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Report Date : |
28.10.2013 |
IDENTIFICATION DETAILS
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Name : |
KEEFORD HARDWARE CO. LTD. |
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Registered Office : |
Unit B, 4/F., Golden Bear Industrial Centre, 66-82 Chai Wan Kok
Street, Tsuen Wan, New Territories |
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Country : |
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Date of Incorporation : |
19.08.1996 |
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Com. Reg. No.: |
30350770 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Wholesaler of All kinds of metal hardware including hand
tools, locks, water taps and other household metal products. |
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No. of Employees : |
8 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% 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,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. 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 |
KEEFORD HARDWARE
CO. LTD.
Unit B, 4/F., Golden Bear Industrial Centre, 66-82 Chai Wan Kok Street,
Tsuen Wan, New Territories,Hong Kong.
PHONE: 852-2959 1993, 852-2742 2768
FAX: 852-2439 9020
E-MAIL: sales03@szsunyuan.com
Managing Director: Mr. To Ho Nung
Establishment: 19th
August, 1996. (Sole Proprietorship)
Incorporated on: 4th
August, 1999.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Metal Hardware Importer and Wholesaler.
Employees: 8.
Main Dealing Banker: Wing Hang Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
KEEFORD HARDWARE
CO. LTD.
Registered Head Office:-
Unit B, 4/F., Golden Bear Industrial Centre, 66-82 Chai Wan Kok Street,
Tsuen Wan, New Territories,Hong Kong.
30350770
0684237
Managing Director: Mr. To Ho Nung
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 04-08-2013)
|
Name |
|
No. of shares |
|
TO Ho Nung |
|
5,999 |
|
TO Chun Yu |
|
4,000 |
|
WONG Pui Hung |
|
1 |
|
|
|
–––––– |
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Total: |
10,000 ===== |
(As per registry dated
04-08-2013)
|
Name (Nationality) |
Address |
|
TO Ho Nung (Chinese) |
Flat E, 24/F., Palatial Crest, 3 Seymour Road, Hong Kong. |
|
To Chun Yu, Kenneth |
Flat E, 24/F., Palatial Crest, 3 Seymour Road, Hong Kong. |
|
WONG Pui Hung (Chinese) |
2A, Block 11, Villa Concerto, Symphony Bay, Sai Kung, Kowloon, Hong
Kong. |
(As per registry dated 04-08-2013)
|
Name |
Address |
Co. No. |
|
New Han International Ltd. |
Unit 1404, 14/F., Leader Commercial Building, 54‑56 Hillwood
Road, Tsimshatsui, Kowloon, Hong Kong. |
0519430 |
The subject was incorporated on 4th August, 1999 as a private limited
liability company under the Hong Kong Companies Ordinance to take over the
business of Keeford Hardware Company which was a sole proprietorship concern
owned by Mr. Eddy Pau Kee Tung and established on 19th August, 1996 bearing the
Business Registration No. 20149622.
The office of the predecessor was initially located at Room 904, 9/F.,
Ming Yan House, Ming Nga Court, Tai Po, New Territories, Hong Kong where
was the old residence of Mr. Eddy Pau.
The subject moved to Room 802, 8/F., West Wing, Tsim Sha Tsui Centre,
66 Mody Road, Tsimshatsui, Kowloon, Hong Kong in June 1997, moved to Room
910, 9/F., Laford Centre, 838 Lai Chi Kok Road, Cheung Sha Wan, Kowloon, Hong
Kong in February 1999.
The subject moved to the present address in November 2011.
The business of the predecessor ceased formally on 1st January, 2000.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer and Wholesaler.
Lines: All
kinds of metal hardware including hand tools, locks, water taps and other
household metal products.
Employees: 8.
Commodities Imported: Mainly imported from European countries.
Markets:
Terms/Sales:
COD or as per
contracted.
Terms/Buying: L/C,
D/P and T/T.
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: Making a small
profit every year.
Condition: Keeping in a satisfactory state.
Facilities: Making active use of general banking
facilities.
Payment:
Met as
contracted.
Commercial Morality: Satisfactory.
Banker:
Wing Hang
Bank Ltd.,
Standing:
Keeford Hardware Co. Ltd. was jointly owned by Mr. To Ho Nung who owned
98 shares, Mr. Pau Kee Tung, owned 1 share and Ms. Wong Pui Hung, also 1 share.
Now, the subject has increased its ordinary shares to 10,000. Mr. To Ho Nung is holding 60% interests while
Mr. To Chun Yu is holding 40%.
The predecessor of the subject was a sole proprietorship concern known
as Keeford Hardware Company set up and owned by Mr. Pau Kee Tung. Business commenced on 19th August, 1996, this
firm was engaged in importing and wholesaling metal hardware, tool and
machinery parts. The subject is engaged
in the same lines of business.
When the subject was set up in August 1996, it took over all the
business of On Keeford Hardware Company.
Keeford Hardware Company ceased business formally on 1st January 2000.
The subject is dealing in all kinds of metal hardware including hand
tools, locks, water taps, other household metal products and accessories. Its tools include carbide drills, carbide
inserts, spade drills and tool holders.
Most of the tools are for the mould and die industry.
According to the subject, about 10% of its products are exported to
Southeast Asia, 20% to Eastern Asia, 30% to South Asia and 40% for the domestic
market. It accepts payments on HKD, CNY,
USD and EUR. Business has been
satisfactory.
The subject has set up distribution channels in Hong Kong. Most of its buyers are Hong Kong retailing
outlets.
The subject’s business is mainly handled by Mr. Kenneth To Chun Yu and
Mr. To Ho Nung.
The annual sales turnover of the subject ranges from HK$50 to 55
million. As the history of the subject
is over 17 years in Hong Kong, on the whole, consider it good for normal
business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.85.14 |
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 |
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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 |
|
<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.