MIRA
INFORM REPORT
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Report Date : |
27.07.2007 |
IDENTIFICATION DETAILS
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Name : |
HOP LOK LEATHER FACTORY LTD |
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Registered Office : |
11FL Splendid Centre Block A |
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Country : |
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Date of Incorporation : |
02.04.1992 |
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Com. Reg. No.: |
0351891 |
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Legal Form : |
Private |
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Line of Business : |
Trading of leather goods and other leather products which
are manufactured by its Sales and distribution to local and overseas 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 : |
USD 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
HOP LOK LEATHER FACTORY LTD
11FL SPLENDID CENTRE BLOCK A
TEL: [+852] 23900268
FAX: [+852] 27899064
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 2, 1992
REGISTRATION NO. :
0351891
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHI-SANG CHAN (CHAIRMAN)
STAFF STRENGTH :
15
CAPITAL :
US$ 12,788
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
EXCHANGE RATE :
HKD 7.82360 = USD1 AS OF 2007-07-26
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*
===================
License number : 0351891
Date issued
: 2 April, 1992
Issuing authority : Companies Registry
Type of license : Corporate
License number : 15516507
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 100,000.00 divided into 100,000 ordinary shares at HKD 1.00/-each, fully
paid
*Office & Facilities*
================
Other Tel no. : 23900519
*Registrar*
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J & J COMPANY CONSULTANTS LTD
*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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Only Mr. Chi-sang Chan can sign on behalf of the company
with seal affixed.
*Company Secretary*
=================
J & J COMPANY CONSULTANTS LTD
Address :
Rm
CR no. : 108013
http:// www.hop-lok.com SC’s website is unable to be landed at present for the technical reason.
Email : willbut@hop-lok.com
For the 15 years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 4
Total number of ordinary shares : 100,000
Shareholders' Name No. of Ordinary Shares Amount of Shares (HKD) %
of Shares
--------------------------- ------------------------------ --------------------------------- ---------------
Chi-sang Chan 25,000 25,000.00 25.00
Chi-kin Chan 25,000
25,000.00 25.00
Kin-leung Ho 25,000 25,000.00 25.00
Kam-tak Law 25,000
25,000.00 25.00
*Directors' Details*
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Chi-kin Chan
HKID no. :
G174507(6)
Address : Flat B3, 18Fl Kam Wah Bldg 831D
Canton Rd Yaumatei Kowloon
Kin-leung Ho
HKID no. :
G128413(3)
Address : Flat G 19Fl
Kam-tak Law
HKID no. :
G021265(1)
Address : Flat A4, 21Fl Kam Wah Bldg 831A
Management : Ms. Jalice But, Representative
Name
Nationality Job
Description
Ms. Jalice But
*Key Personnel*
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Chi-sang Chan
HKID no. : G076311(9)
Address : Flat F
Responsibility :
Handles the overall management of the firm.
Jalice But
Email address : jalice@hop-lok.com
*Main Products & Services*
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Specializes in the following areas of work :
1. Trading of leather goods and other leather products which
are manufactured by its
2. Sales and distribution to local and overseas markets.
Products : Genuine leather goods
Leather bags
Leather belts
Leather bracelets
Leather coin purses
*Payment Terms*
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Sales
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Local : Cash or
Credit
Export : Letter of Credit (L/C)
Purchases
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Local : Cash or
Credit
Import : Letter of Credit (L/C)
*Quality Certification*
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Type of certification : ISO 9002
*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.
*Overseas Customers*
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Major overseas customers include :
Country Customer's Name
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USA OAKLEY INC
USA LEVI STRAUSS
& CO
Also include the following customers:
-
- BAS
- PHAT
- PATH
*Subsidiaries, Joint-ventures & Affiliates*
=================================
Maintains a factory located in
PAYMENT RATING :3 OBTAINED SCORES : 55
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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.
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 :
CITIBANK NA
Branch :
Central,
Branch Address :
50Fl
SWIFT Code :
CITIHKHX
SC is considered small-sized in its line with a long operating
history. It is considered a credit line
up to USD 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 3111 Leather, tanned or
finished
Trading 3172 Personal goods, of leather, except
handbags and purses
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 4202110030
Attaché cases, brief cases, school
satchels, occupational luggage cases and
similar
containers, with outer surf of leather, composition leather, patent lthr
Trading 4203
Articles of apparel &
access, leather & comp leather
Trading 4205
Articles of leather
Trading 4205000000
Other articles of leather or
composition leather
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Product/Service Description
Trader Leather organizers
Trader Leather diaries
Trader Leather pen box
Trader Leather purses
Trader Leather coin purses
Trader Leather luggage
Trader Leather bracelets
Trader Leather stationeries
Trader Genuine leather goods
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting
to
Exporting
to
Exporting
to
Exporting
to
Exporting
to
Importing
from
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%)