MIRA
INFORM REPORT
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Report Date : |
30.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
WALLON COTTON LTD |
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Registered Office : |
Rm 405 Eastern Commercial Center, 393-407 Hennessey Rd |
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Country : |
Hong Kong |
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Date of Incorporation : |
April 28, 1997 |
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Com. Reg. No.: |
605592 |
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Legal Form : |
Private |
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Line of Business : |
Trading wide range of cotton. |
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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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
WALLON COTTON LTD
RM 405 EASTERN COMMERCIAL CENTER
393-407 HENNESSEY RD, HONG KONG.
TEL : 852-28911165
FAX : 852-28345029
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 28, 1997
REGISTRATION NO. :
605592
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. ON-WONG WAI (REPRESENTATIVE)
STAFF STRENGTH :
5
CAPITAL :
US$ 64,185
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 10,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.75068 = 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*
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(1)
License number : 605592
Date issued : 28 April,
1997
Issuing authority : Companies
Registry
Legal form : Private
Company Having a Share Capital
Type of license : Corporate
(2)
License number : 20930320-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Capital Details*
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Registered capital: HKD 500,000.00 divided into 500,000 ordinary shares
at HKD 1.00/-each, fully paid
*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. Mei-yin Lee can sign on behalf of the company with seal affixed
www.walloncotton.com The
design is simple and the content is well organized. At present it is in Chinese
and English versions.
E-mail: wallon@walloncotton.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 : 500,000
Shareholders' Name
No. of Ordinary Shares
Amount of Shares (HKD) % of
Shares
-------------------------- ------------------------------- ---------------------------------- -----------------
Mei-yin Lee 400,001 400,001.00 80.00
Vily Ku 99,999 99,999.00 20.00
*Directors' Details*
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(1)
Mr. Mei-yin Lee
HKID number : D105275(7)
Address : 15B Ruby
Court Block 2, 55 South Bay Rd Hong Kong
(2)
Mr. Vily Ku
HKID number : K747422(9)
Address : 15B Ruby
Court Block 2, 55 South Bay Rd Hong Kong
(3)
Ateng Setiawan Lie
Indonesian Passport number : M154629
Address : 123 Kopo Bandung West Java
Indonesia
*Company Secretary*
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Mr. Mei-yin Lee
HKID number : D105275(7)
Address : 15B Ruby Court
Block 2, 55 South Bay Rd Hong Kong
Management: Mr. On-wong Wai, Representative
Name Nationality
Job Description
Mr. On-wong Wai Hong Kong
Representative
*Main Products & Services*
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Specializes in trading wide range of cotton.
Products: Cotton
*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 subsidiary in China with the following contact details:
Address : Rm 102, 10Fl Jing Yuan 1765 Hong Qiao Rd Shanghai 200336
Tel no : 21-62701545
Fax no : 21-62701546
PAYMENT RATING : 3 OBTAINED SCORES : 50
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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.
SC is considered small-sized in its line with a development history of
10 years. 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 0131 Cotton
and cottonseed
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 5200 Cotton,
inc. yarns & woven fabrics thereof
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Africa
Exporting to Asia
Exporting to Australia
Exporting to Brunei
Exporting to China
Exporting to Egypt
Exporting to India
Exporting to Indonesia
Exporting to Malaysia
Exporting to North America
Exporting to Oceania
Exporting to Pakistan
Exporting to Singapore
Exporting to South Korea
Exporting to Sri Lanka
Exporting to Taiwan
Exporting to Thailand
Exporting to Turkmenistan
Exporting to USA
Exporting to Uzbekistan
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%)