MIRA INFORM REPORT
|
Report No. : |
303959 |
|
Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
KWOK FUNG (SINO H.K.) ENTERPRISE LIMITED |
|
|
|
|
Registered Office : |
Room 4024-39, 40/F., Sun Hung Kai Centre, 30
Harbour Road, Wanchai |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
01.10.1992 |
|
|
|
|
Com. Reg. No.: |
16152469 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
engaged in Trading of Paper Products including Craft Paper, Fluting Medium, Sack Krafts & Carton Boards |
|
|
|
|
No of Employees : |
About 20 Employees |
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 : |
No Complaints |
|
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
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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% 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.
|
Source : CIA |
Contact Points
|
Company Name (in Chinese): |
國豐(中港)實業有限公司 |
|
Company Name (in English): |
Kwok Fung (Sino H.K.) Enterprise Limited |
|
Supplied Name: |
KWOK FUNG (SINO HK) ENTERPRISE LTD |
|
Trading Address: |
Room 4024-39, 40/F.,
Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong |
|
Supplied Address: |
RM 4024-39, 40/F, SUN HUNG KAI CENTRE 30 HARBOUR ROAD, WANCHAI, HONG
KONG |
Note: The exact name and address are as above.
Credit Summary
|
Credit Opinion: |
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 4024-39, 40/F.,
Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong |
|
Telephone Number: |
+852-2542-1268 |
|
Fax Number: |
+852-2542-1626 |
|
Date of Registration: |
1992-10-1 |
|
Registered Number: |
382579 |
|
Business Registration No.: |
16152469 |
|
Paid-up Capital: |
HKD 3,500,000 (USD 451,500) = 3,500,000 Shares@ HKD 1 (As of 2015.01, 1 HKD = 0.1290 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
64132--paper and paperboard of a
kind used for writing, printing or other graphic purposes, not containing
fibres obtained by a mechanical or chemi-mechanical process or of which not
more than 10 % by weight of the total fibre content consists of such fibres
(kg) |
|
Principal Activities: |
engaged in
Trading of Paper Products including Craft Paper, Fluting Medium,
Sack Krafts & Carton Boards |
|
Staff: |
About 20 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-10-1 |
History
Subject was incorporated on 1992-10-1 with the registered number 382579 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Parent Company
|
Name: |
Kwok Fung Holding Limited |
|
Address: |
Room 4024-39, 40/F., Sun Hung Kai Centre, 30
Harbour Road, Wanchai, Hong Kong |
|
Date of Registration: |
2011-6-29 |
|
Registered Number: |
1623923 |
|
Business Registration No.: |
58588903 |
Subsidiary
|
Name: |
Yuanfeng Paper (Shenzhen) Co., Ltd. |
|
Address: |
The 2nd Industrial Area, Shabbu Wei
Village, Songgang Street, Bao-an District, Shenzhen City, Guangdong Province,
China |
|
Date of Registration: |
1993-4-30 |
|
Registered Number: |
440306503395603 |
|
Registered Capital: |
HKD 4,390,000 |
|
Paid-up Capital: |
HKD 4,390,000 |
|
Legal Representative: |
Ng Chi Leung, Danny |
|
Proportion of Investment (%) |
100% |
Major Related
Companies
|
1 |
|
|
Name: |
Ekman Pulp and Paper Limited |
|
Address: |
Room 4024-39, 40/F., Sun Hung Kai Centre, 30
Harbour Road, Wanchai, Hong Kong |
|
Date of Registration: |
1982-2-23 |
|
Registered Number: |
109142 |
|
2 |
|
|
Name: |
Coastal Pulp & Paper Limited |
|
Address: |
Room 4024-39, 40/F., Sun Hung Kai Centre, 30
Harbour Road, Wanchai, Hong Kong |
|
Date of Registration: |
2008-9-11 |
|
Registered Number: |
1272494 |
|
3 |
|
|
Name: |
Ekman & Co China Ltd |
|
Address: |
Suite 1310, North Office Tower, Junefield
Plaza, No. 6 Xuanwu Menwai Street, 100052 , Beijing P.R.C. |
|
4 |
|
|
Name: |
Ekman Pty Ltd |
|
Address: |
Suite C, 63 Wadham Parade, Mount Waverley
3149, Melbourne, Victoria, Australia |
|
5 |
|
|
Name: |
Ekman Pulp and Paper Pvt. Ltd |
|
Address: |
Saumil House 35, Pali Gaothan 16th Road,
Bandra West 400 050, Mumbai, India |
|
6 |
|
|
Name: |
Ekman Pulp & Paper Co., Ltd |
|
Address: |
Trio Akasaka Building 16-20, 2-Chome Akasaka
Minato-ku 107-0052 , Tokyo, Japan |
|
7 |
|
|
Name: |
Ekman Asia Pte Ltd |
|
Address: |
61 Club Street 069436 , Singapore |
|
8 |
|
|
Name: |
Ekman & Co. (Korea) Ltd. |
|
Address: |
Woo Sung Character Ville Rm 601 467-18,
Dogok-dong, Gangnam-gu 135-270 , Seoul, South Korea |
|
9 |
|
|
Name: |
Taipei Ekman & Co |
|
Address: |
18-1 FL., No. 180, Sec. 2, Tun Hwa S. Rd.
