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Report No. : |
345976 |
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Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
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Name : |
PERFECT MARBLE CO. LTD. |
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Registered Office : |
Unit 3606, 36/F., Wu Chung House, 213 Queen’s Road East, Wanchai |
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Country : |
Hong Kong
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Date of Incorporation : |
09.10.1981 |
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Com. Reg. No.: |
07541411 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Suppliers; Marble Fitting Construction Work of All kinds of Marble & Granite Slabs. |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
PERFECT MARBLE CO. LTD.
ADDRESS: Unit 3606, 36/F., Wu
Chung House, 213 Queen’s Road East, Wanchai, Hong Kong.
PHONE: 852-2677 0233
FAX: 852-2191
1768, 2919 1717
E-MAIL: marketing@perfectmarble.com.hk
MANAGEMENT:
Managing Director: Mr. Ko
Chung Lun
Incorporated on: 9th
October, 1981.
Organization: Private Limited Company.
Issued Shares Capital: HK$50,000,000.00
Business Category: Trading in
marble & granite slabs.
Employees: 15.
Main Dealing Banker: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
PERFECT MARBLE CO. LTD.
Registered Head
Office:-
Unit 3606, 36/F., Wu Chung House, 213 Queen’s Road East, Wanchai, Hong
Kong.
Holding Company:-
Wide Ocean Investments Ltd.
The Premises of Commonwealth Trust Ltd., Drake Chambers, Tortola, British
Virgin Islands.
Associated
Companies:
Best Cheer (Quanzhou) Logistics Co. Ltd., China.
Best Cheer (Xiamen) Stone Works
Co. Ltd., China.
Best Cheer Africa Stone Co. Ltd., Namibia.
Best Cheer Development Ltd., Hong Kong.
(Same address)
Best Cheer Environmental Technology Co. Ltd., China.
Best Cheer New Styled Construction Co. Ltd., China.
Best Cheer Stone (Shanghai) Co. Ltd., China.
Best cheer Stone (Tianjin) Co. Ltd., China.
Best Cheer Stone Inc., USA.
China Marble (H.K.) Ltd., Hong Kong.
Dongguan You Lian Construction & Materials Co. Ltd., China.
Miyi County Yutian Mining Co. Ltd., China.
Shenzhen Lianyi Decoration Engineering Co. Ltd., China.
Yu Do Estates Ltd., Hong Kong.
Yu Do Investment Holdings Ltd., Hong Kong.
Yu Do Marble Co. Ltd., Hong Kong.
Yu Tian Stone (Shenzhen) Co. Ltd., China.
Zhong Lei Stone (Chengde) Co. Ltd., China.
Zhong Lei Stone (Rongcheng) Co. Ltd., China.
07541411
0103903
Managing Director: Mr.
Ko Chung Lun
Deputy General Manager: Ms. Li Sau Lin
HK$50,000,000.00
(As per registry dated 09-10-2014)
|
Name |
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No. of shares |
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Wide Ocean Investments Ltd. The Premises of Commonwealth Trust Ltd., Drake Chambers, Tortola,
British Virgin Islands. |
|
4,999,975 |
|
KO Yu Man |
|
25 |
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|
‑‑‑‑‑‑‑‑‑‑‑‑‑ |
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Total: |
5,000,000 ======= |
(As per registry dated 09-10-2014)
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Name (Nationality) |
Address |
|
LI Sau Lin |
Unit 3606, 36/F., Wu Chung Hose, 213 Queen’s Road East, Wanchai, Hong
Kong. |
|
KWONG Choi Kuen |
Unit 3606, 36/F., Wu Chung Hose, 213 Queen’s Road East, Wanchai, Hong
Kong. |
|
CHEUNG Wai Man |
Unit 3606, 36/F., Wu Chung Hose, 213 Queen’s Road East, Wanchai, Hong
Kong. |
|
KO Yu Man |
Suite 2319, 23/F., Convention Plaza Apartment, 1 Harbour Road,
Wanchai, Hong Kong. |
|
KO Chung Lun |
Suite 2319, 23/F., Convention Plaza Apartment, 1 Harbour Road,
Wanchai, Hong Kong. |
(As per registry dated 09-10-2014)
|
Name |
Address |
Co. No. |
|
Wisdom Faith Consultancy Ltd. |
Unit B, 17/F., JCG Building, 16 Mongkok Road, Kowloon, Hong Kong. |
0640008 |
The company was incorporated on 9th October, 1981 as a private limited
liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Kwok Wai Co. Ltd. and
changed to the present style on 1st December, 1981.
