MIRA
INFORM REPORT
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Report Date : |
17.05.2007 |
IDENTIFICATION DETAILS
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Name : |
HUNG SUN TRADING CO. |
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Registered Office : |
Rm 901, 9/F, Free Trade Centre, 49 Tsun Yip St., Kwun
Tong, Kowloon |
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Country : |
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Date of Incorporation : |
20-10-1987 |
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Com. Reg. No.: |
11382297 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturing & trading of chemical 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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Maximum Credit Limit : |
USD 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
HUNG SUN TRADING CO.
RM 901, 9/F, FREE TRADE CENTRE,
TEL : 852 27639576
FAX : 852 27639612
EXECUTIVE SUMMARY
INCORPORATION DATE :
20-10-1987
REGISTRATION NO. :
11382297
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE : WANG CHI LEUNG
(SOLE PROPRIETOR)
STAFF STRENGTH :
4
AUTHORIZED CAPITAL : [IN
CAPITAL
PARTICULARS TO BR OFFICE (THE INLAND REVENUE)]
PAID-UP
CAPITAL : N/A
BUSINESS LINE :
MANUFACTURE & TRADING OF CHEMICAL PRODUCTS
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81844 = USD1 AS OF 2007-05-17
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
Note: The correct name of SC should be the heading one, instead of the
given name- AGAR INTERNATIONAL HUNG SUN TRADING COMPANY.
SC was established under Business Registration number 11382297 on
20-10-1987 with present status as sole proprietorship.
Currently obtained BR copy indicate the particulars of SC's principal(s)
are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered
address
- Wang Chi Leung / H384488(0) Unit
703, 7/F,
51A
Hang On St.,
Kwun
Tong,
Certain material change or amendment regarding SC within the last 4
years has been traced & noted as follows:
Change of business address : SC moved to the heading business
address from Rm 2307, 23/F, Paul Y Centre, 51 Hung To Road, Kwun Tong,
Wang Chi Leung, sole proprietor:
- In his mid 50's
- He has over 10 years of experience in present field
- Also currently director of Optimal Coatech Corporation Ltd. & vice
chairman of the board of directors of Guangdong Zhong Cheng Chemical Co. Ltd.
(SC's affiliated factory in PR China)
Currently active in SC's day-to-day operations & is responsible for
its management.
Credit history check : This refers to a check of our database whether the said person has been involved in any of the following 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 : 54 (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.
Upon a current contact, Ms. Lam, SC's administrator, declined forwarding
any financial information on the ground that it is the company's policy not
releasing any data to a third party without the benefit of knowing the identity
of the inquiring party.
Banking relations are maintained principally with:
- HSBC
- Bank of
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 records filed by SC for the last 2 years. In
Civil litigation/winding-up petitions: None in our database.
Mortgage/charge record(s): In Hong Kong, unlimited companies are not
required to file its charge particulars for public inspection.
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average
(X) 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.
Business categories:
SC is engaged in manufacturing & trading of chemical products.
Items available include:
- industrial chemicals for textile & printing industries:
~ sodium hydrosulphite, sodium
sulphite & sodium thiosulphate
- pharmaceuticals:
~ synthetic taurine & natural
vitamin E
Production is assigned to the following affiliated factory (which is the
largest sodium hydrosulphite manufacturer in
- Name: Hunan Zhongcheng
Chemicals Co. Ltd.
- Year established: 1993
- Address: 2nd Ind'l Zone, Ma
- Tel: 86-769-8822402
Achievements:
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- ISO 9000
- ISO 9001
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : PR China, SE Asia,
Selling terms : L/C & T/T
Total number of employees : 4.
Location : Maintaining
its office at the heading business address which occupies a gross area of 700
square feet at an industrial building in an industrial district.
Affiliate(s):
Company name :
Optimal Coatech Corporation Ltd.
Year established : 2000
Business nature : As a liaison office for Optimal Coatech (
Address : Same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
SC also maintains a subsidiary as follows:
- Name: Hun Sun Trading (
- Address: 1061 Broadway,
- Tel: 617-8346537
- Fax: 617-2490712
Affiliate:
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- Super Success Pharmacy Co Ltd. (a major Asian manufacturer of
synthetic Taurine, which is widely used in the food industry)
SC is
considered small-sized in its line with an acceptable base to come into credit dealings
of small amount.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in
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%)