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Report Date : |
06.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MONFORTS FONG’S TEXTILE MACHINERY ( |
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Registered Office : |
Em Macau, Avenida Da Praia Grande N's 762-804,
China Plaza J8 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
20.10.2005 |
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Com. Reg. No.: |
SO 22647 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Subject is engaged in the Manufacturing and sales
of dry finishing equipments and systems |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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) |
|
|
A2 |
A2 |
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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 |
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.
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Source
: CIA |
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Company Name (in English): |
MONFORTS FONG’S TEXTILE MACHINERY (MACAO
COMMERCIAL OFFSHORE) COMPANY LIMITED |
|
Company Name (in Portuguese): |
Monforts Fong’s Textile Maquinaria
(Commercial Offshore De Macau) Limitada |
|
Supplied Name: |
Monforts Fong's Textile Machinery (Macao Commercial
Offshore) Co Ltd |
|
Trading Address: |
Em Macau, Avenida Da Praia
Grande N's 762-804, China Plaza J8 |
|
Supplied Address: |
Unit J,8/F,
Ed. China Plaza 762-804 Avenida Da praia Grande Macau |
|
Telephone Number: |
+853-2871-7013 |
|
Monforts Fong’s Textile Machinery (Macao
Commercial Offshore) Company Limited |
|
|
Registered
Address: |
Em Macau, Avenida Da Praia Grande N's 762-804,
China Plaza J8 |
|
Date of
Registration: |
2005-10-20 |
|
Business Registered Number: |
SO 22647 |
|
Legal Form: |
Private
Limited Liability Company |
|
Registered Capital: |
MOP 100,000 (USD 12,490) (As of 2014.02, 1 MOP = 0.1249 USD) |
|
Principal Activities: |
Manufacturing and sales of dry finishing equipments
and systems |
|
Staff: |
N/A |
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Listed at
Stock Exchange: |
No |
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Information Ended at: |
2014-1-24 |
Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
Subject was incorporated on 2005-10-20 with registered number SO 22647 as Private
Limited Liability Company in Macau.
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Fong’s
Projects Holding Limited |
50,000 |
50% |
|
ABT
Vermogensverwaltungs-Gesellschaft MBH |
50,000 |
50% |
|
Total |
100,000 |
100% |
Major
Shareholder Information:
|
1 |
|
|
Name: |
Fong’s
Projects Holding Limited |
|
Address: |
Tropic Isle Building,
P. O. Box 438, Road Town, Tortola, British Virgin Islands |
|
2 |
|
|
Name: |
ABT
Vermogensverwaltungs-Gesellschaft MBH |
|
Address: |
Schwalmstr.
301, 41238 Monchengladbach, Germany |
Parent Company
|
Name: |
Fong’s Projects
Holding Limited |
|
Address: |
Tropic Isle
Building, P. O. Box 438, Road Town, Tortola, British Virgin Islands |
|
Stake Interest in Subject : |
100% |
Ultimate Parent Company
|
Name: |
Fong's Industries Company Limited |
|
Address: |
8/F., 22-28 Cheung Tat Road, Tsing Yi, Hong Kong |
|
Tel: |
+852-2497-3300 |
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Fax; |
+852-2432-2552 |
|
Staff: |
About 4,900 Employees |
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Listed at Stock Exchange: |
Yes; (Public, TPE: HKG:0641) |
|
Description: |
The subject is engaged in the dyeing and finishing machines business
and stainless steel business. |
Related Companies
|
1 |
|
|
Name: |
Fong's National Engineering (Shenzhen) Co., Ltd. |
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Address: |
17-19 Lixin Road, Danzhutou Industrial Zone, Nanwan Sub-District,
Longgang District, Shenzhen City, Guangdong, PRC |
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Tel |
+86-755-8473-6288 |
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Fax: |
+86-755-8473-6154 |
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Email |
|
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2 |
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Name: |
Fong's Europe Gmbh |
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Address: |
Milchgrundstrasse 32, 74523 Schwäbisch Hall, Germany |
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Tel |
+49-791-4030 |
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3 |
|
|
Name: |
Monforts Fong's Textile Machinery Co., Ltd. |
|
Address: |
8/F., 22-28 Cheung Tat Road, Tsing Yi, Hong Kong |
|
Tel |
+852- 2449-9887 |
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Fax: |
+852-2449-9770 |
|
4 |
|
|
Name: |
Fong's National Engineering ( Thailand ) Co., Ltd. |
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Address: |
77/130 Room 1, 30/F, Unit C, Sinsathorn Tower, Klongtonsai, Klongsarn,
Bangkok, 10600, Thailand |
|
Tel |
+91-11-2811-4724 |
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5 |
|
|
Name: |
Fong's Technical Service (PVT) Ltd. |
|
Address: |
Plot Number 1,1, Community Center,Phase I, Mayapuri, New Delhi 110064 |
|
Tel |
91-11-2811-4724 |
Note: It is introduced that subejct's group has many memebers
covering all over the world, we list 5 members as subejct's related companies
for references.
