MIRA
INFORM REPORT
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Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
TISCO TRADING (HK) LTD |
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Registered Office : |
Rm 2505, 25FL, Lippo Center - Tower I, 89 Queensway
Admiralty |
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Country : |
Hong Kong |
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Date of Incorporation : |
January 13, 1997 |
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Com. Reg. No.: |
0588618 |
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Legal Form : |
Private |
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Line of Business : |
Importing and local purchasing of stainless steel and other related
products. Sales and distribution of purchased products to local and overseas
markets. |
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 : |
Clear |
name & address
TISCO TRADING (HK) LTD
RM 2505, 25FL, LIPPO CENTER - TOWER I,
89 QUEENSWAY ADMIRALTY, HONG KONG.
TEL : 852-28271686
FAX : 852-28271300
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 13, 1997
REGISTRATION NO. :
0588618
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
5
CAPITAL :
US$ 30,389,987
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80125 = US$1
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
*Company Registration*
==================
(1)
License number : 0588618
Date issued : 13 January,
1997
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 20659934-000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Capital Details*
=============
Authorized capital : HKD 236,738,000.00 divided into 236,738,000
ordinary shares at HKD 1.00/-each, fully paid
*Office & Facilities*
================
Other tel no. : 28271033
Previous address : 17Fl CMA Bldg 64 Connaught Rd Central Hong Kong
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
www.tisco.com.cn this website
belongs to “Taiyuan Iron& Steel (Group) Co., Ltd.”. The design is
professional and the content is well organized. At present it is both in
Chinese and English version.
E-mail: tisco@netvigator.com
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders : 2
Total number of shares
: 236,738,000
Share class
: Ordinary
Shareholders' Name No. of Shares Amount of Shares (HKD) % of Shares
--------------------------
------------------
------------------------------
----------------
TAIGANG GROUP INT'L TRADE CO LTD 235,738,000
235,738,000.00
99.58
TAIYUAN IRON & STEEL (GROUP) CO LTD 1,000,000 1,000,000.00 0.42
*Directors' Details*
==============
(1)
Mr. Bing Dong
Address : 9,
2Fl, 1 Dan Yuan 43 Xsin Nan Si Tiao Taiyuan Shanxi China
(2)
Mr. Zhi-hai Wang
HKID no. :
R500877(7)
Address : Flat
C 10Fl Po Fung Bldg 55 Fort St North Point Hong Kong Hong Kong
E-mail
: tisco@netvigator.com
Date of appointment : 30 November, 2007
*Company Secretary*
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EVERSHINE SECRETARIES LTD
Address : 17Fl CMA Bldg 64 Connaught Rd Central Hong Kong
CR no. : 774373
SC declined to release its management background at present.
*Main Products & Services*
=====================
Specializes in the following areas of work :
1. Importing and local purchasing of stainless steel and other related
products.
2. Sales and distribution of purchased products to local and overseas
markets.
Products: Stainless steel
Stainless steel
products
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Majority of the annual turnover is attributed to export.
Note: the telephone number “020-38207049/38207425” given by you belongs
to a company named “Zhengyang International Ltd.”. According to the lady who
answered the phone, it is a customer of “Tisco”.
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Maintains an overseas factory located in China.
*Strategic Partners & Alliances*
=======================
Details : Maintains 55,000 employees in the group
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.
*Bank Details*
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Bank Name : BANK OF CHINA (HONG KONG) LTD
Branch : Central, Hong Kong
Branch Address : 13Fl Bank Of China Tower 1 Garden Rd Central Hong Kong
(Head Office)
SWIFT Code : BKCHHKHH
SC is considered small-sized in its line with a 10 years history. Credit
dealings with SC should be confined into small amount at present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 331207 Steel Plate/Sheet/Strip
Trading 3325 Steel
Foundries, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7218 Stainless
steel in ingots etc & semifin products
Trading 721810 Stainless
steel ingots and other primary forms
Trading 721890 Other
semi-finished products of stainless steel
Trading 7218900000 Semi
finished products of stainless steel
Trading 7222 Bars
& rods, st steel; angles etc, stainless steel
INTERNATIONAL TRADE:
ACTIVITY & MARKETS
Exporting to Asia
Exporting to Australia
Exporting to Europe
Exporting to Middle East
Exporting to North America
Exporting to Oceania
Exporting to South Korea
Exporting to Taiwan
Exporting to USA
Importing from Australia
Importing from China
Importing from Europe
Importing from North America
Importing from Oceania
Importing from USA
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%)