MIRA
INFORM REPORT
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Report Date : |
16.07.2007 |
IDENTIFICATION DETAILS
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Name : |
WHEELTEC ENTERPRISE LTD
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Registered Office : |
Rm 1101-1104, 11 Floor Wing Kut Industrial Bldg - Block B 608, |
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Country : |
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Date of Incorporation : |
02.01.1987 |
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Com. Reg. No.: |
0180581 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Trading a wide range of leather goods, handbags, wallets, purses,
backpacks, and travel goods which are manufactured by its Export and local sales of leather goods product |
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 : |
US$ 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
WHEELTEC ENTERPRISE LTD
RM 1101-1104, 11FL WING KUT INDUSTRIAL BLDG - BLOCK B 608
TEL: 852 27860868
FAX: 852 27860622
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 2, 1987
REGISTRATION NO. :
0180581
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. PUI-KUEN LEUNG (CHAIRMAN)
STAFF STRENGTH :
20
CAPITAL :
US$ 1,023,018
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 :
AVERAGE
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.8205 = US$1 AS OF
*Company Registration*
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License number : 0180581
Date issued :
2 January, 1987
Issuing authority : Companies Registry
Type of license : Corporate
License number : 10783012-000
Date issued : N/A
Issuing authority : Business Registration Office - Inland
Revenue Dept
Type of license :
Business
*Capital Details*
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Authorized capital : HKD
8,000,000.00 divided into 80,000 ordinary shares at HKD 100.00/-each, fully
paid
*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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Mr. Tang Suk-yee Leung can sign on behalf of the company with seal
affixed.
E-mail : rianne@wheeltec.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 :
80,000
Shareholders' Name No.
of Ordinary Shares Amount of Shares
(HKD) % of Shares
Mr. Pui-kuen Leung
48,000
4,800,000.00
60.00
Mr. Tang Suk-yee Leung
32,000
3,200,000.00
40.00
*Directors' Details*
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Mr. Tang Suk-yee Leung
HKID number : D158756(1)
Address : Flat D 28Fl Block 8
Mr. Ching-wai Yau
HKID number : C433461(0)
Address : Flat E 11Fl Tsuen Wan Plaza - Block 2 Tai Pa
St Tsuen Wan New Territories Hong Kong
*Company Secretary*
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CS COMPANY SECRETARY LTD
Address : Rm 1910, 19Fl
Tuen Mun Parklane Square 2 Tuen Hi Rd Tuen Mun New Territories
*Key Personnel*
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Mr. Pui-kuen Leung
HKID number : A974316(5)
Address : Flat D 28Fl Block 8
Responsibility : Handles the overall management of the
company.
*OPERATIONAL STATUS*
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The Subject Business Entity does NOT maintain an operational office at
the address listed above. The office located at the address above (including
telephone and fax numbers) is operated and managed by a firm specializing in
Corporate Secretarial /
The name of the Corporate Secretarial /
CS COMPANY SECRETARY
LTD
*Main Products & Services*
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Specializes in the following areas of work :
1. Trading a wide range of leather goods, handbags, wallets, purses,
backpacks, and travel goods which are manufactured by its
2. Export and local sales of leather goods product.
Products :
Backpacks
Handbags
Leather goods
Purses
Travel goods
*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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Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
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Majority 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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Maintains factory in
PAYMENT RATING :3 OBTAINED SCORES : 53
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Rating Key |
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 : DAH SING BANK
LTD
Branch :
Swift code : DSBAHKHH
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$ 20,000 appears to be within SC’s
capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3100
Leather and Leather
Products
Trading 3199
Leather goods
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4200
Articles of leather,
saddlery & harness, travel goods, handbags, articles of gut
Trading 4202
Travel goods, handbags,
wallets, jewelry cases etc
Trading 4205
Articles of leather
Trading 4205000000
Other articles of leather or
composition leather
Trading 4205008000
Other articles of leather or
composition leather
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Travel goods
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
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%)