|
Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
IU FONG INTERNATIONAL-TRADING COMPANY LIMITED |
|
|
|
|
Registered Office : |
Avenida Da Praia Grande, No 409, Edificio China
Law Building, 23 Andar C, Em |
|
|
|
|
Country : |
Macau |
|
|
|
|
Date of Incorporation : |
23.09.1998 |
|
|
|
|
Com. Reg. No.: |
SO 12938 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Importing and exporting business and real estate investment. |
|
|
|
|
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 |
|
Payment Behaviour : |
Unknown |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
|
IU
FONG INTERNATIONAL-TRADING COMPANY LIMITED |
|
|
Company Name (in
Portuguese): |
Iu Fong
Internacional – Sociedade De Importacao E Exportacao, Limitada |
|
Supplied Name: |
|
|
Supplied
Address: |
23/F EDIFICIO CHINA LAW BLDG 409 AVENIDA DA PRAIA GRANDE Macao (China) |
We tried to contact with the subject through the
supplied telephone number + 853-2835-5108, the lady who answered the phone told
us that her company is not our subject and she never know the supplied name,
and she also introduced that her company is not at our supplied address.
According to the supplied name and address, we can not
find any operation information or other valid contact information of subject.
We found subject’s
registration information as follows for reference.
|
Registered Name: |
IU FONG
INTERNATIONAL-TRADING COMPANY LIMITED |
|
Registered Address: |
Avenida Da Praia Grande, No 409, Edificio China Law
Building, 23 Andar C, Em Macau |
|
Date of Registration: |
1998-9-23 |
|
Business Registered Number: |
SO 12938 |
|
Legal Form: |
Private Limited Liability Company |
|
Registered Capital: |
MOP 30,000 (USD 3,687) (As of 2014.07, 1 MOP = 0.1229 USD) |
|
Principal Activities: |
N/A |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Information Ended at: |
2014-10-24 |
Notes: Since we didn’t contact subject successfully, the principal
activities and staff number are not available from any sources.
Subject was incorporated on 1998-9-23 with registered
number SO 12938 as Private Limited Liability
Company in Macao.
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Chin, Kuong Chu |
14,000 |
47% |
|
Chin, Kuong Meng |
16,000 |
53% |
|
Total |
30,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Chin, Kuong Chu |
|
Address: |
Flat K, 24/F, Li Cai Ge, Tower 3, Tai Zi Hua Cheng, Nanjing Street,
Dang Zai, Macau |
|
2 |
|
|
Name: |
Chin, Kuong Meng |
|
Address: |
Flat F, 24/F, Li Liang Ge, Tower 2, Tai Zi Hua Cheng, Ge Ying Bu La
Jie, Dang Zai, Macau |
Core Management
Board of
Directors:
|
1 |
|
|
Name: |
Chin, Kuong Chu |
|
Address: |
Flat K, 24/F, Li Cai Ge, Tower 3, Tai Zi Hua Cheng, Nanjing Street,
Dang Zai, Macau |
|
Position: |
Manager |
|
2 |
|
|
Name: |
Chin, Kuong Meng |
|
Address: |
Flat F, 24/F, Li Liang Ge, Tower 2, Tai Zi Hua Cheng, Ge Ying Bu La
Jie, Dang Zai, Macau |
|
Position: |
Manager |
From the
registration files, we found subject’s registered activities are as following:
Importing and exporting business and real estate investment.
Since we were failed to contact with the subject, the above information
cannot be confirmed by the subject.
Premises
Information
Office address:
|
Address: |
Avenida Da Praia Grande, No 409, Edificio China
Law Building, 23 Andar C, Em Macau |
|
Owners: |
Lok Ut Fan |
|
Matriz: |
73058 |
|
Nature: |
Urban |
Since we didn’t contact subject successfully, the settlement information
is not available from any sources.
The subject has no obligation to supply its financial statement to the
third party according to the relevant policy in Macao and the only source from
which we can obtain the information is the subject itself.
Since we didn’t contact subject successfully, the financial information
is not available from any sources.
Since we didn’t contact subject successfully, the bank information is
not available from any sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.