MIRA
INFORM REPORT
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Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
VICTORY CONCEPT TECHNOLOGY LTD |
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Registered Office : |
RM 1, 21FL King Centre 23-29 Dundas St Mongkok Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.03.1995 |
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Com. Reg. No.: |
0508091 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading Chemicals |
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 30,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
VICTORY
CONCEPT TECHNOLOGY LTD
RM 1, 21FL KING CENTRE 23-29 DUNDAS ST
MONGKOK KOWLOON, HONG KONG.
TEL: 852-27830229 FAX: 852-27830829
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 14, 1995
REGISTRATION NO. :
0508091
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
10
CAPITAL :
US$ 1,284
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 30,000
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 : 0508091
Date issued : 14 March, 1995
Issuing authority : Companies Registry
Legal form : Private Limited Company
Type of license : Corporate license
(2)
License number : 19027495-000
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business license
*Capital Details*
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Authorized capital : HKD 10,000.00 divided into 10,000 ordinary shares
of HKD 1.00/-each, fully paid
*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. Fung-king Lee can sign on behalf of the company with seal
affixed.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: 10,000
Shareholders Country
%
-------------------------- ---------- -------
Mr. Shen-chang Huang Taiwan 70.00
Mr. Tien-chung Kao Taiwan 30.00
*Company Secretary*
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Mr. Fung-king Lee
HKID number : E432325(8)
Address : Flat 301, 3Fl
Bowring Commercial Centre 154-164 Woosung St Jordan Kowloon, Hong Kong
SC’s management details are not available at present.
*Main Products & Services*
======================
Specializes in trading chemicals.
Products: Chemicals
*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.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
50
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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 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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Note:
The company officials declined to confirm if they maintain an account in
(FIRST COMMERCIAL BANK CO LTD), hence this information can not be verified and
checked. Furthermore, the bank can't also be contacted since it is not within
the banking rules and procedure to disclose such information to public without
the consent of the subject company.
Bank Name : FIRST COMMERCIAL
BANK
Branch : Central, Hong
Kong
Branch Address : 7Fl Hong Kong Club Bldg 3A Chater Rd Central Hong Kong
(Head Office)
SWIFT Code : FCBKHKHH
Credit Opinion: USD 500,000.00
SC is considered small-sized in its line with a 13 years development
history. A credit line at the above amount appears
beyond SC’s capacities, while a credit line up to USD 30,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2800 Chemicals
and Allied Products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3800 Miscellaneous
chemical products
Trading 3823 Binders for
found molds; chemical prod etc
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%)