MIRA
INFORM REPORT
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Report Date : |
5th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MAN CHEONG PIECE GOODS CO |
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Registered Office : |
Rm A 2fl Ming Wah Bldg 32-38 Fuk Wah St, Sham Shui Po Kowloon, Hong
Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.07.1975 |
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Com. Reg. No.: |
04579512-000 |
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Legal Form : |
Private |
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Line of Business : |
Engaged trading textile products. |
RATING &
COMMENTS
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MIRA’s Rating : |
NR (No Rating) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
Company Name & Address
MAN CHEONG PIECE
GOODS CO
RM A 2FL MING WAH BLDG 32-38 FUK WAH ST, SHAM SHUI PO KOWLOON, HONG KONG
TEL : N/A
FAX : N/A
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 1, 1975
REGISTRATION NO. :
04579512-000
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SHUI-LOY WAN (REPRESENTATIVE)
STAFF STRENGTH :
N/A
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : NR
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : N/A
EXCHANGE RATE :
HKD 7.81645 = US$1 AS OF 2007-3-3
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –Hong Kong Dollars
*Company Registration*
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License number : 04579512-000
Date issued : 1 July, 1975
Issuing authority : Business Registration Office -
Inland Revenue Dept
Legal form : Individual Business
Type of license : Business
SC is not known to host website of its own at present.
Litigation ( 1 )
Position :
Defendant
Other Parties Involved :
Position Country Party's Name
Plaintiff Taiwan GTM CORP
Case Issue : A petition to the court claiming overdue payment amounting
to
HKD 785,789.83 for goods sold and delivered (filed under case no. 03J07141)
Court : District Court, Hong Kong
Date Commenced : December, 2003
Status : Not stated
*Major Shareholders*
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Under Hong Kong corporate law, there is no existing
"shareholder" in a sole proprietorship.
Management: Mr. Shui-loy Wan, Representative
Name Nationality Job Description
Mr. Shui-loy Wan Hong
Kong Representative
*Key Personnel*
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Shui-loy Wan
HKID no. : A8567703
Address : Rm A 10Fl Faraday House Block 2, 6 Tsing
Yung St, Tuen Mun, New Territories, Hong Kong
*Main Products & Services*
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Believed to be engaged trading textile products.
Products: Piece goods
Textiles
*Operations Status*
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No telephone listing could be found for the company. It is therefore not
possible to contact the company directly to obtain further information. The
nature and extent of the company's operations could not be determined and it
could not be confirmed whether the company operates from the Registered Office
address or in another location.
*LOCAL BRANCHES & MANAGEMENT*
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Branch :
MAN CHEONG PIECE GOODS CO - HONG KONG
Branch Address : 9Fl
Taikoo Place - North Somerset House 979 King's Rd Hong Kong,
PAYMENT
RATING : NR OBTAINED SCORES : 0
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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
MODERATE 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.
BASED ON THE INVESTIGATIONS PERFORMED, IT HAS NOT BEEN POSSIBLE TO
PREPARE A NORMAL CREDIT REPORT ON THE COMPANY. GIVEN THE CIRCUMSTANCES, CAUTION IS ADVISED RELATED TO DEALINGS
WITH PERSONS CLAIMING TO REPRESENT SUCH AN ENTITY.
ATTACHED: TRADE REFERENCES
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2200 Textile
Mill Products
Trading 2299 Textile
goods
Trading 5131 Piece
Goods/Other Dry Goods
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 5900 Impregnated,
coated, covered, or laminated textile prod, textile prod for industrial use
Trading 5911 Textile
products etc. for specific tech uses
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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions