MIRA
INFORM REPORT
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Report Date : |
27.07.2007 |
IDENTIFICATION DETAILS
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Name : |
LEATHER PORT INT'L LTD |
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Registered Office : |
Mezzanine Fl Tsun Mee Industrial Bldg 8 Wang Yip St East
Yuen Long New Territories |
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Country : |
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Date of Incorporation : |
August 19, 2006 |
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Com. Reg. No.: |
1068109 |
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Legal Form : |
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Line of Business : |
Importing of cow skin and cow hides, manufactured by its Local distribution of imported products. |
RATING & COMMENTS
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MIRAs 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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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
name &
address
LEATHER PORT INT'L LTD
MEZZANINE FL TSUN MEE INDUSTRIAL BLDG
EAST YUEN LONG NEW TERRITORIES,
TEL : 852 24771866
FAX : 852 24783128
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 19, 2006
REGISTRATION NO. :
1068109
CHIEF EXECUTIVE :
MR. KWAN-CHUEN WONG (CHAIRMAN)
STAFF STRENGTH :
2
CAPITAL :
US$ 1,279
BUSINESS LINE :
TRADER
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : AVERAGE
GENERAL REPUTATION : N/A
EXCHNAGE RATE :
HKD 7.82378 = US$1 AS OF 2007-7-26
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 : 1068109
Date issued : 19 August,
2006
Issuing authority : Companies
Registry
Type of license : Corporate
License number : 37071391
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*
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Due to the recent incorporation of the firm, no meaningful points of
reference in terms of reputation within the respective industry was possible.
*Approved Signatures*
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Mr. Kwan-chuen Wong can sign on behalf of the company with seal affixed.
E-mail : siukee1981@netvigator.com
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 shares
: 100
Shareholders' Name No. of Shares % of Shares
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Kwan-chuen Wong 50 50.00
Yui-chuen Wong
50
50.00
*Company Secretary*
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Yui-chuen Wong
National ID no. :
C367057(9)
Address :
8Fl-D
Date of appointment : 19 August,
2006
Qualification :
Merchant
Previous Corporate Secretary
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GREAT FAITH SECRETARIAL SERVICES LTD
Address : Rm
2007 Wellborne Commercial Centre
Date of resignation : 19 August,
2006
*Key Personnel*
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Kwan-chuen Wong
Address : 8Fl-D
Qualification : Merchant
Responsibility : Handles the
overall management of the company
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing of cow skin and cow hides, manufactured by its
2. Local distribution of imported products.
Products : Cow hides
Cow skin
*Payment Terms*
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Sales
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Local : Cash or Credit
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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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains a factory in
PAYMENT RATING : 4 OBTAINED SCORES : 46
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Implication |
Implications |
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1 |
Scores 85100 |
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 : BANK OF
Branch : West Kowloon,
Swift code : BKCHHKHH
As a private limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
Additionally as the company was only established eleven (11) months ago
no financials have been lodged.
SC was established
recently in 2006, and its credit has not been established yet. With regard to
its size of operation and limited growth potential, credit should be confined
to small amount at present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 0271 Furskins,
raw or undressed and fur-bearing animals
Trading 3100 Leather
and Leather Products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4100 Raw
hides & skins & leather
Trading 4101 Raw
hides & skins of bovine or equine animals
INTERNATIONAL TRADE : ACTIVITY & MARKETS
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 SCs 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%)