MIRA
INFORM REPORT
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Report Date : |
23.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CENTURY WAY ENTERPRISE LTD |
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Registered Office : |
Unit C 13FL Seabright Plaza 9-23 Shell St
North Point |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.12. 1988 |
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Com. Reg. No.: |
0236609 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Textile Machinery and related 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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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
CENTURY
WAY ENTERPRISE LTD
UNIT C 13FL SEABRIGHT PLAZA 9-23 SHELL ST
NORTH POINT, HONG KONG
TEL: 852-21267973 FAX: 852-21267976
EXECUTIVE SUMMARY
INCORPORATION DATE : 21
DECEMBER, 1988
REGISTRATION NO. :
0236609
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SPENCER CHEUN (MANAGER)
STAFF STRENGTH :
10
CAPITAL :
US$ 128,535
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 50,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81269 = 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 : 0236609
Date issued : 21 December, 1988
Issuing authority :
Companies Registry
Type of license : Corporate
(2)
License number : 12414649-000
Date issued : N/A
Issuing authority :
Business Registration Office - Inland Revenue Dept
Type of license : Business
*Company Name*
==============
Incorporated as : CENTURY WAY DEVELOPMENT LTD
Date of incorporation : 21
December, 1988
Changed name to : CENTURY WAY ENTERPRISE LTD
Date of change : 6 December, 2000
*Capital Details*
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Authorized capital : HKD 1,000,000.00 divided into 1,000,000 ordinary
shares at HKD 1.00/-each, fully paid
*Approved Signatures*
==================
Only Mr. Lu-cheung Li can sign on behalf of the company with seal
affixed.
www.centuryway.com.hk
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: info@centuryway.com.hk
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: 1,000,000
Shareholders Country Number Amount (HKD) %
Mr. Timmy Lu-cheung Li Hong Kong 950,000.00 950,000.00 95.00
Mr. Ling Chan Hong Kong 50,000.00 50,000.00 5.00
*Directors' Details*
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Shareholders' Details
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Mr. Chan Ling
National ID number : K377892(1)
Address : Unit
A 61Fl Island Resort - Block 5, Siu Sai Wan, Hong Kong
*Company Secretary*
=================
UNITED T&S CONSULTANTS LTD
CR no. : 829300
Address : Rm 3603-4, 37Fl Shun Tak Centre - West Tower 168-200 Connaught
Rd Central Hong Kong
Management: Mr. Spencer Cheun, Manager
Name Nationality
Job Description Dept. / Division
Mr. Spencer Cheun Hong Kong Manager Sales
*Main Products & Services*
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Specializes in trading a wide range of textile machinery and related
products.
Carries the brand name LAIBAO.
Products: Circular knitting machines
Flat knitting
machines
Looms
Sock machines
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
*Associations*
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Member of :
- The Chinese Manufacturers' Association of Hong Kong
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*International Trade Activity*
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There are no of exports or imports, because the prime focus of the
firm's activity is concentrated on the local sales only.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : CENTURY
WAY MACHINERY (BEIJING) LTD
Country :
China
Relationship :
Subsidiary
Legal Form : Private company with limited
liability
Company Type :
Manufacturer
Industry :
Machinery
Company Name : CENTURY
WAY MACHINERY (XIAMEN) LTD
Address :
Ground Fl Xiangyu Free Trade Zone - Moufu Bldg Xiamen 361006 Fujian China
Country : China
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Machinery
Company Name : TRINCA
COLONEL SILVIO & FIGLIO SERGIO SNC
Address : 1
Via IV Novembre Lurate Caccivio 22075 Como (CO) Italy
Country :
Italy
Relationship : Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Machinery
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.
SC is considered small-sized in its line with a long development
history. Taking into consideration of SC’s general performance, a credit line
up to USD 50,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3552 Textile
machines, and parts and attachments,
Trading 3569 General
industrial machinery and equipment, and parts,
Trading 3599 Machinery,
except electrical, and parts,
Trading 5084 Industrial
Machinery/Equip
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 8422 Machines,
dishwash, clean etc cont & fill, pak etc
Trading 8447 Machines,
knitting, stitch-bond, lace, net etc.
Trading 8447129000 Circular
knitting machines with cylinder diameter exceeding 165 mm, other than for
knitting hosiery
Trading 8479 Machines
etc having individual functions, parts
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
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%)