MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAKING LUCK
INDUSTRIAL LTD. |
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Registered Office : |
Flats A, B & D, 23/F., E. Tat Factory Building, 4 Heung Yip Road,
Wong Chuk Hang |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.06.1989 |
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Com. Reg. No.: |
13599905 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Switches (electronics/audio) and Other Electronic Components |
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 : |
Regular |
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Litigation : |
Clear |
name of the company
TAKING
LUCK INDUSTRIAL LTD.
ADDRESS
c/o Toneluck
Electronics Industrial Co. Ltd.
Flats A, B & D,
23/F., E. Tat Factory Building, 4 Heung Yip Road, Wong Chuk Hang, Hong
Kong.
PHONE: 2553 6874
FAX: 2873 5541
Note:
The subject is not
located at “Flat A, 1/F., Block 7, Residence Bel-Air, Cyberport” where is a
residential building is located.
MANAGEMENT
Managing
Director: Mr. Lin Hui
SUMMARY
Incorporated on: 30th June, 1989.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Electronic Components Trader.
Employees: 3.
Main Dealing Banker: DBS Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
c/o Toneluck
Electronics Industrial Co. Ltd.
Flats A, B &
D, 23/F., E. Tat Factory Building, 4 Heung Yip Road, Wong Chuk Hang, Hong Kong.
Associated Companies:-
Toneluck
Electronics Industrial Co. Ltd., Hong Kong.
Toneluck
Industrial Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
13599905
COMPANY FILE NUMBER
256658
MANAGEMENT
Managing
Director: Mr. Lin Hui
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 30-06-2008)
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Name |
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No. of shares |
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LIN Hui |
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5,500 |
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YIU Lai Shuen |
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2,500 |
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LAM Wing |
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2,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 30-06-2008)
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Name (Nationality) |
Address |
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LIN Hui |
Flat A, 21/F., Tower 3, Residence Bel-Air,
Island South, Bel-Air Avenue, Hong Kong. |
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YIU Lai Shuen |
Flat A, 21/F., Tower 3, Residence Bel-Air,
Island South, Bel-Air Avenue, Hong Kong. |
SECRETARY
YIU Lai Shuen (As per registry dated 30-06-2008)
HISTORY
The subject was incorporated
on 30th June, 1989 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,
Exporter and Wholesaler.
Lines: All kinds
of switches (electronics/audio) and other electronic components.
Employees: 3.
Commodities
Imported: Imported from
China, Japan, Taiwan and Korea.
Markets: Hong Kong,
Taiwan, Southeast Asia and US.
Terms/Sales: L/C.
Terms/Buying: L/C
or as per contracted.
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
Mortgage or
Charge:-
Date of Security Over Deposits: 04-03-1993
Amount: To secure such facilities
Property: Deposit amount of US$77,000
under No. 11-200-0063-3
Mortgagee: Overseas Trust Bank Ltd.,
Hong Kong.
[Merged into DBS Bank (Hong Kong) Ltd.]
Profit & Loss: Making a very small profit.
Condition: Keeping in a normal manner.
Facilities: Making active use of general
banking facilities.
Payment: Met on time.
Commercial
Morality: Satisfactory.
Bankers:-
DBS Bank
(Hong Kong) Ltd., Hong Kong.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued
10,000 ordinary shares of HK$1.00 each, Taking Luck Industrial Ltd. is jointly
owned by Mr. Lin Hui, holding 55% interest; Ms. Yiu Lai Shuen, holding
25%; and Mr. Lam Wing, 20%.
At the very beginning,
the subject was jointly owned by Ms. Yiu Lai Shuen, holding 9,999 shares, and
Mr. Yao Wen Cheng, holding 1 share.
Later the subject was reshuffled and became jointly owned by Mr. Lin
Hui, holding 80% interest, while his wife Ms. Yiu Lai Shuen, holding 20%. On 7th May, 2008, a new shareholder Mr. Lam
Wing joined in and the equities were re‑allocated. Thus the present shareholding structure has
taken shape since then.
The subject shares
the office with Toneluck Electronics Industrial Co. Ltd. [Toneluck] and Chase
Luck Industrial Ltd. Both are Hong
Kong-registered firms.
The subject is a
small trader trading in electronic components specialized in push button
switches. Toneluck is engaged in
manufacturing micro-switches and precision components for control systems in
automobiles, appliances and safety critical products.
In 2000, Toneluck
signed a joint-ventured agreement with its Germany partner to set up a factory
in China for automotive parts business.
Today, Toneluck is making automotive mirror actuators (side mirrors) and
DC motors for the major automobile manufacturers in the United States, Europe
and Japan.
Set up in 1976,
Toneluck’s factory is located in Huizhou City, Guangdong Province, China
employing about 800 persons. The
factory is equipped with moulding, stamping, plating, assembly and testing
facilities. Toneluck’s warehouses are
located in Huizhou and Hong Kong.
The main customer
of Toneluck are the following main firms: TT/AB Group, General Electric,
Whirlpool, Matsushita, Tecnowind, Siemens, Pioneer, Alcatel/AT-Link, Thomson
Multimedia, Telex/EVI Audio, HMG Harmon Group, Marshall Audio, etc.
Business chiefly
handled by the couple, the subject is one of the business partners of Toneluck.
On the whole,
consider it good for moderate business engagements.
REMARKS
Court Cases: None per our.
Property
information of associate:-
Property Location:
Factory Unit A, B & D on 23/F. & Roof, E. Tat Factory Building,
4 Heung Yip Road, Hong Kong.
Owner: Toneluck Electronics Industrial Co. Ltd.
Date of
Purchase: 14-11-1986
Purchased
Price: HK$720,000
Incumbrances:-
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Date of
Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
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14-11-1986 |
- |
Overseas Trust Bank Ltd.,
Hong Kong. [Merged into DBS Bank
(Hong Kong) Ltd.] |
Mortgage to secure general banking
facilities |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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%)