MIRA
INFORM REPORT
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Report Date : |
01.06.2007 |
IDENTIFICATION DETAILS
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Name : |
KEI TAT CHEMICALS LTD. |
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Registered Office : |
Unit 1107-8, 11/F, Tower Ii, Metroplaza, |
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Country : |
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Date of Incorporation : |
5-8-1993 |
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Com. Reg. No.: |
440746 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading & supply of chemicals. |
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 USD30,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
KEI TAT CHEMICALS LTD.
UNIT 1107-8, 11/F, TOWER II, METROPLAZA,
TEL : 852 24222838
FAX : 852 24289059 / 24227222
EXECUTIVE SUMMARY
INCORPORATION DATE :
5-8-1993
REGISTRATION NO. :
440746
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : WONG CHI KI (DIRECTOR)
STAFF STRENGTH :
20
AUTHORIZED CAPITAL :
HK$10,000 = 10,000 SHARES @HK$1.-
PAID-UP
CAPITAL : HK$2
BUSINESS LINE :
TRADING & SUPPLY OF CHEMICALS
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES : N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80951 = USD1 AS OF 2007-5-31
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
SC is a private limited company registered under incorporation file no.
440746 on 5-8-1993.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 5-8-2006) Number
of shares held
Ho Shun Yuet Conny 1
Wong Chi Ki 1
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2
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Directors (as at 5-8-2006)
Ho Shun Yuet Conny / C447722(5)
Wong Chi Ki / G637499(8)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Our current search revealed certain material change or amendment of SC
has been recorded within the last 2 years & noted as follows:
Change of business address : SC moved to the heading business address
from Rm 3502, 35/F, Tower 2 of the captioned building (your given address) in
June 2006.
Wong Chi Ki, director:
- In his early 50's & married
- Embarked upon his career to present field as a small businessman in
his early 30's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: House 41H,
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
Ho Shun Yuet Conny, director:
- In her early 50's
- Embarked upon her career to present field in her early 30's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Wong Chi ki.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
records stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 3 Obtained scores : 60 (see explanatory notes
below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors
which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
Upon a current contact, Ho Shun Yuet Conny, SC's director, declined
forwarding any financial information on the ground that it is the company's
policy not releasing any data to a third party without the benefit of knowing
the identity of the inquiring party.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 5-8-2006 was ANS.
Banking relations are maintained principally with:
- Bank of
- HSBC
This section will contain the civil litigations & winding-up petitions
filed against SC for the last 6 years (as stored in our database), and the
mortgage/charge records filed by SC for the last 2 years. In
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : (X) see below ( )
see per attached
Creation date : 4-11-2005
Charger(s) :
SC
Chargee(s) :
HSBC
Secured amount : ANS
Charge particulars : Mortgage (Unit A4, Phase 1C,
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1994, 1996, 1997,
1998, 2000, 2004 & 2005
Year(s) in which mortgage satisfaction record(s) are filed: 2996, 1997,
1999, 2000 & 2005
Overall payment appraisal :
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment records and our debt collection record concerning SC.
Trade payment experience : Owing to the nature of its business, SC is not an active seeker of
local commercial credit since merchandise/materials are imported. Its expenses
in the form of accruals and servicing are reportedly met in prompt manner.
Delinquent
payment record : None in our database.
Debt
collection record : No overdue
amount owed by SC was placed to us for collection within the last 6 years.
Business categories :
SC is engaged in trading & supply of chemicals.
Items available include mink & fur chemicals, surfactant, water
treatment chemicals, leather dyestuffs, leather chemicals, perchloroethylene,
silica gel, potassium bichromate, titanium dioxide pigment, food chemicals
& paper making chemicals.
Holding sole agency of the following products:
Brand(s) & product(s) Producing
countries Distributing
area(s)
- Clariant / fur & leather chemical
- Kareno / Leather finishing
chemicals
- Kisc & Risco / leather dyestuff S.Korea -- ditto --
- DOW / surfactant
- PCE / chemical France -- ditto --
Principal purchases :
Major
types of sourcing : Chemicals
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries :
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Wholesalers &
industrial sector
Selling
terms : COD, credit
of 30 days & local L/C
Overseas--buying
countries : Taiwan & PR China
Selling
terms : L/C &
T/T
Total number of employees : 20.
Location : Maintaining
its office at the heading business address which occupies a gross area of 2,600
square feet at a commercial building in a commercial & residential
district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
SC is
not known to have any subsidiary at present.
SC is considered small-sized in its line with a long operating history. It
is considered a credit line up to USD 30,000 appears to be within SC’s
capacities.
NOTES:
Current land search indicates that SC owns the following premises:
- Address: Unit A4, Phase 1C,
- Owner(s): SC
- Date of purchase & consideration: 26-10-2005 / HK$6.2M
- Date of mortgage & secured amount: 4-11-2005 / ANS
- Mortgagee: HSBC
Our current search indicates that SC was involved in the following
property transaction:
- Address: Unit 2, Phase 1D,
Paloma Geranium Path,
- Assignor: SC
- Assignee: Kwong Po On + Yang
Willys
- Date of disposal & consideration:
15-1-1999 / HK$6.48M
The said premises was formerly purchased by SC at a consideration of
HK$5.6M on 1-8-1998.
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%)