MIRA
INFORM REPORT
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Report Date : |
04.06.2007 |
IDENTIFICATION DETAILS
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Name : |
YAT SUN DYESTUFFS & CHEMICALS CO LTD |
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Registered Office : |
Flat A 11fl Goodwill Industrial Bldg 36-44 Pak Tin Par St
Tsuen Wan New Territories |
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Country : |
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Date of Incorporation : |
May 22, 1965 |
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Com. Reg. No.: |
0011547 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Distribution of a wide range of dyestuff and chemical products for textile
and leather. |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Up To USD 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
name & address
YAT SUN DYESTUFFS & CHEMICALS CO LTD
FLAT A 11FL GOODWILL INDUSTRIAL BLDG 36-44 PAK TIN PAR ST
TSUEN WAN NEW TERRITORIES,
TEL : 852-24023933
FAX : 852-24179323
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
22, 1965
REGISTRATION NO. :
0011547
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MS. SUET-LAM LI-NGO (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 76,825
BUSINESS LINE :
TRADER
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 7.80984 = US$1 AS OF 2007-6-1
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*
===================
(1)
License number : 0011547
Date issued : 22 May,
1965
Issuing authority : Companies
Registry
Legal form : Private
Limited Company
Type of license : Corporate
(2)
License number : 01902768
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Office & Facilities*
===============
Size : 1,500
sq. ft.
Location : Industrial
district
Property status : Owned by
Suet-lam Li-ngo
Type of building : Industrial
building
Remarks : Current land
search on the above premise indicates the following:
Ownership
: Suet-lam Li-ngo
Date of purchase & amount: 19 February, 1994/HKD2,280,000
Date of mortgage &
amount: 4 July, 2000/amount not specified
Mortgagee
: SHANGHAI COMMERCIAL BANK LTD
Other e-mail address : szyatsun@hotmail.com
*Capital Details*
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Authorized capital : HKD 600,000 divided into 6,000 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.
E-mail: sale@yatsun.com.hk
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholder
: 4
Total number of ordinary shares : 6,000
Shareholders' Name No. of
Ordinary Shares Amount of Shares
(HKD) % of Shares
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Suet-lam Li-ngo 5,223
522,300.00
87.05
Irene Henderson 377
37,700.00
6.28
Kit-ching Lam 200
20,000.00
3.33
Mi-ying Wong 200
20,000.00
3.33
Share transfers :
Date No. of
shares Transferor(s) Transferee(s)
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14 June, 2006
377 Kin-hung Li Suet-lam Li-ngo
*Directors' Details*
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Mi-ying Wong
Overseas Passport no. :
C461541(5)
Address :
Flat A 36Fl The Pacifiica Block 7,
Shareholders Details
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Irene Henderson
Address :
9616 Wexford Circle Grabute Bat
*Company Secretary*
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Mi-ying Wong
Overseas Passport no. :
C461541(5)
Address
: Flat A 36Fl The Pacifiica Block 7,
Management: Mr. Kit-ching Lam, General Manager
Name Nationality
Job Description
Mr. Kit-ching Lam
*Key Personnel*
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(1)
Suet-lam Li-ngo
HKID no. : A748506(1)
Address :
Flat B 31Fl
Responsibility :
Handles the overall management of the firm.
(2)
Kit-ching Lam
HKID no. :
P109972(1)
Overseas Passport no. : BC028874
Address :
Flat E 32Fl Villa Esplanda Block 11 Tsing Yi Island New Territories
*Main Products & Services*
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Specializes in the distribution of a wide range of dyestuff and chemical
products for textile and leather.
Products: Chemical products
Dyestuff
Leather
chemicals
Leather,
dyestuffs
Textile chemicals
*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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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Charge*
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As per current company search, total amount of indebtedness of the
company in respect of all mortgages and charges which are required to be
registered with Companies Registry was HKD 3,500,000.00
*Local Distribution Network*
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Part 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 a representative office in
Tel nos. : 755-25708429, 25737670
Fax no. : 755-25824708
PAYMENT RATING : 3 OBTAINED SCORES : 57
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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 MODERATE
amounts depending on individual judgement experience.
*Bank Details*
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Bank name : SHANGHAI
COMMERCIAL BANK LTD
Branch :
Account number :
025-333-82-06099-9
Swift code : SCBKHKHH
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 with acceptable financial
base to meet moderate amount of credit dealings.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2800 Chemicals
and Allied Products
Trading 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3204130000 Basic
dyes and preparations based thereon
Trading 3204192550 Solvent
dyes & preparations based thereon
Trading 3800 Miscellaneous
chemical products
Trading 3823905050 Chemical
products and preparations of the chemical or allied industries
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trading Textile dyestuff
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
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%)