MIRA INFORM REPORT
|
Report No. : |
352479 |
|
Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUNG FAT HANGERS & BUTTON PRODUCTS COMPANY LIMITED |
|
|
|
|
Registered Office : |
Room 12, 8/F, Kam Hon Industrial
Building, 8 Wang Kwun Road, Kowloon Bay, Kolwoon |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
08.11.1994 |
|
|
|
|
Com. Reg. No.: |
18623599 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Hangers. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONGKONG - 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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Contact Points
|
Company Name (in English): |
Hung Fat Hangers & Button Products Company Limited |
|
Supplied Name: |
Hung Fat Hangers & Button Products Co. Ltd. |
|
Trading Address: |
Room 12, 8/F, Kam Hon Industrial Building, 8
Wang Kwun Road, Kowloon Bay, Kolwoon, Hong Kong |
|
Supplied Address: |
Rm 12, 8/F, Kam Hon Ind. Bldg.,8 Wang Kwun Road., Kowloon Bay, |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 12, 8/F,
Kam Hon Industrial Building, 8 Wang Kwun Road, Kowloon Bay, Kolwoon, Hong
Kong |
|
Telephone Number: |
+852-2305-3599/2305-3965/2305-3945 |
|
Fax Number: |
+852-2798-7230 |
|
E-mail: |
|
|
Date of Registration: |
1994-11-8 |
|
Registered Number: |
496312 |
|
Business Registration No.: |
18623599 |
|
Paid-up Capital: |
HKD 300,000 (USD 38,700) = 300 Shares@ HKD
1,000 (As of 2015.12, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
69741-- Household articles and parts
thereof, n.e.s., of iron or steel (kg) |
|
Principal Activities: |
Manufacturing and sales of hangers. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-11-8 |
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
History
Subject was incorporated on 1994-11-8 with the
registered number 496312 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Factory
|
Address: |
No. 2 Fufa Street, Madi Estate, Liu Yue
Henggang, Shenzhen, Guangdong, the mainland of China |
|
Tel: |
+86 755 2850 0238 |
|
Fax: |
+86 755 2850 0465 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Yeung Kim Ching |
150 |
50% |
|
Lam Ngan Chi |
150 |
50% |
|
Total |
300 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Yeung Kim Ching |
|
Address: |
Flat D, 6/F, 242 Argyle Street, Mongkok,
Kowloon, Hong Kong |
|
2 |
|
|
Name: |
Lam Ngan Chi |
|
Address: |
Flat D, 6/F, 242 Argyle Street, Mongkok,
Kowloon, Hong Kong |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Yeung Kim Ching |
|
Address: |
Flat D, 6/F, 242 Argyle Street, Mongkok,
Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
C208381(5) |
|
2 |
|
|
Name: |
Lam Ngan Chi |
|
Address: |
Flat D, 6/F, 242 Argyle Street, Mongkok,
Kowloon, Hong Kong |
|
Position: |
Secretary/Director |
|
ID Number: |
E230513(9) |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Room 12, 8/F, Kam Hon Industrial Building, 8
Wang Kwun Road, Kowloon Bay, Kolwoon, Hong Kong |
Premises Information
Office address:
|
Address: |
Workshop No.12 On 8th Floor Kam Hon Industrial Building No.8 Wang Kwun Road Kowloon |
|
Owners: |
Yeung Kim Ching |
|
Memorial Number: |
UB5806216 |
|
Date of Instrument: |
1993-9-13 |
|
Date of Registration: |
1993-10-5 |
|
Consideration Value: |
HKD 668,000.00 |
Production Information
The subject is mainly engaged in manufacturing
of hangers and etc.
It is introduced that subject has a factory in
the mainland of China for production.
It is introduced that subject has obtained the
certification of ISO 9001.
Purchase Information
Subject purchases its raw materials and etc
both at home and abroad.
Sales Information
The subject is mainly engaged in sales of
hangers and etc.
