MIRA
INFORM REPORT
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Report Date : |
06.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
PERFORMANCE FIBERS (HONG KONG) LTD |
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Registered Office : |
Rm 1710 Olympia Plaza 255 King's Rd, North Point |
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Country : |
Hong Kong |
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Date of Incorporation : |
October 29, 2004 |
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Com. Reg. No.: |
0930822 |
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Legal Form : |
Private |
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Line of Business : |
Trading polyester fiber which is manufactured by its China factory. Distribution of products to local market. |
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. |
Small |
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Maximum Credit Limit : |
Up To USD 3,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
PERFORMANCE FIBERS (HONG KONG) LTD
RM 1710 OLYMPIA PLAZA 255 KING'S RD
NORTH POINT, HONG KONG.
TEL : 852-21108242
FAX : 852-21100033
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 29, 2004
REGISTRATION NO. :
0930822
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
10
CAPITAL :
US$ 128
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 3,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.76435 =
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*
===================
(1)
License number : 0930822
Date issued : 29
October, 2004
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 35051864-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Company Name*
=============
Incorporated as :
BRENTLON LTD
Date of incorporation : 29
October, 2004
Changed name to :
PERFORMANCE FIBERS (HONG KONG) LTD
Date of change : 24
November, 2004
*Capital Details*
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Authorized capital : HKD 1,000.00 divided into 1,000 ordinary shares of
HKD 1.00/-each, fully paid
*Registrar*
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SIMMONS & SIMMONS LTD
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information
*Approved Signatures*
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Only Mr. Yuk-mei Lee can sign on behalf of the company with seal
affixed.
www.performancefibers.com
The design is professional and the content is well organized. At present it is
in Chinese, English, French and German versions.
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholder
: 1
Total number of ordinary shares : 1,000
Shareholder's Name No of Ordinary Shares Amount of Shares (HKD) % of Shares
------------------------- ------------------------------ ---------------------------------- -------------
PERFORMANCE FIBERS HOLDINGS INC 1,000 1,000.00 100.00
*Directors' Details*
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(1)
Yuk-mei Lee
HKID no :
G685639(9)
Address : Rm
1814 Man Kin House Tsz Man Estate, Tsz Wan Shan, Kowloon Hong Kong
(2)
Hong-jian Sha
USA Passport No : 016419233
Address : 108
Wuxing Rd 21K, Shanghai, 200030, China
(3)
David Cho-yiu Wu
HKID no :
G109518(7)
Address : 3
Hongqiao Rd, Kaiping, Guangdong, 529300 China
*Corporate Secretary*
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SANDS SECRETARIES LTD
C. R. no : 133419
Address : 35Fl Cheung Kong
Center 2 Queen's Rd, Central, Hong Kong
SC’s management background details are not available at present.
*Main Products & Services*
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Specializes in the following areas of work
1. Trading polyester fiber which is manufactured by its China factory.
2. Distribution of products to local market.
Products: Polyester fiber
Textile
products
*Payment Terms*
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Sales
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Local : Cash or Credit
Purchases
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Import : Letter of Credit (L/C)
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Maintains a factory in China.
PAYMENT RATING : 4 OBTAINED SCORES : 47
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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 SMALL
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.
*Bank Details*
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Bank Name : STANDARD CHARTERED
BANK
Branch : Central, Hong
Kong
Swift Code : SCBLHKHH
SC is considered small-sized in its line with a short history. Taking
into consideration of SC’s fairly good background, a credit line up to USD
3,000 would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2200 Textile
Mill Products
Trading 2299 Textile
goods,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3907990050 Other
polyesters,
Trading 5911 Textile
products etc. for specific tech uses
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from China
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. |
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%)