MIRA INFORM REPORT
|
Report No. : |
324723 |
|
Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHIEFDO LIMITED |
|
|
|
|
Registered Office : |
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui Road, Tai Kok Tsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
16.06.1988 |
|
|
|
|
Com. Reg. No.: |
218545 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of chemicals |
|
|
|
|
No. of Employees : |
Not Available |
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 |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy protests that began in late September probably will have some adverse effects on economic growth, particularly retail sales.
|
Source
: CIA |
Company
name and address
|
Company
Name (in English): |
Chiefdo
Limited |
|
Supplied
Name: |
CHIEFDO
LIMITED |
|
Trading
Address: |
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui
Road, Tai Kok Tsui, Kowloon, Hong Kong |
|
Supplied
Address: |
UNIT
812, 8/F, NEW KOWLOON PLAZA, 38 TAI KOK TSUI ROAD KOWLOON, HONGKONG |
Note: The exact name and
address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit 812, 8/F,
New Kowloon Plaza, 38 Tai Kok Tsui Road, Tai Kok Tsui, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2380-0866 |
|
Fax Number: |
+852-2380-2101 |
|
Date of Registration: |
1988-6-16 |
|
Registered Number: |
218545 |
|
Business Registration No.: |
11929104 |
|
Paid-up Capital: |
HKD 5,000,000 (USD 645,000) = 5,000,000 Shares@
HKD 1 (As of 2015.06, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
59899--Other chemical products and preparations. |
|
Principal Activities: |
Trading of chemicals |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-6-16 |
Notes: Subject declined to
disclose its staff number; from other source we cannot obtain the relevant
information, either.
History
Subject was incorporated on 1988-6-16 with the
registered number 218545 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not introduce
whether it has any subsidiaries or branches, from other source we can not
obtain the relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Lo Kam Wing |
4,950,000 |
99.00% |
|
Law Lai Ha Bella |
50,000 |
1.00% |
|
Total |
5,000,000 |
100% |
Major
Shareholder Information:
|
1 |
|
|
Name: |
Lo Kam Wing |
|
Address: |
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui
Road, Tai Kok Tsui, Kowloon, Hong Kong |
|
2 |
|
|
Name: |
Law Lai Ha Bella |
|
Address: |
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui
Road, Tai Kok Tsui, Kowloon, Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Lo Kam Wing |
|
Address: |
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui
Road, Tai Kok Tsui, Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
E750963(8) |
|
2 |
|
|
Name: |
Law Lai Ha Bella |
|
Address: |
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui Road,
Tai Kok Tsui, Kowloon, Hong Kong |
|
Position: |
Secretary/Director |
|
ID Number: |
E952537(1) |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui Road,
Tai Kok Tsui, Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
8th, 9th, 10th, 11th, 12th & 13th Floors And The Appurtenances Thereto And Together With The External Walls Of 8th To 13th Floors New Kowloon Plaza No.38 Tai Kok Tsui Road Kowloon |
|
Owners: |
Speed Fellow Limited |
History of Premises
Owners’
|
1 |
|
|
Memorial No.: |
13090302530020 |
|
Date of Instrument: |
2013-7-4 |
|
Date of Registration: |
2013-9-3 |
|
Nature: |
Duplicate Tenancy Agreement With Plan Re
Unit No. 1105 On 11/F |
|
In Favor of: |
The Financial Secretary Incorporated |
|
Consideration: |
The Rent Is HKD 67,500.00 Per Month |
|
2 |
|
|
Memorial No.: |
12010900460090 |
|
Date of Instrument: |
2011-8-8 |
|
Date of Registration: |
2012-1-9 |
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Nature: |
Duplicate Tenancy Agreement With Plan
Re Unit No.1105 On 11/F |
|
In Favor of: |
The Financial Secretary Incorporated |
|
Consideration: |
The Rent Is HKD 51,750.00 Per Month |
|
3 |
|
|
Memorial No.: |
11120701780028 |
|
Date of Instrument: |
2011-12-1 |
|
Date of Registration: |
2011-12-7 |
|
Nature: |
G.N. 7856 Dated 1.12.2011 Under
Railways Ordinance (Chapter 519) Annexed With Plan No. Rdm1299 |
Production
Information
·
The subject is a trader of chemicals without any production activities.
Purchase Information
·
It is introduced that subject purchases its products
mainly in the mainland of China, Taiwan
Sales Information
·
The subject is mainly engaged in sales of chemicals
·
Subject’s major products include PVC Resins, MBS,
Processing Aid (PA), Heat Stabilizers, PE Wax, Oxidized PE Wax
·
Subject’s main selling territory includes Asia,
Europe, America
·
Subject’s major customers are manufacturers of
plastic products
·
It is introduced subject is an agent of “Formosa
Plastic Group” and “Yunnan Tin Company Group Limited”.
Settlements
Purchase
Domestic Purchase
|
Products |
Chemicals |
|
Payment Terms |
Cash, T/T |
Import
It is introduced that subject has little import.
