MIRA INFORM REPORT

 

 

Report Date :

17.12.2014

 

IDENTIFICATION DETAILS

 

Name :

EDUCATIONAL TECHNOLOGIES LIMITED

 

 

Formerly Known as:

WINCO HOLDINGS LIMITED

 

 

Registered Office :

10/F, Blk C, Seaview Estate, 2-8 Watson Road, North Point

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

26.11.2003

 

 

Com. Reg. No.:

34163721

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading and Publishing of Books.

 

 

No of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

Litigation :

Exist

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Hong Kong

A1

A1

 

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 has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: 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, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. 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 12% of total system deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies.

 

Source : CIA

Company Name and address

 

Company Name (in English):

Educational Technologies Limited

Supplied Name:

EDUCATIONAL TECHNOLOGIES LIMITED

Trading Address:

10/F, Blk C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong

Supplied Address:

10/F, BLOCK C, SEAVIEW ESTATE 2-8 WATSON RPAD, NORTH POINT, HONG KONG

Note: The exact name and address are as above.

 

 

Company Identification Details

 

Registered Name:

Educational Technologies Limited

Registered Address:

10/F, Blk C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong

Telephone Number:

+852-2922-7871/2922-7872

Fax Number:

+852-2922-7870

Date of Registration:

2003-11-26

Registered Number:

872243

Business Registration No.:

34163721

Paid-up Capital:

HKD 4 (USD 0.516) = 4 Shares@ HKD 1

(As of 2014.12, 1 HKD = 0.129 USD)

Legal Form:

Private Limited Liability Company

SITC Code:

89212--Children's picture, drawing or colouring books (kg)

Principal Activities:

Trading and publishing of books.

Staff:

N/A

Listed at Stock Exchange:

No

Date of Last Annual Return:

2014-11-26

Notes: Subject declined to disclose the number of staff, and from other source we cannot obtain the information, either.

 

 

History

 

Subject was incorporated on 2003-11-26 with the registered number 872243 as Private Limited Liability Company in Hong Kong.

 

 

Change of Name

 

Date

Change

2004-1-5

EDUCATIONAL TECHNOLOGIES LIMITED

2003-11-26

WINCO HOLDINGS LIMITED

 

 

Corporate Structure

 

Parent Company

 

TIMES PUBLISHING (HONG KONG) LIMITED

10/F, Block C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong North Point

Hong Kong

Tel: (852) 3965 7800

Fax: (852) 2979 4528

E-mail: enquiries@tplhk.com.hk  

 

Related Companies

 

MANHATTAN - MARSHALL CAVENDISH EDUCATION

9/F Block C

Seaview Estate

2-8 Watson Road

North Point

Hong Kong

Tel: (852) 2945 7211

Fax: (852) 2423 0633

E-mail: opinion@manhattanpress.com.hk

 

MARSHALL CAVENDISH BUSINESS INFORMATION (HK) LTD

10/F Block C

Seaview Estate

2-8 Watson Road

North Point

Hong Kong

Tel: (852) 3965 7800

Fax: (852) 2979 4528

E-mail: bizinfo@hk.marshallcavendish.com

 

 

Shareholders

 

Name

Subscription Shares

Proportion of Investment (%)

Times Publishing (Hong Kong) Limited

4

100%

Total

4

100%

 

Major Shareholder Information:

 

Name:

Times Publishing (Hong Kong) Limited

Address:

10/F, Block C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong

 

 

Management Information

 

Core Management

 

Detailed Information of Directors:

 

1

Name:

Fei Chen Lee

Address:

62 Hua Guan Avenue, Hong Kong Park, Singapore 589158

Position:

Director

Passport Number:

E3058396C

Issuing Country:

Singapore

2

Name:

Thomas Pedro Irle

Address:

Flat 10A, Cheung Fai Building, No. 44 & 44a, Lyndhurst Terrace, Nos. 45 & 47, Cochrane Street, Hong Kong

Position:

Director

Passport Number:

C4KR3T5NC

Issuing Country:

Hong Kong

3

Name:

Peng Yim Siew

Address:

66 Mei Hwan Drive, #10-09 Goldenhill Park, Singapore 568429

Position:

Director

Passport Number:

A23202988

Issuing Country:

Malaysia

4

Name:

Nyit Choo Goh

Address:

10/F, Blk C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong

Position:

Secretary

ID Number:

P137761(6)

 

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

10/F, Blk C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong

 

Premises Information

 

Office address:

 

Address:

10th Floor Of Block C

Sea View Estate

No.8 Watson Road

Hong Kong

Owners:

Times Publishing (Hong Kong) Limited

Memorial Number:

13101100150029

Certificate Of Change Of Name

Date of Instrument:

2005-7-15

Date of Registration:

2013-10-11

 

 

