MIRA
INFORM REPORT
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Report Date : |
16th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
CHING
BO DEVELOPMENT & TRADING CO. |
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Registered Office : |
Flat
1104, 11/F, Waysor Commercial Building, 28 Connaught Road West, Hong Kong. |
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Country : |
Hong
Kong |
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Date of Incorporation : |
20.04.1996 |
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Com. Reg. No.: |
19850155 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged
in trading & retail of clothing (mainly for ladies) |
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 : |
Usually
Correct |
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Litigation : |
Clear |
Company Name & Address
CHING BO DEVELOPMENT & TRADING CO.
FLAT 1104, 11/F, WAYSOR
COMMERCIAL BUILDING, 28 CONNAUGHT ROAD WEST, HONG KONG.
TEL : 852 28037928
FAX : NOT REGISTERED
EXECUTIVE SUMMARY
INCORPORATION
DATE : 20-4-1996
REGISTRATION
NO. : 19850155
REGISTERED
LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE :
LAM FU KIN (SOLE PROPRIETOR)
STAFF
STRENGTH : 1.
AUTHORIZED CAPITAL : [IN HK, UNLIMITED COMPANIES ARE NOT REQUIRED TO FILE
ITS
CAPITAL PARTICULARS TO BR OFFICE (THE INLAND
REVENUE)]
PAID-UP CAPITAL : NOT APPLICABLE
BUSINESS
LINE : TRADING
& RETAIL OF CLOTHING
TURNOVER : N/A (AS OF DEC.
31, 2004)
EQUITIES : N/A (AS OF
DEC. 31, 2004)
PAYMENT : AVERAGE
RECOMM.
CREDIT RANGE : MODERATE AMOUNT
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.80875 =
USD1 AS OF 2007-2-15
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
Your
given name (Ching BO Deve Trading Co.) is not on the Companies list in Business
Registration Office in Hong Kong.
Based on
your given address we believe that your search target is Ching Bo Development
& Trading Co.
SC was
established under Business Registration number 19850155 on 20-4-1996 with
present status as sole proprietorship.
Currently
obtained BR copy indicate the particulars of SC's principal(s) are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered address
- Lam Fu Kin / G292665(1) Flat
A, 8/F, Ka On Building,
8-14
Connaught Road West, HK.
- Pang Siu Wan / D611017(8) --
ditto --
No
material change or amendment regarding SC has been traced & noted since its
inception.
SC also
operates a retail shop under trade name `Wendy Fashion' in Shop G2, G/F,
Yardley Commercial Building, 3 Connaught Road West, HK. with commencement date
15-6-2005.
Total number of employees : 1.
Location : Maintaining
its office at the heading business address which occupies a gross area of 800
square feet at a commercial building in a commercial & residential
district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
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 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: None
in our database.
Mortgage/charge record(s):
In HK, unlimited companies are not required to file its charge particulars for
public inspection.
Lam Fu
Kin, sole proprietor:
- In his
late 40's & married
- He has
10 years of experience in present field
Currently
active in SC's day-to-day operations & is responsible for its management.
Registered
residential address: Flat A, 8/F, Ka On Building, 8-14 Connaught Road West, HK.
Property
ownership: Current land search indicates the said premises ownership as
follows:
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Owner(s) : Lam Fu Kin
- Date
of purchase & consideration : NA
- Date
of mortgage & secured amount : 23-6-2000 / ANS
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Mortgagee : China Construction Bank (Asia) Corporation Ltd.
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 : 3 Obtained scores : 59 (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.
Business
categories :
SC is
engaged in trading & retail of clothing (mainly for ladies).
Items
available include shirts, skirts, brousers, coats & jackets.
Principal
purchases :
Major types of
sourcing : Merchandise
Local--type of
suppliers : Manufacturers
Buying terms : COD & credit of
30 days
Overseas--supplying
countries : PR China
Buying terms : T/T
Principal
market :
Local--type of
customers : Retails & walk-in
customers
Selling terms : COD & credit of 30
days
Overseas--buying
countries : Nil
Selling terms : Nil
SC is not known to have any subsidiary at present.
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 : A
trade enquiry currently conducted with SC's supplier(s) reveal the following:
First Second
Type of supplies : Merchandise
Time known : 1 year
Selling terms : Net
30-45 days
Total purchases (last 6 months) : $315,000
Present balance : $78,000
Payment record : 3
Payment record keys : 1 = Prompt : Payment made
before the credit period expires
2
= As agreed terms : Payment made upon due
date
3
= Slightly slow but acceptable : Payment
made 5 to 20 days beyond agreed terms
4
= Slow : Payment made 16 to 45 days beyond
agreed terms
5
= Poor : Payment made over 45 days beyond
agreed terms
6 = Payment slowing down : Payment formerly prompt
but slowing down in recent months
7 = No comment : Account is newly opened &
record is not yet established
Note : In some instances, payment beyond terms can
be the result of disputes over merchandise, lost invoices, disputed accounts
& etc.
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.
Banking
relations are maintained principally with: HSBC.
Upon a current contact, Lam Fu
Kin, SC's sole proprietor, declined forwarding any financial information on the
ground that it is the company's policy not releasing any data to a third party
without the benefit of knowing the identity of the inquiring party.
SC is considered small-sized in its line locally with limited potential
for further business growth. In view of
its long business history and comparatively low overhead, its standing for
normal dealings appear acceptable.
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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