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MIRA
INFORM REPORT
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Report No. : |
491359 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
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Name : |
HUAFU MACAO COMMERCIAL OFFSHORE LIMITED |
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Registered Office : |
Em Macau, Rua De Pequim No. 230-246, Centro
Financeiro F11 |
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Country : |
Macau |
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Date of Incorporation : |
26.06.2003 |
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Com. Reg. No.: |
S17104 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in
manufacturing and sales of yarn and textiles (Public files) |
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No. of Employees : |
No Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Macau |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s anti-corruption campaign brought Macau’s gambling boom to a halt in 2014, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 21.5% in 2015 and another 2.1% in 2016 - down from double-digit expansion rates in the period 2010-13 - but the economy recovered handsomely in 2017.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, 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 |
Company Details
Note: The exact name
is as above.
Special Note
According to the supplied name and
address, we found 2 numbers (+853-2855-5269/2855-5270) from public files. We
tried to contact these numbers, but both of them are out of service.
According to the supplied name, we
also found a fax number (+86-755-8373-5566) which belongs to Mainland China
from public files. We tried to send a fax, but there is no response.
According to subject’s parent
company Huafu Hongkong Trading Co., Limited, we found a telephone number (+852-2409-6299) from public files. We tried to contact the number,
and a lady answered the phone said this number is transferred to the Shenzhen
office in Guangdong Province, Mainland China directly. The lady said she knew
the subject and there is no business telephone number in Macau office, business
connections can contact the above telephone number directly or contact the
number (+86-755-8373-5588) which belongs to Shenzhen office.
Up to date of reporting, we failed to get in
touch with the subject. If you can supply further information such as current
telephone number, we’d like to have the investigation resumed.
We found subject’s registration information as
follows for reference.
Company Identification Details
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Registered Name: |
Huafu Macao Commercial Offshore Limited |
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Registered Address: |
Em Macau, Rua De Pequim No. 230-246, Centro
Financeiro F11 |
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Date of Registration: |
2003-06-26 |
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Registered Number: |
S17104 |
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Legal Form: |
Private Limited Liability Company |
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Registered Capital: |
MOP 100,000.00 (USD 12,170.00) (As of 2017.10, 1 MOP = 0.1217 USD) |
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Principal Activities: |
N/A |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
History
Subject was incorporated on 2003-06-26 with registered number S17104 as Private
Limited Liability Company in Macao.
Corporate Structure
Parent Company
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Name: |
Huafu Hongkong Trading Co., Limited |
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Registered Address: |
Unit 1502-5, 15/F, Clifford Center, 778-784 Cheung
Sha Wan Road, Cheung Sha Wan, Kowloon,
Hong Kong |
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Tel: |
+852-2409-6299 (This number has been transferred to the Shenzhen,
Guangdong Province, China directly) |
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Stake Interest in Subject: |
100% |
Shenzhen
Office
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Address: |
Shengzhen City, Guangdong Province, China |
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Tel: |
+755-8373-5588 |
Shareholder
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Subscription
Amount |
Proportion of
Investment (%) |
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Huafu Hongkong Trading Co., Limited |
100,000.00 |
100% |
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Total |
100,000.00 |
100% |
Major Shareholder Information:
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Name: |
Huafu Hongkong Trading Co., Limited |
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Address: |
Unit 1502-5, 15/F, Clifford Center, 778-784 Cheung
Sha Wan Road, Cheung Sha Wan, Kowloon,
Hong Kong |
Management Information
Core Management
Administrators:
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1 |
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Name: |
Weiting Sun |
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Address: |
Room 4202, Wankejunyuan, No. 1001 Aiguo Road, Luohu Dist., Shenzhen
City, Guangdong Province, China |
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Position: |
Administrator |
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Marital Status: |
Married |
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Gender: |
Male |
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2 |
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Name: |
Lingfen Chen |
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Address: |
Room 4202, Wankejunyuan, No. 1001 Aiguo Road, Luohu Dist., Shenzhen
City, Guangdong Province, China |
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Position: |
Administrator |
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Marital Status: |
Married |
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Gender: |
Female |
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Authorized
Signatures |
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Any one of the above Administrators can sign on behalf of the subject
with seal affixed. |
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Operation Information
Offices &
Factories
We cannot confirm subject current trading address at this stage.
Premises
Information
Since we cannot confirm subject’s current trading address,
we supply subject’s registered address as below for reference:
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Address: |
Em Macau, Rua De Pequim No. 230-246, Centro
Financeiro F11 |
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Owners: |
Maiosha Zhou Zhenyu Xiao |
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Matriz: |
71780 |
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Nature: |
Urban |
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Duration: |
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Operation
Information
From public files, we found subject
is engaged in manufacturing and sales of yarn and textiles. From registry
files, we found subject is engaged in providing the services of business agent,
files processing and supporting, etc.
But since we did not get in touch
with the subject, the above information is not confirmed.
Financial Information
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.
Since we didn’t contact subject successfully,
the financial information is not available from any sources.
Bankers
Since we didn’t contact subject successfully, the bank information is
not available from any sources.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.16 |
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1 |
INR 89.19 |
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Euro |
1 |
INR 78.75 |
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MOP |
1 |
INR 7.99 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.