MIRA
INFORM REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION
DETAILS
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Name : |
POINTER INVESTMENT ( |
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Registered Office : |
Rm 3202, 32/F, Shun Tak Centre, West Wing, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
30-10-1984 |
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Com. Reg. No.: |
143030 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in textile trading. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Up To USD1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
POINTER INVESTMENT (
RM 3202, 32/F, SHUN TAK CENTRE, WEST WING,
TEL : 852 25404489
FAX : 852 28582539
EXECUTIVE SUMMARY
INCORPORATION DATE :
30-10-1984
REGISTRATION NO. :
143030
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : ZHOU REN QIAN (DIRECTOR)
STAFF STRENGTH :
6
AUTHORIZED CAPITAL : HK$3M = 3M SHARES @ HK$1.-
PAID-UP CAPITAL : HK$3M
BUSINESS LINE :
TEXTILE TRADING
TURNOVER :
RMB661M (YEAR ENDED 31-12-2006)
EQUITIES : N/A (YEAR ENDED 31-12-2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD7.56712 = USD1 AS OF
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
HKD –
SC is a private limited company registered under incorporation file no. 143030 on 30-10-1984.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 30-10-2006) Number
of shares held
- Wang Biyun 1,000,000
- Zhou Ren Qian 1,000,000
- ______________ 1,000,000
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3,000,000
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Directors (as at 30-10-2006)
- ____________ / 350204551007401
- Wang Byyun / K00072337
- Wu Yunxuan / K00072338
- Zhou Ren Qian/ K647118(8)
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 : 6.
Location : Maintaining
its office at the heading business address which occupies a gross area of 1,400
square feet at a commercial building in a commercial district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
According to 2006 Annual Report of Xiamen International Trade Group
Corporation Ltd., SC is an ultermat subsidiary of Xiamen International Group
Corporation Ltd., a publicly listed co. on Shanghai Stock Exchange with stock
code `600755'.
Year established : 1980
Registered/business
address : 8-18/F,
Business line : As an investment holding
co. with core interests in international trade, industrial
investment, logistics & real estate.
No. of employees : NA
Civil litigation & winding-up petition : None in our database
Turnover :
RMB14,896M (year ended 31-12-2006)
Partial financial data of the said company:
Items Fiscal
yr 31-12-2006 Fiscal yr 31-12-2005
Current assets : RMB3,385M RMB3,100M
Current
liabilities : RMB3,368M RMB2,929M
Fixed assets &
non-current assets : RMB1,376M RMB1,041M
Tangible
worth/(net deficit) : RMB3,385M RMB1,213M
Turnover : RMB14,896M RMB13,478M
Net income/(net
loss) : RMB202M RMB138M
RMB1 = HK$1
Zhou Ren Qian, director:
- In his early 50's & married
- He is by Chinese nationality
- He is also director of Xiamen International Trade Group Corporation
Ltd.
- Embarked upon his career to present field in his 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Room 1101, 11/F, Block B,
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : SC
- Date of purchase & consideration : NA
- Date of mortgage & secured amount : 23-5-2002 / ANS
- Mortgagee : HSBC
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
Wang Biyun, director:
- In his early 50's & married
- He is by Chinese nationality
- Embarked upon his career to present field in his 20's
Currently residing in PR China & only visits
Registered residential address: Room 401, 4/F, 86 Hu Bin Yi Li, Kai Yuan
District,
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 : 71 (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.
Our on file records indicated SC's partial financial data as follows:
Our search indicated SC's partial financial data for year ended
31-12-2006 as follows:
- Turnover: RMB661M
- Net income: RMB27M
- Total asset: RMB294M
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 30-10-2006 was ANS.
Banking relations are maintained principally with:
- HSBC
- Bank of
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
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : (X) see below ( ) see per attached
Creation date : 25-7-2005
Charger(s) :
SC
Chargee(s) :
HSBC
Secured amount : ANS
Charge particulars : Mortgage (the heading business address)
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1987, 1988, 1990,
1993, 1999, 2002 & 2005
Year(s) in which mortgage satisfaction record(s) are filed: 1990, 1999,
2002 & 2004
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 textile trading.
Items available include viscose rayon, woven fabrics, sports wear, bed
linen, etc.
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
& open account of 30 days
Principal market :
Local--type
of customers : Dealers &
manufacturers
Selling
terms : Local L/C,
COD & credit of 60-90 days
Overseas--buying
countries : S. Korea,
Selling
terms : L/C, T/T
& open account basis
SC is
not known to have any subsidiary at present.
SC is considered an old-established business with fairly good background.
A credit line up to USD 1,000,000 would appear to be within SC’s capacities
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in
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%)