MIRA
INFORM REPORT
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Report Date : |
11.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CHEMCO INDUSTRIES ( |
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Registered Office : |
Unit 12, 2FL Kin Fat Industrial Centre 13 Kin Fat St Tuen
Mun New Territories |
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Country : |
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Date of Incorporation : |
June 23, 1999 |
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Com. Reg. No.: |
0679891 |
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Legal Form : |
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Line of Business : |
Manufacturing of a wide range of fans and accessories. |
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 US$ 45,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
CHEMCO INDUSTRIES (
UNIT 12, 2FL KIN FAT INDUSTRIAL CENTRE 13 KIN FAT ST TUEN MUN
NEW TERRITORIES,
TEL : 852 24560198
FAX : 852 24560290
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 23, 1999
REGISTRATION NO. :
0679891
CHIEF EXECUTIVE :
MR. KAN-HOU CHUI (MANAGING DIRECTOR)
STAFF STRENGTH :
25
CAPITAL :
US$ 1,280
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.81275 = US$1 AS OF 2007-6-11
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 : 0679891
Date issued : 23 June,
1999
Issuing authority : Companies
Registry
Type of license : Corporate
License number : 30292879-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Company Name*
==============
Note : The company is registered as the one stated above, instead of
CHEMCO INDUSTRIES LTD as mentioned in the enquiry.
*Capital Details*
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Authorized capital : HKD 10,000.00 divided into 10,000 ordinary shares
at HKD 1.00/-each, fully paid
*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. Kan-hou Chui can sign on behalf of the company with seal
affixed.
Website : www.chemco.com.hk The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
E-mail :
info@chemco.com.hk
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 : 10,000
Shareholders' Name
No. of Ordinary Shares Amount
of Shares (HKD) % of Shares
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Mr. Kan-hou Chui 9,999
9,999.00
99.99
Mr. Nicholas Kheng-tiong Ang 1
1.00 0.01
*Director's Details*
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Mr. Nicholas Kheng-tiong Ang
Passport no : S84313761 (
Address : Block
*Company Secretary*
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Mr. Sze-kin Lo
HKID no : K557172(3)
Address : Unit 12, 2Fl Kin Fat
Industrial Centre 13 Kin Fat St Tuen Mun New Territories
*COMPANY MANAGEMENT*
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Name Nationality
Job Description
Mr.
Ms. Carissa Yu
*Key Personnel*
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Mr. Kan-hou Chui
HKID no : K537926(1)
Address : Unit A Block 8,
3Fl
*Main Products & Services*
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Specializes in the following areas of work :
1. Manufacturing of a wide range of fans and accessories.
2. International and local distribution of manufactured products.
Products : Axial belt driven fans
Axial flow
fans
Cabinet fans
Centrifugal
fans
Duct fans
*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)
*Detailed Product Specifications*
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Product
Description
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A09 Axial Flow Fans - Axial fan c/w high
temperature, motor with standard and external rotor,
motor with stepless adjustable pitch angle
G03 Garage Extract Fans
- Belt driven, direct driven and speed controllable
K01 Duct Fans and Tube Fans
- Duct fans - forward curved and backward curved impeller, direct driven
Tube fans - with centrifugal and mixed
flow impeller
K02-3 Cabinet Fans - Direct and belt
driven
M08-5 Centrifugal Fans
- Belt driven, double inlet & single inlet and with backward and
forward curved
impellers
R04-1 Chemco Fan - Chemical resistant radial
fans
R06-2 Centrifugal Fans
- Air extract boxes / direct driven fans single inlet, standard motor
Marine Fan - Full ranges
of fans suitable for marine application
WX1-1GE - Full
ranges of fans for building services application
Axial Belt Driven Fan - Axial flow fans of
belt driven type for special application
Jet Fans -
Car park jet fans for normal ventilation, CO and smoke exhaust
application
FRE
- Tube fans of RFE and RFG are axial flow fans with integrated guide
vane,
both sides of the fan can be fitted
into the tube and be fixed with
fast clamps
*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 sales and service network in 12 countries, joint-ventures with
partners from
Also maintains overseas office with the following details :
(1)
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Address :
Tel no :
769-86557298
Fax no : 769-86557298
Contact person : He Sheng
(2)
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Address : Block 4009
Techplace 1
Tel no : 97524576
Fax no : 63529547
Email : twchui@singnet.com.sg
Contact person : Gerard Chui T.W.
*IMPORTER AGENCY LISTING*
===========================
Supplier : WOLTER GMBH CO KG
Country of Origin :
Product Description : Fans
Brand : WOLTER
Year : 2003
PAYMENT RATING : 3 OBTAINED SCORES : 55
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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.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a development history of 8
years. It is considered a credit line up to US$
45,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 3564 Fans
and blowers, except household type; dust collection and air purification
equipment;
and parts
Manufacturing 3672 Printed
circuit boards
Manufacturing 3699 Electrical
equipment and supplies and parts
Manufacturing 5064 Electrical
Appliances
Trading 3564 Fans
and blowers, except household type; dust collection and air purification
equipment;
and parts
Trading 3672 Printed
circuit boards
Trading 3699 Electrical
equipment and supplies and parts
Trading 5064 Electrical
Appliances
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 8203202000 Tweezers
base metal
Manufacturing 8414 Air
or vacuum pumps, compr & fans; hoods & fans; parts
Manufacturing 8414596060 Fans,
centrifugal
Manufacturing 8414596090 Fans,
axial
Manufacturing 8414596095 Fans
Manufacturing 8414809000 Air
or vacuum pumps, air or other gas compressors and fans; ventilating or
recycling
hoods incorporating a fan, whether fitted with filters
Manufacturing 8414901000 Parts
of fans (including blowers) and ventilating or recycling hoods
Manufacturing 8483509080 Pulley
blocks and pulleys
Manufacturing 8534 Printed circuits
Trading 8203202000 Tweezers
base metal
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturing ESD equipment
Manufacturing Fans
Manufacturing Garage extract fans
Manufacturing In-line fans
Manufacturing Stackable
Manufacturing Solvent dispenser
Manufacturing Reversible axial flow fans
Manufacturing Pulley
Manufacturing PCB (printed circuit boards)
Manufacturing Motor rails
INTERNATIONAL TRADE : ACTIVITY & MARKETS
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%)