MIRA
INFORM REPORT
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Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
GLORY POINT LTD |
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Registered Office : |
RM 1533-34, 15FL Star House 3 Salisbury Rd Tsimshatsu |
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Country : |
Hong Kong |
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Date of Incorporation : |
26.10.1984 |
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Com. Reg. No.: |
0142976 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading Textile Machinery |
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 : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
GLORY
POINT LTD
RM 1533-34, 15FL STAR HOUSE
3 SALISBURY RD TSIMSHATSUI, HONG KONG.
TEL: 852-27814323 FAX: 852-23593779
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 26, 1984
REGISTRATION NO. :
0142976
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. MILINDA CHONG (REPRESENTATIVE)
STAFF STRENGTH :
10
CAPITAL :
US$ 256,739
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79730 = 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*
==================
(1)
License number : 0142976
Date issued : 26 October, 1984
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 09333890-001
Date issued : N/A
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Office & Facilities*
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Comment : Premises is shared
with HOP YING INT'L LEATHER CO LTD.
*Capital Details*
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Share value : HKD 1.00/-each
Authorized capital : HKD
2,000,000.00
Paid-up capital : HKD 1,000,000.00
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
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Only Mr. Weng-hei Au can sign on behalf of the company with seal
affixed.
SC is not known to host website of its own at present.
E-mail: glory-point@hotmail.com
For the past two years there is no record of litigation.
*Major Shareholders*
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No list of shareholders is available in the local registry.
*Company Secretary*
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Name :
Mr. Kam-yan Leung
Nationality :
China
ID/Passport No. :
D265903(5)
Registered Address : Rm
1533-34, 15Fl Star House 3 Salisbury Rd
Country of Residence : Hong
Kong
Management: Ms. Milinda Chong, Representative
Name Nationality
Job Description
Ms. Milinda Chong Hong Kong
Representative
*Main Products & Services*
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Specializes in trading textile machinery.
Products: Textile machinery
*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.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : HOP YING INT'L LEATHER
CO LTD
Address :
Unit 1533-34, 15Fl Star House 3 Salisbury Rd Tsimshatsui Kowloon Hong Kong
Country :
Hong Kong
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Leather Goods, Tanned & Imitation
PAYMENT RATING : 3 OBTAINED SCORES :
52
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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 MODERATE 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: HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch: Central, Hong Kong
Branch Address: 9Fl HSBC Main Bldg 1 Queen's Rd Central Hong Kong (Head
Office)
SWIFT Code: HSBCHKHH
Credit Opinion: USD 500,000.00
SC is considered small-sized in its line with a long history. A credit line at the above amount appears beyond SC’s
capacities, while a credit line up to USD 100,000 is recommended.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3552 Textile
machines, and parts and attachments,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 8448 Auxiliary
machinery for use with textile machines
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%)