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Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
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Name : |
WINCHAIN LTD. |
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Registered Office : |
c/o WinGate Business Ltd. Room 2305A, 23/F., World-Wide House, 19 Des Voeux Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
26.05.1992 |
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Com. Reg. No.: |
15749419 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER AND EXPORTER OF ALL KINDS OF LIGHTING PRODUCTS |
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No. of Employees : |
03 |
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
|
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 |
WINCHAIN LTD.
ADDRESS: Room 1202-A, 12/F., Wah Yiu Industrial Centre, 30-32 Au Pui Wan Street, Fotan, Shatin, New Territories, Hong Kong.
PHONE: 852-2709 0238
FAX: 852-2772 4398
E-MAIL: info@winchain-led.com
Managing Director: Mr. Chan Yuk Sang
Incorporated on: 26th May, 1992.
Organization: Private Limited Company.
Capital: Nominal:HK$10,000.00
Issued: HK$3.00
Business Category: Lighting Product Trader.
Employees: 3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o WinGate Business Ltd.
Room 2305A, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong.
Operating Office:-
Room 1202-A, 12/F., Wah Yiu Industrial Centre, 30-32 Au Pui Wan Street, Fotan, Shatin, New Territories, Hong Kong.
15749419
0358747
Managing Director: Mr. Chan Yuk Sang
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$3.00
SHAREHOLDERS: (As per registry dated 26-05-2013)
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Name |
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No. of shares |
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CHAN Yuk Sang |
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1 |
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HO Heung Ying, Lilian |
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1 |
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CHAN Yuen Ming, Anthony |
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1 |
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– |
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Total: |
3 = |
DIRECTORS: (As per registry dated 26-05-2013)
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Name (Nationality) |
Address |
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HO Heung Ying, Lilian |
Room 1610, 16/F., Fu Yat House, Fu Keung Court, Junction Road, Kowloon, Hong Kong. |
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CHAN Yuen Ming, Anthony |
Room 1610, 16/F., Fu Yat House, Fu Keung Court, Junction Road, Kowloon, Hong Kong. |
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CHAN Yuk Sang |
Room 1610, 16/F., Fu Yat House, Fu Keung Court, Junction Road, Kowloon, Hong Kong. |
SECRETARY: CHAN Yuk Sang
(As per registry dated 26-05-2013)
The subject was incorporated on 26th May, 1992 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter.
Lines: All kinds of lighting products,
Employees: 3.
Commodities Imported: China, Europe, etc.
Markets: Hong Kong, Japan, other Asian countries, Europe, etc.
Terms/Sales/Services: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$3.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Winchain Ltd. was incorporated in May 1992 as a private limited liability company.
The subject’s registered office is in a commercial service firm located at Room 2305A, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong known as WinGate Business Ltd. which is handling its correspondences and documents.
The subject’s operating office and showroom are located at Shatin, New Territories, Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued just three ordinary shares of HK$1.00 each which are equally-owned by Mr. Chan Yuk Sang, Ms. Ho Heung Ying, Lilian and Mr. Chan Yuen Ming, Anthony. Being Hong Kong merchants, they are also directors of the subject.
The contact person of the subject Mr. Chan Yuk Sang, Dominic can be reached at his Hong Kong mobile phone number 852-9439 3894.
The subject is trading in all kinds of lighting products.
LED bulb - MR16, GU10, E14, E27, G4, G9, candle and ball type, PAR30 & PAR38 (dimmable & non-dimmable);
LED track light;
LED ceiling / down light;
LED flood light;
LED high bay lamp;
LED T8 & T5 tube;
LED exit / emergency sign;
LED lighting panels for office & advertisement display; &
Architectural Light for underwater & garden.
The subject’s associated factories are in China. Products are marketed in Hong Kong, exported to Australia, Central & South America, North America, Europe, Asian countries, etc.
Its associated factories are in Foshan, Dongguan and Shenzhen Special Economic Zone, China, having a team of some 600 workers occupying plant areas of some 150,000 square feet.
The subject is also an agent for China and other foreign branded products.
Over the past years, the subject was engaged in the following projects:-
One, Two & Three Exchange Square- Chater House
York House
Jardine House
Gloucester Tower & Edinburgh Tower
Cityplaze One, Three & Four
Devon House
Dorset House
Lincoln House
Oxford House
Warwick House
Somerset House
As the history of the subject is over 22 years in Hong Kong, on the whole, 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.61.39 |
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1 |
Rs.98.00 |
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Euro |
1 |
Rs.76.99 |
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.