MIRA INFORM REPORT
|
Report No. : |
356917 |
|
Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PHINEAS GROUP (HK) LIMITED |
|
|
|
|
Registered Office : |
Unit 7, 26/F Clifford Centre, 782
Cheung Sha Wan Road, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
13.05.2010 |
|
|
|
|
Com. Reg. No.: |
52270324 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of Heel Hangers |
|
|
|
|
No. of Employees : |
About 3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 12.5% 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: |
PHINEAS GROUP (HK) LIMITED |
|
Supplied Name: |
PHINEAS GROUP (HK) LIMITED |
|
Trading Address: |
Unit 7, 26/F Clifford Centre, 782
Cheung Sha Wan Road, Kowloon, Hong Kong |
|
Supplied Address: |
ROOM 2607 CLIFFORS CENTRE, 782 CHEUNG SHA WAN ROAD Kowloon |
Company Identification Details
|
Registered Name: |
Phineas Group (HK) Limited |
|
Registered Address: |
Unit 7, 26/F Clifford Centre, 782 Cheung Sha Wan
Road, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2743-3030 |
|
Fax Number: |
+852-2743-3355 |
|
Date of Registration: |
2010-5-13 |
|
Registered Number: |
1455634 |
|
Business Registration No.: |
52270324 |
|
Paid-up Capital: |
HKD 10 (USD 1.29) = 10 Shares @ HKD 1 (As of 2015.12, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
85190-parts of footwear (KG) |
|
Principal Activities: |
Trading of heel hangers |
|
Staff: |
About 3 employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-5-13 |
History
Subject was incorporated on 2010-5-13 with the
registered number 1455634 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2015-4-22 |
PHINEAS GROUP (HK) LIMITED |
|
2010-5-13 |
Phineas Products Hong Kong Limited |
Corporate Structure
|
1 |
|
|
Name: |
Phineas Group (UK) Ltd |
|
Address: |
Airfield House, Western Drive, Hengrove
Bristol, BS14 0AF |
|
Tel: |
+44 0 845 838 6333 |
|
Fax: |
+44 0 845 838 1613 |
|
2 |
|
|
Name: |
Phineas Group (US) LLC |
|
Address: |
One Gateway Centre, Suite 2600, Newark, New
Jersey 07102, USA |
|
Tel: |
+1 973 622 8138 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Dahiel Charles Wright |
9 |
90% |
|
Lau Pui Fong, Carol |
1 |
10% |
|
Total |
10 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Dahiel Charles Wright |
|
Address: |
37 Monk Road, Bristol, BS78le United Kingdom
|
|
2 |
|
|
Name: |
Lau Pui Fong, Carol |
|
Address: |
Flat 1A, Boland CRT PH 1, 10 Broadcast
Drive, Kowloon, Hong Kong |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Dahiel Charles Wright |
|
Address: |
37 Monk Road, Bristol, BS78le United Kingdom
|
|
Position: |
Director |
|
Passport Number: |
208126555 |
|
Issuing Country: |
United Kingdom |
|
2 |
|
|
Name: |
Lau Pui Fong, Carol |
|
Address: |
Flat 1A, Boland CRT PH 1, 10 Broadcast
Drive, Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
C568801(7) |
|
3 |
|
|
Name: |
Jadin Limited |
|
Address: |
Room 601, Kalok Building, 720 Nathan Road,
Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
227789 |
Former Director
|
Name: |
Morgan Janet Teresa |
|
Address: |
10 Wessex Close, Calne, Wiltshire, SN11 8NY
United Kingdom |
|
Passport Number: |
459317208 |
|
Issuing Country: |
United Kingdom |
|
Date of Resignation: |
2015-6-30 |
Personnel Structure
|
Total Employees |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Unit 7, 26/F Clifford Centre, 782
Cheung Sha Wan Road, Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
UNIT 7 on 26th floor, Clifford Centre,
no.782 Cheung Sha Wan Road, Kowloon, Hong Kong |
|
Owners: |
|
|
Memorial Number: |
11053100010033 |
|
Date of Instrument: |
2011-05-6 |
|
Date of Registration: |
2011-5-31 |
|
Consideration Value: |
HKD 3,930,000.00 |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
11053100010043 |
|
Date of Instrument: |
2011-5-6 |
|
Date of Registration: |
2011-5-31 |
|
Nature: |
MORTGAGE |
|
In Favor of: |
BANK OF COMMUNICATIONS CO., LTD. |
|
Consideration: |
ALL MONIES |
|
2 |
|
|
Memorial No.: |
11032400280132 |
|
Date of Instrument: |
2011-3-21 |
|
Date of Registration: |
2011-3-24 |
|
Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Chui Wai Leung |
|
Consideration: |
HKD 3,930,000.00 |
|
3 |
|
|
Memorial No.: |
UB9383722 |
|
Date of Instrument: |
2004-11-10 |
|
Date of Registration: |
2004-11-16 |
|
Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Huge Sky Asia Limited |
|
Consideration: |
HKD 1,750,000.00 |
Production Information
Subject is a trader of heel
hangers, etc. without any production activities
It is introduced that subject’s related companies has a factory in
Huizhou City, Guangdong Province of Mainland China for production, but detail
cannot be available from any resources.
