MIRA INFORM REPORT
|
Report No. : |
323861 |
|
Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
EKFAIR LIMITED |
|
|
|
|
Registered Office : |
Flat C, 5F, Man Foong Industrial Building, 7 Cheung Lee St., Chai Wan |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
30.10.1981 |
|
|
|
|
Com. Reg. No.: |
0104737 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of Cloth |
|
|
|
|
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 |
|
|
|
|
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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
Contact
Points
|
Company Name (in Chinese): |
|
|
Company Name (in English): |
Ekfair Limited |
|
Supplied Name: |
EKFAIR LTD. |
|
Trading Address: |
Flat C, 5F, Man Foong Industrial Building, 7 Cheung Lee St., Chai Wan,
Hong Kong |
|
Supplied Address: |
FLAT C, 5/F., MAN FOONG IND. BLDG., 7 CHEUNG LEE ST. CHAI WAN HONG
KONG |
Note: The exact name and address are as above.
Credit
Summary
|
Credit Opinion: |
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Flat C, 5F, Man
Foong Industrial Building, 7 Cheung Lee St., Chai Wan, Hong Kong |
|
Telephone Number: |
+852-2381-8220 |
|
Fax Number: |
+852-2397-0097 |
|
Date of Registration: |
1981-10-30 |
|
Registered Number: |
0104737 |
|
Business Registration No.: |
07920580 |
|
Paid-up Capital: |
HKD 20,000 (USD 2,580) = 20,000 Shares@ HKD 1 (As of 2015.05, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
69350--Cloth (including endless bands),
grill, netting and fencing, of iron or steel wire; expanded metal of iron or
steel (kg) |
|
Principal Activities: |
Trading of Cloth, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-10-30 |
Notes: Subject declined
to disclose the number of staff, and from other source we cannot obtain the
information, either.
History
Subject was incorporated on 1981-10-30 with the registered number 0104737 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not register any subsidiaries or branches; from other source we could not obtain the relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Lam Sui Lin |
18,000 |
90% |
|
Lam Shui Oi |
2,000 |
10% |
|
Total |
20,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Lam Sui Lin |
|
Address: |
Flat A, 10F, Man Yuen, 6 Ho Man Tin St.,
Kowloon, Hong Kong |
|
2 |
|
|
Name: |
Lam Shui Oi |
|
Address: |
Flat A, 10F, Man Yuen, 6 Ho Man Tin St.,
Kowloon, Hong Kong |
Management
Information
Core
Management
Detailed
Information of Management:
|
Name: |
Lam Sui Lin |
|
Address: |
Flat A, 10F, Man Yuen, 6 Ho Man Tin St.,
Kowloon, Hong Kong |
|
Position: |
Director & Secretary |
|
ID Number: |
E 227020(3) |
|
Email: |
Operation
Information
Offices
& Factories
|
|
Office |
|
Address: |
Flat C, 5F, Man Foong Industrial Building,
7 Cheung Lee St., Chai Wan, Hong Kong |
Premises
Information
Office address:
|
Address: |
Unit No. C On 5th Floor Man Foong Industrial
Building No.7 Cheung Lee Street Hong Kong |
|
Owners: |
Topful Technology Limited |
|
Memorial Number: |
05040901940361 Assignment |
|
Date of Instrument: |
2005-3-22 |
|
Date of Registration: |
2005-4-9 |
|
Consideration Value: |
HKD 963,800.00 |
History
of Premises Owners’
|
1 |
|
|
Memorial No.: |
13042502110381 |
|
Date of Instrument: |
2012-12-24 |
|
Date of Registration: |
2013-4-25 |
|
Nature: |
Order No. Ubcs/05-06/0014/10 Under Section
24(1) Of The Buildings Ordinance With Plan |
|
In Favor of: |
-- |
|
2 |
|
|
Memorial No.: |
13042502110285 |
|
Date of Instrument: |
2012-12-24 |
|
Date of Registration: |
2013-4-25 |
|
Nature: |
06/0001/10 Under Section 24(1) Of The
Buildings Ordinance With Plan |
|
In Favor of: |
-- |
|
3 |
|
|
Memorial No.: |
13042500310107 |
|
Date of Instrument: |
2013-3-28 |
|
Date of Registration: |
2013-4-25 |
|
Nature: |
Assignment Of Rentals |
|
In Favor of: |
China Construction Bank (Asia) Corporation
Limited |
Production
Information
l Subject is engaged in trading of cloth, etc. without any production
activities.
Purchase
Information
l The products sold by the subject are mainly purchased in the Mainland of
China.
Sales
Information
l The subject is engaged in sale of cloth, etc.
l The major products sold by the subject include plant fiber cloth, linen,
ramie cloth, blended fabric, ramie cotton blended cloth, etc.
l It is introduced that subject’s products are mainly applied for garments,
etc.
l The major sales regions of the subject are domestic market, India, Japan,
Thailand, Southeast Asia, etc.
l Subject’s major customers are manufacturers of garments and bags, etc.
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Cloth, etc. |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
Subject has little import.
Sales
1.
Domestic Markets
|
Product |
Cloth, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Cloth, 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 the 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. Lam Sui Lin |
|
Position: |
Director |
Industry
Information
69350--Cloth (including endless bands), grill, netting and fencing, of
iron or steel wire; expanded metal of iron or steel (kg)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Switzerland |
38 |
263 |
126 |
402 |
|
Germany |
1,133 |
132 |
6,655 |
1,517 |
|
Italy |
253 |
50 |
18,852 |
1,436 |
|
Japan |
1,142 |
912 |
5,876 |
4,671 |
|
Korea |
19,584 |
140 |
39,948 |
289 |
|
Malaysia |
108 |
61 |
817 |
436 |
|
Taiwan |
41,689 |
1,222 |
247,408 |
5,773 |
|
The Mainland of China |
992,260 |
7,562 |
6,071,910 |
41,770 |
|
Exports |
||||
|
Macau |
54,290 |
326 |
248,050 |
1,534 |
|
Guam |
1,200 |
14 |
28,930 |
352 |
|
The Mainland of China |
-- |
-- |
360 |
2 |
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
We visited the following address and found the subject locating on it by confirming with the relevant staff, but there is no subject’s name on the wall. The following information is for your reference.
Address: Flat C, 5F, Man Foong Industrial Building, 7 Cheung Lee St., Chai Wan, Hong Kong
Man Foong Industrial Building, 7 Cheung Lee St., Chai Wan, Hong Kong
5F, Man Foong Industrial Building, 7 Cheung Lee St., Chai Wan, Hong Kong
Flat C, 5F, Man
Foong Industrial Building, 7 Cheung Lee St., Chai Wan, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.94 |
|
|
1 |
Rs. 98.63 |
|
Euro |
1 |
Rs. 69.85 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.