|
Report No. : |
325967 |
|
Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
WOGEN PACIFIC LIMITED |
|
|
|
|
Formerly Known As : |
VERITAS RESOURCES LIMITED |
|
|
|
|
Registered Office : |
2808 China Resources Building, 26 Harbour Road, Wanchai |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
21.06.1996 |
|
|
|
|
Com. Reg. No.: |
19978478 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of mineral resources |
|
|
|
|
No. of Employees : |
About 5 employees |
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 (in English): |
|
|
Supplied
Name: |
WOGEN
PACIFIC LIMITED |
|
Trading Address: |
Room 2808 China Resources Building, 26
Harbour Road, Wanchai, Hong Kong |
|
Supplied
Address: |
ROOM
2808, CHINA RESOURCES BUILDING 26 HARBOUR ROAD WANCHAI HONGKONG |
Note:
The exact name and address are as above.
|
Registered Name: |
|
|
Registered Address: |
2808 China
Resources Building, 26 Harbour Road, Wanchai, Hong Kong |
|
Telephone Number: |
+852-2827-1727 |
|
Fax Number: |
+852-2827-0422 |
|
Date of Registration: |
1996-6-21 |
|
Registered Number: |
553748 |
|
Business Registration No.: |
19978478 |
|
Paid-up Capital: |
HKD 500,000 (USD 64,500) = 5,000 Shares @ HKD 100 (As of 2015.6, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
67159- Ferro-Alloys, N.E.S. (KG) |
|
Principal Activities: |
Trading of mineral resources |
|
Staff: |
About 5 employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-6-21 |
Subject was incorporated on 1996-6-21 with the registered
number 553748 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
1996-10-1 |
Wogen Pacific Limited |
|
1996-6-21 |
Veritas Resources Limited |
Parent Company
|
Name: |
Wogen Group Limited |
|
Address: |
4 The Sanctuary, Westminster, London, SW1P 3JS,
United Kingdom |
|
Registered Number: |
01069389 |
|
Status: |
Active |
|
Date of Incorporation: |
1972-9-1 |
|
Legal Form: |
Private Liability Company |
|
Nature of Business (SIC): |
70100 - Activities of head offices |
|
Tel: |
+44-20-7222-2171 |
|
Fax: |
+44-20-7222-5862 |
Change of Parent Company name
|
Date |
Change |
|
2010-4-9 |
Wogen PLC |
|
2005-9-29 |
Wogen Group Limited |
|
1987-1-30 |
Wogen Resources Limited |
Major Related Companies
|
1 |
|
|
Name: |
Wogen Metal Commercial (Shanghai) Limited |
|
Address: |
Room 1908, United Plaza 1468 Nanjing Road West,
Shanghai, China |
|
Tel: |
+86-21-6279-2000 |
|
Fax: |
+86-21-6279-1570 |
|
2 |
|
|
Name: |
Wogen Metals LLC |
|
Address: |
77, Business Center "Diagonal House",
Office 304, Moscow 127015, Russia |
|
Tel: |
+7-495 967-3154 |
|
Fax: |
+7-495-967-3154 |
|
3 |
|
|
Name: |
Wogen Resources South Africa (Pty) Limited |
|
Address: |
First Floor Block C (Office 101) St. Andrews
Office Park Meadowbrook Lane Epsom Downs Bryanston, 2191 Johannesburg South
Africa |
|
Tel: |
+27-10-003-3432 |
|
Fax: |
+27-86-649-6996 |
Group Offices
|
1 |
|
|
Address: |
Room 987, HK-Macau Centre, 2 Chaoyangmen
Bei Dajie, Dongcheng District, Beijing, China |
|
Tel: |
+86-10-6554-2311 / 2313 /
3022 / 1135 |
|
Fax: |
+86-10-6554-3776 /4621 |
|
2 |
|
|
Address: |
Room 2912, Dongshan Plaza 69 Xianliezhong Road
Guangzhou, China |
|
Tel: |
+86-20-8732-4480/ 4481/ 4455 |
|
Fax: |
+86-20-8732-4422 |
|
3 |
|
|
Address: |
42B/132 Nguyen Xien Street, Thanh Xuan, Hanoi,
Vietnam |
|
Tel: |
+84-4-3552-7558 |
|
Fax: |
+84-4-3552-7556 |
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Wogen Group Limited |
5,000 |
100% |
|
Total |
5,000 |
100% |
Major Shareholder Information:
|
Name: |
Wogen Group Limited |
|
Address: |
4 The Sanctuary, Westminster, London, SW1P 3JS,
United Kingdom |
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Brousse Damian Alexander |
|
Address: |
Bridgefoot, Stedham, Midhurst, West Sussex GU29
OPT, United Kingdom |
|
Position: |
Director |
|
Passport Number: |
093149823 |
|
Issuing Country: |
United Kingdom |
|
2 |
|
|
Name: |
Sau Mui Li |
|
Address: |
Flat B, 12th Floor, Hing On Mansion, On Shing
Terrace, Taikoo Shing, Hong Kong |
|
Position: |
Director |
|
ID Number: |
E527695(4) |
|
3 |
|
|
Name: |
