edward Wong Finance
Co. Ltd. which was incorporated in 1975.
This firm provides small and medium companies with financing
services. In 1982, the Group acquired a
licensed deposit-taking company which was renamed Edward Wong Credit Ltd., an
authorised institution under the regulation of Hong Kong Monetary Authority.
The headquarter building Edward Wong Tower in Hong Kong, completed in
1992, was one of the Group’s earliest real estate projects. Edward Wong Development Co. Ltd. [EWD], a
real estate company set up in 1993, is engaged in the real estate business
which covers properties development and properties management. Business territories cover the United States,
Canada, Singapore, China and Hong Kong.
Edward Wong Garment Co. Ltd. [EWG], incorporated in 1996, is a
wholly-owned subsidiary of the subject engaged in manufacturing and the sales
of knitted and woven garments for men, ladies and children. EWG has been one of the leading garment
manufacturers and exporters in Hong Kong.
It has set up two divisions: Woven Division and Knitwear Division.
EWG is one of the leading manufacturers and exporters in Hong Kong and
with more than fifty years of experience in the trade. It has built teams of specialists to develop
and manufacture various types of garments.
Its headquarters are located in Hong Kong while its manufacturing
factories in Mainland China, Vietnam and Bangladesh. It produces both products in knits and
woven. EWG also receives OEM orders.
EWG is exporting its products to the European countries and the United
States. Main markets are Sweden, Norway,
Denmark, Germany, the Netherlands, the United Kingdom, Australia, Japan and the
United States. Today, it is working with
many reputable international companies and stores around the world such as Billabong,
Country Road, Xandres, Paletti, The Barn, Van Der Wijk, A & F, BCBG.
The subject’s leather department is trading in wet salted raw hides and
skins, horse hides and bovine skins. Its
sales representatives have close contact with local and China tanneries.
The subject imports full range of yarns from Pakistan, Japan, South
Korea, Taiwan and China. Among the
materials imported are 100% cotton yarn and polyester/cotton blended yarn. Major market is the local knitting and
weaving factories while some yarns are re-exported to neighbouring countries. A vast varieties of yarns are imported from
Mainland China, Taiwan, South Korea, Japan and Eastern European countries. It also imports very large quantities of wool
tops, scoured wool and greasy wool from Australia, New Zealand and South
America for commission spinning. As far
as fabrics are concerned, the subject imports fabrics from China, Taiwan and
acquired in Hong Kong. Fabrics are
exported or re-exported to the United States, Europe, Australia while some of
the clients are local garment manufacturers.
In China, the subject has got its own dyeing mill equipped with advanced
machinery and equipment.
The Group’s Edward Wong Credit Ltd. and Edward Wong Finance Co. Ltd. are
aim to provide custom-made financial services to commercial and industrial
enterprises in Hong Kong.
Over the last four decades, the Group has established itself as a
reputable and diversified group with businesses of trading, corporate banking
and real estate investment and development.
Currently it has about 188 staff.
Annual sales turnover of the Group ranges from HK$1.8 to 2.0 billion
which is very significant.
The subject has a history of over 50 years in Hong Kong.
On the whole, consider it good for normal business engagements.
Brief personal history of the principal directors:-
Mr. WONG Ching Mao, Edward, Founder and Chairman of the Group, is the
Chairman of EWD’s board and regularly advises them in terms of strategic
directions and investment strategies.
Mr. Stephen S. S. WONG, B. BA, B. Arch, MSIM, AIA, is the Managing
Director for EWD and is responsible for overall strategic planning, finance and
operation of our real estate investment and development activities, along with
other global strategic investments in non-real estate activities. Since the early 1990’s, Stephen has been the
catalyst for the Group’s investments into China, US and Canada. In Shanghai, China, the Group is one of the
founding partners for the Chongbang Group and the Forrester Group in China; the
Palladium Group in British Columbia, and Sunny Hills-Palladium LLC in
California, engaging in both investment and development activities in Canada
and the US.
Stephen is a qualified licensed architect by training from the State of
California and a member of the American Institute of Architects with extensive
experience on real estate development and investment projects. Prior to joining the Group, Stephen had
worked with Sino Land Co. Ltd. (stock code 083 in Hong Kong) as a Senior
Project Manager, and as intern architect at Anshen + Allen Architects in Los
Angeles. Currently, Stephen sits on the
board of HSBC Bank (China) Co. Ltd. as a Non‑Executive Director. Stephen has a Master degree from the Graduate
School of Business at Stanford University where he was a Sloan Fellow; a
Bachelor degree in Business Administration with emphasis in Real Estate Finance
and Development and a Bachelor degree in Architecture, both from the University
of Southern California.
