MIRA
INFORM REPORT
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Report Date : |
21.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
WING HING CO |
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Registered Office : |
Flat B, 14FL Wing Yee Commercial Bldg, 3-7
Wing Kut St Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.09.1977 |
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Com. Reg. No.: |
05289578-000 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading of Jewelry 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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name and address of the company
WING
HING CO
FLAT B, 14FL WING YEE COMMERCIAL BLDG
3-7 WING KUT ST CENTRAL, HONG KONG.
TEL: 852-28518828 FAX: 852-27869368
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 1, 1977
REGISTRATION NO. :
05289578-000
LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE :
MR. WAI-HOP NG (PARTNER)
STAFF STRENGTH :
10
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80656 = 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*
==================
License number : 05289578-000
Date issued : 1 September, 1977
Issuing authority : Business Registration Office -
Inland Revenue Dept
Legal form : Partnership
Type of license : Business
*Office & Facilities*
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Other tel no. : 27869128
*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.
SC is not known to host website of its own at present.
E-mail: inquiry@winghingco.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Partners' Name
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Mr. Wai-hop Ng
Mr. Wai-par Ng
Management: Mr. Wai-hop Ng,
Partner
Mr. Wai-par Ng, Partner
Name Nationality
Job Description
Mr. Wai-hop Ng Hong
Kong Partner
Mr. Wai-par Ng Hong Kong Partner
*Key Personnel*
============
(1)
Mr. Wai-par Ng
Founder :
Co-Founder
National ID No. : A9678517
Address : Rm 1
Block A 15Fl, 1090 King's Rd, Hong Kong City Hong Kong
(2)
Mr. Wai-hop Ng
Founder : Co-Founder
National ID No. : D3083935
Address : Rm 1
Block A 15Fl, 1090 King's Rd, Hong Kong City Hong Kong
*Main Products & Services*
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Specializes in the local trading of jewelry products.
Products: Jewelry
*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 : 4 OBTAINED SCORES :
47
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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 partnership company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a long history. Credit dealings
with SC should be confined into small amount at present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry,
of precious metal
Trading 3961 Jewelry
of materials other than solid gold, platinum & silver
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7113110000 Jewelry
and parts thereof, of silver
Trading 7113200000 Jewelry
and parts, base metal clad w precious metal
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%)