MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
VN WORKSHOP |
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Registered Office : |
Flat C 5fl Fung Yu Industrial Bldg |
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Country : |
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Date of Incorporation : |
15.11.2005 |
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Com. Reg. No.: |
36207307-000 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Specializes in trading hand crafted jewelry and designed
t-shirts for men and women |
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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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
VN WORKSHOP
FLAT C 5FL FUNG YU INDUSTRIAL BLDG
TOKWAWAN
TEL: 852-26271670
FAX: 852-26271650
EXECUTIVE SUMMARY
INCORPORATION DATE : NOVEMBER 15, 2005
REGISTRATION NO. : 36207307-000
LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE : MS. VIVIAN PUI-SAN LAU (CHAIRMAN)
STAFF STRENGTH : 1
CAPITAL : N/A
BUSINESS LINE : TRADER
TURNOVER : N/A (AS OF DEC. 31, 2006)
EQUITIES : N/A (AS OF DEC. 31, 2006)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : HKD 7.81665 = US$1 AS OF 2007-6-13
Company Registration
License number : 36207307-000
Date issued : 15 November, 2005
Issuing authority : Business Registration Office - Inland Revenue Dept
Type of license : Business
Reputation
Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative information.
E-mail: vn_workshop@yahoo.com.hk
For the past two years there is no record of litigation.
Major Shareholders
Under
Based on corporate filing regulations for this type of entity
in
Key Personnel
Ms. Vivian Pui-san Lau
Founder : Sole Founder
HKID no : D8362948
Mobile no : 98489960
Addresses : - Rm 1912 King Yu Hse King Lam Estate Tseung
Kwan O Kowloon,
- 5Fl
Responsibility : Handles the overall management of the company.
Main Products & Services
Specializes in trading hand crafted jewelry and designed t-shirts for men and women.
Products:
Designed t-shirt
Fashion products
Hand crafted jewelry
Jewelry
T-shirts
Payment Terms
Sales
Local : Cash or Credit
Purchases
Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Local Distribution Network
100% of the annual turnover is attributed to local sales.
Export Markets
There is no record of export since the prime focus of the firm's activity is concentrated on local sales only.
SC is not known to have any subsidiary at present.
PAYMENT RATING :4 OBTAINED SCORES : 40
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Rating Key |
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 sole proprietorship there is no legal requirement according to local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line locally. With regard to its size of operation and limited growth potential, credit should be confined into small amount at present.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2300
Apparel/Other Textile
Products
Trading 2321
Men's and boys' shirts
Trading 2331
Women's and misses'
blouses and shirts
Trading 2389
Apparel and accessories,
nspf
Trading 3961
Jewelry of materials other
than solid gold, platinum & silver
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4203100090
Articles of apparel
Trading 6109
T-shirts, singlets, tank
tops etc, knit or crocheted
Trading 6109100013
Men's or boys t-shirts except white underwear,
of cotton, knitted or crocheted
Trading 6109901055
Women's or girls' t-shirts of
manmade fibers, knitted or crocheted
Trading 6200
Articles of apparel &
clothing accessories-not knitted or crocheted
Trading 7113
Articles of jewelry &
parts, of precious metal or clad
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 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%)