MIRA
INFORM REPORT
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Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
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Name : |
WORLD SPRING DEVELOPMENT CO |
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Registered Office : |
15FL Xiu Ping Commercial Bldg |
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Country : |
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Date of Incorporation : |
December 1, 1989 |
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Com. Reg. No.: |
13254038-000 |
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Legal Form : |
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Line of Business : |
Trading and exporting wide range of products which include : - Food - Chemicals - Hardware - Machine tools - Agricultural products |
RATING & COMMENTS
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MIRAs 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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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
name &
address
WORLD SPRING DEVELOPMENT CO
15FL XIU PING COMMERCIAL BLDG
SHEUNG WAN
TEL : 852 28507257
FAX : 852 28507276
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 1, 1989
REGISTRATION NO. :
13254038-000
CHIEF EXECUTIVE :
MR. DONG-JIN KIM (CHAIRMAN)
STAFF STRENGTH :
30
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
BELOW AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.75535 = 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
*Office & Facilities*
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Type of building : Commercial building
Other Contact Details
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Tel no : 28507264
Email addresses : wsdevsz@21cn.com
ogre1294@hotmail.com
*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.
SC is not known to host website of its own at present.
E-mail : wsdevc@netvigator.com
For the past two years there is no record of litigation.
*Shareholders*
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Based on corporate filing regulations for this type of entity in
*COMPANY MANAGEMENT*
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Name Nationality
Job Description
Mr. Dong-jin Kim Korean General Manager
*Key Personnel*
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Dong-jin Kim
Founder : Sole Founder
HKID no : K2503972
Address : Flat E 7Fl
Responsibility : Handles the
overall management of the company.
*Main Products & Services*
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Specializes in trading and exporting wide range of products which
include :
- Food
- Chemicals
- Hardware
- Machine tools
- Agricultural products
Products : Agricultural products
Amber fish
Animal feeds
Art crafts
Bathroom fittings
*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
*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.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains the following overseas operations:
- Office and distribution network in
- Office in
Manager : Xue-jun Ni
Tel nos : 755-63764088 / 83764086
PAYMENT RATING : 5 OBTAINED SCORES : 20
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Implication |
Implications |
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1 |
Scores 85100 |
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 sole proprietorship 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 an 18 years history.
Credit should be confined to small amount at present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2000 Food
and Kindred Products
Exporting 2038 Frozen
Specialties, NEC
Exporting 2048 Prepared
feeds
Exporting 2800 Chemicals
and Allied Products
Exporting 2844 Toilet
preparations
Exporting 2875 Fertilizers,
Mixing Only
Exporting 3088 Plastics
plumbing fixtures and sanitary ware
Exporting 3429 Hardware
Exporting 3545 Machine
tool accessories, and parts
Exporting 5148 Fresh
Fruits & Vegetables
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 0301 Fish,
live
Exporting 0709 Vegetables,
fresh or chilled
Exporting 0813 Fruit
dried; mixtures of nuts or dried fruit
Exporting 2106 Food
preparations
Exporting 2106906095 Food
preparations not elsewhere specified or included, frozen
Exporting 2309 Preparations
used in animal feeding
Exporting 3100 Fertilizers
Exporting 3307 Personal
toilet etc prep, shaving, bath etc.
Exporting 3800 Miscellaneous
chemical products
Trading 0301 Fish,
live
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Exporter Food
products
Exporter Frozen
foods
Exporter Machine tools
Exporter Sesame
seed
Exporter Scads
Exporter Amber fish
Exporter Car tires
Exporter Squid liver
powder
Exporter Mackerel
Exporter Hardware
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
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 SCs 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%)