MIRA
INFORM REPORT
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Report Date : |
18.09.2007 |
IDENTIFICATION DETAILS
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Name : |
DAL MASO GROUP HONG KONG LTD. |
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Registered Office : |
41FL Bank Of |
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Country : |
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Date of Incorporation : |
December 19, 2003 |
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Com. Reg. No.: |
0876207 |
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Legal Form : |
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 : |
Unknown |
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Litigation : |
Clear |
name &
address
DAL MASO GROUP HONG KONG LTD.
41FL BANK OF
TEL : 852 21030808
FAX : 852 28101345
EXECUTIVE SUMMARY
INCORPORATION DATE : DECEMBER
19, 2003
REGISTRATION NO. :
0876207
CHIEF EXECUTIVE :
MR. CARLO DAL MASO (CHAIRMAN)
STAFF STRENGTH :
245 (ZHONGSHAN SUBSIDIARY)
CAPITAL :
US$ 129
BUSINESS LINE :
MANUFACTURING (ZHONGSHAN SUBSIDIARY)
TURNOVER : N/A (AS OF DEC. 31,
2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
NR
RECOMM.
MARKET CONDITION :
N/A
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.78230 = 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 –
*Capital Details*
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Authorized capital: HKD 1,000.00 divided into 100 shares at HKD
10.00/-each, fully paid
*Reputation*
===========
Due to the fact that the subject company:
(i) Does not maintain an
operational office in
(ii) There is no knowledge or public record of overseas business
activities
It has not been possible to ascertain the reputation of the company.
*Company Registration*
===================
(1)
License number : 0876207
Date issued : 19
December, 2003
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 34452257
Issuing authority : Business
Registration Office - Inland Revenue Department
Type of license : Business
*Company Name*
=============
Incorporated as : GOLDEN
BELLE LTD
Date of incorporation : 19
December, 2003
Changed name to : DAL MASO
GROUP HONG KONG LTD
Date of change : 21
April, 2004
http://www.dalmasogroup.cn. It
is the website of its subsidiary Dal Maso Leather (Zhongshan) Co., Ltd. The
design is professional and the content is well organized. At present it is in
English version.
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders : 2
Total number of shares :
100
Shareholders' Name No
of Shares Amount of Shares
(HKD) % of Shares
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--------------------------------- ----------------
DAL MASO GROUP SPA
80
800.00
80.00
Mr. Franco Scalzolaro 20 200.00 20.00
Shareholders' Details
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Mr. Franco Scalzolaro
Address: Via Pilotto 2
*Key Personnel*
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Mr. Carlo Dal Maso
Passport no : A240879
Address : Via Sant'
Uberto 6 Arzignano Vicenza 36071
Responsibilities : Registered as the key owner and operator of the
business.
COMPANY DIRECTORS
1
Personal Unique Identifier: MI01724597
Name: Mr. Carlo Dal Maso
Nationality:
Registered Address: Via Sant' Uberto 6, Arzignano,
2
Personal Unique Identifier: MI01724567
Name: Mr. Claudio Cumerlato
Nationality:
Registered Address: Via Chiampan 62 Lonigo,
3
Personal Unique Identifier: MI01724606
Name: Mr. Pierangelo Barchi
Nationality:
Registered Address: Via Arzignano 108,
Note: (***)
OPERATIONAL STATUS
The Subject Business Entity does NOT maintain an operational office at
the address listed above. The office located at the address above (including
telephone and fax numbers) is operated and managed by a firm specializing in
Corporate Secretarial /
*Operation Status*
===============
Although the Subject Company is a legally registered entity, it does not
maintain an operational office, nor any employees in this country, but rather
employs the services of a local firm engaged in corporate secretarial
management services to "maintain" their license on behalf of the
owners who are located overseas.
The management services usually involves registering the office address
as the same one used by the firm employed to "maintain" the license,
as well as receive any mail address to the company, forward mail to owners, attend to license renewals,
corporate levies and related issues.
Company Name: CLARSON SERVICES LTD
Address : 41Fl Bank of
Suburb : Central
City :
*Operation Information of Dal Maso Leather (Zhongshan) Co., Ltd.*
==================================================
It is mainly engaged in processing and selling leather.
Its products mainly include: leather.
It sources its materials 60% from domestic market, and 40% from the
overseas market, mainly European countries. It sells 5% of its products in domestic
market, and 95% to the overseas market, mainly
The buying terms include Check, T/T, L/C and Credit of 30-60 days. The
payment terms include T/T, L/C and Credit of 30-60 days.
SC is known to have one subsidiary in Zhongshan
DAL MASO LEATHER (ZHONGSHAN) CO., LTD.
Incorporation Date : Jan.
26, 2005
Registration No. : 003875
Registered Legal Form : Wholly
Foreign Owned
Chief Executive : Mr.
Carlo Dal Maso (Chairman)
Staff Strength : 245
Registered Capital : USD
2,100,000
Business Line :
Manufacturing
Turnover :
CNY 25,450,000 (As Of Dec. 31, 2005)
Equities : CNY 14,550,000 (As Of Dec. 31,
2005)
Business Scope: leather finishing and processing; 30% of its products to
be sold in domestic market.
Add: Building 4&5
TEL: 86 (0) 760-6180823
FAX: 86 (0) 760-3452193
PAYMENT RATING : NR
OBTAINED SCORES : No Data
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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.
*Financials*
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Under
*Financial Information of its
Zhongshan Subsidiary*
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Balance Sheet
Unit: CNY’000
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As
of Dec. 31, 2005 |
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Cash & bank |
620 |
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Advances to
suppliers |
240 |
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Accounts
receivable |
14,080 |
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Inventory |
29,500 |
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Other
receivables |
1,020 |
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Other current
assets |
0 |
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Current assets |
45,460 |
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Fixed assets net
value |
20,260 |
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Projects under
construction |
360 |
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Long term
investment |
0 |
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Other assets |
880 |
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Total assets |
66,960 |
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============= |
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Short loans |
0 |
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Accounts payable |
46,620 |
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Advances from
clients |
50 |
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Taxes payable |
-10 |
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Salaries payable |
210 |
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Other payable |
110 |
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Other current
liabilities |
540 |
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Current
liabilities |
47,520 |
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Long term
liabilities |
4,890 |
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Total
liabilities |
52,410 |
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Equities |
14,550 |
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Total
liabilities & equities |
66,960 |
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Income Statement
Unit: CNY’000
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As of Dec. 31,
2005 |
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Turnover |
25,450 |
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Cost of goods
sold |
24,790 |
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Sales expense |
190 |
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Management expense |
1,150 |
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Finance expense |
-40 |
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Profit before
tax |
-750 |
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Less: profit tax |
0 |
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Profits |
-750 |
Important Ratios
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2005 |
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*Current ratio |
0.96 |
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*Quick ratio |
0.34 |
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*Liabilities
to assets |
0.78 |
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*Net profit
margin (%) |
-2.95 |
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*Return on
total assets (%) |
-1.12 |
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*Fixed
assets/Total assets |
0.30 |
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*Inventory
/Turnover ×365 |
423days |
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*Accounts
receivable/Turnover ×365 |
202days |
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*Turnover/Total
assets |
0.38 |
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* Cost of
goods sold/Turnover |
0.97 |
SC has no operational office in
Attached:
trade references
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%)