MIRA INFORM REPORT

 

 

Report No. :

351216

Report Date :

30.11.2015

 

IDENTIFICATION DETAILS

 

Name :

EVERGREEN PRODUCTS FACTORY LIMITED

 

 

Registered Office :

Block A, 11/F, Chiap Luen Industrial Building, No. 30-32 Kung Yip Street, Kwai Chung, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

14.12.1993

 

 

Com. Reg. No.:

17778448

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading of wigs

 

 

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 :

Slow but correct

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.

Source : CIA

Contact Points

 

Company Name (in English):

EVERGREEN PRODUCTS FACTORY LIMITED

Supplied Name:

EVERGREEN PRODUCTS FACTORY LIMITED

Trading Address:

11/F, Chiap Luen Industrial Building 30-32 Kung Yip Street, Kwai Chung, Hong Kong

Supplied Address:

11/F CHIAP LUEN INDUSTRIAL BUILDING 0-32 KUNG YIP STREET KWAI CHUNG HONGKONG

Note: The exact name and address are as above.

 

 

Company Identification Details

 

Registered Name:

EVERGREEN PRODUCTS FACTORY LIMITED

Registered Address:

Block A, 11/F, Chiap Luen Industrial Building, No. 30-32 Kung Yip Street, Kwai Chung, New Territories, Hong Kong

Telephone Number:

+852-2427-5468

Fax Number:

+852-2420-3938

Date of Registration:

1993-12-14

Registered Number:

457094

Business Registration No.:

17778448

Registered Capital:

HKD 3,000,000 (USD 387,000) = 30,000 Shares @ HKD 100

(As of 2015.11, 1 HKD = 0.129 USD)

Legal Form:

Private Limited Liability Company

SITC Code:

89995--Wigs, false beards, eyebrows and eyelashes, switches etc.; Articles of human hair, N.E.S. (Kg)

Principal Activities:

Trading of wigs .

Staff:

About 20 Employees

Listed at Stock Exchange:

No

Date of Last Annual Return:

2014-12-14

 

 

History

 

Subject was incorporated on 1993-12-14 with the registered number 457094 as Private Limited Liability Company in Hong Kong.

 

 

Corporate Structure

 

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

 

 

Shareholders

 

Name

Subscription Shares

Proportion of Investment (%)

CLC Global Company (PTC) Limited

15,300

51%

FC Global Company (PTC) Limited

14,700

49%

Total

30,000

100%

 

Major Shareholder Information:

1

Name:

CLC Global Company (PTC) Limited

Address:

P. O. Box 916, Woodbourne Hall, Road Town, Tortola, British Virgin Islands

2

Name:

FC Global Company (PTC) Limited

Address:

P. O. Box 916, Woodbourne Hall, Road Town, Tortola, British Virgin Islands

 

 

Management Information

 

Core Management

 

Detailed Information of Directors:

1

Name:

Chan Kwok Keung

Address:

Room 409, Wang Cho House, Wang Tau Hom Estate, Kowloon, Hong Kong

Position:

Director

ID Number:

G242861(9)

2

Name:

Chang Chih Lung

Address:

Flat B, 17/F, Wing Hong Mansion, 62 MacDonnell Road, Mid-Levels, Hong Kong

Position:

Director

ID Number:

A330315(5)

3

Name:

Chang Yoe Chong, Felix

Address:

Flat B, 17/F, Wing Hong Mansion, 62 MacDonnell Road, Mid-Levels, Hong Kong

Position:

Director

ID Number:

D578070(6)

4

Name:

CHO Joo Sub

Address:

Flat 12 A, Block 6, Xian Dai Cheng Hua Ting, Chuang Ye Lu, Nan Shan Qu, Shenzhen Shi, China

Position:

Director

Passport Number:

TM0973721

Issuing Country:

Republic of Korea

5

Name:

Chan Lau Yui Kevin

Address:

Flat A1, 2/F, Block A, Cherry Court, 12 Consort Rise, Pokfulam, Hong Kong

Position:

Director

ID Number:

