MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
WONG SAM HING AGRICULTURAL CO,. LTD. |
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Registered Office : |
G/F, 53 Fau Tsoi St., Yuen Long, N.T., |
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Country : |
Hong Kong |
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Date of Incorporation : |
7.12.2001 |
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Com. Reg. No.: |
778707 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Garden Tools. |
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 : |
No Complaints |
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Litigation : |
Exists |
name & address
WONG
SAM HING AGRICULTURAL CO,. LTD.
G/F, 53 FAU TSOI ST., YUEN LONG, N.T., HONG
KONG
TEL: 852
24781668 FAX: 852 24788887
EXECUTIVE SUMMARY
INCORPORATION DATE :
7-12-2001
REGISTRATION NO. :
778707
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. WONG KWOK HING (DIRECTOR)
STAFF STRENGTH :
14
AUTHORIZED
CAPITAL : HK $500,000 =
500,000 SHARES @ HK $1.-
PAID-UP
CAPITAL : HK
$500,000
BUSINESS LINE :
TRADING OF GARDEN TOOLS
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79524 = 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.
778707 on 7-12-2001.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 7-12-2007) Number
of shares held
- Wong Kwok Hing 125,000
- Wong Kwok Shing 125,000
- Wong Kwok Man 125,000
- Wong Kwok Keung 125,000
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500,000
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Director(s) (as at 7-12-2007)
- Wong Kam Shing / C036531(7)
- Wong Kwok Hing / D645396(2)
- Wong Kwok Keung / C250412(8)
- Wong Kwok Man / E307675(3)
- Wong Kwok Shing / D645395(4)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Total number of employees: 14.
Location: Maintaining
its shop at the heading business address which occupies a gross area of 1,600
square feet at a residential building in a shopping & residential district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
The premise is rented.
Jointly occupying the premises with the below mentioned affiliate.
Wong Kam Shing, director:
- In his late 60's
- He has over 30 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
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
Wong Kwok Hing, director:
- In his mid 50's
- He has over 35 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
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:
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
Civil
litigations : ( )
see below (X) see per attached
We could not verify whether the defendants of the attached writ records
and SC's director are one and the same person although their name spellings are
identical. In HK, the identity card no.
of defendant(s) (individuals) in civil litigations is not disclosed for public
search.
Ownership background appraisal:
Rating : 2 Obtained scores : 64 (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, Ms. Chan, SC's administrator, 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 7-12-2007 was nil.
Banking relations are maintained principally with: Chong Hing Bank 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: None in our database.
Mortgage/charge record(s): None filed since its incorporation date.
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 trading of garden tools.
Items available include plastic sprayers, chemicals (insecticide),
fertilizer & soil.
Brand(s) & product(s) Producing
countries Distributing
area(s)
- "Basf" / fertilizer USA HK
& Macau
- "Nutrismart" / fertilizer Australia -- ditto --
Principal purchases:
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Importers &
distributors
Buying
terms : COD
& credit of 60 days
Overseas--supplying
countries : USA, Europe & Taiwan
Buying
terms : Open
account of 60 days
Principal market:
Local--type
of customers : Walk-in customers
Selling
terms : COD
Overseas--buying
countries : Nil
Selling
terms : Nil
Affiliate(s):
Company name :
Wong Sam Hing Co. Ltd.
Year established : 1974
Business nature : Similar to SC
Address : Same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements.
Credit in the range of small amount can be considered.
-- 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.
Attachment
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- Civil litigations check of Wong Kwok Hing (2 pages)
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%)