|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
FENG QIAN INTERNATIONAL TRADING COMPANY LIMITED |
|
|
|
|
Registered Office : |
Em macau, Rua De Pequim No.174, Centro Comercial Kuing Fat D10 |
|
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Country : |
Macau |
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|
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Date of Incorporation : |
21.11.2007 |
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Com. Reg. No.: |
SO 29507 |
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|
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Unknown |
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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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
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 |
Note: The exact name is as above.
We cannot find subject’s any operation information
or valid contact information in Macau through public files according to
supplied name.
According to the supplied address, we tried to
contact subject through the phone number +853-2870-7366 which we obtained from public files. Ms. Zhou answered it
and introduced that her company called Cheong Sio Tong Accounting Firm which is engaged in
providing registered and accounting service and the supplied address belongs to
her company. She also introduced that subject is one of her company’s customers
and just registered in Macau and didn’t have office staff. But she declined to
disclose any other information about subject.
As subject’s registered address is that of an
accounting firm and we didn’t find subject’s business entity either in Macau,
based on subject’s registered files and our investigation, we consider subject
as an offshore company.
We found subject’s registered files from local
registry, supplying as following for reference.
|
Registered
Name: |
Feng Qian
International Trading Company Limited |
|
Registered
Address: |
Em macau, Rua De Pequim No.174, Centro
Comercial Kuing Fat D10 |
|
Date
of Registration: |
2007-11-21 |
|
Business Registered Number: |
SO 29507 |
|
Legal Form: |
Private
Limited Liability Company |
|
Registered Capital: |
MOP 100,000 (USD
12,290) (As of 2014.05, 1 MOP = 0.1229 USD) |
|
Listed at Stock
Exchange: |
No |
|
Information Ended at: |
2014-5-22 |
Subject was
incorporated on 2007-11-21
with registered number SO 29507
as Private Limited Liability Company in Macau.
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Lidan
Lin |
30,000 |
30% |
|
Xizeng
Zheng |
70,000 |
70% |
|
Total |
100,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Lidan
Lin |
|
Address: |
No.54,
Fuzhou Village, Fuzhou, Hedong Town, Lufeng City, Guangdong Province, China |
|
2 |
|
|
Name: |
Xizeng
Zheng |
|
Address: |
Room
206, No.100, Ju-an Li, Shiqi District, Zhongshan City, Guangdong Province,
China |
Management Information
Board of
Directors:
|
1 |
|
|
Name: |
Lidan
Lin |
|
Address: |
No.54,
Fuzhou Village, Fuzhou, Hedong Town, Lufeng City, Guangdong Province, China |
|
Position: |
Director |
|
Gender: |
Female |
|
Marital Status: |
Single |
|
2 |
|
|
Name: |
Xizeng
Zheng |
|
Address: |
Room
206, No.100, Ju-an Li, Shiqi District, Zhongshan City, Guangdong Province,
China |
|
Position: |
Director |
|
Gender: |
Male |
|
Marital Status: |
Married |
|
Authorized Signatures |
|
|
Any
one of the above directors can sign on behalf of the subject with seal affixed. |
|
Offices & Factories
|
|
Office |
|
Registered
Address: |
Em macau, Rua De
Pequim No.174, Centro Comercial Kuing Fat D10 |
|
Area: |
90.17 square meters |
Registered address:
|
Address: |
Em macau, Rua De Pequim No.174, Centro
Comercial Kuing Fat D10 |
|
Owners: |
Cheong
Sio Tong and his wife Mulher Sou Soi Leng |
|
Matriz: |
71742 |
|
Nature: |
Urban |
|
Duration: |
25
years; since 1991-4-12 |
Subject does not
have business entity in Macau.
The subject has no obligation to supply its financial statement 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 does not have business entity in Macau, thus we cannot obtain the
relevant information.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
|
1 |
Rs.98.40 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.