MIRA
INFORM REPORT
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Report Date : |
28.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
LI & FUNG CENTENNIAL PTE LTD. |
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Registered Office : |
8/F, Novel Industrial Building, 850-870 Lai Chi Kok Road,
Kowloon |
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Country : |
Hong Kong |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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Status : |
Undetermined |
name & address
LI & FUNG CENTENNIAL PTE LTD.
8/F, NOVEL INDUSTRIAL BUILDING, 850-870 LAI CHI KOK ROAD,
KOWLOON, HONG KONG. (AS GIVEN)
TEL : NOT REGISTERED
FAX : NOT REGISTERED
Narrative report
This refers to a type of report whose format is different from that of a
standard report. Such type of report is provided when:
l
Information obtained is insufficient for compiling a standard report.
l
The enquired co has been out of business or its business address has
been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its credit
standing.
Our current search indicates no such co. spelt as SC is on the
incorporated companies list in Companies Registry.
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 mortgage/charges by an unlimited co is not required to be registered in
the public records.
Civil
litigation/winding-up petitions : None in our
database.
Our inquiry revealed that LF Centennial Pte. Ltd. (company name close to
your given name) is registered in Singapore. (Registration of the said company
is attached)
The said co. is an ultimate subsidiary of Li & Fung Ltd., a public
co. listed on SEHK with stock code 494, whose partial information is as
follows:
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Year established: 1992 (founded in Guangzhou, PR China in 1906)
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Registered address: LiFung Tower,
888 Cheung Sha Wan Road, Cheung Sha Wan, Kowloon, HONG KONG.
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Business line: As a holding co.
with diverse interests in consumer products (garments, toys, household goods,
etc.) trading, warehousing, insurance, property investment, toys retail, convenience
stores & photo shops operation. *
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No. of employees: 7,629 (as at 31-12-2005)
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Civil litigation & winding-up petition records: None in our database
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Turnover: HKD $68,010M (year ended 31-12-2006)
* It has 72 sourcing offices located in 41 countries. Its major markets include USA &
Europe. The group's trading business
commenced in early 1900's. With 100
years of trading experience, Li & Fung has established an extensive
worldwide distribution & sourcing network with adequate market connections &
reputation.
Partial financial data of the said co.:
Items / Fiscal year 31-12-2006 / 31-12-2005
--------------------------------------------------------
- Current assets / HKD $15,535M / HKD $10,528M
- Current liabilities / HKD $12,937M / HKD $9,862M
- Fixed assets & non-current assets / HKD $6,710M / HKD $4,740M
- Tangible worth / HKD $9,108M / HKD $5,406M
- Turnover / HKD $68,010M / HKD $55,617M
- Net income / HKD $2,202M /HKD $1,791M
Detailed information regarding its activities is not
available.
SC is not known to have any subsidiary at present.
A visit to the premises at the heading business address by our field
reporter revealed the following:
The address is an industrial premises outside of which SC's name was not
seen on display. Instead, the following
co. name was seen on display:
- Tommy Hilfiger (HONG KONG) Ltd.
Condition inside the premises during our visit: Normal
Office/factory outlay: Standard
Our reporter then contacted a female staffmember of the said co.
She advised that the heading address is the business address of SC and
she refused providing further information regarding SC.
She had promised to pass our message & deliver our brochure &
questionnaire to SC's principal(s).
However, we have not yet received any reply.
So far, we have not yet received any reply.
Our current inquiry reveals that no such name as SC is registered as a
current user of local fixed line telephone companies.
SC is unknown in the local market or to the sources we contacted. Our database also indicates no further
information regarding SC. We are unable
to establish the precise nature of SC's operations & assess SC's credit
stasnding for the time being.
Attachment (4 pages)
----------------------------
-
Co. search of LF Centennial Pte Ltd.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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%)