MIRA
INFORM REPORT
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Report Date : |
28.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
PADWORTH CO LTD |
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Registered Office : |
Unit 1508, 15fl Ming Pao Industrial Centre - Block B 18 Ka Yip St Chai
Wan, |
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Country : |
Hong Kong |
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Date of Incorporation : |
January 16, 1987 |
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Com. Reg. No.: |
0181234 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of wood products for making furniture. |
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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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
PADWORTH CO LTD
UNIT 1508, 15FL MING PAO INDUSTRIAL CENTRE
- BLOCK B 18 KA YIP ST CHAI WAN, HONG KONG.
TEL: 852-25950738
FAX: 852-25057125
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 16, 1987
REGISTRATION NO. :
0181234
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. RAMANATHAN GOWTHAMAN (CHAIRMAN)
STAFF STRENGTH :
30
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 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78091 = 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
Business / Branch Name (DBA): PACIFIC COLOR INDUSTRIES
PACIFIC ASIA TRADING CO
FAR EAST BIKE TRADING CO
*Company Registration*
==================
(1)
License number : 0181234
Date issued : 16
January, 1987
Issuing authority : Companies
Registry
Type of license : Corporate
Legal form : Private
Limited Company
(2)
License number : 10750015-000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Office & Facilities*
===============
Other e-mail : gautamanr@yahoo.com
*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
*Charges*
========
The company has charges and mortgages amounting to HKD 13,285,646.21.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
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Only Mr. Ramanathan Gowthaman can sign on behalf of the company with
seal affixed.
SC is not known to host website of its own at present.
E-mail: padworth@netvigator.com
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. Ramanathan Gowthaman India 999,999.00 999,999.00 100.00
Mr. Vasanthi Gowthaman India 1.00 1.00 0.00
*Company Directors*
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1
Name : Mr. Ramanathan Gowthaman
Nationality : India
ID/Passport No. : K132066(1)
Registered Address : Unit 1508, 15Fl Ming Pao Industrial Centre - Block
B 18 Ka Yip St, Chai Wan, Hong Kong
Country of Residence : Hong Kong
2
Name : Mr. Vasanthi Gowthaman
Nationality : India
ID/Passport No. : K132066(1)
Registered Address : Unit 1508, 15Fl Ming Pao Industrial Centre - Block
B 18 Ka Yip St, Chai Wan, Hong Kong
Country of Residence : Hong Kong
*Main Products & Services*
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Specializes in the following areas of work:
1. Trading of wood products for
making furniture.
2. Sales and distribution to
local and international market.
Products: 100% cotton yarn
Cashew nuts
Chemical
products
Cotton twists
Edible nuts
*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)
*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.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
56
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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 MODERATE 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.
*Bank Details*
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Bank Name : BNP PARIBAS - HONG KONG BRANCH
Branch : Quarry Bay, Hong Kong
Branch Address : 20-22Fl PCCW Tower Talkoo Place 979 King's Rd
SWIFT Code : BNPAHKHH
Bank Name : BELGIAN BANK
Branch : Wanchai, Hong Kong
Branch Address : 27Fl Fortis Bank Tower 77-79 Gloucester Rd
SWIFT Code : This bank does not have a SWIFT Code
CREDIT OPINION: USD 500,000
SC is considered an old-established business in medium size. A credit
line at the above amount appears beyond SC’s capacities, while a credit line up
to USD 100,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 0179 Fruits and
tree nuts,
Trading 2261 Finish
Cotton Fabrics
Trading 2281 Yarn, spun,
of cotton, man-made fibers, and silk
Trading 2435 Hardwood
veneer and plywood
Trading 2499 Wood
products,
Trading 2800 Chemicals
and Allied Products
Trading 5031 Lumber/Plywood/Millwork
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 0801300000 Cashew
nuts, fresh or dried, whether or not shelled or peeled
Trading 3800 Miscellaneous
chemical products
Trading 4412995000 Plywood
Trading 4421 Articles
of wood
Trading 5200 Cotton,
inc. yarns & woven fabrics thereof
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Cotton
twists
Trader 100% cotton
yarn
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Africa
Exporting to Asia
Exporting to Europe
Exporting to Middle East
Exporting to North America
Exporting to Oceania
Importing from Africa
Importing from Asia
Importing from India
Importing from Nigeria
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%)