Court case of the Group:-
|
Date |
Plaintiff |
Defendant |
Cause |
Amount |
|
Dec. 1993 |
Design Beyond Ltd. |
Edward Wong & Co. Ltd. |
Amount due |
HK$239,049 |
|
June 1993 |
Guider Investment Ltd. |
Edward Wong Godown Co. Ltd. |
Breach of Contract |
Not stated |
|
Jan. 1995 |
Hebei Textile (HK) Ltd. |
Edward Wong Godown Co. Ltd. and others |
Damages |
Not stated |
|
July 1999 |
Metrowell Holdings Ltd. |
Edward Wong Finance Co. Ltd. |
Declaration |
Not stated |
|
Nov. 2001 |
Goldmex Ltd., Belking Ltd., World Kingdom Ltd. and First Champion Ltd. |
Edward Wong Finance Co. Ltd. |
Declaration |
Not stated |
Property information of
the Group:-
1. Property Location: Flat No. 1 on 6/F. of Block C and Car
Parking Spaces Nos. D14 & C20, Fairland Gardens, 7 Ho Man Tin Hill Road,
Kowloon, Hong Kong.
Owner: Edward Wong & Co. Ltd.
Date of Purchase: 11-11-1992
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
08-04-2002 |
- |
Hang Seng Bank Ltd., Hong Kong. |
Mortgage to secure general banking facilities granted to Edward Wong
& Co. Ltd., Edward Wong Finance Co. Ltd., Edward Wong Development Co.
Ltd., Edward Wong Garment Co. Ltd. and Bright Scene Estates Ltd., New Iris
Properties (Hong Kong) Ltd. and First Trading Co. Ltd. |
2. Property Location: Flat No. 1 on 7/F. of Block C and Car
Parking Spaces Nos. B4 & C13, Fairland Gardens, 7 Ho Man Tin Hill Road,
Kowloon, Hong Kong.
Owner: Edward Wong & Co. Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
03-12-1993 |
- |
Standard Chartered Bank, Hong Kong Branch. [Business transferred to Standard Chartered
Bank (Hong Kong) Ltd.] |
Legal charge to secure general banking facilities granted to Edward
Wong & Co. Ltd., Edward Wong Finance Co. Ltd. and Lionbell Co. Ltd. |
3. Property Location: Factory Unit A on 7/F., Sing Mei
Industrial Building,
29-37 Kwai Wing Road, Kwai Chung, Tsuen Wan, New Territories, Hong Kong.
Owner: Edward Wong & Co. Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances: No mortgage record
registered against the property.
4. Property Location: Portion of 2/F. (Flat No. 304),
Homantin Mansion,
19-21C Ho Man Tin Street, Kowloon, Hong Kong.
Owner: Edward Wong & Co. Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
03-12-1993 |
- |
Standard Chartered Bank, Hong Kong Branch. [Business transferred to Standard Chartered
Bank (Hong Kong) Ltd.] |
Legal charge to secure general banking facilities granted to Edward
Wong & Co. Ltd., Edward Wong Finance Co. Ltd. and Lionbell Co. Ltd. |
5. Property Location: 3/F., 1039-1041 Tung Chau West Street,
Kowloon, Hong Kong.
Owner: Edward Wong Development Co.
Ltd.
Date of Purchase: 24-07-1990
Purchased Price: n.a.
Incumbrances: No mortgage record
registered against the property.
6. Property Location: Edward Wong Tower, 910 Cheung Sha Wan
Road, Kowloon, Hong Kong.
Owner: Edward Wong Development Co.
Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
29-03-1994 |
- |
Belgian Bank, Hong Kong Branch.
[Business was taken over by Industrial & Commercial Bank of China
(Asia) Ltd.] |
Legal charge to secure general banking facilities |
7. Property Location: Room 1112 on 11/F., Peninsula Centre,
67 Mody Road, Kowloon, Hong Kong.
Owner: Extragold Investment Ltd.
Date of Purchase: 30-05-1981
Purchased Price: HK$2,523,650
Incumbrances: No mortgage record
registered against the property.
8. Property Location: Room 1113 on 11/F., Peninsula Centre,
67 Mody Road, Kowloon, Hong Kong.
Owner: Hardelore Enterprises Ltd.
Date of Purchase: 30-05-1981
Purchased Price: HK$2,311,174
Incumbrances: No mortgage record
registered against the property.
9. Property Location: Car Parking Space No. 39 on Basement
Floor, Peninsula Centre, 67 Mody Road, Kowloon, Hong Kong.
Owner: Takings Industries Ltd.
