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Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
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Name : |
FONG’S NATIONAL DYEING AND FINISHING MACHINERY (MACAO COMMERCIAL OFFSHORE) COMPANY LIMITED |
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Registered Office : |
Em Macau, Avenida Da Praia Grande NºS 762-804, China Plaza G12 |
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Country : |
Macau |
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Date of Incorporation : |
12.04.2005 |
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Com. Reg. No.: |
SO 20958 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing daily files handling
services. |
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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 |
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Status : |
Moderate |
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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) |
|
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 (Comercial Offshore De Macau) Limitada |
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Supplied Name: |
Fong’s National Dyeing and Finishing
Machinery (Macao Commercial Offshore) Co., Ltd |
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Trading Address: |
Em Macau, Avenida Da Praia Grande NºS
762-804, China Plaza G12 |
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Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
Note: The exact name and address are as above.
|
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 |
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Date
of Registration: |
2005-4-12 |
|
Business Registered Number: |
SO 20958 |
|
Legal Form: |
Private Limited
Liability Company |
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Registered Capital: |
MOP 100,000 (USD 12,260) (As of 2014.09, 1 MOP = 0.1226 USD) |
|
Principal Activities: |
Providing daily files handling services. |
|
Staff: |
N/A |
|
Listed at Stock
Exchange: |
No |
|
Information Ended at: |
2014-8-22 |
Notes: Subject
declined to disclose the number of staff, and we cannot obtain the information
from other source.
Subject was
incorporated on 2005-4-12
with registered number SO 20958 as Private Limited Liability
Company in Macao.
Related Company
|
Name: |
Fong's
Industries Company Limited |
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Address: |
8/F., 22-28
Cheung Tat Road, Tsing Yi, Hong Kong |
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Tel: |
+852-2497-3300 |
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Fax: |
+852-2432-2552 |
Group Offices
|
1 |
|
|
Name: |
Shenzhen Office |
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Address: |
17-19, Lixin Road,
Danzhutou Industrial Zone, Nanwan Sub-District, Longgang District, Shenzhen,
Guangdong, PRC |
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Tel: |
+86-755-8473-6288 |
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Fax: |
+86-755-8473-6154 |
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2 |
|
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Name: |
European Office |
|
Address: |
Milchgrundstrasse
32, 74523 Schwäbisch Hall, Germany |
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Tel: |
+49-791-403-0 |
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Fax: |
+49-791-403-166 |
|
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 Islands |
Core Management
Board of Directors:
|
1 |
|
|
Name: |
Wan Wai Yung |
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Address: |
Room B, 27F, Block
2, Manhattan Hill, Lai Chi Kok, Kowloon, Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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Gender: |
Male |
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2 |
|
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Name: |
Leung Sheung Wai |
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Address: |
No. 11, Farm
Rd., Kowloon, Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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Gender: |
Male |
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3 |
|
|
Name: |
He Feng Xian |
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Address: |
No. 1, Austin
Road West, Kowloon, Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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Gender: |
Female |
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4 |
|
|
Name: |
Ji Xin |
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Address: |
Macau |
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Position: |
Director |
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Marital Status: |
Married |
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Gender: |
Male |
|
5 |
|
|
Name: |
Lee Che Keung |
|
Address: |
Room B, 10 F,
Hoi Ngan Mansion, Riviera Gardens, Tsuen Wan, NT, Hong Kong |
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Position: |
Secretary |
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Marital Status: |
Married |
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Gender: |
Male |
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Authorized Signatures |
|
|
Any two of the
above directors can sign on behalf of the subject with seal affixed, or any
one of the above directors on behalf of the company name or authorizes other
person on behalf of the company name can sign on behalf of the subject with
seal affixed. |
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Offices & Factories
|
|
Office |
|
Address: |
Em Macau, Avenida Da Praia Grande NºS
762-804, China Plaza G12 |
|
Area: |
131.90 square meters |
|
Owned /Rented: |
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 |
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Nature: |
Urban
|
|
Duration: |
Since
1995 |
Operation Information
l Subject
is engaged in daily files handling
service for its related companies in Hong Kong and they don’t take orders.
l It is
introduced that the customers should be connected with its Hong Kong related
Company directly.
l Subject’s
related company in Hong Kong is engaged in sale of textile machines, etc.
l It is introduced
that the selling territory of subject’s related company covers Southeast Asia,
Europe and America, etc.
Settlements
Since subject is engaged
in files handling without sales business, the settlement information is not
available.
It is introduced
that the details of settlements are to be negotiated.
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.
Subject’s relevant staff declined to disclose the financial information;
from other sources we could not obtain such information, either.
Subject declined
to disclose its bank details; from other source we cannot obtain the relevant
information, either.
|
Name: |
Mr. Li |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.98.21 |
|
Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.