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Report No. : |
300933 |
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Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
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Name : |
PACIFIC WORLD INDUSTRIAL LTD. |
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Registered Office : |
Unit 04, 14/F, Block B, Hoi Luen Industrial Centre, 55 Hoi Yuen Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.04.2002 |
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Com. Reg. No.: |
34154889 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of electronic supplies |
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No. of Employees : |
15 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
PACIFIC WORLD
INDUSTRIAL LTD.
ADDRESS: Unit 04, 14/F, Block B, Hoi Luen Industrial Centre, 55 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2797 2711, 852-2797 2733
FAX: 852-2790 7778
E-MAIL: sales@pacificworld.com.hk
Managing Director: Mr. Mak Kam Wah, Martin
Incorporated on: 4th April, 2002.
Organization: Private Limited Company.
Capital: Nominal:HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Importer and Exporter.
Employees: 15.
Main Dealing Banker: Citibank, N.A., Hong Kong.
Banking Relation: Good.
Registered Head
Office:-
Unit 04, 14/F, Block B, Hoi Luen Industrial Centre, 55 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong.
34154889
0791967
Managing Director: Mr. Mak Kam Wah, Martin
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDERS: (As per registry dated 04-04-2014)
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Name |
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No. of shares |
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MAK Kam Wah |
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600,000 |
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FONG Tin Ping |
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250,000 |
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LAU Tak Fu |
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150,000 |
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‑‑‑‑‑‑‑‑‑‑‑‑ |
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Total: |
1,000,000 ======= |
DIRECTORS: (As per registry dated 04-04-2014)
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Name (Nationality) |
Address |
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FONG Tin Ping |
Flat D, 20/F., Block 2, Hanford Garden, Tuen Mun, New Territories, Hong Kong. |
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LAU Tak Fu |
Flat 1613, 16/F., Kwai Tak House, Kwai Fong Estate, Kwai Chung, New Territories, Hong Kong. |
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MAK Kam Wah |
Flat 1519, 15/F., Pik Fung House, Fung Tak Estate, Diamond Hill, Kowloon, Hong Kong. |
SECRETARY: MAK Kam Wah (As per registry dated
04-04-2014)
The subject was incorporated on 4th April, 2002 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 electronic supplies.
Employees: 15.
Commodities Imported: China, other Asian countries, etc.
Markets: Japan, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge (since 2009): (See attachment)
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.
Bankers:-
Citibank, N.A., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued 1 million ordinary shares of HK$1.00 each, Pacific World Industrial Ltd. is jointly owned by Mak Kam Wah, holding 60% interests; Mr. Fong Tin Ping, holding 25%; Mr. Lau Tak Fu, 15%.
With headquarters in Hong Kong, the subject provides trading and technical service in the electronic industry, serving both the domestic and international market. The subject brings an innovative approach to electronic component trading services, acting as a total solution provider between the customer and the principal manufacturer.
The subject is carrying the following products:-
Electronic components [Sharp, Seinmedia, Texas Instruments, Epson]
Equipment --- Interactive Whiteboard, Car Blackbox, etc.
Accessories --- Watches, Handbags, etc.
Fashion Products
Products are exported to Asian countries, Europe, North America, Australia, etc.
The subject acquired its products chiefly from China. In order to made access to China manufacturers, the subject takes part in Canton Fair annually. Canton Fair has been held in Guangzhou, Guangdong Province, China biannually for over 50 years.
As the history of the subject is over twelve years and nine months in Hong Kong, on the whole, consider it good for normal business engagements.
Brief Personal Profile of the Directors:
Mr. MAK Kam Wah, Martin, aged 44, is the founder of the subject. Mr. Mak is the Chairman and the Managing Director of the subject. Mr. Mak oversees the subject’s operations and is in charge of planning and leadership for the subject’s overall development and policy. He has over 20 years of experience in sales and marketing of electronics. He was an executive director of Arcon Holding Ltd.
Mr. LAU Tak Fu, Joe, aged 42, is the co-founder of the Group. Mr. Lau is the engineering director of the subject and is responsible for the subject’s strategic planning and business development. He has extensive knowledge in the electronic industry with focus on technology development. He holds a bachelor degree in electronic engineering from Hong Kong Polytechnic and an M.Phil. degree in computer science in Chinese University of Hong Kong. He worked for Cadence Design System.
(Since 2009)
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Date |
Particulars |
Amount |
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28-12-2009 |
Instrument: Deposit Deed Property: By way of first fixed charge and as a continuing security for the Obligations, the Company charges and assigns absolutely all its rights, title to and interest in the Accounts and all Deposits from time to time in the Accounts and/or comprising the Accounts maintained with Citibank N.A., Hong Kong Branch and/or Citibank (Hong Kong) Ltd. Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys |
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20-04-2012 |
Instrument: Legal Charge/Mortgage Property: 1,675/427,554th parts or shares of The Remaining Portion of Kwun Tong Inland Lot No. 195 (Unit H on 15/F. of World Tech Centre, 95 How Ming Street, Kwun Tong, Kowloon, Hong Kong.) Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure all monies in respect of general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.39 |
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1 |
Rs.96.85 |
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Euro |
1 |
Rs.75.67 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.