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Report Date : |
10.11.2014 |
IDENTIFICATION DETAILS
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Name : |
PERFECT MARBLE CO. LTD. |
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Registered Office : |
Unit 3606, 36/F., Wu Chung House, 213 Queen’s Road East, Wanchai, |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.10.1981 |
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Com. Reg. No.: |
07541411 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Suppliers; Marble Fitting Construction Work and all kinds of marble & granite slabs |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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
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Source
: CIA |
PERFECT MARBLE
CO. LTD.
ADDRESS: Unit 3606, 36/F., Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong.
PHONE: 852-2677 0233
FAX: 852-2191 1768, 2919 1717
E-MAIL: marketing@perfectmarble.com.hk
Managing Director: Mr. Ko Chung Lun
Incorporated on: 9th October, 1981.
Organization: Private Limited Company.
Issued Shares Capital: HK$50,000,000.00
Business Category: Trading in marble & granite slabs.
Employees: 20.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 3606, 36/F., Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong.
Holding Company:-
Wide Ocean Investments Ltd.
The Premises of Commonwealth Trust Ltd., Drake Chambers, Tortola, British Virgin Islands.
Associated Companies:
Best Cheer (Quanzhou) Logistics Co. Ltd., China.
Best Cheer (Xiamen) Stone Works Co. Ltd., China.
Best Cheer Africa Stone Co. Ltd., Namibia.
Best Cheer Development Ltd., Hong Kong.
Best Cheer Environmental Technology Co. Ltd., China.
Best Cheer New Styled Construction Co. Ltd., China.
Best Cheer Stone (Shanghai) Co. Ltd., China.
Best cheer Stone (Tianjin) Co. Ltd., China.
Best Cheer Stone Inc., USA.
China Marble (H.K.) Ltd., Hong Kong.
Dongguan You Lian Construction & Materials Co. Ltd., China.
Miyi County Yutian Mining Co. Ltd., China.
Shenzhen Lianyi Decoration Engineering Co. Ltd., China.
Yu Do Estates Ltd., Hong Kong.
Yu Do Investment Holdings Ltd., Hong Kong.
Yu Do Marble Co. Ltd., Hong Kong.
Yu Tian Stone (Shenzhen) Co. Ltd., China.
Zhong Lei Stone (Chengde) Co. Ltd., China.
Zhong Lei Stone (Rongcheng) Co. Ltd., China.
07541411
0103903
Managing Director: Mr. Ko Chung Lun
Deputy General Manager: Ms. Li Sau Lin
ISSUED SHARES
CAPITAL: HK$50,000,000.00
SHAREHOLDERS: (As per registry dated 09-10-2014)
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Name |
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No. of shares |
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Wide Ocean Investments Ltd. The Premises of Commonwealth Trust Ltd., Drake Chambers, Tortola, British Virgin Islands. |
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4,999,975 |
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KO Yu Man |
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25 |
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‑‑‑‑‑‑‑‑‑‑‑‑‑ |
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Total: |
5,000,000 ======= |
DIRECTORS: (As per registry dated 09-10-2014)
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Name (Nationality) |
Address |
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LI Sau Lin |
Unit 3606, 36/F., Wu Chung Hose, 213 Queen’s Road East, Wanchai, Hong Kong. |
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KWONG Choi Kuen |
Unit 3606, 36/F., Wu Chung Hose, 213 Queen’s Road East, Wanchai, Hong Kong. |
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CHEUNG Wai Man |
Unit 3606, 36/F., Wu Chung Hose, 213 Queen’s Road East, Wanchai, Hong Kong. |
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KO Yu Man |
Suite 2319, 23/F., Convention Plaza Apartment, 1 Harbour Road, Wanchai, Hong Kong. |
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KO Chung Lun |
Suite 2319, 23/F., Convention Plaza Apartment, 1 Harbour Road, Wanchai, Hong Kong. |
SECRETARY: (As per registry dated 09-10-2014)
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Name |
Address |
Co. No. |
|
Wisdom Faith Consultancy Ltd. |
Unit B, 17/F., JCG Building, 16 Mongkok Road, Kowloon, Hong Kong. |
0640008 |
The company was incorporated on 9th October, 1981 as a private limited liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Kwok Wai Co. Ltd. and changed to the present style on 1st December, 1981.
