MIRA
INFORM REPORT
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Report Date : |
07.07.2007 |
IDENTIFICATION DETAILS
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Name : |
CONDOR ENTERPRISE LTD. |
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Registered Office : |
Rm 1209, 12/F, Peninsula Tower, 538 Castle Peak Road,
Cheung Sha Wan, Kowloon |
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Country : |
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Date of Incorporation : |
8-10-2004 |
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Com. Reg. No.: |
926939 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing & supply of leather products. |
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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Maximum Credit Limit : |
Up To USD 20,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
CONDOR ENTERPRISE LTD.
RM 1209, 12/F,
CHEUNG SHA WAN,
TEL : 852 23072626
FAX : 852 23012390
EXECUTIVE SUMMARY
INCORPORATION DATE :
8-10-2004
REGISTRATION NO. :
926939
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : WU CHEN YING LING (DIRECTOR)
STAFF STRENGTH :
9
AUTHORIZED CAPITAL :
HK$0.5M = 10,000 SHARES @ HK$50.-
PAID-UP
CAPITAL : HK$0.5M
BUSINESS LINE :
MANUFACTURE & SUPPLY OF LEATHER PRODUCTS
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81506 = USD1 AS OF 2007-7-5
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
SC is a private limited company registered under incorporation file no.
926939 on 8-10-2004.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 8-10-2006) Number
of shares held
- Wu Chen Ying Ling 7,000
- Wu Hui Ju Ellen 3,000
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10,000
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Directors (as at 8-10-2006)
- Wu Chen Ying Ling / R124890(0)
- Wu Hui Ju Ellen / 038018235
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
No material change or amendment regarding SC has been traced & noted
within last 2 years.
Wu Chen Ying Ling, director:
Embarked upon her career to present field in her mid 20's.
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address:
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Wu Chen Ying Ling & Wu Wen Ching James
- Date of purchase & consideration : 23-1-2003 / $7.68M
- Date of mortgage & secured amount : 23-1-2003 / ANS & 23-1-2003
/ $1.92M
- Mortgagee : HSBC & Konorus Investment 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
Wu Hui Ju Ellen, director.
Currently residing in
Registered residential address:
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 : 61 (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.
Upon a current contact, Ms. Wong, SC's administrator, 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.
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 8-10-2006 was nil.
Banking relations are maintained principally with: Hua Nan Commercial
Bank Ltd.
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
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : (X) see below ( )
see per attached
Creation date : 9-3-2007
Charger(s) :
SC
Chargee(s) :
Hua Nan Commercial Bank Ltd.
Secured amount : ANS
Charge particulars : Security Over Deposits
(Fixed deposit: US$42,000)
Creation date : 3-4-2007
Charger(s) :
SC
Chargee(s) :
Hua Nan Commercial Bank Ltd.
Secured amount : ANS
Charge particulars : Security Over Deposits
(Fixed deposit: $US$50,000)
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2007
Year(s) in which mortgage satisfaction record(s) are filed: Nil
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 manufacturing & supply of leather products.
Items
available include belts, shoes, etc.
Production is assigned to its affiliated factory/joint venture
factory located at
Principal purchases :
Major
types of sourcing : Raw
materials & accessories
Local--type
of suppliers : Manufacturers
Buying
terms : COD
& credit of 30 days
Overseas--supplying
countries : PR China
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Manufacturers
Selling
terms : COD &
credit of 30 days
Overseas--buying
countries :
Selling
terms : L/C &
T/T
Total number of employees : 9.
Location : Maintaining
its office at the heading business address which occupies a gross area of 1,500
square feet at an industrial building in a commercial & industrial
district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
SC is not
known to have any subsidiary at present.
SC is considered small-sized in its line with an acceptable base to come
into credit dealings of small amount.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in
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%)