MIRA
INFORM REPORT
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Report Date : |
09.06.2007 |
IDENTIFICATION DETAILS
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Name : |
KY RESOURCE LTD |
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Registered Office : |
Unit F 8FL Kwai Tak Industrial Centre - Block 1, |
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Country : |
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Date of Incorporation : |
February 23, 1988 |
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Com. Reg. No.: |
210426 |
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Legal Form : |
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Line of Business : |
Trading wide range of leather. |
RATING & COMMENTS
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MIRA’s 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 20,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
name &
address
KY RESOURCE LTD
UNIT F 8FL KWAI TAK INDUSTRIAL CENTRE - BLOCK 1,
TEL : 852 27930083
FAX : 852 23429308
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 23, 1988
REGISTRATION NO. :
210426
CHIEF EXECUTIVE :
MR. JESSE JAMES SMITH (MANAGING
DIRECTOR)
STAFF STRENGTH :
15
CAPITAL :
US$ 199,744
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
EXCHNAGE RATE :
HKD 7.81178 = US$1 AS OF 2007-6-7
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*
===================
License number : 210426
Date issued : 23
February, 1988
Issuing authority : Companies
Registry
Legal form : Limited Liability
Company
Type of license : Corporate
License number : 11799753-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Registrar*
========
FOK'S SECRETARIAL SERVICES LTD
*Capital Details*
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Authorized capital : HKD
1,560,000.00 divided into 1,560,000 ordinary shares of HKD 1.00/-each, fully
paid
*Office & Facilities*
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Previous Contact Details
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Address : 11Fl
Date of relocation : July
2006
*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.
*Approved Signatures*
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Only Mr. David Yu-kong Tsui can
sign on behalf of the company with seal affixed.
Website : www.asiatan.com
E-mail :
jsmith@asiatan.com
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 ordinary shares :
1,560,000
Shareholders' Name No. of
Ordinary Shares Amount of Shares
(HKD) % of Shares
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FIRST
FIRST
*Directors' Details*
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Maggie Mei-Ying Leung
HKID no : E996202(A)
Email address :
maggie.leung@asiatan.com
Address : Rm 1616 Tim
David Yu-kong Tsui
HKID no : G652771(5)
Address : Flat D, 8Fl,
*Corporate Secretary*
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WIDEYIELD (NOMINEES) LTD
Address : Rm 907-908, 9Fl Kai Tak Commercial Bldg
CR no. : 83449
*COMPANY MANAGEMENT*
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Name Nationality
Job Description
Mr. Jesse James Smith Canadian
Managing Director
*Key Personnel*
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Jesse James Smith
Passport ID no : BD131104
Email address : jsmith@asiatan.com
Responsibility : Handles the
overall management of the company.
Address : 21F Di
*Main Products & Services*
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Specializes in trading wide range of leather.
Products : Cattle leather
Horse hides
Leather
*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)
*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.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : TECTUFF LTD
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Leather Goods, Tanned & Imitation
Company Name : TOPKING INDUSTRIAL LTD
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Leather Goods, Tanned & Imitation
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains a factory in Mainland
PAYMENT RATING : 4 OBTAINED SCORES : 48
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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.
*Bank Details*
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Bank Name : CITIBANK NA
Branch :
Branch Address : Rm 9/A Two Harbourfront 22 Tak Fung St (PO Box 14) Kowloon, Hong Kong
Swift code : CITIHKHX
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 in small size. 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
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
Trading 4101210020 Cattle hides, whole, fresh or wet-salted
Trading 4104 Bovine
or equine leather, no hair
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
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%)