Core Management
Board of Directors:
|
1 |
|
|
Name: |
Wan, Wai Yung |
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Registered Address: |
Room B, 27F, Unit 2, Manhattan Hill, Po Lun Street 1, Lai Chi Kok,
Kowloon, Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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2 |
|
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Name: |
Wong Iok Ha |
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Registered Address: |
Unit F, 26f, Quanhong Garden Fu Yuan, No. 694, Dr Sun Yatsen Avenida
de Almeida Riberio, Taipa, macau |
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Position: |
Director |
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Marital Status: |
Unmarried |
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3 |
|
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Name: |
Ji Xin |
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Registered Address: |
Room D, 26f, Unit 5, Tierra Verde, Tsing Yi, Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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4 |
|
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Name: |
Lee, Che Keung |
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Registered Address: |
Room B, 10f, Haiyinge, Riviera Gardens, Tsuen Wan, New Territories,
Hong Kong |
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Position: |
Secretary |
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Marital Status: |
Married |
Offices & Factories
|
|
Office |
|
Address: |
Em Macau, Avenida Da
Praia Grande N's 762-804, China Plaza J8 |
Premises Information
Office address:
|
Address: |
Em Macau, Avenida Da Praia Grande N's 762-804,
China Plaza J8 |
|
Owners: |
Lee Chan Wing
Francis |
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Matriz: |
72019 |
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Nature: |
Urban |
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Duration: |
-- |
Production Information
·
Subject is engaged in manufacturing of dry
finishing equipments and systems
·
Subject has factories in the mainland of China for production.
Purchase Information
The components and raw material for
production are purchased from both home and abroad.
Sales Information
·
The subject is mainly engaged in sales of dry finishing equipments and systems
·
The subject sales regions include Asia, America, Europe
·
Subject sells the product with the brand of “fong’s”
Purchase
Domestic Markets
|
Products |
Terms |
Proportion |
|
Components and
raw material |
Cash, T/T |
100% |
Overseas Markets
|
Products |
Terms |
Proportion |
|
Components
and raw material |
L/C |
100% |
Domestic Markets
|
Terms |
Proportion |
|
|
Equipments |
Cash, T/T |
100% |
Overseas Markets
|
Product |
Terms |
Proportion |
|
Equipments |
L/C |
100% |
The subject has no obligation to supply its financial statement to the
third party according to the relevant policy in Hong Kong and the only source from
which we can obtain the information is the subject itself.
We found the consolidated financial
information of subject’s ultimate parent company (Fong's Industries
Company Limited) from public files for
reference.
Unit: HKD/ 000
|
|
2012-12-31 |
2011-12-31 |
|
1,457,009 |
631,059 |
|
|
Current Assets |
1,743,213 |
1,482,307 |
|
Total Assets |
3,200,222 |
2,113,366 |
|
1,879,233 |
1,107,049 |
|
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Non- current
Liabilities |
182,629 |
13,622 |
|
Total
Liabilities |
2,061,862 |
1,120,671 |
|
Total
liabilities and Total assets |
1,138,360 |
992,695 |
|
Sales |
2,126,467 (USD 274,314,243) |
2,198,608 (USD 283,620,432) |
|
Net Income |
518,156 |
582,898 |
(As of 2014.1, 1 HKD
= 0.1290 USD)
Subject declined to disclose its bank details; from other source we
cannot obtain the relevant information, either.
|
Name: |
The Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
|
1 |
Rs.78.20 |
|
Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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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.