Sales
Domestic Markets
|
Product |
Chemicals |
|
Selling Terms |
Cash, T/T |
Export
|
Product |
Chemicals |
|
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 Ms. Law 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
|
Date: |
2009-1-8 |
|
Court Name: |
Small Claim Tribunal |
|
Court No.: |
040330/08 |
|
Claimant: |
Hong Kong Communications Equipment Co. Ltd. (SCTC040330/08) |
|
Defendant: |
Chiefdo Ltd |
|
Reason: |
Goods Sold and Delivered |
|
2 |
|
|
Date: |
2008-10-28 |
|
Court Name: |
2009-1-8 |
|
Court No.: |
040330/08 |
|
Claimant: |
Hong Kong Communications Equipment Co. Ltd. (SCTC040330/08) |
|
Defendant: |
Chiefdo Ltd |
|
Reason: |
Goods Sold and Delivered |
|
3 |
|
|
Date: |
2005-1-11 |
|
Court Name: |
District Court Civil Action |
|
Court No.: |
149 |
|
Claimant: |
Chiefdo Ltd Room 1011-13, Level 10, Tower 1, Grand Century Place, 198 Prince Edward Road West, Kln |
|
Defendant: |
Wong Chak Sun t/a Yu Sun PVC Manufacture Room 1405, 14/F, Wing Yue Building, 60-64 Des Voeux Road West, HK |
|
Reason: |
Dishonored Cheque |
|
Amount(HKD): |
HKD 100,000 |
Mortgage Record
|
1 |
|
|
Company Name: |
Chiefdo
Limited |
|
Instrument of Creating Mortgage: |
Deposit Deed |
|
Date of Creating Mortgage: |
2011-8-2 |
|
Amount Secured: |
All moneys now or at any time in the future owing by
the Company (the “Principal(s)”)(whether alone or jointly with any other
person(s)) to Citibank or any Affiliate) under any banking, derivative,
foreign exchange, trade, margin, guarantee or other facility or facilities or
any account and all other liabilities (whether actual or contingent, present
or future, as principal or surety or in some other capacity) (the “Facility”
or “Facilities”}, including, any and all the obligations of the Company and
the Principal(s) under any Facility / Facilities pre-existing prior to the
date of execution of this Deed (the “Obligations”). |
|
Name of Mortgagee: |
Citibank, N.A. |
|
Address of Mortgagee: |
21/F，Tower 1 & 2, The Gateway, Harbour City, Tsimshatsui Kowloon, Hong
Kong |
|
Description of Property Mortgaged: |
By way of a 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., any branch and/or Citibank (Hong Kong) Limited. |
|
2 |
|
|
Company Name: |
Chiefdo
Limited |
|
Instrument of Creating Mortgage: |
General Letter of Hypothecation |
|
Date of Creating Mortgage: |
1999-3-9 |
|
Amount Secured: |
To secure general banking facilities) to such
extent as the Mortgagee may in its absolute discretion from time to time deem
fit and interest thereon to be granted to Chief do Limited. |
|
Name and Address of Mortgagee: |
Shanghai Commercial Bank Ltd. whose registered
office is situated at No. 12 Queen’s Road, Central, Hong Kong. |
|
Description of Property Mortgaged: |
All goods, stocks, shares, warehouse or godown
warrants, outward documentary bills, bills of lading, bills of exchange(
overseas time deposit receipts, deposit or deposit receipts of whatever kind
and whether companies whether or not they are issued by Shanghai Commercial
Bank Ltd. or as agent or its subsidiaries, evidences of value, choses in
action, claims, demands, and all other securities of the Company or . in
which the Company may have any interest, now or at any time hereafter
deposited with the Bank by the Company or become deposited with them by any
other method wherever they may be situate, whether for the express purpose of
being used by the Bank as collateral security, or for safe custody or for any
other or different purposes) as well as any moneys which the Company may have
deposited or which the Company may from time to time hereafter deposit with
the Bank in deposit account or otherwise (all the aforesaid goods,
securities, documents and moneys being hereinafter referred to as “the
securities”) |
Special
Note
Interview Details
|
Name |
Ms. Law |
|
Position: |
Operation Manager |
|
E-mail: |
Industry
Information
59899--Other chemical products and preparations.
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
-- |
1,866 |
-- |
22,192 |
|
|
Australia |
-- |
795 |
-- |
4,316 |
|
Canada |
-- |
15 |
-- |
7,223 |
|
Switzerland |
-- |
13,549 |
-- |
81,352 |
|
The Mainland of China |
-- |
67,261 |
-- |
766,766 |
|
France |
-- |
2,451 |
-- |
41,220 |
|
UK |
-- |
2,952 |
-- |
22,842 |
|
Japan |
-- |
130,154 |
-- |
1,099,183 |
|
Exports |
||||
|
Argentina |
-- |
369 |
-- |
1,880 |
|
Australia |
-- |
1,416 |
-- |
14,148 |
|
The Mainland of China |
-- |
344,324 |
-- |
4,531,464 |
|
Germany |
-- |
87 |
-- |
14,862 |
|
France |
-- |
84 |
-- |
871 |
|
UK |
-- |
52 |
-- |
1,150 |
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 |
|
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 |
|
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 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui
Road, Tai Kok Tsui, Kowloon, Hong Kong
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui
Road, Tai Kok Tsui, Kowloon, Hong Kong
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui
Road, Tai Kok Tsui, Kowloon, Hong Kong
Unit 812, 8/F, New Kowloon Plaza, 38 Tai Kok Tsui
Road, Tai Kok Tsui, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.83 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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.