MIRA
INFORM REPORT
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Report Date : |
02.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
HOP SHING CO |
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Registered Office : |
Monterey Parkpalm Springs 30 Begonia Path Yuen Long New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.06.2004 |
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Com. Reg. No.: |
34642795 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Imports and local purchase of cotton border, sisal and bamboo matting. Sales and distribution of purchased products to local and
international market. |
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 |
name & address
HOP
SHING CO
MONTEREY PARKPALM SPRINGS
30 BEGONIA PATH YUEN LONG NEW TERRITORIES,
HONG KONG
TEL: 852-26705257 FAX: 852-26796545
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 1, 2004
REGISTRATION NO. :
34642795
LEGAL FORM :
SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. WAH-KEUNG KUNG (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 : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80431 = 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*
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License number : 34642795
Date issued : 1 June, 2004
Issuing authority : Business Registration Office -
Inland Revenue Dept
Leagl form : Sole proprietorship
Type of license : Business
SC is not known to host website of its own at present.
E-mail: hopshingcompany@netvigator.com
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.
Management: Ms. Alma Antic, Officer
Name Nationality
Job Description Dept. / Division
Ms. Alma Antic Filipino
Officer Administration
*Main Products & Services*
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Specializes in the following areas of work:
1. Imports and local purchase of cotton border, sisal and bamboo
matting.
2. Sales and distribution of purchased products to local and
international market.
Products: Bamboo matting
Cotton border
Sisal matting
*Payment Terms*
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Sales
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Local : Cash or credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash or credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Associations*
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Member of :
- Hong Kong Packaging Institute
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name :
HOP SHING CARPET CO LTD
Country :
China
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Textiles & Raw Material
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains a factory in China.
PAYMENT RATING : 4 OBTAINED SCORES :
48
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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 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 4
years. Taking into consideration of SC’s general performance, 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 2273 Carpets and
rugs
Trading 2299 Textile
goods,
Trading 3999 Manufactured
articles,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4601206000 Mats,
matting and screens of other woven or partly assembled vegetable materials
Trading 5700 Carpets
& other textile floor coverings
Trading 9600 Miscellaneous
manufactured articles
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Europe
Exporting to Poland
Importing from Asia
Importing from China
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%)