MIRA
INFORM REPORT
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Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
RUDDER INDUSTRIAL CO LTD |
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Registered Office : |
Shop 128 Ground Fl Man Po Bldg, 2 Tsing Hoi Circuit Tuen Mun New
Territories,. |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.02.1998 |
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Com. Reg. No.: |
0636539 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture of hammer, screwdriver, hair cutter, luggage, suitcase,
painting, water effect and other related items. |
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 |
COMPANY NAME &
ADDRESS
RUDDER INDUSTRIAL CO LTD
SHOP 128 GROUND FL MAN PO BLDG, 2 TSING HOI CIRCUIT TUEN MUN NEW
TERRITORIES,
HONG KONG.
TEL: 852-23762679
FAX: 852-23762197
EXECUTIVE SUMMARY
INCORPORATION DATE :
18 FEBRUARY, 1998
REGISTRATION NO. :
0636539
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. DEVIS LEUNG (REPRESENTATIVE)
STAFF STRENGTH :
20
CAPITAL :
US$ 1,284
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE :
UP TO USD 10,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
FAIR
EXCHANGE RATE :
HKD 7.80099 = 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 Name*
=============
Incorporated as : RUBBER INDUSTRIAL CO LTD
Date of incorporation : 18
February, 1998
Changed name to : RUDDER INDUSTRIAL CO LTD
Date of change : 9 March, 1998
*Company Registration*
==================
License number : 0636539
Date issued : 18 February, 1998
Issuing authority : Companies Registry
Type of license : Corporate
License number : 21457620-000
Date issued : N/A
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Office & Facilities*
===============
Other tel no. : 23175863
*Capital Details*
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Authorized capital : HKD 10,000.00 divided into 10,000 ordinary shares
at HKD 1.00/-each, fully paid
*Approved Signatures*
=================
The following directors can sign on behalf of the company with seal
affixed :
- Yiu-kwan Leung
- Hong Wu
*Registrar*
=========
A & M MANAGEMENT CONSULTANTS LTD
www.rudder.com.hk SC’s website
is unable to be landed at present for the technical reason.
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SUNSHINE
HEIGHTS LTD
Case Issue : A petition to the court claiming overdue payment on rent
amounting to HKD 20,136.00 (filed under case no. DCDT2681/2000).
Court : District Court, Hong Kong
Date Commenced : 17 April, 2000
Status : Not stated
Litigation ( 2 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SUNSHINE
HEIGHTS LTD
Case Issue : A petition to the court claiming overdue payment on rent
amounting to HKD 20,136.00 (filed under case no. DCDT4494/2000).
Court : District Court, Hong Kong
Date Commenced : 21 June, 2000
Status : Not stated
Litigation ( 3 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SUNSHINE
HEIGHTS LTD
Case Issue : A petition to the court claiming overdue payment on rent
amounting to HKD 20,136.00 (filed under case no. DCDT5805/2000).
Court : District Court, Hong Kong
Date Commenced : 15 August, 2000
Status : Not stated
Litigation ( 4 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SUNSHINE
HEIGHTS LTD
Case Issue : A petition to the court claiming overdue payment on rent
amounting to HKD 20,136.00 (filed under case no. DCDT517/2001).
Court : District Court, Hong Kong
Date Commenced : 29 January, 2001
Status : Not stated
*Major Shareholders*
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Total number of shareholders
: 2
Total number of ordinary shares : 10,000
Shareholders' Name No. of Ordinary Shares Amount of Shares (HKD) % of Shares
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----------------------------- --------------------------------- -----------------
Hong Wu 5,000 5,000.00 50.00
Yiu-keung Leung 5,000 5,000.00 50.00
Management: Mr. Devis Leung,
Representative
Mr. Eddie Leung, Representative
Name Nationality
Job Description
Mr. Devis Leung Hong
Kong Representative
Mr. Eddie Leung Hong
Kong Representative
*Main Products & Services*
======================
Specializes in the manufacture of hammer, screwdriver, hair cutter,
luggage, suitcase, painting, water effect and other related items.
Products: Hair curlers
Hair cutter
Hammers
Luggages
Paintings
*Payment Terms*
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Sales
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Local : Cash or Credit
Purchases
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Local : Cash or Credit
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : RUDDER INDUSTRIAL CO LTD - KOWLOON
Branch Address : Rm 1002-3 Winfield Commercial Bldg 6-8 Prat Ave
Tsimshatsui, Kowloon,
PAYMENT RATING : 4 OBTAINED SCORES : 47
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Rating Key |
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 private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank Name : BANK OF CHINA (HONG KONG) LTD
Branch : Tsimshatsui, Kowloon
Branch Address : 60 Canton Rd
SWIFT Code : BKCHHKHH
SC is considered small-sized in its line with a 10 years development
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
Manufacturing 1721 Painting & Paper Hanging
Manufacturing 3161 Luggage
Manufacturing 3172 Personal goods, of leather, except handbags
and purses
Manufacturing 3421 Cutlery
Manufacturing 3423 Hand and edge tools, except machine tools
and hand saws
Manufacturing 3429 Hardware,
Manufacturing 3544 Special dies, tools, jigs, and fixtures
Manufacturing 3546 Power driven hand tools, and parts,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 4202 Travel goods, handbags, wallets,
jewelry cases etc
Manufacturing 4202128040
Attached cases, brief cases, school
satchels occupational luggage cases and similar containers,
Manufacturing 4202190000
Trunks, suitcases, vanity cases
& similar containers, etc, outer surface other than leather, plastics or
textile material
Manufacturing 4602102100
Luggage, handbags and flat goods, of
bamboo, whether or not lined
Manufacturing 8203 Files, rasps, pliers, metal cut
shears etc, base metal parts
Manufacturing 8205 Hand tools; blow torches etc;
anvils etc
Manufacturing 8205200000
Hammers and sledge hammers and parts
thereof, of base metal
Manufacturing 8205400000
Screwdrivers and parts thereof, base
metal
Manufacturing 8516320020
Electric hair curlers
Manufacturing 9615907000
Curling pins, curling grips,
hair-curlers & the like (other than those of heading 8516) and parts
thereof
DETAILED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Product/Service
Description
Manufacturer Hair curlers
Manufacturer Luggages
Manufacturer Suitcases
Manufacturer Paintings
Manufacturer Water
effect products
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%)