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Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
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Name : |
CHUNG SHUN LAMINATES (MACAO COMMERCIAL OFFSHORE) LIMITED |
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Registered Office : |
Em Macau, Avenida Da Praia Grande No. 599, Comercial Rodrigues, 3F, Room B |
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Country : |
Macau |
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Date of Incorporation : |
01.04.2005 |
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Com. Reg. No.: |
SO 20907 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing financial files handling for relate
company. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Macau |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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. - In 2013, Macau's gaming-related
taxes accounted for more than 85% of total government revenue. Macau''s economy
slowed dramatically in 2009 as a result of the global economic slowdown, but
strong growth resumed in 2010-13, largely on the back of tourism from mainland
China and the gaming sectors. In 2013, this city of 607,500 hosted nearly 29.3
million visitors. Almost 64% 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 2013, exports
were US$1.1 billion, while gaming receipts were US$45.2 billion, an 18.6%
increase over 2012. Macau''s economy expanded by 11.9% in 2013; 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 (in
English): |
Chung Shun
Laminates (Macao Commercial Offshore) Limited |
|
Company Name (in
Portuguese): |
Companhia Chung Shun
Tabuas Laminadas (Comercial Offshore De Macau) Limitada |
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Supplied Name: |
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Trading Address: |
Em Macau, Avenida Da Praia Grande No. 599, Comercial Rodrigues, 3F,
Room B |
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Supplied
Address: |
Av da praia grande No 599 Edificio Commercial Rodrigues 3rd Andar B |
|
Telephone
Number: |
Note: The exact name
and address are as above.
|
Registered Name: |
CHUNG SHUN LAMINATES (MACAO COMMERCIAL OFFSHORE) LIMITED |
|
Registered Address: |
Em Macau, Avenida Da Praia Grande No. 599, Comercial Rodrigues, 3F,
Room B |
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Date of Registration: |
2005-4-1 |
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Business Registered Number: |
SO 20907 |
|
Legal Form: |
Private Limited Liability Company |
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Registered Capital: |
MOP 100,000 (USD 12,310) (As of 2014.06, 1 MOP = 0.1231 USD) |
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Principal Activities: |
Providing financial files handling for relate
company. |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
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Information Ended at: |
2014-6-9 |
Note: Subject declined
to disclose the number of staff, and from other source we cannot obtain the
information, either.
Subject was incorporated on 2005-4-1 with registered
number SO 20907 as Private Limited Liability Company in Macau.
|
Subscription
Amount |
Proportion of
Investment (%) |
|
|
Excel First Investments Limited |
100,000 |
100% |
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Total |
100,000 |
100% |
Major Shareholder Information:
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Name: |
Excel First Investments Limited |
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Address: |
PO Box 957, Offshore Incorporations Centre, Rd. Town, Tortola, British
Virgin Islands |
Core Management
Information of
Management:
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1 |
|
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Name: |
Cheung Kwok Wing |
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Address: |
Block B, Jin’an Garden, No. 12-20, Ma’an Jing, Jiudu Shan, Shatian,
NT, Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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2 |
|
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Name: |
Cheung Kwok Keung |
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Address: |
Flat A, 5F, Blk. 6, Villa Rhapsody, Symphony Bay, Sai Kung, em Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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3 |
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Name: |
Cheung Kwok Wa |
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Address: |
Room B, Yunding Tower 1, Block 7, No. 68, Meitian Rd., Dawei, Shatian,
NT, HK |
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Position: |
Director |
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Marital Status: |
Married |
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4 |
|
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Name: |
Cheung Kwok Ping |
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Address: |
Flat A, 28F, Blk. 3, Baycrest, Hang Ming Street, Ma On Shan, NT, HK |
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Position: |
Director |
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Marital Status: |
Married |
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5 |
|
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Name: |
Chan Wing Kwan |
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Address: |
Flat A, 8F, 3 Lok Fung Path, Claymore Garden, Shatin, NT, Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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Authorized
Signatures |
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Any one of the above directors can sign on behalf of the subject with
seal affixed. |
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Offices &
Factories
|
|
Office |
|
Address: |
Em Macau, Avenida Da Praia Grande No. 599,
Comercial Rodrigues, 3F, Room B |
Premises
Information
Office address:
|
Address: |
Em Macau, Avenida Da Praia Grande No. 599, Comercial Rodrigues, 3F,
Room B |
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Owners: |
F Rodrigues Sucessores, Limitada |
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Matriz: |
73199 |
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Nature: |
Urban |
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Duration: |
Since 1997 |
Operation
Information
·
Subject is engaged in financial files handling and
providing logistic service for its related company in Shenzhen City, Mainland
China and they don’t take orders.
·
It is introduced that the customers should be
connected with its Mainland China Company directly.
·
Subject’s related company in Mainland China is
engaged in sale of laminates
·
It is introduced that the selling territory of
subject’s related company covers domestic market, Southeast Asia, USA, North
America, Europe
Since subject is engaged in financial files handling without sales
business, the settlement information is not available.
It is introduced that the details of settlements are to be negotiated.
Subject has no obligations to disclose its financial
statements to the third party according to the relevant policy in Macau and the
only source from which we can obtain the information is the subject itself.
Subject’s relevant staff declined to disclose
its financials citing the grounds of company’s confidentiality; from other
source we cannot obtain the relevant information, either.
Subject declined to disclose any information about
bankers, and we can not obtain the information from other source.
|
Name: |
Ms. Chen |
|
Department: |
Financial Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
|
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.81.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.