MIRA
INFORM REPORT
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Report Date : |
29.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHING BO
DEVELOPMENT & TRADING CO. |
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Registered Office : |
Flat 1104, 11/F,
Waysor Commercial Building, 28 Connaught Road West |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.04.1996 |
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Com. Reg. No.: |
19850155 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in
trading & retail of clothing (mainly for ladies) |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
CHING BO DEVELOPMENT & TRADING CO.
FLAT 1104, 11/F, WAYSOR COMMERCIAL BUILDING,
28 CONNAUGHT ROAD WEST, HONG KONG.
TEL :
852 28037928
FAX :
NOT REGISTERED
EXECUTIVE SUMMARY
INCORPORATION DATE : 20-4-1996
REGISTRATION NO. : 19850155
REGISTERED LEGAL
FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE :
LAM FU KIN (SOLE PROPRIETOR)
STAFF STRENGTH : 1.
AUTHORIZED CAPITAL : [IN
HK, UNLIMITED COMPANIES ARE NOT REQUIRED TO FILE ITS
CAPITAL PARTICULARS TO BR OFFICE (THE INLAND
REVENUE)]
PAID-UP CAPITAL : NOT APPLICABLE
BUSINESS LINE : TRADING & RETAIL
OF CLOTHING
TURNOVER : N/A (AS OF DEC.
31, 2004)
EQUITIES : N/A (AS OF
DEC. 31, 2004)
PAYMENT : AVERAGE
RECOMM. CREDIT
RANGE : MODERATE AMOUNT
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION
: STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : HKD 7.80875 = USD1
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
Your given name
(Ching BO Deve Trading Co.) is not on the Companies list in Business
Registration Office in Hong Kong.
Based on your given
address we believe that your search target is Ching Bo Development &
Trading Co.
SC was established
under Business Registration number 19850155 on 20-4-1996 with present status as
sole proprietorship.
Currently obtained
BR copy indicate the particulars of SC's principal(s) are as follows:
Name(s) of principal(s) & ID/Passport number(s) Registered
address
- Lam Fu Kin / G292665(1) Flat
A, 8/F, Ka On Building,
8-14
Connaught Road West, HK.
- Pang Siu Wan / D611017(8) --
ditto --
No material change
or amendment regarding SC has been traced & noted since its inception.
SC also operates a
retail shop under trade name `Wendy Fashion' in Shop G2, G/F, Yardley Commercial
Building, 3 Connaught Road West, HK. with commencement date 15-6-2005.
Total number of employees : 1.
Location : Maintaining its office at the heading business
address which occupies a gross area of 800 square feet at a commercial building
in a commercial & residential district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
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 filed by
SC for the last 2 years. In Hong Kong,
creation of such mortgages/charges by an unlimited co is not required to be
registered in the public records.
Civil litigation/winding-up petitions: None in our database.
Mortgage/charge record(s): In HK, unlimited companies
are not required to file its charge particulars for public inspection.
Lam Fu Kin, sole
proprietor:
- In his late 40's
& married
- He has 10 years
of experience in present field
Currently active in
SC's day-to-day operations & is responsible for its management.
Registered
residential address: Flat A, 8/F, Ka On Building, 8-14 Connaught Road West, HK.
Property ownership:
Current land search indicates the said premises ownership as follows:
- Owner(s) : Lam Fu
Kin
- Date of purchase
& consideration : NA
- Date of mortgage
& secured amount : 23-6-2000 / ANS
- Mortgagee : China
Construction Bank (Asia) Corporation Ltd.
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 : 59 (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.
Business
categories :
SC is engaged in
trading & retail of clothing (mainly for ladies).
Items available
include shirts, skirts, brousers, coats & jackets.
Principal
purchases :
Major types of sourcing : Merchandise
Local--type of suppliers : Manufacturers
Buying terms : COD & credit of
30 days
Overseas--supplying countries : PR China
Buying terms : T/T
Principal market
:
Local--type of customers : Retails & walk-in customers
Selling terms : COD & credit of 30
days
Overseas--buying countries : Nil
Selling terms : Nil
SC is not known to have any subsidiary at present.
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 : A
trade enquiry currently conducted with SC's supplier(s) reveal the following:
First Second
Type of supplies : Merchandise
Time known : 1 year
Selling terms : Net 30-45 days
Total purchases (last 6 months) : $315,000
Present balance : $78,000
Payment record : 3
Payment record keys : 1 = Prompt : Payment made before the credit period
expires
2
= As agreed terms : Payment made upon due
date
3
= Slightly slow but acceptable : Payment
made 5 to 20 days beyond agreed terms
4
= Slow : Payment made 16 to 45 days beyond
agreed terms
5
= Poor : Payment made over 45 days beyond
agreed terms
6 = Payment slowing down : Payment formerly prompt but slowing down in
recent months
7 = No comment : Account is newly opened & record is not yet
established
Note : In some instances, payment beyond terms can
be the result of disputes over merchandise, lost invoices, disputed accounts
& etc.
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.
Banking relations
are maintained principally with: HSBC.
Upon a current contact, Lam Fu Kin, SC's sole
proprietor, 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.
SC is considered small-sized in its line locally with limited potential
for further business growth. In view of
its long business history and comparatively low overhead, its standing for
normal dealings appear acceptable.
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%)