Subject’s major products include Shirt / Dress
Hangers-Metal Hook, Shirt / Dress Hangers-Plastic Hook, Outerwear Hangers-Metal
Hook, Outerwear Hangers-Plastic Hook, Waistline Hangers-Metal Hook, Waistline
Hangers-Plastic Hook, Frame Hangers, Lingerie Hangers, Accessories-Size Clips,
Accessories-Belt Hanger, Accessories-Small / Polybag Hooks, Accessories-Shoes
Hanger, Accessories-Others, Satin Hangers, Velvet / Electroplate Hanger, Wood
Colour / Special Colour Hanger, 2 Pack / 3 Pack Hanger, Wooden Hanger and etc.
Subject’s selling territory includes Asia,
Europe, America and etc.
Subject’s major customers are manufacturers,
designers or distributors of household products.
It is introduced that subject can provide OEM
services
Trademark
|
Trade Mark No.: |
300283040 |
|
Status: |
Registered |
|
Mark: |
H
|
|
Mark Type: |
Ordinary |
|
Owner's Name, Address: |
HUNG FAT HANGERS & BUTTON PRODUCTS
COMPANY LIMITED |
|
Owner's Address |
RICKY S.P. NG & CO. |
|
Agent's Address: |
ROOM 1207, 12TH FLOOR, WING ON CENTRE, |
|
Class No.: |
20 |
|
Specification: |
|
|
Date of Filing: |
09-09-2004 |
|
Date of Publication of |
24-09-2004 |
|
Date of Registration: |
09-09-2004 |
|
Actual Date of |
12-01-2005 |
|
Expiry date: |
08-09-2024 |
|
Historical Details: |
|
|
Date of entry |
Matters |
|
12-01-2005 |
REGISTRATION |
Settlements
Purchase
Domestic Purchase
|
Products |
Raw materials and etc |
|
Payment Terms |
Cash, T/T and etc |
Import
|
Products |
Raw materials and etc |
|
Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
|
Product |
Hangers and etc |
|
Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Hangers and etc |
|
Selling Terms |
L/C, T/T and etc |
Financial Information
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.
Subject’s relevant staff Ms. Yang rejected to
disclose the financial information, from other sources we could not obtain such
information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
No mortgage of the subject were found.
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Name |
Ms. Yang |
|
Department: |
Sales Department |
|
E-mail: |
Industry Information
69741-- Household articles and parts thereof,
n.e.s., of iron or steel (kg)
Unit: HKD/000
|
|
2015.6 |
2015.01~2015.6 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
159 |
38 |
624 |
60 |
|
Australia |
1,813 |
18 |
4,992 |
333 |
|
Belgium |
6,284 |
476 |
10,253 |
1,301 |
|
The Mainland of China |
1,827,634 |
79,485 |
10,527,095 |
432,573 |
|
France |
295,879 |
25,655 |
565,190 |
57,310 |
|
Exports |
||||
|
United Arab Emirates |
30,149 |
2,066 |
147,637 |
12,201 |
|
949 |
103 |
10,993 |
905 |
|
|
Australia |
46,680 |
3,816 |
275,392 |
21,039 |
|
Belgium |
9,008 |
1,000 |
32,590 |
3,243 |
|
The Mainland of China |
64,500 |
5,137 |
539,387 |
31,643 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Room 12, 8/F, Kam Hon Industrial Building, 8
Wang Kwun Road, Kowloon Bay, Kolwoon, Hong Kong
Room 12, 8/F, Kam Hon Industrial Building, 8
Wang Kwun Road, Kowloon Bay, Kolwoon, Hong Kong
Room 12, 8/F, Kam Hon Industrial Building, 8
Wang Kwun Road, Kowloon Bay, Kolwoon, Hong Kong
Room 12, 8/F, Kam Hon Industrial Building, 8
Wang Kwun Road, Kowloon Bay, Kolwoon, Hong Kong
Room 12, 8/F, Kam Hon Industrial Building, 8
Wang Kwun Road, Kowloon Bay, Kolwoon, Hong Kong
Room 12, 8/F, Kam Hon Industrial Building, 8
Wang Kwun Road, Kowloon Bay, Kolwoon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.63 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.40 |
|
HKD |
1 |
Rs.8.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.