MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
FOH
CHEONG COMPANY |
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Registered Office : |
12F1 Man Cheung Bldg 15-17 Wyndham St Central |
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Country : |
China |
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Date of Incorporation : |
16.01. 1989 |
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Com. Reg. No.: |
12477742-000 |
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Legal Form : |
Partnership |
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Line of Business : |
Import and Local Purchase of Wide Range of Chemical Products |
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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Maximum Credit Limit : |
USD 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
FOH CHEONG COMPANY
12F1 MAN CHEUNG
BLDG
15-17 WYNDHAM ST
CENTRAL HONG KONG
TEL: 852-25224559 FAX: 852-28452407
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 16, 1989
REGISTRATION NO. :
12477742-000
LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE :
MR. RAYMOND SIU-MAN LAM (CEO)
STAFF STRENGTH :
20
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 10,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.7937 = 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*
==================
License number : 12477742-000
Date issued : 16
January, 1989
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
Email: fohcheong@yahoo.com.cn
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: N/A
Total number of shares: N/A
Shareholders Country
Number Amount %
----------------- -------------- ------------ ---------- ------
Mr. Raymond Siu-man Lam Hong Kong N/A N/A 90.00
Undisclosed Shareholders N/A N/A N/A 10.00
Management: Mr. Raymond Siu-man Lam, CEO
Name Nationality
Job Description
Mr. Raymond Siu-man Lam Hong
Kong CEO
*COMPANY DIRECTORS*
=====================
1
Name :
Mr. Raymond Siu-man Lam
Nationality :
Hong Kong
ID/Passport No. :
D0387917
Registered Address : 83
Robinson Rd 11C, Hong Kong
Country of Residence : Hong
Kong
Date of Appointment : 1 Apr,
1991
2
Name :
Mr. Shein-hee Hung
Nationality :
Hong Kong
ID/Passport No. :
A265423A
Registered Address : 1Fl, 25
Blue Pool Rd
Country of Residence : Hong
Kong
Date of Appointment : 16 Jan,
1989
*Main Products & Services*
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Specializes in the following areas of work:
1. Import and local purchase of wide range of chemical products.
2. Sales and distribution of purchased products to local and export
markets.
Products: Calcium hypochlorite
Chemical products
Chromic acid
Formic acid
Phosphoric acid
*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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Approximately 10% of the annual turnover is attributed to local sales.
*Export Markets*
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Approximately 90% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name: FOH CHEONG CO
Address: Bldg 67th 207-208 Yuan Yang Tian Di Chaoyang Dist Beijing
100025 China
Tel: 010-85862355/85864180
Fax: 010-85864190
Contact person: Ms Cindy Cao
The said company is mainly engaged in liaison business for SC.
PAYMENT RATING : 4 OBTAINED SCORES :
47
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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 partnership firm there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
*BANK DETAILS*
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Bank Name: ABN AMRO BANK NV
Branch: Central, Hong Kong
Branch Address: 38Fl Cheung Kong Center 2 Queen's Rd Central Hong Kong
(Head Office)
SWIFT Code: ABNAHKHH
SC is considered small-sized in its line with a long history. Taking
into consideration of SC’s general performance, a credit line up to USD 10,000
would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2800 Chemicals
and Allied Products
Trading 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 1519110000 Stearic
acid
Trading 2610000060 Chromium
ores and concentrates 46 percent and over chromic oxide
Trading 2809200040 Polyphosphoric
acids
Trading 2828100000 Commercial
calcium hypochlorite and other calcium hypochlorites
Trading 2832301000 Sodium
thiosulfate
Trading 2835310000 Sodium
triphosphates (sodium tripolyphosphate)
Trading 2915110000 Formic
acid
Trading 3800 Miscellaneous
chemical products
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Calcium
hypochlorite
Trader Stearic acid
Trader Formic acid
Trader Chromic acid
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to USA
Importing from Asia
Importing from China
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%)