MIRA
INFORM REPORT
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Report Date : |
29.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHEUNG NING CO., LTD. |
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Registered Office : |
RM 607, 6FL Yu To Sang Bldg 37 Queen's Rd Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.04.2003 |
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Com. Reg. No.: |
0846305 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading a range of Jewelry and Watches. |
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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
CHEUNG
NING CO., LTD.
RM 607, 6FL YU TO SANG BLDG
37 QUEEN'S RD CENTRAL, HONG KONG
TEL: 852-25231733 FAX: 852-25231182
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 30, 2003
REGISTRATION NO. :
0846305
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. FRANKIE FAT-KEE CHAN (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 300,771
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78301 = 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 : 0846305
Date issued : 30 April, 2003
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 33604532-000
Date issued : N/A
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Company Name*
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Incorporated as : CHEUNG FAT TRADING (CHINA) LTD
Date of incorporation : 30
April, 2003
Changed name to : CHEUNG NING CO LTD
Date of change : 17 October, 2003
*Capital Details*
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Authorized capital: HKD 2,340,000.00 divided into 2,340,000 ordinary
shares at HKD 1.00/-each, fully paid.
*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. Frankie Fat-kee Chan can sign on behalf of the company with
seal affixed.
*Registrar*
=========
TENFUL SECRETARIAL LTD
SC is not known to host website of its own at present.
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: 2,340,000
Shareholders Country
Number Amount (HKD) %
---------------------- --------------- --------------- -------------------- ------
Mr. Frankie Fat-kee Chan Hong Kong 1,193,400.00 1,193,400.00
51.00
Mr. Lanning Wang China 1,146,600.00 1,146,600.00 49.00
*Company Secretary*
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TENFUL SECRETARIAL LTD
Address : Rm 2305-8, 23Fl
Hang Seng North Point Bldg 341 King's Rd Hong Kong
CR number : 141328
Management: Mr. Lanning Wang, President
Name Nationality
Job Description
Mr. Lanning Wang Chinese President
*Main Products & Services*
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Specializes in trading a range of jewelry and watches.
Products: Jewelry
Watches
*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.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
SC is not known to have any subsidiary at
present.
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 short history.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3873 Watches,
clocks, clockwork operated devices, and parts,
Trading 3911 Jewelry, of
precious metal
Trading 3961 Jewelry of
materials other than solid gold, platinum & silver
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7113205000 Jewelry
of base metal clad with precious metal
Trading 7116201000 Jewelry
of precious or semiprecious stones
Trading 9100 Clocks
& watches & parts thereof
Trading 9101 Watches,
wrist, pocket etc, prec metal or clad case
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%)