Purchase Information
It is introduced that subject’s products are mainly purchased from
Mainland China.
Sales Information
Subject is engaged in sale of heel
hangers.
The major products sold by the subject are heel hangers, stacking hanger, sizer clip, eyelet hook and label, and
footwear shapers.
Subject’s products are applied in all kinds of shoes, such as boots, fur
top boots, non padded heels or low heel height.
Subject’s sales regions include Asia, India, America and Europe.
Subject’s major customers are footwear retailers.
Settlements
Purchase
Domestic Purchase
|
Products |
Heel hangers |
|
Payment Terms |
T/T, Cash |
Import
Subject has little import.
Domestic Markets
|
Product |
Heel hangers |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Heel hangers |
|
Selling Terms |
L/C, T/T |
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 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 record of subject was 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. Carol |
|
Department: |
Sales Department |
|
Email: |
Industry Information
85190- parts of footwear (KG)
Unit: HKD/000
|
|
2015.06 |
2015.01~2015.06 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Italy |
46,201 |
3,848 |
162,372 |
13,101 |
|
South Korea |
63,290 |
3,709 |
391,343 |
54,064 |
|
Taiwan |
257,993 |
7,815 |
1,868,417 |
53,639 |
|
Vietnam |
204,911 |
22,970 |
908,393 |
103,701 |
|
USA |
66,863 |
17,800 |
519,646 |
116,154 |
|
India |
10,177 |
924 |
21,341 |
2,683 |
|
Indonesia |
40,826 |
4,437 |
137,873 |
13,982 |
|
The Mainland of China |
1,696,598 |
112,732 |
10,352,309 |
725,918 |
|
Exports |
||||
|
India |
70,664 |
6,112 |
343,953 |
33,295 |
|
Cambodia |
320,309 |
13,578 |
1,313,143 |
58,233 |
|
Indonesia |
176,980 |
18,474 |
1,060,604 |
114,718 |
|
Bangladesh |
90,964 |
4,481 |
574,453 |
27,035 |
|
Germany |
20,762 |
2,954 |
73,248 |
12,137 |
|
The Mainland of China |
734,497 |
90,378 |
4,068,377 |
525,526 |
|
Ethiopia |
10,183 |
440 |
57,354 |
2,756 |
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
Address: Unit 7, 26/F Clifford
Centre, 782 Cheung Sha Wan Road, Kowloon, Hong Kong
Clifford Centre, 782 Cheung Sha Wan
Road, Kowloon, Hong Kong
%20LIMITED%20-%20356917%2029-Dec-2015_files/image012.jpg)
Clifford Centre, 782 Cheung Sha Wan
Road, Kowloon, Hong Kong
%20LIMITED%20-%20356917%2029-Dec-2015_files/image013.jpg)
26/F Clifford Centre, 782 Cheung Sha Wan
Road, Kowloon, Hong Kong
%20LIMITED%20-%20356917%2029-Dec-2015_files/image014.jpg)
Unit 7, 26/F Clifford Centre, 782 Cheung
Sha Wan Road, Kowloon, Hong Kong
%20LIMITED%20-%20356917%2029-Dec-2015_files/image015.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.13 |
|
|
1 |
Rs.98.69 |
|
Euro |
1 |
Rs.72.55 |
|
HKD |
1 |
Rs.8.57 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.