MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
EXPRESS WELL INT'L LTD |
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Registered Office : |
RM 1705 Tai Tung Bldg 8 Fleming Rd Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.09. 2001 |
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Com. Reg. No.: |
0770493 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and local purchasing of various commodities. Trading of purchased products to local and export markets. |
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
EXPRESS
WELL INT'L LTD
RM 1705 TAI TUNG BLDG
8 FLEMING RD WANCHAI, HONG KONG.
TEL: 852-28310009 FAX: 852-25878233
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 19, 2001
REGISTRATION NO. :
0770493
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHUN-KONG LEUNG (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 321,337
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 7.80045 = 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
Registered Legal Address: Unit A 15Fl CNT Tower 338 Hennessey Rd Wanchai
Hong Kong
*Company Registration*
===================
(1)
License number : 0770493
Date issued : 19
September, 2001
Issuing authority : Companies
Registry
Legal form : Private
Limited Company
Type of license : Corporate
(2)
License number : 32410243-000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Capital Details*
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Authorized capital : HKD 2,500,000.00 divided into 2,500,000 ordinary
shares of HKD 1.00/-each, fully paid
*Approved Signatures*
===================
Only Chun-kong Leung can sign on behalf of the company with seal
affixed.
www.expresswell.com The design
is professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: expresswell@hotmail.com
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders: 5
Total number of shares: 2,500,000
Shareholders Country
Number Amount (HKD) %
Mr. Wei Wang Hong Kong 812,500.00 812,500.00 32.50
Mr. Xia-dong Bi China 625,000.00 625,000.00 25.00
Mr. Ying Xu Hong Kong 625,000.00 625,000.00 25.00
Mr. Chun-kong Leung Hong Kong 312,500.00 312,500.00 12.50
Mr. Jing Yu Hong Kong 125,000.00 125,000.00 5.00
*Directors' Details*
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Shareholders' Details
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Mr. Jing Yu
Address : 1-402, 21, 16 Beidadi Nanli Fengtai Dist Beijing China 100071
*Company Secretary*
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BANCO PACIFIC C&S LTD
Address : 3030 Dominion Centre 43 Queen's Rd East Wanchai, Hong Kong
CR No. : 683285
Management: Mr. Trevor Liu, Assist. Manager
Name Nationality Job Description
Mr. Trevor Liu Hong Kong Assist. Manager
*COMPANY DIRECTORS*
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1
Name : Mr. Chun-kong Leung
Nationality : Hong Kong
ID/Passport No. : E661348(0)
Registered Address : Flat 15A CNT Tower 338 Hennessy Rd, Wanchai, Hong
Kong
Country of Residence : Hong Kong
2
Name : Mr. Wei Wang
Nationality : China
ID/Passport No. : G00328280
Registered Address : Rm 1508 Junafield Bldg Tower 6 Xuanwumen Wei,
Beijing
Country of Residence : China
3
Name : Mr. Xia-dong Bi
Nationality : China
ID/Passport No. : G00328280
Registered Address : Rm 1508 Junafield Bldg Tower 6 Xuanwumen Wei,
Beijing
Country of Residence : China
4
Name : Mr. Ying Xu
Nationality : China
ID/Passport No. : G00328280
Registered Address : 4-402, 19, 1 Yutaoyuan Area Xizhimennei St, Xicheng
Dist, Beijing, 100035
Country of Residence : China
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing and local purchasing of various commodities.
2. Trading of purchased products to local and export markets.
Products: Activated carbon
Castor meals
Castor oil
Caustic soda
Coal
*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)
*Imports*
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Some of the products are imported from India and South East Asia.
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Par of the annual turnover is attributed to export to South East
Asia.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains offices in China and India. Details as follows:
Beijing, China
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Address : Rm 1503-1504
Junafield Bldg Tower 6 Xuanwumen Wei Beijing, China
Tel numbers :10-63103208 /
63103209 / 63102233
Fax number : 10-63102232
Email address : expresswell@vip.sina.com
New Delhi, India
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Address : Ground Fl 4/9
Shanti Niketon Back Side New Delhi, 110021 India
Tel number :11-5165 0748
Fax number : 11-5165 0749
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.
*BANK DETAILS*
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Bank Name : BANK OF CHINA (HONG KONG) LTD
Branch : Central, Hong Kong
Branch Address : 13Fl Bank Of China Tower 1 Garden Rd Central Hong Kong
(Head Office)
SWIFT Code : BKCHHKHH
Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central,Hong Kong
Branch Address : 9Fl HSBC Main Bldg 1 Queen's Rd Central Hong Kong (Head
Office)
SWIFT Code : HSBCHKHH
Bank Name : RABOBANK - HONG KONG BRANCH
Branch : Central,Hong Kong
Branch Address : 43Fl Two Exchange Square 8 Connaught Rd Central Hong
Kong (Head Office)
SWIFT Code : RABOHKHH
Bank Name : SUMITOMO MITSUI BANKING CORP
Branch : Wanchai,Hong Kong
Branch Address : Rm 2601 26Fl Edinburgh Tower 15 Queen's Rd Wanchai Hong
Kong (Head Office)
SWIFT Code : SMBCHKHH
SC is considered small-sized in its line with a development history of 7
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 1011 Iron ores
Trading 1311 Crude
petroleum and natural gas
Trading 2800 Chemicals
and Allied Products
Trading 2999 Petroleum
and coal products,
Trading 3624 Carbon or
graphite products
Trading 5052 Coal &
Other Minerals & Ores
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 1515302000 Castor
oil and its fractions, crude, not chemically modified
Trading 2530 Mineral
substances
Trading 2601120090 Iron
ore agglomerated not pellets or briquettes
Trading 2700 Mineral
fuels, oils, waxes & bituminous sub
Trading 2701 Coal;
briquettes, ovoids etc, mfr from coal
Trading 2701200000 Briquettes,
ovoids and similar solid fuels from coal
Trading 2704000010 Coke
and semicoke of coal commercially suitable for fuel
Trading 2705 Coal
gas, water gas, prdcr gas etc, ex pet gs & othgs
Trading 2711 Petroleum
gases & other gaseous hydrocarbons
Trading 2712200000 Paraffin
wax containing less than 0.75 percent oil
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Iron ores
Trader Industrial
salt
Trader Castor oil
Trader Metallic
coke
Trader Minerals
Trader Polymers
chips
Trader Gas cooking
stove coal
Trader Steam
coal
Trader Castor
meals
Trader Soda ash
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to India
Exporting to South Korea
Importing from Asia
Importing from India
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%)