History of Premises Owners’

 

1

Memorial No.:

05042003130093

Date of Instrument:

2005-3-22

Date of Registration:

2005-4-20

Nature:

Tenancy Agreement

In Favor of:

Score Woodworks Limited

2

Memorial No.:

UB5380087

Date of Instrument:

1992-4-29

Date of Registration:

1992-8-7

Nature:

Agreement For Sale And Purchase

In Favor of:

Far East Trade Press Limited

Consideration:

HKD 27,500,000.00

3

Memorial No.:

UB4074848

Date of Instrument:

1989-4-27

Date of Registration:

1989-5-11

Nature:

Memorandum Of Change Of Name Of Building

 

Operation Information

 

·         Subject is operating as a publishing company.

·         It is introduced that subject’s major products are children's books and etc.

·         It is introduced that subject’s books are translation in nine different languages.

·         Subject’s selling territory includes Asia, Europe, America and etc.

·         Subject’s major customers are early learning centre, schools and libraries, etc.

 

Trademark

 

1

Trade Mark No.:

200207992

Status:

Registration Merged

Mark:

SWEEPY


image

Mark Type:

Ordinary

Owner's Name, Address:

Educational Technologies Limited
Room 1301-5, 13/F, Kornhill Metro Tower, 1 Kornhill Road, Hong Kong

Owner's Address for Service:

Deacons

3rd - 7th, 14th & 29th Floors, Alexandra House, Central, Hong Kong

Agent's Address:

3rd - 7th, 14th & 29th Floors, Alexandra House, Central, Hong Kong

Class No.:

41

Specification:

Class 41
education and entertainment services relating to training in languages, computers, mathematics, vocabulary, reading, listening, speaking and communication methods, all provided in-person, through electronic communications and over the Internet; game services provided on-line from a computer network and electronic means; providing live music services, entertainment services providing facilities for singing with prerecorded background music and with lyric shown on a screen; all included in Class 41.

Date of Registration: (D-M-Y)

30-10-2001

Actual Date of Registration: (D-M-Y)

25-06-2002

Expiry date: (D-M-Y)

30-10-2008

Historical Details:

 

Date of entry

Matters

18-07-2008

MERGER

06-05-2008

ASSIGNMENT/TRANSFER

06-05-2008

CHANGE OF NAME

28-04-2004

ASSIGNMENT/TRANSFER

25-06-2002

REGISTRATION

2

Trade Mark No.:

200207516

Status:

Registration Merged

Mark:

SWEEPY


image

Mark Type:

Ordinary

Owner's Name, Address:

Educational Technologies Limited
Room 1301-5, 13/F, Kornhill Metro Tower, 1 Kornhill Road, Hong Kong

Owner's Address for Service:

Deacons

3rd - 7th, 14th & 29th Floors, Alexandra House, Central, Hong Kong

Agent's Address:

3rd - 7th, 14th & 29th Floors, Alexandra House, Central, Hong Kong

Class No.:

16

Specification:

Class 16
printed magazines, books and booklets; paper folders, portfolios (folders) and cases (covers), posters, notepads, and art supplies, modeling clay; all included in Class 16.

Date of Registration: (D-M-Y)

30-10-2001

Actual Date of Registration: (D-M-Y)

17-06-2002

Expiry date: (D-M-Y)

30-10-2008

Historical Details:

 

Date of entry

Matters

18-07-2008

MERGER

06-05-2008

ASSIGNMENT/TRANSFER

06-05-2008

CHANGE OF NAME

28-04-2004

ASSIGNMENT/TRANSFER

17-06-2002

REGISTRATION

3

Trade Mark No.:

200206556

Status:

Registration Merged

Mark:

SWEEPY


image

Mark Type:

Ordinary

Owner's Name, Address:

Educational Technologies Limited
Room 1301-5, 13/F, Kornhill Metro Tower, 1 Kornhill Road, Hong Kong

Owner's Address for Service:

Deacons
3rd - 7th, 14th & 29th Floors, Alexandra House, Central, Hong Kong

Agent's Address:

3rd - 7th, 14th & 29th Floors, Alexandra House, Central, Hong Kong

Class No.:

9

Specification:

Class 9
prerecorded audio and video recordings on tapes, disks and CD-ROMs; all included in Class 9.

