MIRA
INFORM REPORT
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Report Date : |
04.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
CSV LTD. |
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Registered Office : |
Unit 1506, 15/F., One Harbourfront, 18 Tak Fung St.,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
13-6-1995 |
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Com. Reg. No.: |
517780 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in trading of woven & knitted garments. |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
name & address
CSV LTD.
UNIT 1506, 15/F., ONE HARBOURFRONT,
18 TAK FUNG ST., HUNGHOM, KOWLOON, HONG KONG
TEL : 852 29542266
FAX : 852 29542890
EXECUTIVE SUMMARY
INCORPORATION DATE :
13-6-1995
REGISTRATION NO. :
517780
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. WU CHI KAI JOHNICO (MANAGING DIRECTOR)
STAFF STRENGTH :
22
AUTHORIZED CAPITAL :
HK $10,000 = 10,000 SHARES @ HK $1.-
PAID-UP
CAPITAL : HK $10.-
BUSINESS LINE :
TRADING OF WOVEN & KNITTED GARMENTS
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7. 78653 = USD1
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
SC is a private limited company registered under incorporation file no.
517780 on 13-6-1995.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 13-6-2007) Number
of shares held
- The Bridge Holding Ltd. 6
- Multihulls Trading Ltd. 4
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10
==
Director(s) (as at 13-6-2007)
- Kafry Mordechai / K207655(1)
- Samarawickrama Malik Devapriya / N1272637
- Wu Chi Kai Johnico / E454322(3)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Total number of employees: 22.
Location: Maintaining
its office at the heading business address which occupies a gross area of 1,500
square feet at a commercial building in a commercial & residential
district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
SC is a subsidiary of The Bridge Holding Ltd. (former name: Elemax Ltd.)
whose partial information is as follows:
Year established : 1995
Registered/business
address : Same as SC
Business line : As a holding co. with core
interests in trading of garments
No. of employees : NA
Civil litigation & winding-up petition : None in our database
Turnover :
NA
Wu Chi Kai Johnico, managing director:
- In his 50's & married
- Embarked upon his career to present field as a junior salesman in his
mid 20's
- Also currently managing director of Wingreat Ltd., East Asia Buying
Services Ltd. and Hoodvian Ltd.
Registered residential address: Flat B, 18/F, Tower 10, Parc Royale, 8
Hin Tai Street, Shatin, N.T., Hong Kong.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Wu Chi Kai Johnico & Li Yin Fong Shirley
- Date of purchase / consideration: 14-1-2000 / HK $5,200,000
- Date of mortgage / secured amount: 15-3-2000 / 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
Kafry Mordechai, director:
- In his early 50's & married
- He is by German nationality
- Embarked upon his career to present field in his late 20's
- Also currently director of Wingreat, East Asia Buying Services Ltd.
and Hoodvian Ltd.
Registered residential address: 1/F, May Tower II, 5 May Road, 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
Ownership background appraisal:
Rating : 2 Obtained scores : 68 (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.
During our report preparation, the principals could not be contacted
while the staff members hesitated to release financial information without the
principals' consent.
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 13-6-2007 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 : (X) see below ( ) see attached sheet
Date :
25-10-2003
Defendant(s) : SC
Plaintiff(s) : Chapman Development Ltd.
Cause of claim : Money due / owing
Claimed amount : US$84,960
Mortgage/charge record(s) : None filed within the last 2 years as per
our current search.
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 trading of woven & knitted garments.
Items available include sweaters, jumpers, pants & shirts (for men
& ladies).
Principal purchases:
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Distributors,
manufacturers & its affiliated co.
Buying
terms : COD,
credit of 30 days & intercompany account
Overseas--supplying
countries : PR China
Buying
terms : L/C
Principal market:
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : USA & Europe
Selling
terms : L/C
SC is not known to have any subsidiary at
present.
SC is considered small-sized in its line
locally with acceptable base to meet its normal dealings. Credit dealings of small amount may 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. |
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%)