MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
KA'S FIELD LEATHER GOODS MANUFACTURE LTD. |
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Registered Office : |
Flat A & B, 9/F, Blk 3, Golden |
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Country : |
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Date of Incorporation : |
7-1-1993 |
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Com. Reg. No.: |
397832 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing & trading of leather bags & wallets. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Up To USD100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
KA'S FIELD LEATHER GOODS MANUFACTURE LTD.
FLAT A & B, 9/F, BLK 3, GOLDEN
TEL : 852 24267304
FAX : 852 24204920 / 24949720
EXECUTIVE SUMMARY
INCORPORATION DATE :
7-1-1993
REGISTRATION NO. :
397832
REGISTERED LEGAL FORM :
PRIVATE LIMITED CO.
CHIEF EXECUTIVE : CHING KA CHEUNG (DIRECTOR)
STAFF STRENGTH :
15.
AUTHORIZED CAPITAL
: HKD $2M = 2M SHARES @ HKD $1.-
PAID-UP CAPITAL
: HKD $3.-
BUSINESS LINE :
MANUFACTURE & SUPPLY OF LEATHER BAGS & WALLETS
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.8234 = USD1 AS OF 2007-05-24
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
SC is a private limited company registered under incorporation file no.
397832 on 7-1-1993.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 7-1-2007) Number
of shares held
- Ching Ka Cheung 1
- Ching Ka Wing 1
- Ching Ka Wai 1
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3
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Directors (as at 7-1-2007)
- Ching Ka Cheung / E577356(7)
- Ching Ka Wing / C271484(A)
- Ching Ka Wai / C554137(7)
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.
Ching Ka Cheung, director:
- In his late 40's
- He has over 15 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
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
Ching Ka Wai, director:
- In his early 50's
- He has over 15 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
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 : 60 (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. Ching, SC's manager, 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.
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 7-1-2007 was NA.
Banking relations are maintained principally with:
- Bank of
- HSBC
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): (x) see below ( )
see per attached
Creation date : 8-3-2006
Charger(s) :
SC
Chargee(s) :
HSBC
Secured amount : ANS
Charge particulars : Charge Over Machinery or Equipment
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2000-2002, 2004,
2006
Year(s) in which mortgage satisfaction record(s) are filed: 2004
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.
Business categories:
SC is engaged in manufacturing & trading of leather bags &
wallets.
Production is assigned to its affiliated factory/joint venture factory
located at 2nd Ind. Zone, Guanjingtou,
Principal purchases :
Major
types of sourcing : Raw
materials & accessories
Local--type
of suppliers : Manufacturers
Buying
terms : COD
& credit of 30 days
Overseas--supplying
countries :
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries :
Selling
terms : L/C &
T/T
Total number of employees : 15.
Location : Maintaining
its office & showroom at the heading business address which occupies a
gross area of 2,500 square feet at an industrial building in an industrial district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
SC is not known to have any subsidiary at
present.
SC is considered a normally advancing
concern with steady customers and good base to meet its trade engagements. Credit in the range of moderate amount can be
considered.
NOTES:
Current land search indicates that SC owns the following premises:
- Address: Flat A, 49/F, Tower 1 & Carparking Space No. 2, 2/F, Ocean
Pointe,
- Owner(s): SC
- Date of purchase & consideration: 20-4-2001 / HKD $4,354,000
- Date of mortgage & secured amount: 20-4-2001 / ANS
- Mortgagee: Nanyang Commercial Bank 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%)