MIRA
INFORM REPORT
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Report Date : |
14.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
A-LEADER LUGGAGE MANUFACTURING CO LTD. |
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Registered Office : |
Unit 7, 13/F, Blk B, Hi-Tech Industrial Ctr, 491-501 Castle Peak Rd,
Tsuen Wan, Nt |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.3.1989 |
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Com. Reg. No.: |
246794 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and Trading of Bags and Cases. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
A-LEADER
LUGGAGE MANUFACTURING CO LTD.
UNIT 7, 13/F, BLK
B, HI-TECH INDUSTRIAL CTR,
491-501 CASTLE PEAK RD, TSUEN WAN, NT, HONG
KONG
TEL: 852
24998809 FAX: 852
24120795
EXECUTIVE SUMMARY
INCORPORATION DATE :
29-3-1989
REGISTRATION NO. :
246794
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. YUEN YIU MING (MANAGING DIRECTOR)
STAFF STRENGTH :
6
AUTHORIZED CAPITAL :
HK $0.8M = 0.8M SHARES @ HK $1.-
PAID-UP
CAPITAL :
HK $0.8M
BUSINESS LINE :
MANUFACTURING & TRADING OF BAGS & CASES
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80278 = USD1
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
SC is a private limited company registered under incorporation file no.
246794 on 29-3-1989.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 29-3-2008) Number
of shares held
- Yuen Yiu Ming 640,000
- Lo Yuk Chong 120,000
- Lai Yuen Fan
40,000
--------
800,000
========
Director(s) (as at 29-3-2008)
- Lo Yuk Chong / C534536(5)
- Yuen Yiu Ming / E703977(1)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Total number of employees: 6.
Location: Maintaining
its office & showroom at the heading business address which occupies a
gross area of 1,300 square feet at an industrial building in an industrial
district.
Condition inside the premises during our
visit: normal.
Office/factory layout: standard.
Property ownership: Current land search indicates the ownership details
of the heading premises as follows:
- Owner(s) : Data Target Ltd (SC's affiliate)
- Date of purchase / consideration: 13-12-1996 / HK $1.74M
- Date of mortgage / secured amount: Nil
- Mortgagee : Nil
Yuen Yiu Ming, managing director & co-founder:
- In his mid 50's
- Embarked upon his career to present field in his mid 20's
- Also currently directors of A-Leader Luggage (International) Ltd &
Data Target Ltd (SC's affiliates)
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Ft D, 17/F, Blk 5, Grand Pacific Views,
Palatial Coast Castle Peak Rd, Tai Nam Chung, NT, HK.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Lo Yuk Chong, director & co-founder:
- In her mid 50's
- Embarked upon her career to present field in his mid 20's
- Also currently directors of A-Leader Luggage (International) Ltd &
Data Target Ltd (SC's affiliates)
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Ft D, 7/F, Blk 5, Grand Pacific Views,
Siu Lam, Tuen Mun, NT. HK..
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Gold Idea Promotion Ltd
- Date of purchase / consideration : 3-7-2000 / HK $4,620,000
- Date of mortgage / secured amount : 24-7-2000 / ANS
- Mortgagee : Citic Ka Wah Bank Ltd
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 2 Obtained scores : 60 (see explanatory notes below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors
which carry equal weight in our analysis:
Personal financial strength, credit history & trade
reputation, business experience & track record, market connection and
management skill.
Upon a current contact, Ms Lai, SC's administrator, declined forwarding
any financial information on the ground that it is the company's policy not
releasing any data to a third party without the benefit of knowing the identity
of the inquiring party.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 29-3-2008 was NA.
Banking relations are maintained principally with:
- HSBC
- Bank of China (HK) Ltd
This section will contain the civil litigations & winding-up petitions
filed against SC for the last 6 years (as stored in our database), and the
mortgage/charge records filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil litigation/winding-up petitions: None in our database.
Mortgage/charge record(s): None filed within the last 2 years as per
our current search.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1990, 1991, 1994
Year(s) in which mortgage satisfaction record(s) are filed: 1995
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment records and our debt collection record concerning SC.
Trade payment
experience: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
Delinquent
payment record: None in our database.
Debt
collection record: No overdue amount owed by SC
was placed to us for collection within the last 6 years.
Business categories:
SC is engaged in manufacturing & trading of bags & cases.
Items available include wallets, suitcases, brief cases, hand bags, jewellery
boxes & watch cases, etc.
Production is assigned to its affiliated factory/joint venture factory
located at Dongguan, Guangdong Province, PR China.
Principal purchases :
Major
types of sourcing : raw
materials & related accessories
Local--type
of suppliers : importer &
wholesalers
Buying
terms : special
agreed terms & COD
Overseas--supplying
countries : PR China
Buying
terms : COD
& special agreed terms
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : USA, Japan, North America,
Europe & Australia
Selling
terms : special
agreed terms
Jointly occupying the premises with the below mentioned affiliates.
Affiliate(s):
Company name :
Data Target Ltd
Year established : 29-12-1989
Business nature : property holding
Address : same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
Affiliate(s):
Company name :
A-Leader Luggage (International) Ltd
Year established : 22-10-1992
Business nature : similar to SC
Address : same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
SC is considered small-sized in its line locally with acceptable base to
meet its normal dealings. Credit up to
moderate amount may be considered.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
Partial registration information regarding Data Target Ltd (SC's
affiliate) is as follows:
Date of incorporation: 29-12-1989
Authorized capital: HK $10,000 divided into 10,000 shares @ HK $1.-
Paid-up capital: HK $2
Shareholders (as at 29-12-2007) Number
of shares held
- * Yuen Yiu Ming
1
- * Lo Yuk Chong
1
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2
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Directors (as at 29-12-2007)
* Also directors
Partial registration information regarding A-Leader Luggage
(International) Ltd (SC's affiliate) is as follows:
Date of incorporation: 22-10-1992
Authorized capital: HK $10,000 divided into 10,000 shares @ HK $1.-
Paid-up capital: HK $2
Shareholders (as at 22-10-2007) Number
of shares held
- * Lo Yuk Chong
1
- * Yuen Yiu Ming
1
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2
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Directors (as at 22-10-2007)
* Also directors
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.82 |
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UK Pound |
1 |
Rs.84.89 |
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Euro |
1 |
Rs.68.07 |
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%)