MIRA
INFORM REPORT
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Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
H.K. MANCHEONG INT’L INVESTMENT LTD. |
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Registered Office : |
Room 508, 5/F., Eastern Centre, 1065 King’s Road, Quarry
Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.06.2005 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of All kinds of Paper |
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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Maximum Credit Limit : |
35739543 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
H.K. MANCHEONG
INT’L INVESTMENT LTD.
ADDRESS
c/o Mitsa (HK) Ltd.
Room 508, 5/F., Eastern Centre, 1065 King’s Road, Quarry Bay, Hong Kong.
PHONE: 2811 8836
FAX: 2563 9398
E-MAIL: mitsahk@mitsa.com.hk
MANAGEMENT
Managing Director: Mr. Liang Hong
SUMMARY
Incorporated on: 17th June, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Paper Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
ADDRESS
Registered Office:-
c/o Dickson Secretarial Services Ltd.
Room 508, 5/F., Wing On House, 71 Des Voeux Road Central, Hong Kong.
Head Office:-
c/o Mitsa (HK) Ltd.
Room 508, 5/F., Eastern Centre, 1065 King’s Road, Quarry Bay, Hong Kong.
Business Partner:-
Mitsa (HK) Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
35739543
COMPANY FILE NUMBER
977903
MANAGEMENT
Managing Director: Mr. Liang Hong
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS
(As per registry
dated 17-06-2008)
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Name |
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No. of shares |
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LIANG Hong |
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5,605 |
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WU Yinsen |
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1,192 |
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CHEN Guangji |
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2,402 |
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MAI Guorong |
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801 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTOR
(As per registry
dated 17-06-2008)
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Name (Nationality) |
Address |
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LIANG Hong |
Shengyuan Village, Daze Xiang, Shunde, Guangdong, China. |
SECRETARY
(As per registry
dated 17-06-2008)
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Name |
Address |
Co. No. |
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Dickson Secretarial Services Ltd. |
Room 508, 5/F., Wing On House, 71 Des Voeux Road Central, Hong Kong. |
97876 |
HISTORY
The subject was incorporated on 17th June, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of paper.
Employees: Nil.
Commodities Imported: Malaysia, Europe, etc.
Markets: Hong Kong, China and other Asian countries.
Terms/Sales: As per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit & Loss: Making a small profit every year.
Condition: Business is not very active in Hong Kong.
Facilities: Adequate for current running.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, H.K. Mancheong Int’l Investment Ltd. is jointly owned by four China businessmen while the largest shareholder is Mr. Liang Hong, holding 56.05%. The other shareholders are Mr. Wu Yinsen, holding 11.92%; Mr. Chen Guangji, 24.02%; and Mr. Mai Guorong, 8.01%. All the shareholders are residing in Shude, Guangdong Province, China. Mr. Liang Hong is the only director of the subject.
The subject does not have its own operating office. It is using the operating office of Mitsa (HK) Ltd. [Mitsa] which is located at Room 508, 5/F., Eastern Centre, 1065 King’s Road, Quarry Bay, Hong Kong as its operating office. Mitsa is the business partner of the subject. It is a member of the Mitsa Group.
Mitsa Group was founded with the opening of Malaysian office in 1974. This was followed by offices in Singapore, Hong Kong, Thailand, Taiwan and the Philippines. Hong Kong office has been established since 1978, provides services to China and Macau market as well. Mitsa represents its principals all over the world and supply and extensive range of paper products and covering materials. Mitsa’s mission is to provide service to its principals and clients. Products handled are commercial paper, printing paper, industrial paper, specialty paper and covering materials. Products are imported from Southeast Asia and Europe.
Mista is the official agent of the following two brand names: “SEF” and “Eska Board”. Other brands handled are “Casas”, “Synt 3”, etc.
Mitsa Sdn. Bhd. was established in 1973. It is one of Asia’s leading paper mill representatives. It represents exclusively over 30 mills and manufacturers worldwide.
Mitsa sells the paper products to the subject. It is likely that the shareholders of the subject has set up firms in Shunde to distribute paper and paper products.
The subject has no employees in Hong Kong.
Since the subject does not have its own employees in Hong Kong, consider it good for business engagements on L/C basis.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.12 |
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UK Pound |
1 |
Rs.72.59 |
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Euro |
1 |
Rs.63.52 |
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%)