MIRA
INFORM REPORT
|
Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HONG KONG WEI HUA FOOTWEAR CO LTD |
|
|
|
|
Registered Office : |
Unit 1109, 11FL Kwai Cheong Centre 40-52 Kwai
Cheong Rd Kwai Chung New Territories |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
17.09.1991 |
|
|
|
|
Com. Reg. No.: |
0325888 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importing and local purchasing of footwear. Sales and Distribution of purchased products to local and overseas
markets. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 50,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
HONG
KONG WEI HUA FOOTWEAR CO LTD
UNIT 1109, 11FL KWAI CHEONG CENTRE 40-52
KWAI CHEONG RD
KWAI CHUNG NEW TERRITORIES, HONG KONG
TEL: 852-24871145 FAX: 852-22546262
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 17, 1991
REGISTRATION NO. :
0325888
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. E. LI WU (DIRECTOR)
STAFF STRENGTH :
15
CAPITAL :
US$ 600,000
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 7.79845 = 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
OTHER LICENSE
===============
License Number : 14899782-000
Issuing Authority : Business Registration Office - Inland Revenue Dept
*Company Name*
==============
Incorporated as :
HALETON LTD
Date of incorporation : 17 September, 1991
Changed name to : HONG
KONG WEI HUA FOOTWEAR CO LTD
Date of changed : 28
November, 1991
Also known as HONG KONG WEI HUA FOOTWEAR CO.
*Capital Details*
=============
Authorized capital : USD 600,000.00 divided into 600,000 ordinary shares
at USD 1.00/-each, fully paid.
*Office & Facilities*
================
Other fax no : 24874633
Previous Contact Details
---------------------------------
Address : 17Fl
Gold King Industrial Bldg Kwai Chung New Territories
*Approved Signatures*
===================
Only Mr. E. Li Wu can sign on behalf of the company with seal affixed.
*Registrar*
=========
Mr. E. Li Wu
Address : Unit 1109, 11Fl Kwai Cheong Centre 40-52 Kwai Cheong Rd Kwai
Chung New Territories
SC is not known to host website of its own at present.
E-mail: elaine@kck.com
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders: 2
Total number of shares: 600,000
Shareholders Country Number Amount (USD) %
HO HSING INT'L CO LTD Virgin Islands (British) 599,999.00
599,999.00 100.00
Mr. Wan-fu Linag Taiwan 1.00 1.00 0.00
*COMPANY DIRECTORS*
=======================
1
Name :
Mr. E. Li Wu
Nationality :
Hong Kong
ID/Passport No. :
G356912(7)
Registered Address
: Unit 1109, 11Fl Kwai Cheong
Centre 40-52 Kwai Cheong Rd, Kwai Chung, New
Territories
Country of Residence : Hong
Kong
2
Name :
Mr. Luan Liang Chen
Nationality :
Taiwan
ID/Passport No. :
132980378
Registered Address : 9, Lane
70, Section 3 Shuang Shih Rd, Panchiao City, Taipei Hsien, 220
Country of Residence : Taiwan
3
Name :
Mr. Wan-fu Linag
Nationality :
Taiwan
Registered Address : 2Fl, 9,
Lane 70, Section 3 Shuang Shih Rd, Panchiao City, Taipei Hsien, 220
Country of Residence : Taiwan
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Importing and local purchasing a wide range of footwear.
2. Sales and distribution of purchased products to local and overseas
markets.
Products: Footwear
*Payment Terms*
==============
Sales
-------
Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
=======================
Part of the annual turnover is attributed to local sales.
*Export Markets*
==============
Part of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES :
54
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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 development history of
17 years. The above credit amount appears to be beyond SC’s capacities, while a
credit line up to USD 50,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 5139 Footwear
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 6405 Footwear
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Trading Type
Asia / Pacific Exporting,Importing
USA Exporting
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.30 |
|
UK Pound |
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.66.42 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)