10669 , Taipei R.O.C. |
|
10 |
|
|
Name: |
Ekman & Co AB |
|
Address: |
Lilla Bommen 1 P.O. Box 230 SE-401 23
Gothenburg, Sweden |
|
11 |
|
|
Name: |
Ekman & Co Inc |
|
Address: |
8750 Northwest 36th Street Suite 400, Miami
FL 33178-2499, USA |
Note: Public files show subject has become a member of “Ekman Group” since 2011
and we provided some other major members as above for reference.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Kwok Fung Holding Limited |
3,500,000 |
100% |
|
Total |
3,500,000 |
100% |
Major Shareholder
Information:
|
Name: |
Kwok Fung Holding Limited |
|
Address: |
Room 4024-39, 40/F., Sun Hung Kai Centre, 30
Harbour Road, Wanchai, Hong Kong |
Management Information
Core Management
Detailed Information
of Directors:
|
1 |
|
|
Name: |
Tidebrant Per Hans |
|
Address: |
Utlandagatan 10, SE-412 61, Gothenburg,
Sweden |
|
Position: |
Director |
|
Passport Number: |
85705141 |
|
Issuing Country: |
Sweden |
|
2 |
|
|
Name: |
Svensson Jan Olof |
|
Address: |
8750 NW 36th Street, Suite 400,
Miami FL 33178, USA |
|
Position: |
Director |
|
Passport Number: |
81362915 |
|
Issuing Country: |
Sweden |
|
3 |
|
|
Name: |
Edvardsen Annie Elisabeth |
|
Address: |
Baverstigen 3, 4Y8 3Y Floda, Sweden |
|
Position: |
Director |
|
Passport Number: |
56622256 |
|
Issuing Country: |
Sweden |
|
4 |
|
|
Name: |
Ng Chi Leung, Danny |
|
Address: |
28C, Amber Garden, 70-72 Kennedy Road,
Wanchai, Hong Kong |
|
Position: |
Director |
|
ID Number: |
D057386(9) |
|
5 |
|
|
Name: |
Yeung Yuk Ching |
|
Address: |
Flat B, 9/F., Amber Garden, 70-72 Kennedy
Road, Wanchai, Hong Kong |
|
Position: |
Director |
|
ID Number: |
H390991(5) |
|
6 |
|
|
Name: |
Macfariance Limited |
|
Address: |
1701 Tai Yau Building, 181 Johnston Road,
Wanchai, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
562735 |
Personnel
Structure
|
Total Employees |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
Room 4024-39, 40/F.,
Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong |
Premises
Information
The subject is located at Room 4024-39, 40/F., Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong. However, we cannot get any related registration information for this address in the official authorities.
Production
Information
l Subject is a trader of paper products without any production activities.
Purchase
Information
l Subject purchases products from both home and abroad.
l One of subject’s domestic suppliers is Nine Dragons Paper.
