MIRA
INFORM REPORT
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Report Date : |
26th
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
LIAO DONG TRADING & DEVELOPMENT CO.
LTD. |
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Registered Office : |
Rm 805, 8/F, Blk A, New Trade Plaza, 6 On Ping St., Shatin, N.T., Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
30-6-1992 |
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Com. Reg. No.: |
364807 |
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Legal Form : |
Private limited company |
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Line of Business : |
Engaged in import & export of frozen seafood |
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 : |
Usually
Correct |
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Litigation : |
Clear |
NAME & ADDRESS
LIAO DONG TRADING & DEVELOPMENT CO.
LTD.
RM 805, 8/F, BLK A, NEW TRADE PLAZA,
6 ON PING ST., SHATIN, N.T., HONG KONG.
TEL: 852 26376782
FAX: 852 26868466
EXECUTIVE SUMMARY
INCORPORATION
DATE :
30-6-1992
REGISTRATION
NO. : 364807
REGISTERED
LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : LUN
WING YU (DIRECTOR)
STAFF
STRENGTH : 4.
AUTHORIZED CAPITAL : HKD 200,000 = 2,000 SHARES@ HKD 100.-
PAID-UP CAPITAL : HKD 200,000
BUSINESS
LINE : IMPORT
& EXPORT OF FROZEN SEAFOOD
TURNOVER : N/A (AS OF DEC. 31, 2004)
EQUITIES : N/A
(AS OF DEC. 31, 2004)
PAYMENT :
AVERAGE
RECOMM. CREDIT
RANGE : SMALL TO
MODERATE AMOUNT
MARKET
CONDITION :
COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.75570
= USD1 AS OF 2006-05-26
The correct name of SC is the heading one instead
of the name given by you.
SC is a private limited company registered under
incorporation file no. 364807 on 30-6-1992.
SC's shareholders & directors are shown to be
as follows:
Shareholders (as
at 30-6-2005) Number
of shares held
Lun Wing Yu 1,000
Pang Yeuk Pang 1,000
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2,000
====
Directors (as at 30-6-2005)
Pang Yeuk Pang / G520817(2)
Lun Wing Yu / E970548(5)
The above registration information is based on SC's
annual return filed at Companies Registry within the last 2 years.
No material change or amendment regarding SC has
been traced & noted within last 2 years.
Total number of
employees : 4.
Location : Maintaining its office & warehouse at the
heading business address which occupies a gross area of 1,800 square feet at an
industrial building in an industrial district.
Condition inside
the premises during our visit : Normal.
Office/factory
layout : Standard.
The premises is reportedly owned by SC's
principal(s). Land copy is not
available during current search.
This section will contain the civil litigations
& winding-up petitions filed against SC for the last 6 years (as stored in
our database), and the mortgage/charge filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil
litigation/winding-up petitions : None in our database.
Mortgage/charge
record(s) : None filed since its incorporation date.
Lun Wing Yu, director & co-founder:
- Born in 1956 & married
- He graduated from Chinese University of Hong Kong
in 1982 with a Bachelor of Science degree
- Embarked upon his career to present field as a
junior salesman in his mid 20's
- Formerly employed as an assistant factory manager
of Sin Wah Frozen Food Co. Ltd.
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Flat D, 7/F, Blk 9,
Villa Athena, Ma On Shan, Shatin, N.T., HK.
Credit
history check : This refers to a check
of our database whether the said person has been involved in any of the
following records stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
Pang Yeuk Pang, director & co-founder:
- Born in 1956 & married
- He graduated from Chinese University of Hong Kong
in 1979 with a Bachelor of Science degree
- Embarked upon his career to present field as a
junior salesman in his mid 20's
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Flat A, G/F, Blk
45, Savanna Garden, Tai Po Kau, Tai Po, N.T., HK.
Property ownership: Current land search indicates
the said premises ownership as follows:
- Owner(s) : Pang Yeuk Pang & others
- Date of purchase & consideration : 15-5-1996
/ $5,850,000
- Date of mortgage & secured amount : 15-3-2000
/ ANS
- Mortgagee : Bank of China (HK) Ltd.
Credit
history check : This refers to a check
of our database whether the said person has been involved in any of the
following records stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 2
Obtained scores : 65 (see
explanatory notes below)
Keys : 1 : scores 81-100 : Excellent
2 : scores
61-80 : Good
3 : scores
46-60 : Average
4 : scores
21-45 : Fair
5 : scores
01-20 : Poor
The rating indicates the personal financial &
operational strength of SC's major principals.
It is calculated from a composite of scores obtained from the following
5 factors which carry equal weight in our analysis:
Personal financial strength, credit history &
trade reputation, business experience & track record, market connection and
management skill.
Business categories :
SC is engaged in import & export of frozen
seafood.
Items available include ribbon fish, croaker,
silver pomfret, conger eel, sole california squid, scallop, shrimp, dace,
tilapia & breaded fillet.
Principal purchases :
Major types of sourcing :
Seafood
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
Thailand, India, Pakistan, PR China, USA, Central & South America
Buying terms :
L/C, D/P & T/T
Principal market :
Local--type of customers : Nil
Selling terms :
Nil
Overseas--buying countries : USA,
Europe, Taiwan, Japan & PR China
Selling terms :
L/C & T/T
SC is not known to have any subsidiary at present.
Overall payment
appraisal :
( )
Excellent ( ) Good
(X) Average ( ) Fair
( ) Poor (
) Not yet determined
The appraisal serves as a reference to reveal SC's
payments habits and ability to pay. It
is based on the 3 weighed factors:
Trade payment experience (through current enquiry with SC's suppliers),
our delinquent payment records and our debt collection record concerning SC.
Trade
payment experience : Owing to the
nature of its operation, SC is not an active seeker of local commercial credit.
Its expenses in the form of accruals and servicing are reportedly met in a
prompt manner.
Delinquent payment record : None
in our database.
Debt collection record : No
overdue amount owed by SC was placed to us for collection within the last 6
years.
Banking relations are maintained principally with:
Bank of China (HK) Ltd.
Upon a
current contact, SC's principal(s) declined forwarding any financial
information on the ground that SC is a private venture whose data is not
required for public inspection.
As per current co. search, total amount of
indebtedness of SC in respect of all mortgages and charges, which are required
to be registered with Companies Registry as at 30-6-2005, was nil.
SC is considered a normally advancing concern with
steady customers and good base to meet its trade engagements. Credit in the range of small to moderate
amount can be considered.
-- Asset Tracing --
Upon our current investigation, our database &
sources consulted indicate that SC was not involved in any property transaction
(both purchase & disposal) in Hong Kong for the last 6 years.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |