MIRA
INFORM REPORT
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Report Date : |
26th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
HOI FU ENTERPRISES LTD. |
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Registered Office : |
Rm 814 Tsimshatsui Centre - East Wing 66 Mody Rd, Tsimshatsui Kowloon,
Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.04.1997 |
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Com. Reg. No.: |
0605196 |
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Legal Form : |
Private Company |
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Line of Business : |
Engaged in exporting footwear and leather shoes. |
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 : |
USD 10,00 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
HOI
FU ENTERPRISES LTD
RM 814 TSIMSHATSUI CENTRE - EAST WING 66
MODY RD, TSIMSHATSUI KOWLOON, HONG KONG.
TEL :
852-23673898
FAX :
852-27213122
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 23, 1997
REGISTRATION NO. :
0605196
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. LAI-MUI LAM (MANAGER)
STAFF STRENGTH :
6
CAPITAL :
US$ 1,287
BUSINESS LINE :
EXPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 10,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81388 = US$1 AS OF 2007-2-13
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 : 0605196
Date issued :
23 April, 1997
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 20889393
Issuing authority : Business Registration Office -
Inland Revenue Department
Type of license : Business
*Capital Details*
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Authorized capital : HKD 10,000.00, fully paid
*Factories, Size & Locations*
======================
The company is a trading house which out-sources all orders to its
affiliate factory located in Dongguan, China. Hence there are no production
facilities directly owned by the company.
*Corporate & Organization Structure*
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A small 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 Ms. Lai-mui Lam can sign on behalf of the company with seal affixed.
E-mail: qisheng05@163.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 2
Total number of shares
: 10,000
Shareholders'
Name No of Shares Amount (HKD) % of Shares
--------------------------- ----------------- --------------------- ----------------
Ms. Lai-mui Lam 9,900 9,900.00 99.00
Mr. Cha-sang Chan
100 100.00 1.00
Note : Shun-chau Au transferred 9,900 shares to Lai-mui Lam, 3 October,
2005.
*Director's Details*
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Mr. Cha-sang Chan
HKID no : E216893(A)
Resident status : Hong Kong
Address : Flat D 13Fl Elaegance Garden - Block 3, Tai
Po, New Territories
*Company Secretary*
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VMC SECRETARIES LTD
CR no : 750831
Address : Rm 1617-18
Star House 3 Salisbury Rd Tsimshatsui Kowloon Hong Kong
Management: Ms. Lai-mui Lam, General Manager
Name Nationality Job Description
Ms. Lai-mui Lam Hong
Kong General Manager
*Key Personnel*
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Ms. Lai-mui Lam
Founder : Co-founder
HKID no : P978745(7)
Resident status : Hong Kong
Address : Rm 814 Tsimshatsui Centre - East Wing 66 Mody
Rd, Tsimshatsui, Kowloon
Work experience : More than 5 years.
Responsibilities : Handles the daily operation of the firm
including all financials and legal matters.
*Main Products & Services*
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Specializes in exporting footwear and leather shoes.
Products: Footwear
Leather shoes
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Exports : Letter of
Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash
30-90 days credit
Imports : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
*Local Distribution Network*
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10% of the annual turnover is attributed to local sales.
*Export Markets*
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90% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : HOI FU
PAPER PRODUCTS LTD
Country :
Hong Kong
Relationship :
Affiliate
Legal Form :
Private Limited Company
Company Type : Trader
Industry :
Paper, Pulp & Products
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Maintains factory in China with a total of 500 employees.
PAYMENT
RATING :4 OBTAINED SCORES :
47
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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 private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with an operating history of 10
years. It is considered a credit line up to USD 10,000 appears to be within
SC’s capacities.
ATTACHED: TRADE REFERENCES
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3100 Leather
and Leather Products
Exporting 3199 Leather
goods,
Exporting 5139 Footwear
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 4205 Articles
of leather
Exporting 6405 Footwear
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Japan
Exporting to North America
Exporting to USA
Importing from Asia
Importing from China
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%)
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions