MIRA INFORM REPORT

 

 

Report Date :

10.07.2014

 

IDENTIFICATION DETAILS

 

Name :

WELLDAY INTERNATIONAL LTD.

 

 

Registered Office :

c/o Richful Deyong Corporate Management Ltd.

Room 1105, Lippo Centre Tower 1, 89 Queensway, Admiralty

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

19.03.1997

 

 

Com. Reg. No.:

20798982

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Dissolved by the Deregistration

Payment Behaviour :

--

Litigation :

--

 

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 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Hong Kong

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

 

WELLDAY INTERNATIONAL LTD.

 

 

ADDRESS

 

Registered Office:-

c/o Richful Deyong Corporate Management Ltd.

Room 1105, Lippo Centre Tower 1, 89 Queensway, Admiralty, Hong Kong.

 

Associated Companies:-

Heyuan Hui Yi Electronic Factory, China.

Tri Mark Century (Shenzhen) Electronic Co. Ltd., China.

Tri-Mark Enterprise Co., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

20798982

 

 

COMPANY FILE NUMBER

 

0599662

 

 

DATE OF INCORPORATION

 

 19th March, 1997.

 

 

ISSUED CAPITAL

 

HK$499,998.00

 

 

SHAREHOLDERS

 

(As per registry dated 19-03-2004)

Name

 

No. of shares

WONG Shuk Fong

 

166,666

LUI Siu Keung

 

166,666

LUI Chun Keung

 

166,666

 

 

–––––––

 

Total:

499,998

======

 

 

DIRECTORS

 

(As per registry dated 19-03-2004)

Name

(Nationality)

 

Address

LUI Siu Keung

Flat 1-5, 32/F., Enterprise Square Two, 3 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong.

 

LUI Chun Keung

Flat 1-5, 32/F., Enterprise Square Two, 3 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong.

 

WONG Shuk Fong

Flat 1-5, 32/F., Enterprise Square Two, 3 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong.

 

 

SECRETARY

 

WONG Shuk Fong  (As per registry dated 19-03-2004)

 

 

HISTORY

 

The subject was incorporated on 19th March, 1997 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at “Flat 1-5, 32/F., Enterprise Square Two, 3 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong”, moved to “Room 1105, Lippo Centre Tower 1, 89 Queensway, Admiralty, Hong Kong” in June 2004.  The new address was the operating office of a secretarial company Richful Deyong Corporate Management Ltd. as it had applied for deregistration since then.

The subject was dissolved by deregistration formally on 21st October, 2004.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

GENERAL

 

Please be advised that Wellday International Ltd. was a private limited company which applied for deregistration in June 2004.  It was formally deregistered on 21st October, 2004, the date of the publication of Gazette Notice No. 6741.  The subject was accordingly dissolved by deregistration.

According to the Companies Registry of Hong Kong, the subject had issued 499,998 ordinary shares which were equally owned by Ms. Wong Shuk Fong, Mr. Lui Siu Keung and Mr. Lui Chun Keung.  All were Hong Kong merchants and directors of the subject.

The subject moved to “Room 1105, Lippo Centre Tower 1, 89 Queensway, Admiralty, Hong Kong” in June 2004, where was the operating office of a secretarial company Richful Deyong Corporate Management Ltd. as the subject had applied for deregistration since then.

Your given phone number 852-2543 0881 does not belong to the subject.  This number belongs to a logistic service provider in Hong Kong.

The subject had associated companies in Hong Kong and China.  One of the associated companies was known as Tri-Mark Enterprise Co. [Tri-Mark].  Tri-Mark is still in operation in Hong Kong.  It has been a market leader and professional manufacturer in Cable and Connector industries in China for around 25 years.  Tri-Mark has a factory in Heyuan City, Guangdong Province, China known as “Heyuan Hui Yi Electronic Factory (China)” which is 100% owned by Tri-mark.

The subject was dissolved by deregistration formally on 21st October, 2004.

Since the subject has been dissolved by deregistration, consider it not suitable for any business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.73

UK Pound

1

Rs.102.36

Euro

1

Rs.81.38

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

NNA

 

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.