|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
FONG’S NATIONAL DYEING AND FINISHING
MACHINERY (MACAO COMMERCIAL OFFSHORE) COMPANY LIMITED |
|
|
|
|
Registered Office : |
Em
Macau, Avenida Da Praia Grande Nos 762-804, China Plaza G12 |
|
|
|
|
Country : |
Macau |
|
|
|
|
Financials (as on) : |
31.12.2012 (Consolidated) |
|
|
|
|
Date of Incorporation : |
12.04.2005 |
|
|
|
|
Com. Reg. No.: |
SO
20958 |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in sales
of textile machine including
piece dyeing and finishing equipment, yarn dyeing and finishing equipment,
and related accessories. |
|
|
|
|
No. of Employees : |
4,900 (Ultimate Parent Company) |
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. - 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): |
Fong’s National Dyeing And Finishing
Machinery (Macao Commercial Offshore) Company Limited |
|
Company Name (in Portuguese): |
Fong's National Maquinas De Tinturaria E Acabamentos (Commercial
Offshore De Mecau) Limiteada |
|
Supplied Name: |
Fong's National Dyeing and Finishing Machinery (Macao
Commercial Offshore) Co. Ltd |
|
Trading Address: |
Em
Macau, Avenida Da Praia Grande Nos 762-804, China Plaza G12 |
|
Supplied Address: |
Unit G, 12/F, Ed. China Plaza, 762-804 Avenida da Praia
Grande, |
|
Telephone Number: |
Notes:
The exact name and address are as above.
|
Credit
Opinion: |
Business connections are permissible. |
|
Registered Name: |
Fong’s National Dyeing And Finishing Machinery (Macao
Commercial Offshore) Company Limited |
|
Registered Address: |
Em
Macau, Avenida Da Praia Grande Nos 762-804, China Plaza G12 |
|
Date of Registration: |
2005-4-12 |
|
Business
Registered Number: |
SO
20958 |
|
Legal Form: |
Private
Limited Liability Company |
|
Registered
Capital: |
MOP 100,000 (USD 12,290) (As
of 2014.01, 1 MOP = 0.1229 USD) |
|
Principal
Activities: |
Engaged in sales
of textile machine including
piece dyeing and finishing equipment, yarn dyeing and finishing equipment,
and related accessories. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Information
Ended at: |
2014-1-6 |
Notes: Subject
declined to disclose its staff number; from other source we cannot obtain the
relevant information, either.
Subject was
incorporated on 2005-4-12 with registered number SO 20958 as Private Limited Liability Company in Macau.
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Fong’s
Manufacturers Company Limited |
100,000 |
100% |
|
Total |
100,000 |
100% |
Major Shareholder Information:
|
Name: |
Fong’s Manufacturers Company
Limited |
|
Address: |
P. O. Box 71, Craigmuir
Chambers, Road Town, Tortola, British Virgin Island |
Parent Company
|
Name: |
Fong’s Manufacturers Company Limited |
|
Address: |
P. O. Box 71, Craigmuir Chambers, Road Town, Tortola,
British Virgin Island |
|
Stake Interest in Subject : |
100% |
Ultimate Parent Company
|
Name: |
Fong's Industries Company
Limited |
|
Address: |
8/F., 22-28 Cheung Tat Road,
Tsing Yi, Hong Kong |
|
Tel: |
+852-2497-3300 |
|
Fax; |
+852-2432-2552 |
|
Staff: |
About 4,900 Employees |
|
Listed at Stock Exchange: |
Yes; (Public, TPE: HKG:0641) |
|
Description: |
The subject is engaged in the
dyeing and finishing machines business and stainless steel business. |
Related Companies
|
1. Fong's National Engineering (Shenzhen) Co., Ltd. 17-19 Lixin Road, Danzhutou Industrial Zone, Nanwan
Sub-District, Longgang District, Shenzhen City, Guangdong, PRC Postal Code 518114 Tel: (86) 755 8473 6288 Fax: (86) 755 8473 6154 E-Mail: enquiry@fongs.com
2.
Fong's National
Engineering ( Thailand ) Co., Ltd. 77/130 Room 1, 30/F, Unit C, Sinsathorn Tower,
Klongtonsai, Klongsarn, Bangkok, 10600, Thailand Tel: (66) 2 862 1088 Fax: (66) 2 862 1033 3.
Fong's Technical
Service (PVT) Ltd. Plot Number 1,1, Community Center,Phase I, Mayapuri, New
Delhi 110064 Tel: (91) 11 28114724 or (91) 11 28114725 Fax: (91) 11 28114725 4.
Fong's Europe Gmbh Milchgrundstrasse 32, 74523 Schwäbisch Hall, Germany Tel: (49) 791 403 0 Fax: (49) 791 403 166 5.
THEN Maschinen (HK)
Limited 8/F., 22-28 Cheung Tat Road, Tsing Yi, Hong Kong Tel: (852) 2495 3971 Fax: (852) 2495 3972 Email: info@then-hk.com
6.
FONG'S EUROPE GMBH Milchgrundstrasse 32, 74523 Schwäbisch Hall, Germany Tel: (49) 791 403 0 Fax: (49) 791 403 166 Email: info@fongs.eu 7.
Leefull Metallic Materials (Shenzhen) Co., Ltd. 17-19，Lixin Road,
Danzhutou Industrial Zone, Nanwan Sub-District, Longgang District, Shenzhen,
Guangdong, PRC. 8.
