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Report No. : |
338834 |
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Report Date : |
02.09.2015 |
IDENTIFICATION DETAILS
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Name : |
MONFORTS FONG’S TEXTILE MACHINERY (MACAO COMMERCIAL OFFSHORE) COMPANY LIMITED |
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Registered Office : |
Em Macau, Avenida Da Praia Grande N's 762-804, China Plaza J10 |
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Country : |
Macau |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
20.10.2005 |
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Com. Reg. No.: |
SO 22647 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Textiles Machinery |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Macau |
A2 |
A2 |
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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 |
MACAU ECONOMIC OVERVIEW
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. - In 2013, Macau's gaming-related taxes accounted for more than 85% of total government revenue. Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-13, largely on the back of tourism from mainland China and the gaming sectors. In 2013, this city of 607,500 hosted nearly 29.3 million visitors. Almost 64% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. China is Macau's second largest goods export market, behind Hong Kong, and followed by the United States. In 2013, exports were US$1.1 billion, while gaming receipts were US$45.2 billion, an 18.6% increase over 2012. Macau's economy expanded by 11.9% in 2013; although impressive, it was a slower growth rate than in previous years. Macau continues to face the challenges of managing its growing casino industry, money-laundering, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
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Source
: CIA |
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Company Name (in English): |
Monforts Fong’s Textile Machinery (Macao
Commercial Offshore) Company Limited |
|
Company Name (in Portuguese): |
Monforts Fong’s Textile Maquinaria (Commercial
Offshore De Macau) Limitada |
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Supplied Name: |
Monforts Fong's Textile Machinery (Macao
Commercial Offshore) Co Ltd |
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Trading Address: |
Em Macau, Avenida Da Praia Grande N's 762-804, China Plaza J10 |
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Supplied Address: |
Unit J,8/F, Ed.
China Plaza 762-804 Avenida Da praia Grande Macau |
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Telephone Number: |
Notes: The supplied address is subject’s former
address. The exact name and address are as above.
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Credit Opinion: |
Business connections are permissible. |
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Registered Name: |
Monforts Fong’s
Textile Machinery (Macao Commercial Offshore) Company Limited |
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Registered
Address: |
Em Macau, Avenida Da Praia Grande N's 762-804, China Plaza
J10 |
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Date of
Registration: |
2005-10-20 |
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Business Registered Number: |
SO 22647 |
|
Legal Form: |
Private Limited Liability Company |
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Registered Capital: |
MOP 100,000 (USD 12,220) (As of 2015.03, 1 MOP = 0.1222 USD) |
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Principal Activities: |
Trading of textiles machinery and etc. |
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Staff: |
Employees |
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Listed at Stock
Exchange: |
No |
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Information Ended at: |
2015-3-5 |
Subject was incorporated on 2005-10-20 with registered number SO 22647 as Private Limited Liability Company in Macao.
Parent Company
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Name: |
Fong’s Project
Holding Limited |
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Registered
Address: |
Tropic Isle
Building, P. O. Box 438, Road Town, British Virgin Islands |
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Stake Interest
in Subject: |
100% |
Ultimate Parent Company
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Name: |
Fong's
Industries Company Limited |
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Address: |
8/F., 22-28
Cheung Tat Road, Tsing Yi, Hong Kong |
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Tel: |
+852-2497-3300 |
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Fax; |
+852-2432-2552 |
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Staff: |
About 4,730
Employees |
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Listed at Stock Exchange: |
Yes; (Public,
TPE: HKG:0641) |
|
Description: |
The subject is
engaged in the dyeing and finishing machines business and stainless steel
business. |
Related Companies
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1 |
|
|
Name: |
Fong's National
Engineering (Shenzhen) Co., Ltd. |
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Address: |
17-19 Lixin
Road, Danzhutou Industrial Zone, Nanwan Sub-District, Longgang District,
Shenzhen City, Guangdong, PRC |
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Tel |
+86-755-8473-6288 |
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Fax: |
+86-755-8473-6154 |
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Email |
|
|
2 |
|
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Name: |
Fong's Europe
Gmbh |
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Address: |
Milchgrundstrasse
32, 74523 Schwäbisch Hall, Germany |
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Tel |
+49-791-4030 |
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3 |
|
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Name: |
Monforts Fong's
Textile Machinery Co., Ltd. |
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Address: |
8/F., 22-28
Cheung Tat Road, Tsing Yi, Hong Kong |
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Tel |
+852- 2449-9887 |
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Fax: |
+852-2449-9770 |
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4 |
|
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Name: |
Fong's National
Engineering ( Thailand ) Co., Ltd. |
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Address: |
77/130 Room 1,
30/F, Unit C, Sinsathorn Tower, Klongtonsai, Klongsarn, Bangkok, 10600,
Thailand |
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Tel |
+91-11-2811-4724 |
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5 |
|
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Name: |
Fong's Technical
Service (PVT) Ltd. |
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Address: |
Plot Number 1,1,
Community Center,Phase I, Mayapuri, New Delhi 110064 |
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Tel |
+91-11-2811-4724 |
Note: It is introduced that subejct's group has many memebers covering all over
the world, we list 5 members as subejct's related companies for references.
