MIRA
INFORM REPORT
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Report Date : |
09.10.2007 |
IDENTIFICATION DETAILS
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Name : |
NEW WING SHOES FACTORY CO LTD |
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Registered Office : |
9FL Bonson Industrial Bldg |
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Country : |
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Date of Incorporation : |
March 13, 1981 |
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Com. Reg. No.: |
94814 |
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Legal Form : |
Private |
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Line of Business : |
Importing and local purchasing of wide range of footwear. Local and international trading of purchased 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. |
Small |
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Maximum Credit Limit : |
Up To USD 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name &
address
NEW WING SHOES FACTORY CO LTD
9FL BONSON INDUSTRIAL BLDG
TSUEN WAN NEW TERRITORIES
TEL : 852-24073517
FAX : 852-24076354
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 13, 1981
REGISTRATION NO. :
94814
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. FRANK YAT-CHEONG LEUNG (CEO)
STAFF STRENGTH :
15
CAPITAL :
US$ 38,511
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.75778 = US$1 AS OF
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
HKD –
*Company Registration*
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(1)
License number : 94814
Date issued : 13 March,
1981
Issuing authority : Companies
Registry
Legal form : Private
Company Having a Share Capital
Type of license : Corporate
(2)
License number : 07906996-000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Registrar*
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Tina Ng
Tel no : 24073517
Fax no : 24076354
*Office & Facilities*
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Other fax no : 24095626
*Capital Details*
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Authorized capital : HKD 300,000.00 divided into 30,000 ordinary shares
at HKD 10.00/-each, fully paid
*Reputation*
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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. Ching-kum Lee can sign on behalf of the company with seal
affixed.
SC is not known to host website of its own at present.
E-mail: nwinfo@newwing.com.hk
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 : 30,000
Shareholders' Name No.
of Ordinary Shares Amount of Shares
(HKD) % of Shares
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Mr. Ching-kum Lee 15,000 150,000.00 50.00
Mr. Fook-sing Leung 15,000 150,000.00 50.00
*Directors' Details*
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(1)
Mr. Ching-kum Lee
HKID number : B691105(1)
Address :
Responsibility : Handles the
overall management of the company.
(2)
Mr. Fook-sing Leung
HKID number : B691104(3)
Address :
*Company Secretary*
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Mr. Ching-kum Lee
HKID number : B691105(1)
Address :
Responsibility : Handles the
overall management of the company.
Management: Mr. Vincent Cheung,
Manager
Mr. Wilson Cheong, Manager
Mr. Frank Yat-cheong Leung, CEO
Name Nationality
Job Description Dept. / Division
Mr. Vincent Cheung
Mr. Wilson Cheong
Mr. Frank Yat-cheong Leung Hong
Kong CEO -
Mr. Keith Leung
*Key Personnel*
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Frank Yat-cheong Leung
Responsibility : Handles the
overall management of the company.
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing and local purchasing of wide range of footwear.
2. Local and international trading of purchased products.
Products: Casual shoes
Fashion shoes
Footwear
Ladies' leather
footwear
Ladies' leather
shoes
*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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Majority of the annual turnover is attributed to export.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains a factory with 500-999 employees in
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 company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a 26 years history. A credit
line up to USD 10,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3100 Leather
and Leather Products
Trading 3149 Footwear,
Trading 3199 Leather
goods,
Trading 5139 Footwear
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4205 Articles
of leather
Trading 6400 Footwear,
gaiters, & the like
Trading 6403 Footwear,
outer sole rub, plastic or lea & upper leather
Trading 6405 Footwear
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Fashion
shoes
Trader Shoes
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
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%)