MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHUN YIP PLASTICS LTD |
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Registered Office : |
Avenida da Praia Grande n' 762 Ed China Plaza 12 andar I e |
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Country : |
Macau |
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Year of Establishment : |
2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer of Plastics and 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 35,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Basic
Country: Macau
Company name: CHUN YIP PLASTICS LTD (MACAO COMMERCIAL
OFFSHORE)
Office address: Avenida da Praia Grande n' 762 Ed China
Plaza 12 andar I em Macau
Office tel: 28715570
Office e-mail: inquiry@chunyip.com
Website: www.chunyip.com
Business type: Manufacturer
Industry: Plastics & Products
Established: 2004
OWNERSHIP
Chairman: Mr Lawrence Hung-chun Yung
Nationality: Hong Kong
Capital: 100,000
Employees: 4
Corporate formation: Private
COMPANY MANAGEMENT
Director Mr Lawrence Hung-chun
Yung
Nationality: Hong Kong
Director Ms Patricia Wai-yu Yung
Nationality: Hong Kong
FINANCIAL DESCRIPTION
*Credit Risk
Assessment*
=======================
Risk Index : Medium
Credit Amount : USD 35,000
Credit Period : 30 days
*Credit Opinion*
=============
Credit of a moderate amount can proceed normally.
*Credit
Assessment*
==============
The company is considered an average sized company in its line locally. Based on its history background, established market connectivity and
trade connections, credit of a moderate amount can
proceed normally.
*Operations
Status*
==================
Investigations have included :
1) A site visit was conducted at the company's heading address which revealed that the above company's name was seen on display.
2) The company is engaged in manufacturing of disposable article.
3) The company's products are manufactured in the Group's production facilities located at Shenzhen in the PRC and named "Chun Yip
Plastics (Shenzhen) Ltd".
4) The company's products are sold to South East Asia, Europe and North America.
5) The company currently employs 4 staff in Macau.
*Capital Details*
=============
Authorized capital : MOP 100,000
Paid-up capital : MOP 100,000
*Financials*
=========
As a private limited company, no official financial statement is
required to be publicly disclosed.
Upon our current contact, the company's staff refused to forward any financial information regarding the company on the grounds that the company is a private venture whose financial information is considered sensitive private business information not subjected to public release
or release to non-business related parties.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative
information.
*Payment Terms*
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Sales
--------
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Company
Registration *
==================
Company Name in English: Chun Yip Plastics Ltd (Macao Commercial
Offshore)
Company Name in Portugues: Chun Yip Plasticas Limitada (Comercial
Offshore De Macau)
License number : 19321 (SO)
Date issued : 17 Aug, 2004
Issuing authority : Conservatoria Dos Registos Comercial E De Bens Moveis
*Change of Company
Name*
=====================
No record
*Bank*
=====
HONGKONG AND SHANGHAI BANKING CORPORATION LTD
In-depth Report
PRODUCT, TECHNOLOGY, SERVICE
DESCRIPTION
*Main Products
& Services*
=====================
Specializes in the manufacturing of disposable article.
*Detailed Product
specifications*
========================
Items available include:
Garbage
Aprons
Shopping bags
Gloves
Ice-cube bags
Sleevecovers
Shoecovers
Plastics products
ORGANIZATION STRUCTURE
*Key Personnel*
============
(1)
Lawrence Hung-chun Yung
Marital: Married
Wife: Jannie Tze-lan Cheng
Position : Director
Resident status : Chinese nationality
Responsibilities : Currently active in the company's day-to-day
operations & is responsible for its management.
Registered address: 40A Tavistock II, 10A Tregunter Path, Mid Levels,
Hong Kong.
RELATED PARTIES DESCRIPTION
*Major
Shareholders*
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Shareholder Name
No of Shares
-------------------------------------------------------------------------
Lawrence Hung-chun Yung
50,000
*Shareholders'
Details*
================
Lawrence Hung-chun Yung
Address: 40A Tavistock II, 10A Tregunter Path, Mid Levels, Hong Kong.
Patricia Wai-yu Yung
Address: 13A, 3 Repulse Bay Road, Repulse Bay, Hong Kong.
*Directors'
Details*
==============
(1)
Lawrence Hung-chun Yung
(2)
Patricia Wai-yu Yung
Marital: Single
Position : Director
Resident status : Chinese nationality
Responsibilities : Currently active in the company's day-to-day
operations & is responsible for its management.
Registered address: 13A, 3 Repulse Bay Road, Repulse Bay, Hong Kong.
LOCAL DISTRIBUTION &
WAREHOUSING
*Imports*
========
Majority of the company's products are imported from the PRC.
INTERNATIONAL TRADE ACTIVITY
DESCRIPTION
*Export Markets*
=============
Majority of the annual turnover is attributed to export to the following countries:
- South East Asia, Europe and North America.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.22 |
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%)