MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
OCEAN INDUSTRIAL TRADING CO LTD |
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Registered Office : |
7FL International Industrial Centre - Block M 2-8 Kwai Tei
St Fo Tan Shatin New Territories |
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Country : |
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Date of Incorporation : |
November 21, 2006 |
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Com. Reg. No.: |
1089075 |
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Legal Form : |
Private |
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Line of Business : |
Trading wide range of bags and handbags. Sales and distribution to local and export markets. |
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 USD 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
name &
address
OCEAN INDUSTRIAL TRADING CO LTD
7FL INTERNATIONAL INDUSTRIAL CENTRE - BLOCK M
TEL : [+852] 26010342
FAX : [+852] 26010548
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 21, 2006
REGISTRATION NO. :
1089075
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HOI-FONG HO (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 1,279
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT : FAIR
RECOMM.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.82035 = USD1 AS OF 2007-07-18
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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(1)
License number : 1089075
Date issued
: 21 November, 2006
Issuing authority :
Companies Registry
Legal form
: Private Company Limited by Shares
Type of license :
Corporate
(2)
License number :
37398387-000
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 10,000.00 divided into 10,000
shares at HKD 1.00/-each
*Reputation*
==========
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. Hoi-hung Tse can sign on behalf of the company with seal
affixed.
*Company Secretary*
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FULL OCEAN SECRETARIES LTD
Address
: Rm 605-6, 6Fl Sino Centre
License number
: 123201
Date of appointment :
28 November, 2006
Email : oceanlgl@netvigator.com
SC is not known to host website of its own at present.
For the past months there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 2
Total number of shares : 2
Shareholders' Name No. of Shares Amount of Shares (HKD) % of Shares
-------------------------- ------------------- ---------------------------------- ----------------
Mr. Hoi-hung Tse 1 1.00 50.00
Mr. Hoi-fong Ho 1 1.00 50.00
*Director's Details*
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Mr. Hoi-hung Tse
HKID number
: H400274(3)
Founder
: Co-Founder
Address
: 7Fl International Industrial Centre - Block M 2-8 Kwai Tei St Fo Tan
Shatin New Territories
*Key Personnel*
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Mr. Hoi-fong Ho
HKID number : H003389(A)
Founder : Co-Founder
Address : 7Fl International
Industrial Centre - Block M 2-8 Kwai Tei St Fo Tan Shatin New Territories
Responsibility : Handles the overall management of the
company.
*Main Products & Services*
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Specializes in the following areas of work :
1. Trading wide range of bags and handbags which are
manufactured by its
2. Sales and distribution to local and export markets.
Products : Backpacks
Bags
Handbags
*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.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES : 35
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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.
*Bank Details*
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Bank name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch :
Central
Swift code : HSBCHKHH
SC is considered small-sized in its line with a short operating history.
A credit line up to USD 5,000 would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading 2389 Apparel and accessories
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading
4200 Articles of leather, saddlery &
harness, travel goods, handbags, articles of gut
Trading 4202923020 Backpacks,
of man-made fiber
Trading 4202926000 Other bags, of cotton
INTERNATIONAL TRADE : ACTIVITY & MARKETS
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%)