MIRA
INFORM REPORT
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Report Date : |
19.06.2007 |
IDENTIFICATION DETAILS
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Name : |
PADWORTH CO LTD |
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Registered Office : |
Unit 1508, 15FL Ming Pao Industrial Centre - Block B 18 Ka
Yip St Chai Wan |
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Country : |
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Date of Incorporation : |
January 16, 1987 |
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Com. Reg. No.: |
0181234 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of wood products for making furniture. Sales and distribution to local and international market. |
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 75,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
PADWORTH CO LTD
UNIT 1508, 15FL MING PAO INDUSTRIAL CENTRE - BLOCK
B 18 KA YIP ST CHAI WAN
TEL : 852-25950738
FAX : 852-25057125
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 16, 1987
REGISTRATION NO. :
0181234
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. RAMANATHAN GOWTHAMAN (CHAIRMAN)
STAFF STRENGTH :
30
CAPITAL :
US$ 128,041
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81741 = US$1 AS OF 2007-6-19
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 : 0181234
Date issued : 16
January, 1987
Issuing authority : Companies
Registry
Type of license : Corporate
Legal form : Private
Limited Company
(2)
License number : 10750015
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Trading Name*
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Although the company is legally registered by the name listed above, it
is commonly known by the following Trading Names under which it operates
locally:
- PACIFIC COLOR INDUSTRIES
- PACIFIC
- FAR EAST BIKE TRADING CO
*Capital Details*
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Authorized capital : HKD
1,000,000.00 divided into 1,000,000 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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Mr. Ramanathan Gowthaman can sign on behalf of the company with seal
affixed.
E-mail: padworth@netvigator.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 :
1,000,000
Shareholders' Name
No. of Ordinary Shares Amount
of Shares (HKD) % of Shares
-------------------------- ------------------------------- --------------------------------- ----------------
Ramanathan Gowthaman 999,999 999,999.00 100.00
Vasanthi Gowthaman 1
1.00 0.00
*Director's Details*
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Vasanthi Gowthaman
HKID number :
K132066(1)
Address : Unit
1508 15Fl Ming Pao Industrial Centre - Block B 18 Ka Yip St Wanchai Hong
Kong
*Key Personnel*
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Ramanathan Gowthaman
HKID number :
K045719(1)
Address : Unit
1508 15Fl Ming Pao Industrial Centre - Block B 18 Ka Yip St Wanchai Hong Kong
Responsibility :
Handles the overall management of the firm.
*Main Products & Services*
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Specializes in the following areas of work :
1. Trading of wood products for
making furniture.
2. Sales and distribution to
local and international market.
Products : Wood products
*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)
*Imports*
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Some of the finished products are imported mainly from
*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 mainly to Southeast
Asia and
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 56
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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.
*BANK DETAILS*
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Bank Name : BELGIAN BANK
Branch : Wanchai,
Branch Address : 27Fl Fortis Bank Tower
SWIFT Code : This bank does not have a SWIFT Code
SC is considered an old-established business with stable development
trend. It is considered a credit line up to USD 75,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2499 Wood
products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4421 Articles
of wood
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Importing from
Importing from
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%)