The subject moved to Suite 2901, 29/F., Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong from 9/F., Centre Point, 181‑185 Gloucester Road, Wanchai, Hong Kong with effect from 24th April, 1999.
The subject moved to the present address in September 2001.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: and Suppliers; Marble Fitting Construction Work.
Lines: All kinds of marble & granite slabs.
Employees: 20.
Commodities Imported: Mainly imported from Italy, Portugal, Brazil, Africa, India, etc.
Markets: Hong Kong, China, other Asian countries, etc.
Terms/Sales: COD or as per contracted.
Terms/Buying: Various terms.
Issued Share Capital: HK$50,000,000.00
Mortgage or Charge:-
Date of Master Agreement: 03-01-2011
Amount: All moneies and liabilities due by the company
Property: Any sum or sums which are deposited by the company with chargee
Mortgagee: Taipei Fubon Commercial Banking Corporation Ltd., Hong Kong Branch.
Profit or Loss: Business is profitable.
Condition: Keeping in an active and satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers:-
Standard Chartered Bank, Hong Kong Branch.
Taipei Fubon Commercial Banking Corporation Ltd., Hong Kong Branch.
Chiyu Banking Corporation Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Perfect Marble Co. Ltd. is a subsidiary company of Wide Ocean Investments Ltd. which is a BVI-registered company.
Now, the subject is chiefly owned by the Ko family. Now the Ko family has set up Best Cheer Stone Group [Best Cheer] while the subject is one of the core members.
The subject is engaged in the processing and marketing marble and granite products. It is also a specialist in marble and granite installation works in Hong Kong and China.
Best Cheer was founded in China in 1994. Now, Best Cheer has grown into the world’s largest vertically integrated stone company with 4,500 employees worldwide.
Best Cheer started its expansion into the US market in 2003, with the purchase of the famous Solar White quarry in North Carolina.
Best Cheer Stone, Inc. (BCS), a wholly-owned subsidiary of Best Cheer, was established in 2004 to be the factory-direct distributors at both West Coast and East Coast in the United States.
BCS supplies a wide range of products including slabs (2 cm & 3 cm), pre-fabricated countertops, cut-to-size products for various commercial projects, façade panels and tiles.
Today, BCS is also the leading distributor of African range marble and granite in the Northern America from our newly acquired quarries in Namibia, Africa.
The Group is supported by its 10 factories in China and 25 quarries worldwide.
BCS is a member of the Marble Institute of America and the Building Stone Institute.
Best Cheer Group has introduced the global advanced fabricating equipment as many as 1,000 sets, and built the world’s most advanced and the most completed complex stone assembling line in China.
Best Cheer Group has spread over 70 countries and places worldwide. It was engaged in large project such as the Las Vegas Wynn Hotel in the United States, the Hamburg airport in Germany, Australian ASX Financial Center, The Atlantis Hotel in Dubai, The Presidential Mansion in Uzbekistan, The Poly Building in Beijing, The Time Square in Hong Kong, etc. Its business is good and active.
Ms. Li Sau Lin, aged 51, joined the subject in February 1992 and was appointed as Executive Director of the subject in December 1993. Ms. Li graduated from the University of Ottawa, Canada, in 1986 and holds a Bachelor of Social Science degree in Economics. She oversees the Group’s marble business and has over 26 years’ experience in the field. She is also one of the Directors of the subject.
The history of the subject in Hong Kong is over 33 years.
On the whole, in view of the parentage of the subject, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.52 |
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1 |
Rs.97.39 |
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Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.