MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CHOP WI KEE |
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Registered Office : |
77, |
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Country : |
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Date of Incorporation : |
02 Jun 1958 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trading of Sundry Goods |
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 Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
* Adopted
abbreviations : SC - Subject Company ( the company enquired
by you)
N/A - Not Applicable
EXECUTIVE SUMMARY
REGISTRATION NO : 1417/58-S
BUSINESS NAME : CHOP WI KEE
COMMENCEMENT DATE : 02 Jun 1958
REGISTRATION DATE : 24
Jun 1958
EXPIRY DATE : N/A
BUSINESS CONSTITUTION : SOLE PROPRIETORSHIP
BUSINESS ADDRESS : 77,
TEL NO : 082 - 247424
FAX NO : 082 - 427458
CONTACT PERSON : WUI KUANG LIANG (OWNER)
INDUSTRY CODE : 51231
51239
PRINCIPAL ACTIVITY : TRADING OF SUNDRY GOODS
STAFF STRENGTH : 11
[2007]
BANKER (S) : MALAYAN BANKING BHD
LITIGATION : CLEAR
PAYMENT : N/A
MANAGEMENT CAPABILITY : AVERAGE
COMMERCIAL RISK : HIGH
CURRENCY EXPOSURE : NIL
GENERAL REPUTATION : SATISFACTORY
INDUSTRY OUTLOOK : AVERAGE GROWTH
HISTORY / BACKGROUND
The SC commenced its business on 02 Jun, 1958 as a SOLE PROPRIETOR.
The SC is a sole proprietorship, that is, it has a single owner whose
liabilities are unlimited. In case the SC is unable to meet all its
obligations, the creditors can claim on the owner's personal assets. The sole proprietorship ceases upon the death
of the owner or any time at the discretion of the owner. The ownership is
non-transferable. Under the law, the SC
has to file in its information with Registrar of Business but it is not
required to file in its financial statements.
The SC is principally engaged in the (as a / as an) trading of sundry
goods.
The SC is not listed on
The SC is not qualified to be one of the Top Corporate Performers in the
The owner of the SC are as follows :
Name Address
IC/PP/Loc No: Shareholding
MR. WUI KUANG LIANG K716007 100
601210-13-5207
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100
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+ Also Director
OWNER (S)
OWNER 1
Name of Subject : MR. WUI KUANG LIANG
IC / PP No. : K716007
New IC No : 601210-13-5207
Date of Birth : 10/12/1960
Nationality : MALAYSIAN CHINESE
MANAGEMENT
1) Name of Subject : WUI
KUANG LIANG
Position : OWNER
BANKING
Banking relations are maintained principally with :
1) Banker Name : MALAYAN
BANKING BHD
The SC enjoys normal banking routine with above mentioned banker(s).
No adverse record was found during our investigation.
LEGAL CHECK AGAINST
THE SC
* A check has been
conducted in our databank against the SC whether the subject has been
involved in any
litigation. Our databank consists of 99% of the wound up companies in
back dated since 1900.
No legal action was found in our databank.
PAYMENT RECORD
SOURCES OF RAW MATERIALS :
Local : YES Percentage : 60%
Overseas : YES Percentage : 40%
Import Countries :
The SC refused to furnish us with the suppliers' names. Without the
financial accounts, we are not able to comment on the SC's payment habit.
CLIENTELE
Local : YES Percentage : 100%
Domestic Markets :
Overseas : NO Percentage : 0
%
Credit Term : N/A.
Payment Mode : CASH , CHEQUES.
Type of Customer : END USERS.
OPERATIONS
Goods Traded : SUNDRY GOODS - RICE, FLOUR, ONIONS,
GARLIC, GRAINS,
CANNED
FOODS & OTHERS
Competitor(s) : LEE HENG CHEONG TRADING CO
CHOP
KEAN SENG
LIAN
HOE TRADING CO
ALAM
JAYA
SOLIDTON
Total Number of Employees :
YEAR 2007
GROUP N/A
COMPANY 11
Branch : NO
Other Information :
The SC is principally engaged in the (as a / as an) trading of sundry
goods.
RECENT DEVELOPMENT
We have checked with the Malaysian National News Agency's (BERNAMA) database, but no latest
development was noted in our investigation.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
Telephone Number Provided By Client : N/A
Current Telephone Number : 082-247424
Match : N/A
Address Provided By Client : 77,
Current Address : 77,
Match : YES
Other Investigations
On 19th June 2007, we conducted an interview with the SC's Owner, Mr
Wui. He furnished us some information on the SC.
FINANCIAL COMMENTS
We are unable to comment on the SC financial position as the SC is not
required by the law to file its financial statement in the Registrar of
Business.
COMMENTS
Incorporated in 1958, the SC known as sole-proprietorship. The SC is
principally engaged in the trading of sundry goods. Having been in the business
for 49 years, the SC has developed an extensive clientele based.
The SC concentrates solely on the local market. Therefore, the SC’s
business risk is high. The SC has 11 employees in its operation and the overall
management capability of the SC can be regarded as average.
As a sole-proprietorship, the SC is not required to file its financial
account. As such we are not able to comment on the SC's financial standing.
Investigation revealed that the SC's supplies are sourced from both
local and overseas suppliers. Hence, the SC is subjected to currency
fluctuation risk and high operating costs.
The industry shows an upward
trend and this trend is very likely to sustain in the near future. With the
promising outlook of the industry performance, the business potential of the SC
should be favourable.
In view of the above and based on our assessment, we only recommend
credit be granted to the SC under guarantee.
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%)