Sabberton Ross Jay |
|
Address: |
Flat B, 3/F, Block 5, Pacific View, 38 Tai Tam Road, Hong Kong |
|
Position: |
Director |
|
ID Number: |
R941400(1) |
|
4 |
|
|
Name: |
Williams Alexander Ackerl |
|
Address: |
19th Floor, Wing Way Court, No. 31 Kennedy Road,
Hong Kong |
|
Position: |
Director |
|
ID Number: |
M088787(6) |
|
5 |
|
|
Name: |
Thistle Advisory & Consultancy Limited |
|
Address: |
Flat A, 2/F., Hatton House, 15 Kotewall Road, Mid
Levels, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
138549 |
|
Date of Appointment: |
2014-10-1 |
Former Directors:
|
1 |
|
|
Name: |
Poulter Neil |
|
Address: |
11 Knox Close, Church Crookham, Fleet, Hampshire,
Gu52 6TR, United Kingdom |
|
Position: |
Director |
|
Passport Number: |
099205600 |
|
Issuing Country: |
United Kingdom |
|
Date of Resignation: |
2015-4-25 |
|
2 |
|
|
Name: |
KT First Secretary Limited |
|
Address: |
Rooms 2702-3, 27th Floor, Bank of East
Asia Harbour View Centre, 56 Gloucester Road, Wan Chai, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
681483 |
|
Date of Resignation: |
2014-10-1 |
Personnel Structure
|
Total Employees |
Offices
& Factories
|
|
Office |
|
Address: |
Room 2808 China Resources Building, 26 Harbour
Road, Wanchai, Hong Kong |
Premises Information
The subject is located at Room 2808 China Resources Building, 26 Harbour Road, Wanchai, Hong Kong.
However, we cannot get any related registration information for this address in
the official authorities.
Production
Information
Subject is a trader of mineral resources. without
any production activities.
Purchase Information
·
Subject purchases its products from both
home and abroad.
·
It is introduced that subject mainly
purchase manganese ore from East Africa, South Africa, Ghana and Australia.
·
It is introduced that subject mainly
purchase rare earths in Mainland China.
Sales Information
·
Subject is engaged in trading of mineral resources
·
Subject’s major products are manganese ore, rare earths, mineral sands, ferro molybdenum, ferro
vanadium and ferro titanium
·
Subject’s products are mainly applied to industries
of automobile, aerospace, construction, machinery and equipment manufacturing.
·
It is introduced that subject’s group has offices in
Beijing, Shanghai, Guangzhou and Vietnam.
·
Subject’s sales regions cover domestic market,
Australasia, Europe, Scandinavia and India.
Purchase
Domestic
Purchase
|
Products |
Mineral resources. |
|
Payment Terms |
T/T, Cash. |
Import
|
Products |
Mineral resources. |
|
Payment Terms |
L/C, T/T. |
Domestic
Markets
|
Product |
Mineral resources. |
|
Selling Terms |
T/T, Cash. |
Export
|
Product |
Mineral resources. |
|
Selling Terms |
L/C, T/T. |
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.
Subject declined to disclose its bank details; from other source
we could not obtain the relevant information, either.
Mortgage Record
No mortgage record of subject was found.
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 |
Interview Details
|
Name |
Mr. Feng |
|
Department: |
Sales Department |
|
Email: |
67159- Ferro-Alloys, N.E.S. (KG)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
The Mainland of China |
5,623 |
17 |
380,240 |
8,527 |
|
Spain |
-- |
-- |
76,000 |
903 |
|
Japan |
-- |
-- |
382,659 |
14,138 |
|
Malaysia |
-- |
-- |
80,000 |
11,767 |
|
Exports |
||||
|
Holland |
2,000 |
3,510 |
82,000 |
16,108 |
|
India |
-- |
-- |
45,000 |
6,270 |
|
Japan |
-- |
-- |
22,426 |
6,613 |
|
-- |
-- |
199,200 |
29,301 |
|
|
USA |
612 |
225 |
136,263 |
16,575 |
|
23,657 |
1,278 |
646,778 |
29,439 |
|
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.
Address: Room 2808 China Resources Building, 26
Harbour Road, Wanchai, Hong Kong
We have arranged the visit for the supplied address
(as above), but we suffer some difficulty so the result has not come back.
We’ll update the report once we receive the photos.
The information in the report is
confirmed by Mr. Feng of the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.94 |
|
|
1 |
Rs.98.27 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.