MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
LUEN SHING COMPANY |
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Registered Office : |
Flat 7, 3 Floor, Lucida Industrial Bldg, 43-47 Wang Lang St, Tsuen Wan
New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.11.1992 |
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Com. Reg. No.: |
16242230 - 000 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Trading of Dyestuff, Auxiliary and Chemical Products for Fur and Leather
Industries |
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 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
LUEN SHING CO
FLAT 7, 3FL LUCIDA INDUSTRIAL BLDG, 43-47 WANG LANG ST, TSUEN WAN NEW
TERRITORIES,
HONG KONG.
TEL: 852- 24082023
FAX: 852-24082034
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 20, 1992
REGISTRATION NO. :
16242230 - 000
LEGAL FORM :
SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. HIU-CHING TSUI (CHAIRMAN)
STAFF STRENGTH :
5
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 :
UP TO USD 5,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79761 = US$1
*Company Registration*
==================
License Number: 16242230 - 000
Date of Registration: 20 November, 1992
Issuing Authority: Business Registration Office - Inland Revenue Dept
(BRO)
Legal Form: Sole-proprietorship
Employees : 5
Primary Business Activity : Trader
Key Industry : Chemicals
*Approved Signature*
==================
Only Mr. Hiu-ching Tsui 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.
Based on corporate filing regulations for this type of entity in Hong Kong,
there is either, no requirement for Shareholders or no requirement for public
disclosure of Shareholders.
Chairman : Mr. Hiu-ching Tsui
Nationality : Hong Kong
*Main Products & Services*
======================
Specializes in trading of dyestuff, auxiliary and chemical products for
fur and leather industries.
Products:
Auxiliary products
Chemical products
Dyestuff
Fur auxiliary products
Fur 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.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES : 48
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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 sole proprietorship 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 development history of
16 years. A credit line up to USD 5,000 appears to be within SC’s capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2800
Chemicals and Allied Products
Trading 2816
Inorganic pigments
Trading 2899
Chemical preparations,
Trading 5169
Chemicals/Allied Prdts, NEC
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3204
Syn org coloring matter
& prep; syn org brit agent
Trading 3204192550
Solvent dyes & preparations
based thereon
Trading 3800
Miscellaneous chemical
products
Trading 3823905050
Chemical products and preparations
of the chemical or allied industries
DETAILED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Product/Service
Description
Trader Leather, dyestuffs
Trader Fur chemicals
Trader Fur dyestuff
Trader Fur auxiliary products
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)