Date of Registration: (D-M-Y)

30-10-2001

Actual Date of Registration: (D-M-Y)

29-05-2002

Expiry date: (D-M-Y)

30-10-2008

Historical Details:

 

Date of entry

Matters

18-07-2008

MERGER

06-05-2008

ASSIGNMENT/TRANSFER

06-05-2008

CHANGE OF NAME

28-04-2004

ASSIGNMENT/TRANSFER

29-05-2002

REGISTRATION

4

Trade Mark No.:

200206555

Status:

Registration Merged

Mark:

SWEEPY


image

Mark Type:

Ordinary

Owner's Name, Address:

Educational Technologies Limited
Room 1301-5, 13/F, Kornhill Metro Tower, 1 Kornhill Road, Hong Kong

Owner's Address for Service:

Deacons
3rd - 7th, 14th & 29th Floors, Alexandra House, Central, Hong Kong

Agent's Address:

3rd - 7th, 14th & 29th Floors, Alexandra House, Central, Hong Kong

Class No.:

28

Specification:

Class 28
toys, dolls, games and puzzles; all included in Class 28.

Date of Registration: (D-M-Y)

30-10-2001

Actual Date of Registration: (D-M-Y)

29-05-2002

Expiry date: (D-M-Y)

30-10-2008

Historical Details:

 

Date of entry

Matters

18-07-2008

MERGER

06-05-2008

ASSIGNMENT/TRANSFER

06-05-2008

CHANGE OF NAME

28-04-2004

ASSIGNMENT/TRANSFER

29-05-2002

REGISTRATION

 

 

Settlements

 

Subject declined to disclose the detail settlements, and it is introduced that the details of settlements are to be negotiated.

 

 

Financial Information

 

The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.

 

Subject’s relevant staff Ms. Cheng rejected to disclose the financial information, from other sources we could not obtain such information, either.

 

 

Bankers

 

Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.

 

 

Public

 

Civil Litigation

 

Date:

2013-02-08

Court Name:

High Court Civil Action

Court No.:

259

Claimant:

Direct Holdings Americas Inc. 

c/o 
Howse Williams Bowers 
(a firm) 
(HCA)

Defendant:

Educational Technologies Ltd

c/o

10/F, Block C,

Seaview Estate,

2-8 Watson Road,

North Point, HK

Reason:

Commercial 

 

Mortgage Record

 

No mortgage record of subject was found.

 

 

Special Note

 

Interview Details

 

Name

Ms. Cheng

Department:

Sales Department

E-mail:

china@etllearining.com

 

 

Industry Information

 

89212--Children's picture, drawing or colouring books (kg)

Unit: HKD/000

 

 

2014.05

2014.01~2014.05

 

Quantity

Value

Quantity

Value

Imports

The Mainland of China

11,365,625

239,585

43,809,674

924,642

UK

11,891

902

63,861

5,002

Japan

300

28

967

129

South Korea

11,639

975

32,151

2,734

Singapore

128

12

3,205

265

Exports

Argentina

3,570

38

65,642

2,089

Austria

634

16

6,877

216

Australia

200,210

4,070

569,563

15,106

Belgium

90,841

2,127

477,801

12,541

Canada

562,025

8,239

1,575,015

27,604

 

External Trade Information:

 

External Merchandise Trade Aggregate Figures

Unit: HKD/ Million

 

 

Imports

Domestic Exports

Re-exports

Total exports

Year-on-year % change of Total exports

Merchandise trade balance

2011

3,764,596

65,662

3,271,592

3,337,253

+10.1

-427,343

2012

3,912,163

58,830

3,375,516

3,434,346

+2.9

-477,817

2013

4,060,717

54,364

3,505,322

3,559,686

+3.6

-501,031

2013.03

340,857

5,073

286,638

291,711

+11.2

-49,146

2013.04

332,963

4,503

285,763

290,267

+9.0

-42,696

2013.05

335,809

4,818

286,724

291,542

-1.0

-44,267

2013.06

327,309

4,476

273,161

277,637

-0.2

-49,673

2013.07

342,565

4,783

300,630

305,413

+10.6

-37,152

2013.08

347,059

4,932

302,558

307,490

-1.3

-39,570

2013.09

359,841

4,395

313,436

317,830

+1.5

-42,010

2013.10

361,196

4,458

318,686

323,144

+8.8

-38,052

2013.11

370,104

4,587

320,935

325,522

+5.8

-44,581

2013.12

365,228

4,596

306,281

310,877

0.0

-54,351

2014.01

323,436

4,299

299,157

303,456

-0.4

-19,979

2014.02

266,587

3,276

209,638

212,914

-1.3

-53,673

2014.03

351,889

5,120

296,403

301,523

+3.4

-50,365

2014.04

340,972

4,867

280,816

285,682

-1.6

-55,290

2014.05

348,323

5,299

300,673

305,973

+4.9

-42,350

2014.06

352,316

4,802

304,409

309,211

+11.4

-43,105

 

*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.

 

 

Attachment

 

10/F, Blk C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong

 

IMG_1

10/F, Blk C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong

 

IMG_2

 

10/F, Blk C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong

 

IMG_4

10/F, Blk C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong

 

IMG_3

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.41

UK Pound

1

Rs.99.03

Euro

1

Rs.79.00

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

ANK

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.