MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
PERFECT MARBLE CO. LTD. |
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Registered Office : |
RM 3606, 36/F, Wu Chung House, 213 Queen's Road East, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
9.10.1981 |
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Com. Reg. No.: |
103903 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Marble Fitting Construction Engineering |
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 : |
No Complaints |
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Litigation : |
Clear |
name & address
PERFECT
MARBLE CO. LTD.
RM 3606, 36/F, WU
CHUNG HOUSE,
213 QUEEN'S ROAD EAST, WANCHAI, HONG KONG.
TEL: 852
26770233 FAX: 852 26770166
EXECUTIVE SUMMARY
INCORPORATION DATE :
9-10-1981
REGISTRATION NO. :
103903
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MS. LI SAU LIN (DIRECTOR)
STAFF STRENGTH :
45 (INCLUDING WORKERS)
AUTHORIZED CAPITAL :
HK $2M = 200,000 SHARES @ HK $10.-
PAID-UP
CAPITAL : HK $2M
BUSINESS LINE
: MARBLE FITTING CONSTRUCTION ENGINEERING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78538 = USD 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
SC is a private limited company registered under incorporation file no.
103903 on 9-10-1981.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 9-10-2007) Number
of shares held
- Wide Ocean Investments Ltd. 199,999
- Ko Yu Man 1
--------
200,000
=======
Director(s) (as at 9-10-2007)
- Ko Chung Lun / P656738(3)
- Li Sau Lin / C309461(6)
- Kwong Choi Kuen / G123246(A)
- Cheung Wai Man / E843965(A)
- Ko Yu Man / P608699(7)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Total number of employees: 45 (including workers).
Location: Maintaining
its office at the heading business address which occupies a gross area of 2,500
square feet at a commercial building in a commercial district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Property ownership: Current land search indicates the ownership details
of the heading premises as follows:
- Owner(s): Best Cheer Development Ltd.
- Date of purchase / consideration: 31-7-1997 / HK $23,959,000
- Date of mortgage / secured amount: 28-7-2007 / ANS
- Mortgagee: HSBC
Jointly occupying the premises with Best Cheer Development Ltd.
SC is a subsidiary of Wide Ocean Investments Ltd. whose partial
information is as follows:
Year established : NA
Registered/business
address : P.O.Box 3321, Road Town,
Tortola, British Virgin Islands
Business line : As a holding co.
No. of employees : NA
Civil litigation & winding-up petition: None in our database
Turnover :
NA
Li Sau Lin, director:
- Born in 1963 & married
- Also currently director of Paul Y. Engineering Group Ltd.
- She joined Paul Y. in early 1992 & is in charge of its marble
& granite business
- Li graduated from the University of Ottawa, Canada, in 1986 &
holds a bachelor of Social Science degree in Economics
- She has over 15 years' experience in the marble & granite industry
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Unit 3606, 36/F, Wu Chung House, 213
Queen's Road East, Wanchai, HK.
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
Ko Chung Lun, director:
- Also director of Wide Ocean Investment Ltd. and the sole beneficial
owner of Yass Pacific Corporation
- One of the committee members of China Stone Material Industry
Association
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat A, 13/F, Blk 1, Sherwood Court, 18
Kwai Sing Lane, Happy Valley, HK.
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 : 2 Obtained scores : 68 (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.
Upon a current contact, Mr. Kwok, Accounting officer, 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.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 9-10-2007 was all monies.
Banking relations are maintained principally with:
- HSBC
- The Bank of East Asia, Ltd.
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 records 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: (
) see below (X) see attached
sheet
Mortgage/charge record(s): (X) see below ( ) see per attached
Creation date : 4-4-2007
Charger(s) :
HSBC
Chargee(s) :
SC
Secured amount : $5M
Charge particulars : Deposit
Creation date : 4-9-2007
Charger(s) :
The Bank of East Asia, Ltd.
Chargee(s) :
SC
Secured amount : $2.354M
Charge particulars : Deed of charge on cash deposit
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2001, 2002, 2003,
2004 & 2007
Year(s) in which mortgage satisfaction record(s) are filed: 2002, 2003,
2004 & 2005
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: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
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.
Business categories:
SC is engaged in marble fitting construction engineering.
Production is assigned to its affiliated factory/joint venture factory
located at Dongguan, Xiamen, Shandong, Shanghai and Shenzhen, PR China.
Shenzhen Factory
Yutian Stone (Shenzhen) Co. Ltd.
Address: Zhengkeng shuikukou, Bantian, Buji Longgang District, Shenzhen
Tel: (86) 755-28777888
Fax: (86) 755-28777015
Occupies 75,000m2 of land, with an annual production of 300,000m2 of
marble slabs
Xiamen Factory
Best Cheer (Xiamen) Stone Works Co. Ltd.
Address: West Tongding Rd, Tongan District, Xiamen
Tel: (86) 592 7222222
Fax: (86) 592 7226080
The largest granite factory in China, occupies 270,000m2, with an annual
production of 1,500,000m2 of granite slabs and 200,000m2 of tiles
Shanghai Factory
Best Cheer Stone (Shanghai) Co. Ltd.
Address: No.3299 Jiasong Road, Huaxin Qingpu, Shanghai
Tel: (86) 21 59772020
Fax: (86) 21 59771010
Occupies 77,000m2, with an annual production of 700,000 m2 of slabs.
Dongguan Factory
Dongguan Youlian Building Material Co. Ltd.
Address: Chalong Road, Industrial Area, Chashan, Dongguan
Tel: (86) 769 86649125
Fax: (86) 769 86408858
Occupies 40,000m2, has annual production of 500,000m2 for slabs.
Shandong Factory
Shangdong Rongcheng (Bestcheer) Granite Co. Ltd.
Address: Dayuejia Village West, Yaitou Town, Rongcheng, Shandong
Tel: (86) 631 7525888
Fax: (86) 631 7502386
Occupies 60,000m2, has an annual production of 50,000m2 of large blocks,
350,000m2 of granite slabs and 100,000m2 of tiles
Income is received in the form of down payment & job progress fee.
SC's sideline business deals in trading of marble & granite slabs.
SC's past job reference: Marbles fitting works in Olympic Station,
British Consulate Hong Kong, Concordia Plaza, Times Square.
Principal purchases:
Major
types of sourcing : Raw
materials & accessories
Local--type
of suppliers : Manufacturers
& wholesalers
Buying
terms : COD
& credit of 30-60 days
Overseas--supplying
countries :
Buying
terms :
Principal market:
Local--type
of customers : Wholesalers, retailers
& construction companies
Selling
terms : COD &
credit of 30-60 days
Overseas--buying
countries : PR China
Selling
terms : L/C &
T/T
SC is not known to have any subsidiary at
present.
SC is considered a well-maintained business with solid base to meet
moderate amount of credit dealings.
Partial registration information regarding SC is as follows:
Authorized capital: HK$1M divided into 1M shares @ HK$1.-
Paid-up capital: HK$1M
Shareholders (as at 11-4-2004) Number
of shares held
Wide Ocean Investments Ltd. 999,999
Ko Chung Lun 1
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1,000,000
Directors (as at 11-4-2004)
Ko Chung Lun / P656738 (3)
Ko Chung Man / P236259 (0)
Ko Yu Man / P608699 (7), Li Yi
Xiang
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
APPENDIX
SUPPLEMENTARY INFORMATION:
Attached document (total no. of pages: 1)
1. Civil
litigation records
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%)