MIRA
INFORM REPORT
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Report Date : |
26.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
L & LEUNG LEATHERWARE LTD |
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Registered Office : |
6FL Bonson Industrial Bldg, 364-366 Sha Tsui Rd Tsuen Wan
New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
February 20, 1987 |
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Com. Reg. No.: |
183336 |
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Legal Form : |
Private |
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Line of Business : |
Trading of ladies' handbags, backpacks, leather products, briefcases and
women's, children's and infants' clothing and accessories. Sales and distribution to local and export markets. |
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 USD 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
L & LEUNG LEATHERWARE LTD
6FL BONSON INDUSTRIAL BLDG
364-366 SHA TSUI RD TSUEN WAN NEW TERRITORIES, HONG KONG.
TEL: 852-24088235 FAX: 852-24086185
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 20, 1987
REGISTRATION NO. :
183336
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
1,000
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD
200,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.77479 = US$1
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 : 183336
Date issued : 20
February, 1987
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 10795261-000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Company Name*
=============
Incorporated as : ON RISING ENTERPRISE (CHINA) LTD
Date of incorporation : 20
February, 1987
Changed name to : L &
LEUNG LEATHERWARE LTD
Date of change : 5
February, 1999
*Capital Details*
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Share value : HKD
100.00/-each
Authorized capital : HKD 10,000.00
Issued capital : HKD
10,000.00 divided into 100 ordinary shares, fully paid
*Office & Facilities*
===============
Other tel no : 24073369
*Registrar*
========
- FERNHILL 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*
=================
Only Mr. Siu-Fung Lam can sign on behalf of the company with seal affixed:
SC is not known to host website of its own at present.
E-mail: andrew@lnleung.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders :
2
Total number of ordinary shares : 100
Shareholders' Name
No. of Ordinary Shares Amount
of Shares (HKD) % of Shares
-------------------------- ------------------------------ --------------------------------- ----------------
Mr. Siu-Fung Lam 50 5,000.00 50.00
Mr. Andrew Ping-Chiu Leung 50 5,000.00 50.00
*Directors' Details*
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(1)
Mr. Siu-Fung Lam
Founder :
Co-Founder
HKID no. :
E197987(A)
Address : Flat D 11Fl Sunpeace Court 136-142
Boundary St Kowloon Hong Kong
(2)
Mr. Andrew Ping-Chiu Leung
Founder :
Co-Founder
HKID no. :
B923592(8)
Address : Flat D
11Fl Sunpeace Court 136-142 Boundary St Kowloon Hong Kong
Email :
andrew@lnleung.com
Tel no. :
24073369
*Company Secretary*
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Mr. Siu-Fung Lam
Founder :
Co-Founder
HKID no. :
E197987(A)
Address : Flat D
11Fl Sunpeace Court 136-142 Boundary St Kowloon Hong Kong
SC’s management details are not available at present.
*Main Products & Services*
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Specializes in the following areas of work:
1. Trading of ladies' handbags, backpacks, leather products, briefcases
and women's, children's and infants' clothing and accessories.
2. Sales and distribution to local and export markets.
Products: Backpacks
Briefcases
Children &
infant clothing
Clothing
accessories
Ladies
handbags
*Payment Terms*
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Sales
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Local : Cash or credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : Cash or credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 63
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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 MODERATE amounts depending
on individual judgement experience.
As a limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
SC is considered large-sized in its line with a long history. Taking
into consideration of SC’s general performance, a credit line up to USD 200,000
appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3100 Leather
and Leather Products
Exporting 3171 Women's
handbags and purses
Exporting 5137 Female/Child
Clothing
Trading 2299 Textile
goods,
Trading 2300 Apparel/Other
Textile Products
Trading 2393 Textile
bags
Trading 3100 Leather and
Leather Products
Trading 3171 Women's
handbags and purses
Trading 3199 Leather
goods,
Trading 5137 Female/Child
Clothing
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 4202 Travel
goods, handbags, wallets, jewelry cases etc
Exporting 621050 Women's
wear
Trading 4200 Articles
of leather, saddlery & harness, travel goods, handbags, articles of gut
Trading 4202 Travel
goods, handbags, wallets, jewelry cases etc
Trading 4202923020 Backpacks,
of man-made fiber
Trading 4203 Articles
of apparel & access, leather & comp leather
Trading 6100 Articles
of apparel & clothing accessories-knitted or crocheted
Trading 6113000080 Women's
or girls' other garments of knit/croch cot w outer surface impreg, coated
etc
with resins ex rubber/plastic which obscures underlying material
Trading 6113000097 Women's/girls'
garments of knitted fabric of heading 5903,5906, or 5907 w outer
surf
impreg, coated etc wth ruber/plastic which doesn't obscure fabric
Trading 6114 Garments,
knitted or crocheted
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Clothing
accessories
Exporter Children &
infant clothing
Exporter Briefcases
Trader Clothing
accessories
Trader Backpacks
Trader Ladies
handbags
Trader Leather
products
Trader Briefcases
Trader Women's
clothing
Trader Children &
infant clothing
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to Japan
Exporting to Malaysia
Exporting to North America
Exporting to USA
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%)