MIRA
INFORM REPORT
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Report Date : |
06.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
KWOK KWONG ENTERPRISES LTD. |
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Registered Office : |
Room 1303, 13/F, Telford House, 16 Wang Hoi Road, Kowloon
Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
9-1-2006 |
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Com. Reg. No.: |
1018055 |
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Legal Form : |
Private |
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Line of Business : |
Manufacturing & supply of chemicals products. |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
KWOK KWONG ENTERPRISES LTD.
ROOM 1303, 13/F, TELFORD HOUSE, 16 WANG HOI ROAD,
KOWLOON BAY, KOWLOON, HONG KONG.
TEL: 852 27551028
FAX: 852 27554428
EXECUTIVE SUMMARY
INCORPORATION DATE :
9-1-2006
REGISTRATION NO. :
1018055
REGISTERED LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : CHOI WING SHING ANDY (DIRECTOR)
STAFF STRENGTH :
12 (SHARING WITH ITS AFFILIATES)
AUTHORIZED CAPITAL :
HK$16.8M = 16.8M SHARES @ HK$1.-
PAID-UP
CAPITAL : HK$1
BUSINESS LINE :
MANUFACTURE & SUPPLY OF CHEMICALS PRODUCTS S
TURNOVER :
N/A (AS OF DEC. 31, 2004)
EQUITIES :
N/A (AS OF DEC. 31, 2004)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81645 = USD1 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
SC is a private limited company registered under incorporation file no.
1018055 on 9-1-2006.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 9-1-2007) Number
of shares held
Choi Wing Shing Andy 1
==
Directors (as at 9-1-2007)
Choi Wing Shing Andy / K276044(4)
No material change or amendment regarding SC has been traced & noted
within last 2 years.
Total number of employees : 12 (sharing with its affiliates).
Location : Maintaining
its office at the heading business address which occupies a gross area of 1,200
square feet at a commercial building in a commercial & industrial district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
This section will contain the civil litigations & winding-up
petitions filed against SC for the last 6 years (as stored in our database),
and the mortgage/charge filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil litigation/winding-up petitions : None in our
database.
Mortgage/charge record(s) : None filed since
its incorporation date.
Choi Wing Shing Andy, director:
- Embarked upon his career to present field in his mid 20's
Other directorship : See attached
Registered residential address: Flat A, 27/F, Block 1, The Leighton
Hill, 2B Broadwood Road, HK.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Country Hope Development Ltd.
- Date of purchase & consideration : 27-9-2002 / $12,104,400
- Date of mortgage & secured amount : 27-9-2002 / ANS
- Mortgagee : Hang Seng Bank Ltd.
Credit history check : This refers to a check of our database whether the said person has been involved in any of the following records stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 3 Obtained scores : 55 (see explanatory notes
below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors
which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
Business categories :
SC is engaged in manufacturing & supply of chemicals products.
Items available include industrial adhesive & other industrial
chemicals.
Production is assigned to its affiliated factory/joint venture factory
Kwok Kwong China Factory, located at Huaide Industrial Zone, Humen, Dongguan,
Guangdong Province, PR China (workforce: 100).
A portion is sold under its own brand(s) :
Principal purchases :
Major
types of sourcing : Raw
materials
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : PR China
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Manufacturers (mainly
for shoe & bag manufacturers)
Selling
terms : COD &
credit of 30 days
Overseas--buying
countries : PR China
Selling
terms : L/C &
T/T
Jointly occupying the premises with the below mentioned affiliates.
Affiliate(s):
Company name :
Kwok Kwong Chemical Co.Ltd.
Year established : 1989
Business nature : Similar to SC
Address : Same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
Affiliate(s):
Company name :
Kwok Po Chemical Co.Ltd.
Year established : 1989
Business nature : Similar to SC
Address : Same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average ( ) Fair (
) Poor (X) Not yet
determined
The appraisal serves as a reference to reveal SC's payments habits and ability
to pay. It is based on the 3 weighed
factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment records
and our debt collection record concerning SC.
Trade payment
experience : SC did not provide any name of
trade/service suppliers and we have no other
sources to conduct
the enquiry at present.
Delinquent
payment record : None in our database.
Debt
collection record : No overdue
amount owed by SC was placed to us for collection within the last 6 years.
Banking relations are maintained principally with: Bank of China (HK)
Ltd.
During our report
preparation, the principals could not be contacted while the staff members hesitated
to release financial information without the principals' consent.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 9-1-2006 was nil.
SC is still in early stage of development with a comparatively limited
track record in its performance. Credit
should be confined to small amount at present.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
APPENDIX
SUPPLEMENTARY INFORMATION:
Attached document (total no. of pages : 1)
1. Choi
Wing Shing Andy's directorship
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%)