MIRA
INFORM REPORT
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Report Date : |
05.07.2007 |
IDENTIFICATION DETAILS
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Name : |
PEGASUS POLYMERS ASIA LTD
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Registered Office : |
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Country : |
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Date of Incorporation : |
September 1, 1988 |
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Com. Reg. No.: |
226042 |
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Legal Form : |
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Line of Business : |
Trading plastic raw materials and chemical products. |
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 : |
Up To US$ 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
PEGASUS POLYMERS ASIA LTD
TSIMSHATSUI
TEL : 852 23683282
FAX : 852 23110233
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 1, 1988
REGISTRATION NO. :
226042
CHIEF EXECUTIVE :
MR. MICHAEL KANE (MANAGER)
STAFF STRENGTH :
10
CAPITAL :
US$ 25,575
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.81184 = US$1 AS OF 2007-7-4
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
*Company Registration*
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License number : 226042
Date issued : 1
September, 1988
Issuing authority : Companies
Registry
Legal form : Private
Limited Company
License number : 12148890
Issuing authority : Business
Registration Office - Inland Revenue Dept
*Company Name*
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Incorporated as :
MUEHLSTEIN EAST ASIA LTD
Date of incorporation : 1
September, 1988
Changed name to : PEGASUS
POLYMERS ASIA LTD
Date of change : 6
September, 1994
*Registrar*
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- JOHNSON STOKES & MASTER
*Capital Details*
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Share value : HKD
10.00/-each
Authorized capital : HKD 200,000.00
Paid-up capital : HKD
1,000.00 divided into 100 ordinary shares
*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 Mr. Mark D. Lux can sign on behalf of the company with seal
affixed.
E-mail : nikki.chan@pegasuspolymers.com.hk
SC is not known to host website of its own at present.
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 ordinary shares : 100
Shareholders' Name No. of Ordinary
Shares Amount of Shares (HKD) % of Shares
--------------------------- ------------------------------- --------------------------------- ----------------
MUEHLSTEIN INT'L LTD 99
990.00
99.00
PEGASUS POLYMERS INT'L INC 1
10.00
1.00
*Directors' Details*
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John Kevin Donohue
Address :
Mark D. Lux
Address :
Ronald Joseph Restivo
Address :
*Company Secretary*
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SEKOTS SECRETARIAL SERVICES LTD
Address : 16 - 19Fl Prince's Building
CR no : 28739
*COMPANY MANAGEMENT*
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Name Nationality
Job Description Dept. / Division
Mr. Michael Kane American Manager
Regional
Mr. Davy Chan
*Main Products & Services*
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Specializes in trading plastic raw materials and chemical products.
Products : Chemical products
Plastic raw
materials
Synthetic
lattices
Synthetic
resin
Synthetic
rubber
*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.
*Imports*
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Products are imported worldwide.
*Export Markets*
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Part of the annual turnover is attributed to export.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains an office in
PAYMENT RATING : 3 OBTAINED SCORES : 56
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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.
*Bank Details*
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Bank Name : CITIBANK NA
Branch : Central,
Branch Address : 50Fl
SWIFT Code : CITIHKHX
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered an old-established business in small size. It is
considered a credit line up to US$
10,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2800 Chemicals
and Allied Products
Trading 2821 Plastics
materials and resins
Trading 2822 Synthetic
rubber
Trading 3000 Rubber
& Misc. Plastics
Trading 3069 Fabricated
rubber products
Trading 3089 Plastics
products
Trading 5162 Plastics
Mat'ls/Basic Forms
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3800 Miscellaneous
chemical products
Trading 3900 Plastics
& articles thereof
Trading 3926 Articles
of plastics (inc polymers & resins)
Trading 3926909050 Other
articles of plastic
Trading 4000 Rubbers
& articles thereof
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
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%)