The subject moved to Suite 2901, 29/F., Great Eagle Centre, 23 Harbour
Road, Wanchai, Hong Kong from 9/F., Centre Point, 181‑185 Gloucester
Road, Wanchai, Hong Kong with effect from 24th April, 1999.
The subject moved to the present address in September 2001.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importers
and Suppliers; Marble Fitting Construction Work.
Lines: All
kinds of marble & granite slabs.
Employees: 15.
Commodities Imported: Mainly
imported from Italy, Portugal, Brazil, Africa, India.
Markets: Hong
Kong, China, other Asian countries.
Terms/Sales: COD or as per contracted.
Terms/Buying: Various terms.
MEMBERSHIP: Hong Kong Marble & Granite Merchants
Association
Issued Share Capital: HK$50,000,000.00
Mortgage or Charge:-
Date of Master Agreement: 03-01-2011
Amount: All
moneies and liabilities due by the company
Property: Any
sum or sums which are deposited by the company with chargee
Mortgagee: Taipei
Fubon Commercial Banking Corporation Ltd., Hong Kong Branch.
Profit or Loss: Business
is profitable.
Condition: Business is
normal.
Facilities: Making active
use of general banking facilities.
Payment: Met as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Standard Chartered Bank, Hong Kong
Branch.
Taipei Fubon Commercial Banking Corporation
Ltd., Hong Kong Branch.
Chiyu Banking Corporation Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Very Good.
Perfect Marble Co. Ltd. is a subsidiary company of Wide Ocean
Investments Ltd. which is a BVI-registered company.
Now, the subject is chiefly owned by the Ko family. The Ko family set up Best Cheer Stone Group
[Best Cheer] in 1994 while the subject is one of the core members.
The subject is engaged in the processing and marketing marble and
granite products. It is also a
specialist in marble and granite installation works in Hong Kong and China.
Best Cheer has grown into the world’s largest vertically integrated
stone company with 5,000 employees worldwide.
Best Cheer started its expansion into the US market in 2003, with the
purchase of the famous Solar White quarry in North Carolina.
Best Cheer Stone, Inc. (BCS), a wholly-owned subsidiary of Best Cheer,
was established in 2004 to be the factory-direct distributors at both West
Coast and East Coast in the United States.
BCS supplies a wide range of products including slabs (2 cm & 3 cm),
pre-fabricated countertops, cut-to-size products for various commercial
projects, façade panels and tiles.
Today, BCS is also the leading distributor of African range marble and
granite in the Northern America from our newly acquired quarries in Namibia,
Africa.
The Group is supported by its 10 factories (or production bases) in
China and 22 quarries worldwide. These
include one in the United States and one in Norway. The China production bases are in Hebei,
Tianjin, Shandong, Shanghai, Sichuan, Fujian, Guangdong.
BCS is a member of the Marble Institute of America and the Building
Stone Institute.
Best Cheer Group has introduced the global advanced fabricating
equipment as many as 1,000 sets (these include 48 sets of granite sawing tool and
34 sets marble diamond sawing tool), and built the world’s most advanced and
the most completed complex stone assembling line in China.
The Group’s largest warehouse and logistics base is in Quanzhou, Fujian
Province, China. Best Cheer (Quanzhou) Logistic
Ltd. is operating a bonded warehouse for stone materials.
The Group is importing more 600 types of stone material from worldwide
suppliers.
Best Cheer Group has spread over 70 countries and places worldwide. It was engaged in large project such as the
Las Vegas Wynn Hotel in the United States, the Hamburg airport in Germany,
Australian ASX Financial Center, The Atlantis Hotel in Dubai, The Presidential
Mansion in Uzbekistan, The Poly Building in Beijing, The Time Square in Hong
Kong, etc. Its business is good and
active.
Ms. Li Sau Lin, aged 52, joined the subject in February 1992 and was
appointed as Executive Director of the subject in December 1993. Ms. Li graduated from the University of
Ottawa, Canada, in 1986 and holds a Bachelor of Social Science degree in
Economics. She oversees the Group’s
marble business and has over 27 years’ experience in the field. She is also one of the Directors of the
subject.
The subject has had an associated company Best Cheer Development Ltd., a
Hong Kong-registered company located at the same address. Ms. Li Sau Lin is also the director of Best
Cheer Development Ltd.
The history of the subject in Hong Kong is over 34 years.
On the whole, in view of the parentage and history of the subject,
consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
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|
1 |
Rs.99.89 |
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Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.