Date of Purchase: 02-05-1982
Purchased Price: HK$300,000
Incumbrances: No mortgage record
registered against the property.
|
Date |
Particulars |
Amount |
|
18-12-1975 |
Instrument: Mortgage Property: 343/5,000th parts or shares of and in Section D of Kowloon Marine Lot
No. 40 and Subsection 2 of Section B of Kowloon Marine Lot No. 40 Mortgagee: Standard Chartered Bank,
Hong Kong Branch. [Business
transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
HK$3,786,050 |
|
27-02-1976 |
Instrument: Debenture Property: All those plant machinery and accessories Mortgagee: Standard Chartered Bank,
Hong Kong Branch. [Business
transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
HK$810,000 |
|
26-08-1976 |
Instrument: Deed of Consolidation Property: 1) 343/5,000th parts or
shares of and in Section D of Kowloon Marine Lot No. 40 and Subsection 2 of
Section B of Kowloon Marine Lot No. 40 2) All those the plant machinery
and accessories comprised in and charged by the said debenture dated released
27-02-1976 Mortgagee: Standard Chartered Bank,
Hong Kong Branch. [Business
transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
Total extent of HK$6,596,050 granted to the company by the bank under
a mortgage dated 11-12-1975 another mortgage dated 18-12-1975 and a debenture
dated 27‑02‑1976 |
|
28-09-1983 |
Instrument: Collateral Mortgage Property: 1) 2/6th parts or shares
of and in New Kowloon Inland Lot Nos. 3879 & 3880 [Released] 2) 1/31st part or share
of and in Section A of Kowloon Inland Lot No. 2138 and the Remaining Portion
of Kowloon Inland Lot No. 2138
[Released] 3) 30/470th parts or
shares of and in Kwai Chung Town Lot No. 36
[Partially released] 4) 12/887th parts or
shares of and in Kowloon Inland Lot No. 3308 and Kowloon Inland Lot No.
3309 [Released] Mortgagee: Standard Chartered Bank,
Hong Kong Branch. [Business
transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
HK$20,250,000 |
|
03-12-1993 |
Instrument: Legal Charge [the Deed] entered into
between (1) the Mortgagor, (2) Edward Wong & Co. Ltd., Edward Wong
Finance Co. Ltd. and Lionbell Co. Ltd. [collectively the Borrower] and (3)
Standard Chartered Bank [the Bank] Property: 12/887th parts or shares of and in Kowloon Inland Lot No. 3308
and Kowloon Inland Lot No. 3309 (Flat No. 1 on 7/F. of Block C and Car
Parking Spaces Nos. B4 & C13 of Fairland Gardens, 7 Ho Man Tin Hill Road,
Kowloon, Hong Kong.) Mortgagee: Standard Chartered Bank, Hong Kong
Branch. [Business transferred to
Standard Chartered Bank (Hong Kong) Ltd.] |
To secure the due and punctual payment of the Secured Indebtedness |
|
03-12-1993 |
Instrument: Legal Charge [the Deed] entered into
between (1) the Mortgagor, (2) Edward Wong & Co. Ltd., Edward Wong
Finance Co. Ltd. and Lionbell Co. Ltd. [collectively the Borrower] and (3)
Standard Chartered Bank [the Bank] Property: 1/31st part or share of and in Section A of Kowloon Inland Lot No. 2138
and The Remaining Portion of Kowloon Inland Lot No. 2138 [Portion of 2/F.
(Flat No. 304) of Homantin Mansion, 19-21C Ho Man Tin Street, Kowloon,
Hong Kong.] Mortgagee: Standard Chartered Bank,
Hong Kong Branch. [Business
transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
To secure the due and punctual payment of the Secured Indebtedness |
|
08-04-2002 |
Instrument: Mortgage Property: 12/887th parts or shares of and in Kowloon Inland Lot No. 3308
and Kowloon Inland Lot No. 3309 and the extension thereto (Flat No. 1 on 6/F.
of Block C and Car Parking Space Nos. D14 & C20 of Fairland Garden, 7 Ho
Man Tin Hill Road, Kowloon, Hong Kong.) Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure “all moneys” in respect of general banking facilities granted
to Edward Wong & Co. Ltd., Edward Wong Finance Co. Ltd., Edward Wong
Development Co. Ltd., Edward Wong Garment Co. Ltd., Bright Scene Estates
Ltd., New Iris Properties (Hong Kong) Ltd. and First Trading Co. Ltd. |
|
20-10-2010 |
Instrument: Security Agreement over Bank Account Property: By way of a first fixed charge all of the Chargor’s rights in respect
of any amount standing to the credit of the Account from time to time and the
debt represented by it Mortgagee: Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong. |
To secure the payment and satisfaction of all present and future
obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
|
1 |
Rs.88.17 |
|
Euro |
1 |
Rs.73.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.