MIRA
INFORM REPORT
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Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
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Name : |
TAN HEONG SAN ENTERPRISE LTD |
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Registered Office : |
6 Andar D Edificio Industrial Ocean Rua Dos Pescadores S/N Bloco I, |
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Country : |
Macau |
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Date of Incorporation : |
29.04.1998 |
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Com. Reg. No.: |
12696 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Manufacturing of Finished products like Bread, Coffee, Coffee machines, Honey, Pastry |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Macau |
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 |
MACAU - ECONOMIC OVERVIEW
Since opening up its locally-controlled casino industry to
foreign competition in 2001, Macau has attracted tens of billions of dollars in
foreign investment, transforming the territory into one of the world's largest
gaming centers. Macau's gaming and tourism businesses were fueled by China''s
decision to relax travel restrictions on Chinese citizens wishing to visit
Macau. By 2006, Macau''s gaming revenue surpassed that of the Las Vegas strip,
and gaming-related taxes accounted for more than 70% of total government
revenue. Macau''s economy slowed dramatically in 2009 as a result of the global
economic slowdown, but strong growth resumed in 2010-11, largely on the back of
tourism from mainland China and the gaming sectors. In 2012, this city of
582,000 hosted nearly 28 million visitors. Almost 60% came from mainland China.
Macau''s traditional manufacturing industry has slowed greatly since the
termination of the Multi-Fiber Agreement in 2005. China is Macau''s second
largest goods export market, behind Hong Kong, and followed by the United
States. In 2012, exports were less than US$1 billion, while gaming receipts
were US$38 billion, a 13.5% increase over 2011. Macau''s economy expanded by
10% in 2012; although impressive, it was a slower growth rate than in previous
years. Macau continues to face the challenges of managing its growing casino
industry, money-laundering, and the need to diversify the economy away from
heavy dependence on gaming revenues. Macau''s currency, the pataca, is closely
tied to the Hong Kong dollar, which is also freely accepted in the territory.
Source
: CIA
Company name and address
6 ANDAR D EDIFICIO INDUSTRIAL OCEAN RUA DOS
PESCADORES S/N BLOCO I, MACAU
TEL: [+853]-28722224
FAX: [+853]-28718455
EXECUTIVE SUMMARY
INCORPORATION DATE : APRIL 29, 1998
REGISTRATION NO. :
12696
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. CHI-FONG UNG (DIRECTOR)
STAFF STRENGTH :
50
PAID-UP CAPITAL :
MOP 10,000
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
MOP 7.9903 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
MOP- Macau Patacas
*COMPANY SUMMARY*
================
Name in Local Language : 檀香山企業有限公司
Trading Name / DBA: TAN HEONG SAN - IMPORTACAO E EXPORTACAO
Issuing Authority: Conservatoria dos Registos Comercial e de Bens Moveis
(Commercial Registry Office) - National
License Status: License exists - Normal.
Operational Status of Business: Normal
*CAPITAL (Currency: MOP) *
=======================
Authorized Capital: 10,000
*OFFICE & FACILITIES*
====================
Name: TAN HEONG SAN ENTERPRISE LTD - MACAU
Building Size: 3,250 Square feet
Address: 6 andar D Edificio Industrial Ocean Rua dos Pescadores S/N
Bloco I, Macau
Country: Macao
Status: Operational
*FACTORIES, SIZE, & LOCATIONS*
============================
The following information relates
to the Business Entity's factory as listed above:
Address: Rua Norte Do Parque
Industrial Lote B2C, Macau
*REPUTATION*
=============
Reference checking for the purpose of establishing the TAN HEONG SAN
ENTERPRISE LTD's reputation within the respective industry failed to reveal any
adverse information.
http://www.cafehonolulu.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 2
Total number of shares: N/A
Currency: MOP - Macau Patacas
Shares
No. Shareholders
Country Amount (MOP) %
1 ROSEBUD
GROUP LTD Macao 9,000 90.00
2 Mr.
Chi-fong Ung Macao
1,000 10.00
Total 10,000
100.00
DIRECT / INDIRECT CORPORATE PARENT DETAILS
Direct Parent: ROSEBUD GROUP LTD
Country: Macao
Operational Address: 6Fl Edificio Macau
Finance Centre 224-246 Rua de Pequim Macau
*COMPANY DIRECTORS*
=====================
Name: Mr. Chi-fong Ung
Nationality: Macanese
Primary Business Activity: Manufacturer
Primary Industry: Food Products
CORE BUSINESS DESCRIPTION
-Core Business
The primary business focus of TAN HEONG SAN ENTERPRISE LTD is
Manufacturing - Finished products.
-Key products include:
Bread
Coffee
Coffee machines
Honey
Pastry
-An integral part of the core business includes:
Distribution
-Supplementary Business
In addition to the core business, TAN HEONG SAN ENTERPRISE LTD also is
engaged in the following areas of business:
Exporting
Exporting - Finished products
Importing
Importing - Raw materials
DOMESTIC SALES & PURCHASES
Annual Sales Analysis Percentage
Domestic Sales 80%
International Sales (Export) 20%
Annual Purchases Analysis Percentage
Local Purchases 70%
Imports 30%
PAYMENT TERMS
-Selling
Type Terms
Local Cash on delivery
(C.O.D)
Credit - Unsecured 30~60 days
Export Letter of Credit
(At-sight)
Documents against Acceptance (D/A)
-Purchasing
Type Terms
Local Cash on delivery
(C.O.D)
Credit - Unsecured 30~60 days
Import Letter of Credit
(At-sight)
Telegraphic Transfer (T/T) - Executed at
time of transaction
INTERNATIONAL TRADE - Activity & Markets
Country / Region Estimated
level of importance Trading
Activity
Asia / Pacific Medium
Importing,
Exporting
SIC PRODUCT CLASSIFICATION & ACTIVITY
Product/Service Description Code
Activity
Bread and other bakery products, other than frozen 2051 Manufacturing,
Exporting
Food products, nspf 2099
Manufacturing, Exporting
Industrial Machinery & Equipment 3500
Manufacturing, Exporting
Roasted coffee 2095
Manufacturing, Exporting
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Product/Service Description Code
Activity
Bread 1905901070
Manufacturing, Exporting
Bread, pastry cakes etc: comm wafers,
empty caps etc 1905
Manufacturing, Exporting
Coffee, tea, mate & spices 0900
Manufacturing, Exporting
Dairy, eggs, honey, & ed. products 0400
Manufacturing, Exporting
Food preparations 2106
Manufacturing, Exporting
Machines etc having individual
functions nesoi, parts 8479
Manufacturing, Exporting
Primary Products
Products / Materials / Services Description Activity
Bread Manufacturing,
Exporting
Coffee Manufacturing,
Exporting
Coffee machines Manufacturing,
Exporting
Honey Manufacturing,
Exporting
Pastry Manufacturing,
Exporting
SC is not known to have any subsidiary at present.
Based on the corporate laws of Macao, legal entities which are Private
Company with Limited Liability are not required to make public disclosure of
their annual financials. Therefore no financials are available for this entity.
SC is considered medium-sized in its line with a development history of
15 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.44 |
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|
1 |
Rs.91.24 |
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Euro |
1 |
Rs.78.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.