MIRA
INFORM REPORT
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Report Date : |
17.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHIN KEE DRUG CO. LTD. |
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Registered Office : |
Flat A, B, 1/F, Wah Kit Commercial Centre, 300-302 Des
Voeux Road Central |
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Country : |
Hong Kong. |
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Date of Incorporation : |
18-4-1967 |
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Com. Reg. No.: |
14149 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in trading of pharmaceutical chemicals |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME & ADDRESS
SHIN KEE DRUG CO. LTD.
FLAT
A, B, 1/F, WAH KIT COMMERCIAL CENTRE,
300-302 DES VOEUX ROAD CENTRAL, HONG KONG.
TEL:
852 25410613
FAX:
852 30100262
EXECUTIVE SUMMARY
INCORPORATION
DATE :
18-4-1967
REGISTRATION
NO. : 14149
REGISTERED
LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : KOO
SUI TIN (DIRECTOR)
STAFF
STRENGTH : 15
AUTHORIZED CAPITAL : HKD 1M = 10,000 SHARES @ HKD100.-
PAID-UP CAPITAL : HKD 1M
BUSINESS
LINE :
TRADING OF PHARMACEUTICAL CHEMICALS
TURNOVER : N/A (AS OF DEC. 31, 2005)
EQUITIES : N/A (AS OF
DEC. 31, 2005)
PAYMENT
: AVERAGE
RECOMM.
CREDIT RANGE : FAIRLY LARGE AMOUNT
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD
7.77790 = USD1 AS
OF 2006-08-25
SC is a private limited company registered under incorporation file no.
14149 on 18-4-1967.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 18-4-2006) Number
of shares held
Koo Tung Wah William 5,485
Sae Yung Hansa 4,515
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10,000
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Directors (as at 18-4-2006)
Koo Sui Tin / A739204(7)
Bin Kau Lee / A403168(A)
Koo Tung Wah William / D406314(8)
Sae Yung Hansa / XD808621(A)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
No material change or amendment regarding SC has been traced & noted
within last 2 years.
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 within
the last 2 years as per our current search.
Note : In
Hong Kong, documents of mortgages satisfaction (discharge) are not compulsorily
submitted to Companies Registry. Thus,
some of the mentioned mortgages may have been satisfied.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1989, 1994, 1997
Year(s) in which mortgage satisfaction record(s) are filed: 1997
Koo Tung Wah William, director:
- In his mid 40's, married & the son of Koo Sui Tin
- Also currently honorary director of Ningbo Oversea Communication
Association & director of Ningbo Economic Development Association
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat 2, 19/F, Block C, Beverly Hill, 6
Broadway Road, Hong Kong.
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
Sae Yung Hansa, director:
- In her late 30's & married
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Kao Tung Wah William.
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 : 2 Obtained scores : 65 (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 trading of pharmaceutical chemicals.
Items available include aspirin crystal, atenlol, calcium sulfate,
menthol oil, olive oil & zinc oxide.
Principal purchases :
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Distributors
& manufacturers
Buying
terms : COD
Overseas--supplying
countries : PR China, Japan, S. Korea
& Europe
Buying
terms : D/A
& T/T
Principal market :
Local--type
of customers : Pharmaceutical
manufacturers
Selling
terms : COD
Overseas--buying
countries : SE Asia
Selling
terms : D/A &
T/T
Total number of employees : 15.
Location: Maintaining its office
at the heading business address at a commercial building in a commercial
district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
The premises is rented.
SC is not known to have
any subsidiary at present.
Overall payment appraisal :
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) 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: HSBC.
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 18-4-2006 was HKD1,745,236.52.
SC is considered an old-established business with solid base to meet
fairly large amount of credit dealings.
NOTES:
Current land search indicates that SC owns the following premises:
- Address: Flat E, 11/F, Onda Court, La Costa, Discovery Bay, City
Lantau Island, N.T., Hong Kong.
- Owner(s): SC
- Date of purchase & consideration: 5-5-1997 / HKD3,990,000
- Date of mortgage & secured amount: 5-5-1997 / ANS
- Mortgagee: Industrial & Commercial Bank of China (Asia) Ltd.
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%)