MIRA
INFORM REPORT
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Report Date : |
27.08.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Rm 6509 The Center 99 Queen's Rd Central |
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Country : |
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Date of Incorporation : |
May 31, 2005 |
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Com. Reg. No.: |
0974210 |
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Legal Form : |
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Line of Business : |
Trading carbon steel pipes & tubes |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Up To USD 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
RM 6509 THE CENTER 99 QUEEN'S RD CENTRAL,
TEL : 852 25111968
FAX : 852 25111813
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 31, 2005
REGISTRATION NO. :
0974210
CHIEF EXECUTIVE :
MR. CHI-FAN CHAN (CHAIRMAN)
STAFF STRENGTH :
8
CAPITAL :
US$ 641,849
BUSINESS LINE :
TRADER
TURNOVER :
NA (AS OF DEC. 31, 2005)
EQUITIES :
NA (AS OF DEC. 31, 2005)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.82300= US$1 AS OF 2007-05-25
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
*Company Registration*
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(1)
License number : 0974210
Date issued : 31 May, 2005
Issuing authority : Companies
Registry
Type of license : Corporate
license
(2)
License number : 35682324
Issuing authority : Inland
Revenue Department
Type of license : Business
license
*Company Name*
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Incorporated as : CGS (
Date of incorporation : 31 May, 2005
Changed name to :
Date of change : 24
August, 2005
*Capital Details*
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Authorized capital : HKD 5,000,000.00 divided into 5,000,000.00 ordinary
shares at HKD 1.00/-each, fully paid
*Corporate & Organization Structure*
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A small-sized company operated and managed by an experienced team of professionals.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
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Only Mr. Yuan-qing Jiang can sign on behalf of the company with seal
affixed.
Website : www.hzrlciec.com The design is professional and the content
is well organized. At present it is in both Chinese and English versions.
E-mail : xiaoyingii@163.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholder : 1
Total number of shares :
5,000,000
Shareholder's Name No. of
Shares Amount of Shares (HKD) % of Shares
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IMPORT & EXPORT CO LTD
5,000,000
5,000,000.00
100
*Directors' Details*
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(1)
Mr. Yuan-qing Jiang
Resident status :
Address :
(2)
Mr. Yuan-shun Jiang
Resident status :
Address : Rm 2-401, 37 Bldg Dong Yuan Xin Chun
Xiacheng Dist Hangzhou
*Company Secretary*
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Mr. Chi-fan Chan
HKID no : D330352(8)
Resident status :
Address : Flat C
14Fl
Work experience : More than 5 years
Name Nationality
Job Description Dept. / Division
Mr. Chi-fan Chan
Mr. Henry Lee
Mr. Yuan-qing Jiang Taiwanese
Director -
Mr. Yuan-shun Jiang Taiwanese Director -
*Key Personnel*
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Mr. Chi-fan Chan
Founder : Co-Founder
HKID No : D330352(8)
Resident status :
Address : Flat C
14Fl
Work experience : More than 5 years
Responsibilities : Handles the
daily operation of the firm including all financial, sales and legal
matters.
*Main Products & Services*
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Specializes in trading carbon steel pipes & tubes
Products : Carbon steel
pipes
ERW Tubes
ERW pipes
Seamless pipes
Tubes
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : Cash
30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
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50% of the annual turnover is attributed to local sales.
*Export Markets*
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50% of the annual turnover is attributed to export to
SC is not known to have any subsidiary at present.
PAYMENT RATING : 4 OBTAINED SCORES : 48
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
As a limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
Additionally as the company was only established one (1) year ago no financials
have been lodged.
SC is considered small-sized in its line with a short
history. It is considered a credit line up to USD5,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3317 Steel
Pipe & Tubes
Trading 3494 Valves
and pipe fittings,
Trading 3498 Fabricated
Pipe/Fittings
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7305 Tubes
& pipes nesoi, ext dia ov406-4mm, iron & steel
Trading 7306303000 Tapered
steel pipes and tubes nesoi welded, circ crs sec, wall thckns 1.65mm or
more,
principly used as parts of illuminating articls, irn nonally stl
Trading 7306401015 Other
stainless steel pipes, tubes, hollow profiles, welded, circular cross section,
wall
under 1.65mm thick, over 0.5 percent nickel
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
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%)