MIRA
INFORM REPORT
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Report Date : |
25.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
WATSON CORP LTD |
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Registered Office : |
Unit 2009-18, 20fl Shui On Centre, 6-8 Harbour Rd Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
March 1, 1999 |
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Com. Reg. No.: |
0668321 |
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Legal Form : |
Private |
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Line of Business : |
Trading wide range of consumer products. Sales and distribution of products to local and international
market. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
WATSON CORP LTD
UNIT 2009-18, 20FL SHUI ON CENTRE
6-8 HARBOUR RD WANCHAI, HONG KONG.
TEL : 852-25454251
FAX : 852-28657782
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 1, 1999
REGISTRATION NO. :
0668321
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. JOHN CHOONG-HEUP KOH (CHAIRMAN)
STAFF STRENGTH :
100
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80500 = 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
*Office & Facilities*
===============
Other fax no. :
25415324
*Corporate & Organization Structure*
===========================
Corporate Management
---------------------------------
JLP MANAGEMENT & BUSINESS ADVISERS LTD
Position held :
Corporate Director
*Capital Details*
============
Authorized capital : HKD 10,000.00 divided into 10,000 ordinary shares
at HKD 1.00/-each
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
=================
Mr. John Choong-heup Koh can sign on behalf of the company with seal
affixed.
SC is not known to host website of its own at present.
E-mail: psd@mmtadmin.com
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders
: 3
Total number of ordinary shares
: 10,000
Shareholders' Name No. of
Ordinary Shares Amount of Shares
(HKD) % of Shares
--------------------------
---------------------------
--------------------------------
----------------
FTS VENTURES LTD
9,899 9,899.00 98.99
SA CAPITAL INC
100
100.00 1.00
John Choong-heup Koh
1
1.00 0.01
*Company Secretary*
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MODERN SECRETARIES LTD
Address : Rm 2101, 21Fl Ka
Wah Centre 191 Java Rd Wanchai Hong Kong
CR number : 70852
Management: Mr. Prasanth Devanandi, Manager
Name Nationality
Job Description Dept. / Division
Mr. Prasanth Devanandi Indian Manager Marketing
*Key Personnel*
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(1)
John Choong-heup Koh
USA passport no. : 710392505
Responsibility : Handles
the overall management of the company.
Address : 1Fl 17
West 54th St New York New York 10019 USA
(2)
Prasanth Devanandi
Department : Marketing
Dept
*Main Products & Services*
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Specializes in the following areas of work:
1. Trading wide range of consumer products.
2. Sales and distribution of products to local and international
market.
Products: Cotton yarns
Giftware
Paper boxes
Safflower
seeds
Tea
*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
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintain offices in the following countries:
- USA
- Japan
- Korea
- Russia
PAYMENT
RATING : 3 OBTAINED SCORES :
53
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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 MODERATE amounts depending
on individual judgement experience.
As a private 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 : KOREA EXCHANGE BANK
Account no. : 004199184151838
Branch : Admiralty Hong
Kong
Swift code : KOEXHKHH
SC is considered medium-sized in its line with a development history of 8
years. Credit in the range of moderate amount can be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2281 Yarn,
spun, of cotton, man-made fibers, and silk
Trading 2282 Yarn
Mills
Trading 2653 Corrugated
paper and paperboard and articles thereof, including boxes, pallets,
etc.
Trading 2657 Folding
paperboard boxes
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4816 Paper, carbon, self-copy etc,
boxed or not
Trading 4817 Envelopes,
postcards etc & boxes etc of stationery
Trading 7114200060 Articles
of base metal clad with precious metal
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
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%)