MIRA
INFORM REPORT
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Report Date : |
16.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ACOMPANY (ASIA PACIFIC) LTD. |
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Registered Office : |
Unit 3, 29/F, Enterprise Square 3, 39 Wang Chiu Road,
Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
18-6-1997 |
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Com. Reg. No.: |
613390 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing & export of fashion accessories. |
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 : |
Regular |
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Litigation : |
Clear |
name & address
ACOMPANY (ASIA PACIFIC) LTD.
UNIT 3, 29/F, ENTERPRISE SQUARE 3,
39 WANG CHIU ROAD, KOWLOON BAY, KOWLOON, HONG KONG.
TEL: 852 27968366
FAX: 852 27968377
EXECUTIVE SUMMARY
INCORPORATION DATE :
18-6-1997
REGISTRATION NO. :
613390
REGISTERED LEGAL FORM :
PRIVATE LIMITED CO.
CHIEF EXECUTIVE : LO MAN KIN (DIRECTOR)
STAFF STRENGTH :
3
AUTHORIZED CAPITAL : HKD$10,000 = 5,000 SHARES @ HKD$1.-
PAID-UP CAPITAL : HKD$2.-
BUSINESS LINE :
MANUFACTURE & EXPORT OF FASHION ACCESSORIES
TURNOVER :
HKD$18M (YEAR ENDED 31-12-2006)
EQUITIES :
N/A (YEAR ENDED 31-12-2006)
PAYMENT :
NORMAL
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81303 = USD1 AS OF 2007-04-16
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
NOTE: Your given address is SC's
former business address. SC moved to
the heading business address in Dec 2006.
SC is a private limited company registered under incorporation file no.
613390 on 18-6-1997.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 18-6-2006) Number
of shares held
- Becmac Ltd. 1
- Acompany Plc 1
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2
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Directors (as at
18-6-2006)
- Lo Man Kin / G160860(5)
- Spreyer Patricia / 302795313
- Wyndham David / 500326421
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
SC commenced operation in late 2004.
Acompany Plc is SC's parent, incorporated in UK in 1986 with principal
business on fashion accessories (mainly handbags) manufacturing and trading.
- Registered office address:
Elsley House, 24-30 Great Titchfield St., London W1W 8BF, UK.
- Self-owned brands include:
"Suzy Smith" (mid market fashion handbags),
"Wonderbag", "Xude", "Cosmopolitan", "A
& O" and "Alix Cox".
Wyndham David, director:
- Also chairman & chief executive of Acompany plc (SC's parent)
- Possesses over 25 years of experience in present field
Registered residential address: Woolmer House, Priory Close, Stanmore,
HA7 3HW, UK.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
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
Lo Man Kin, director:
- In his early 40's
- Embarked upon his career to present field as a junior merchandiser in
his mid 20's
Currently active in SC's day-to-day operations & is responsible for its
management.
Registered residential address: 1/F, House D, Tak Wai Garden, Lot 1742,
Kap Pin Long Village, Sai Kung, N.T., Hong Kong.
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
Spreyer Patricia, director:
- She is by British nationality
- Embarked upon her career to present field as a small businessman in
her mid 20's
Currently residing in UK & only visits Hong Kong for business
occasionally.
Registered residential address: 3 Knoll Rise, Orpington, Kent BR6 OEJ,
UK.
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 : 3 Obtained scores : 58 (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.
Upon a current contact, Lo Man Kin, SC's director, refused releasing detailed financial data but advised that
SC's turnover for year ended 31-12-2006 was HKD$18M.
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 18-6-2006 was nil.
Banking relations are maintained principally with: HSBC.
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 records 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.
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 : SC did not provide any name of
trade/service suppliers and we have no other
sources to conduct
the enquiry at present.
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.
Business categories :
SC is engaged in manufacturing & export of fashion accessories.
Items available include handbags, purses, scarves, hats, gloves &
umbrellas.
Production is assigned to its affiliated factory/joint venture
factory located at Guangdong Province,
PR China.
Principal purchases :
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : PR China & SE Asia
Buying
terms : L/C, T/T
& special agreed terms
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : USA, Canada, Europe (mainly
UK)
Selling
terms : L/C, T/T
& special agreed terms
Total number of employees : 3.
Location : Maintaining
its office & showroom at the heading business address which occupies a
gross area of 2,200 square feet at an industrial building in an industrial
district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
SC is
not known to have any subsidiary at present.
SC is considered a normally advancing concern
with steady customers and good base to meet its trade engagements. Credit in the range of 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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)