G222100(3)

Date of Appointment:

2015-03-25

6

Name:

Chan Hoi Sing Harold

Address:

Flat E, 31/F, Tower 2, Robinson Place, 70 Robinson Road, Mid-Levels, Hong Kong

Position:

Director

ID Number:

D504919(A)

Date of Appointment:

2015-03-25

7

Name:

Li Yanbo

Address:

409, Qing Feng Ting, Block A, Hui Zhong Ming Yuan, No.99 Deng Liang Road, Nan Shan District, Shenzhen City, Guangdong Province, China

Position:

Director

Passport Number:

G42441937

Issuing Country:

China

Date of Appointment:

2015-03-06

8

Name:

Jia Ziying

Address:

409, Qingfeng Ting, Block A, Hui Zhong Ming Yuan, No.99 Deng Liang Road, Nan Shan District, Shenzhen City, Guangdong Province, China

Position:

Director

Passport Number:

G40235281

Issuing Country:

China

Date of Appointment:

2015-03-06

9

Name:

M.K. Secretarial Services Limited

Address:

Room 301, 3/F, China Merchants Building, 303 Des Voeux Road Central, Hong Kong

Position:

Corporate Secretary

Registered Number:

152249

 

Personnel Structure

 

Total Employees

About 20 Employees

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

11/F, Chiap Luen Industrial Building 30-32 Kung Yip Street, Kwai Chung, Hong Kong

 

Premises Information

 

Office address:

Address:

11th Floor, Chiap Luen Industrial Building, No.30-32 Kung Yip Street, Kwai Chung, New Territories, Hong Kong

Owners:

Evergreen Products Factory Limited

Memorial Number:

TW1307231

Date of Instrument:

1999-08-31

Date of Registration:

1999-09-24

Consideration Value:

HKD 4,000,000.00 (PT.)

Note: PT. means part of.

 

Production Information

 

Subject is a trader of wigs, etc. without any production activities.

It is introduced that subject has a cooperative factory in Mainland China, but we cannot obtain the detail information.

 

Purchase Information

 

It is introduced that the products of subject are mainly purchased in domestic market.

 

Sales Information

 

Subject is engaged in sales of wigs, etc.

The major products are black people wigs, white people wigs, toupees, drawstrings, hairpieces and hair accessories, party wig, doll wigs and Halloween wigs, etc.

Subject’s sales regions include domestic market, Japan, Korea, America and Europe, etc.

Subject’s major customers are shops of headwear and wigs, etc.

 

Trademark

 

Trade Mark No.:

301701260

Status:

Registered

Mark:

EPF


 

 

 

 

Mark Type:

Ordinary

Owner's Name, Address:

Evergreen Products Factory Ltd
11/F; Chiap Luen Industrial Building ,
30-32 Kung Yip Street, Kwai Chung Est, N.T ,
Hong Kong

 

EPF International Limited
11/F; Chiap Luen Industrial Building ,
30-32 Kung Yip Street, Kwai Chung Est, N.T ,
Hong Kong

 

EPF Global Enterprise Limited
11/F; Chiap Luen Industrial Building ,
30-32 Kung Yip Street, Kwai Chung Est, N.T ,
Hong Kong

Owner's Address
for Service:

Anthony Kwok
14/F; Chiap Luen Industrial Building ,
30-32 Kung Yip Street, Kwai Chung Est, N.T ,
Hong Kong

Class No.:

26

Specification:

Class 26
Synthetic hair ; wigs ( synthetic hair); synthetic hairpieces; drawstring synthetic hair; synthetic hair for weaving; synthetic hair extension; bun( synthetic hair); braid( synthetic hair) ; Human hair ; hair hairpieces; wigs(human hair); drawstring human hair; human hair for weaving, human hair extension, bun(human hair), braid(human hair); hair bands; hair clips; hair net.

Date of Filing:
(D-M-Y)

30-08-2010

Date of Publication of
Application of Acceptance for
Registration:
(D-M-Y)

30-09-2010

Date of Registration:
(D-M-Y)

30-08-2010

Actual Date of
Registration:
(D-M-Y)

14-01-2011

Expiry date:
(D-M-Y)

29-08-2020

Date of registration:

14-01-2011

Matters:

Registration

 

 

Settlements

 

Purchase

 

Domestic Purchase

Products

Wigs, etc.

Payment Terms

T/T, Cash, etc.

 

Import

 

Subject has little import.

 

Sales

 

Domestic Markets

Product

Wigs, etc.

Selling Terms

T/T, Cash, etc.

 

Export

Product

Wigs, 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, and 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

 

Civil Litigation

 

1

Date:

2015-03-06

Court Name:

District Court Tax Claim

Court No.:

892

Claimant:

Evergreen Products Factory Ltd

c/o

Block A, 11/F,

Chiap Luen Industrial Building,

Nos.30-32 Kung Yip Street,

Kwai Chung, NT

c/o

Michael Cheuk, Wong & Kee

(a firm)

(DCCJ)

Defendant:

Mass Regent Industries Ltd

c/o

Room 1711, 17/F,

Wayson Commercial Building,

28 Connaught Road West,

Sheung Wan, HK

Reason:

Good Sold & Delivered

Amount(HKD):

HKD 219,933.21

2

Date:

2011-10-19

Court Name:

High Court Miscellaneous Proceeding

Court No.:

2054

Claimant:

The Incorporated Owners of Wing Hong Mansion

c/o

Kao, Lee & Yip

(a firm)

(HCMP)

Defendant:

Evergreen Products Factory Ltd

Reason:

Land

Amount(HKD):

--

 

Mortgage Record

 

1

Company Name:

Evergreen Products Factory Limited

Date of Creating Mortgage:

2014-01-29

Name of Mortgagee:

Standard Chartered Bank (Hong Kong) Limited

Address of Mortgagee:

4-A Des Voeux Road Central, Hong Kong

2

Company Name:

Evergreen Products Factory Limited

Date of Creating Mortgage:

2014-01-03

Name of Mortgagee:

Hang Seng Bank Limited

Address of Mortgagee:

83 Des Voeux Road Central, Hong Kong

3

Company Name:

Evergreen Products Factory Limited

Date of Creating Mortgage:

2013-04-29

Name of Mortgagee:

Bank of China (Hong Kong) Limited

Address of Mortgagee:

14th Floor, Bank of China Tower, No.1, Garden Road Central, Hong Kong

 

 

Special Note

 

Interview Details

Name

Mr. Deng

Department:

Sales Department

 

 

Industry Information

 

89995--Wigs, false beards, eyebrows and eyelashes, switches etc.; Articles of human hair, N.E.S. (Kg)

Unit: HKD/000

 

2015.01

2015.01~2015.06

 

Quantity

Value

Quantity

Value

Imports

Bangladesh

749

50

2,162

151

America

1,344

30

11,435

704

Japan

480

235

2,157

929

Germany

46

12

56

18

France

23

10

90

169

Singapore

16

4

101

26

Indonesia

3,463

2,265

10,594

9,342

Cambodia

516

52

2,447

268

Korea

121

26

256

81

Taiwan

172

167

2,307

638

The Mainland of China

113,815  

23,238

469 105

156,793

Exports

France

1

5

1

5

America

 

 

2

5

 

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

 

Address: 11/F, Chiap Luen Industrial Building 30-32 Kung Yip Street, Kwai Chung, Hong Kong

 

Chiap Luen Industrial Building 30-32 Kung Yip Street, Kwai Chung, Hong Kong

8991782901BB8F26(11-23-13-07-17) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


11/F, Chiap Luen Industrial Building 30-32 Kung Yip Street, Kwai Chung, Hong Kong

 

 

 

 

 

 

 

 

 

9905595695D0F34E(11-23-13-07-06)

 


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.75

UK Pound

1

Rs.100.68

Euro

1

Rs.70.88

Hkd

1

Rs.8.62

Note : Above are approximate rates obtained from sources believed to be correct

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SDA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.