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Fong’s Project
Holding Limited |
100,000 |
100% |
|
Total |
100,000 |
100% |
Major Shareholder
Information:
|
Name: |
Fong’s Project
Holding Limited |
|
Address: |
Tropic Isle
Building, P. O. Box 438, Road Town, British Virgin Islands |
Core Management
Board of
Directors:
|
1 |
|
|
Name: |
Wan, Wai Yung |
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Registered
Address: |
Room B, 27F,
Unit 2, Manhattan Hill, Po Lun Street 1, Lai Chi Kok, Kowloon, Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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2 |
|
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Name: |
Wong Iok Ha |
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Registered
Address: |
Unit F, 26f, Quanhong
Garden Fu Yuan, No. 694, Dr Sun Yatsen Avenida de Almeida Riberio, Taipa,
macau |
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Position: |
Director |
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Marital Status: |
Unmarried |
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3 |
|
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Name: |
Ji Xin |
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Registered
Address: |
Room D, 26f,
Unit 5, Tierra Verde, Tsing Yi, Hong Kong |
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Position: |
Director |
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Marital Status: |
Married |
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4 |
|
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Name: |
Lee, Che Keung |
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Registered
Address: |
Room B, 10f,
Haiyinge, Riviera Gardens, Tsuen Wan, New Territories, Hong Kong |
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Position: |
Secretary |
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Marital Status: |
Married |
Offices &
Factories
|
|
Office |
|
Address: |
Em Macau, Avenida Da Praia Grande N's 762-804, China Plaza J10 |
Premises
Information
Office address:
|
Address: |
Em Macau, Avenida Da Praia Grande N's 762-804, China
Plaza J10 |
|
Owners: |
Lam, Chun Ki
Anne (Married) |
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Matriz: |
72019 |
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Nature: |
Urban |
|
Duration: |
-- |
Production
Information
l
Subject is a trader of textile machinery and etc without any production activities.
l
It is introduced that subject has related factories
in the mainland of China for production.
Purchase
Information
l
It is introduced that subject purchases its
products from its related factories in the mainland of China for production.
Sales Information
l
Subject is mainly engaged in sales of textile machinery
and etc.
l
It is introduced that subject’s major products are
fabric finishing machines including continuous dyeing ranges, stenters,
shrinking ranges and relaxation dryers, etc.
l
Subject’s selling territory are Asia, America,
Europe, etc.
l
Subject’s major products are textile industry and
etc.
l
It is introduced that subject is selling the
products with the brand “Fong’s” and etc.
Purchase
1.
Domestic Purchase
|
Products: |
Textile machinery and etc. |
|
Payment Terms: |
Cash, T/T and etc |
2.
Import
The subject has
little import.
Sales
1.
Domestic Markets
|
Product |
Textile machinery and etc. |
|
Selling Terms |
Cash, T/T and etc |
2.
Export
|
Product |
Textile machinery and etc. |
|
Selling Terms |
L/C, T/T and etc |
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Macao and the only source from which we can obtain the information is the subject itself.
We found the consolidated financial information of subject’s Ultimate Parent Company (Fong's Industries Company Limited.) from public files for reference.
Balance
Sheet
Unit: HKD/000
|
Consolidated |
2014-6-30 |
2013-6-30 |
|
Non-current assets |
1,541,927 |
1,598,116 |
|
Current assets |
1,808,586 |
1,798,147 |
|
Current liabilities |
1,963,127 |
1,997,146 |
|
Net current liabilities |
-154,541 |
-198,999 |
|
Total assets less current liabilities |
1,387,386 |
1,399,117 |
|
Non-current liabilities |
150,034 |
151,634 |
|
|
1,237,352 |
1,247,483 |
|
Total equity and Liabilities |
1,237,352 |
1,247,483 |
|
Total equity and Liabilities (USD) |
159,618,408 |
160,925,307 |
(As of 2015.03, 1 HKD = 0.129 USD)
Profit
and Loss Account
Unit: HKD/000
|
Consolidated |
2014-1-1~2014-6-30 |
2013-1-1~2013-6-30 |
|
Revenue |
1,735,688 |
1,657,544 |
|
Revenue (USD) |
223,903,752 |
213,823,176 |
|
Gross profit |
553,544 |
484,101 |
|
Profit before tax |
76,214 |
39,149 |
|
Profit for the period |
50,399 |
26,963 |
(As of 2015.03, 1 HKD = 0.129 USD)
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
Interview Details:
|
Department: |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.26 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
-- |
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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.