Goller Textile
Machinery (Shenzhen) Co., Ltd. 17-19, Lixin Road ,
Danzhutou Industrial Zone, Nanwan Sub-District, Longgang District, Shenzhen
City, Guangdong, PRC. Tel: (86) 755
8441 9283 Fax: (86) 755 8441
9262 9.
Monforts Fong's
Textile Machinery Co., Ltd. 8/F., 22-28 Cheung Tat Road, Tsing Yi, Hong Kong Tel: (852) 2449 9887 Fax: (852) 2449 9770 10.
Tycon Alloy Industries
(Hong Kong ) Co., Ltd. 8/F, 22-28 Cheung Tat Road. Tsing Yi, Hong Kong Tel: (852) 2449 9240 Fax: (852) 2436 9872 |
|
11.
|
Note: It is introduced that
subejct's group has many memebers covering all over the world, we list 10 members
as subejct's related companies for references.
Core Management
Management as of 2014-1-6
Board of Directors:
|
1 |
|
|
Name: |
Wan, Wai Yung |
|
Registered Address: |
Flat B, 27/F, Tower 2,Manhattan Hill, Po Lun St, Lai Chi
Kok, Kowloon, Hong Kong |
|
Position: |
Director |
|
Sexuality: |
Male |
|
Marital Status: |
Married |
|
2 |
|
|
Name: |
Leung, Sheung Wai |
|
Registered Address: |
Flat G, 20/F, Block 3, Majestic Park, No.11 Farm Rd,
Kowloon, Hong Kong |
|
Position: |
Director |
|
Sexuality: |
Male |
|
Marital Status: |
Married |
|
3 |
|
|
Name: |
He, Fengxian |
|
Registered Address: |
Flat F, 13/F, The Harbourside Tower 3, Austin Rd W,
Kowloon, Hong Kong |
|
Position: |
Director |
|
Sexuality: |
Female |
|
Marital Status: |
Married |
|
4 |
|
|
Name: |
Ji Xin |
|
Registered Address: |
Flat D, 16/F, Block 5, Qing Yi Ying Cui Ban Dao, Em Macau |
|
Position: |
Director |
|
Sexuality: |
Male |
|
Marital Status: |
Married |
|
5 |
|
|
Name: |
Lee, Che Keung |
|
Registered Address: |
Flat B, 10 F, Riviera Gardens Hoi Ngan Mansion, Tsuen
Wan, New Territories, Hong Kong |
|
Position: |
Secretary |
|
Sexuality: |
Male |
|
Marital Status: |
Married |
|
6 |
|
|
Name: |
Fong, Sou Lam |
|
Registered Address: |
No |
|
Position: |
Authorizer |
|
Sexuality: |
Male |
|
Marital Status: |
Married |
|
7 |
|
|
Name: |
Yang, Xiao Jian |
|
Registered Address: |
Room A, 8/F, No. 83, The Palace, Broadcast Dr, Kowloon
Tong, Hong Kong |
|
Position: |
Authorizer |
|
Sexuality: |
Male |
|
Marital Status: |
Married |
Offices & Factories
|
|
Office |
|
Address: |
Em Macau, Avenida Da Praia
Grande Nos 762-804, China Plaza G12 |
Premises Information
Office address:
|
Address: |
Em
Macau, Avenida Da Praia Grande Nos 762-804, China Plaza G12 |
|
Owners: |
Companhia
De Empreendimentos Marsul, Limitada |
|
Matriz: |
72019 |
|
Nature: |
Urban |
l
The
subject is a trader of textile machine without any production activities.
Purchase Information
l
It is introduced that subject purchases its products
from its group’s factories in China.
Sales Information
l
The subject is mainly engaged in sales of textile machine
l
It is
introduced that subject’s major products include piece dyeing and finishing
equipment, yarn dyeing and finishing equipment, and the related accessories.
l
It is
introduced that subject’s selling territory covering Asia, America, Europe and
etc.
l
It is
introduced that subject’s major customers are manufacturers of textiles.
Purchase
1.
Domestic Purchase
|
Products |
Textile
machine and etc. |
|
Payment |
COD, CBD and etc. |
2.
Import
The subject has little import.
Sales
1.
Domestic Markets
|
Products |
Textile machine
and etc. |
|
Payment |
COD, CBD and etc. |
2.
Export
|
Products |
Textile
machine and etc. |
|
Payment |
CBD and etc. |
The subject has no obligation to supply its financial
statement to the third party. However, Mr. Cheung declines any information to
us unless we can supply the details of inquirer.
We found the consolidated financial
information of subject’s ultimate parent company (Fong's Industries Company Limited) from public files
for reference.
Unit: HKD/ 000
|
|
2012-12-31 |
2011-12-31 |
|
1,457,009 |
631,059 |
|
|
Current Assets |
1,743,213 |
1,482,307 |
|
Total Assets |
3,200,222 |
2,113,366 |
|
1,879,233 |
1,107,049 |
|
|
Non- current Liabilities |
182,629 |
13,622 |
|
Total Liabilities |
2,061,862 |
1,120,671 |
|
Total liabilities and Total assets |
1,138,360 |
992,695 |
|
Sales |
2,126,467 (USD
274,314,243) |
2,198,608 (USD 283,620,432) |
|
Net Income |
518,156 |
582,898 |
(As of 2014.1, 1 HKD =
0.129 USD)
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
|
Name: |
Mr. Cheung |
|
Department: |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.99 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.