Sales Information
l Subject is engaged in sale of paper products
l Subject’s major products include craft paper, fluting medium, sack krafts
& carton boards
l Subject’s sales regions include domestic market, other Asia countries,
Europe and America, etc.
l Subject’s major customers are Shinsei Pulp Paper USA Corp and Ekman &
Co Inc, etc.
Trademark
|
Trade Mark No.: |
302313107 |
|
Status: |
Registered |
|
Mark: |
Tomorrow
|
|
Mark Type: |
Ordinary |
|
Owner's Name, Address: |
Kwok Fung (Sino H.K.) Enterprise Limited Room 4024-39, 40th Floor, Sun
Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong |
|
Owner's Address for Service: |
Stevenson, Wong & Co. |
|
Agent's Address: |
4/F & 5/F., Central Tower,
No. 28 Queen's Road Central, Hong Kong |
|
Class No.: |
16 |
|
Specification: |
|
|
Date of Filing: (D-M-Y) |
12-07-2012 |
|
Date of Publication of Application
of Acceptance for Registration: (D-M-Y) |
11-01-2013 |
|
Date of Registration: (D-M-Y) |
12-07-2012 |
|
Actual Date of Registration:
(D-M-Y) |
24-04-2013 |
|
Expiry date: (D-M-Y) |
11-07-2022 |
|
Historical Details: |
|
|
Date of entry |
Matters |
|
24-04-2013 |
Registration |
%20ENTERPRISE%20LIMITED%20-%20303959%2024-Jan-2015_files/image001.jpg)
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Paper products, etc. |
|
Payment Terms |
Cash, T/T, etc |
2.
Import
|
Products |
Paper products, etc. |
|
Payment Terms |
T/T, etc |
Sales
1.
Domestic Markets
|
Product |
Paper products, etc. |
|
Selling Terms |
Cash, T/T, etc |
2.
Export
|
Product |
Paper products, etc. |
|
Selling Terms |
L/C, T/T, 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 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 |
Mr. Wu |
|
Department: |
Sales Department |
Industry Information
Unit: HKD/000
|
|
2014.05 |
2014.01~2013.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Austria |
48,398 |
446 |
670,798 |
6,149 |
|
The Mainland of China |
6,494,117 |
40,003 |
37,098,853 |
224,841 |
|
Germany |
63,509 |
1,963 |
1,179,957 |
9,227 |
|
UK |
174,905 |
1,273 |
707,240 |
5,360 |
|
Japan |
2,347,840 |
16,7446 |
10,333,466 |
70,194 |
|
South Korea |
1,132,830 |
6,856 |
5,469,033 |
32,521 |
|
Exports |
||||
|
Bangladesh |
21,584 |
184 |
323,022 |
2,975 |
|
The Mainland of China |
2,881,217 |
22,032 |
12,958,570 |
106,785 |
|
Indonesia |
3,408 |
41 |
19,393 |
297 |
|
Japan |
-- |
- |
7,669 |
170 |
|
North Korea |
10,211 |
120 |
39,562 |
526 |
|
Macao, China |
22,766 |
178 |
168,769 |
1,477 |
|
Malaysia |
22,491 |
170 |
83,896 |
603 |
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 |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
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 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
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 |
*Total exports figures have
been rounded to the nearest final digit after summing up the constituent trade
figures.
Attachment
Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong
%20ENTERPRISE%20LIMITED%20-%20303959%2024-Jan-2015_files/image015.jpg)
40/F., Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong
%20ENTERPRISE%20LIMITED%20-%20303959%2024-Jan-2015_files/image016.jpg)
40/F., Sun Hung Kai Centre, 30 Harbour Road,
Wanchai, Hong Kong
%20ENTERPRISE%20LIMITED%20-%20303959%2024-Jan-2015_files/image017.jpg)
Room 4024-39, 40/F., Sun Hung Kai Centre, 30 Harbour Road,
Wanchai, Hong Kong%20ENTERPRISE%20LIMITED%20-%20303959%2024-Jan-2015_files/image018.jpg)
Room 4024-39, 40/F., Sun Hung Kai Centre, 30
Harbour Road, Wanchai, Hong Kong
%20ENTERPRISE%20LIMITED%20-%20303959%2024-Jan-2015_files/image019.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
UK Pound |
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.