MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRIME ORCHARDS
LTD. |
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Registered Office : |
Room 1501-1502, 15/F., Omega Plaza, 32-34A Dundas Street, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.08.2000. |
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Com. Reg. No.: |
31712884 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer,
Exporter and Wholesaler of All kinds of Fruits. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
PRIME
ORCHARDS LTD.
ADDRESS
Room 1501-1502,
15/F., Omega Plaza, 32-34A Dundas Street, Kowloon, Hong Kong.
PHONE: 2388 0871
FAX: 2384 0932
E-MAIL: info@primeorchards.com
MANAGEMENT
Managing
Director: Mr. Kwan Kam Chi
SUMMARY
Incorporated on: 4th August, 2000.
Organization: Private Limited Company.
Capital: Nominal: HK$1,100,000.00
Issued: HK$1,100,000.00
Business Category: Fruit Importer and Wholesaler.
Employees: 15. (Hong Kong)
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 1501-1502,
15/F., Omega Plaza, 32-34A Dundas Street, Kowloon, Hong Kong.
Affiliated Companies:-
Beaute Elements International Ltd., Hong Kong.
Chung Wing Fruits Co. Ltd., Hong Kong.
Fruits Connections Co. Ltd., Hong Kong.
Fruits Union Ltd., Hong Kong.
Fu Mau International Ltd., Hong Kong.
Fu Yun Lann Ltd., Hong Kong.
Grand Loyal Corporation Ltd., Hong Kong.
International Duty Free Agency (HK) Ltd., Hong Kong.
Poly Rising Investment Ltd., Hong Kong.
Shenzhen Fu Mau Trading Co. Ltd., China.
Shun King Lann Co. Ltd., Hong Kong. [Dissolved]
Sunshine Fruits Co. Ltd., Hong Kong. [Dissolved]
System Management Consultant Ltd., Hong Kong. [Dissolved]
Tsun Choi Fruits Co. Ltd., Hong Kong. [Dissolved]
Wang Fung Transportation Ltd., Hong Kong. [Dissolved]
BUSINESS REGISTRATION NUMBER
31712884
COMPANY FILE NUMBER
726310
MANAGEMENT
Managing
Director: Mr. Kwan Kam Chi
Director & General
Manager: Mr. Lau Kam Lun
CAPITAL
Nominal Share
Capital: HK$1,100,000.00 (Divided into 1,100,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,100,000.00
SHAREHOLDERS
(As per registry dated 04-08-2008)
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Name |
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No. of shares |
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KWAN Kam Chi |
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245,000 |
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KWAN Kam Shan |
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230,000 |
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Chung Wing
Fruits Co. Ltd., Hong Kong. |
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375,000 |
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YEUNG Chi Fai |
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100,000 |
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LAU Kam Lun |
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100,000 |
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POON Chi Wang, Daniel |
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50,000 |
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–––––––– |
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Total: |
1,100,000 ======= |
DIRECTORS
(As per registry dated 04-08-2008)
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Name (Nationality) |
Address |
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CHEUNG Siu Hong |
4/F., 51 Tung Choi Street, Mongkok,
Kowloon, Hong Kong. |
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YEUNG Chi Fai |
Flat A, 27/F., Grand Excelsior, 83 Waterloo
Road, Kowloon, Hong Kong. |
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POON Chi Wang,
Daniel |
Room A, 16/F., Yau On Court, 322 Shanghai
Street, Yaumatei, Kowloon, Hong Kong. |
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LAU Kam Lun |
Flat A, 2/F., Tower 4, Man Lai Court, 43
Man Lai Road, Tai Wai, Shatin, New Territories, Hong Kong. |
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KWAN Kam Chi |
Flat 2, 11/F., Block A, Fair Way Garden, 7
Liberty Avenue, Ho Man Tin, Kowloon, Hong Kong. |
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KWAN Kam Shan |
Flat B, 5/F., Block 7, Hanley Villa,
Castle Peak Road, Yau Kom Tau, New Territories, Hong Kong. |
SECRETARY
KWAN Kam Chi (As per registry dated 04-08-2008)
HISTORY
The subject was
incorporated on 4th August, 2000 as a private limited liability company under
the Hong Kong Companies Ordinance.
Originally the subject
was registered under the name of Winning Plan Ltd., name changed to Royal Food
Co. Ltd. on 23rd October, 2000, to Shun King Fruits Co. Ltd. on 27th April,
2001, and further to the present style on 27th August, 2001.
Formerly the subject
was located at Flat E, G/F., Wah Tak Building, 1 Waterloo Road, Yaumatei,
Kowloon, Hong Kong, moved to 16/F., Ginza Square, 565-567 Nathan Road,
Yaumatei, Kowloon, Hong Kong with effect from 18th August, 2001; and
further to the present address in June 2005.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of fruits.
Employees: 15.
(Hong Kong)
8. (China)
Commodities
Imported: Imported from
Europe, Australia, Southeast Asia, India, Taiwan, etc.
Markets: Hong Kong, China and Southeast Asia.
Terms/Sales: COD or as per contracted.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share
Capital: HK$1,100,000.00 (Divided into 1,100,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,100,000.00
Alternation of
Capital:-
|
04-08-2000 |
paid up |
HK$ 2.00 |
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13-10-2000 |
paid up |
HK$ 9,998.00 |
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22-08-2002 |
paid up |
HK$ 990,000.00 |
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12-05-2006 |
paid up |
HK$ 100,000.00 |
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––––––––––––––– |
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Total: |
paid up |
HK$ 1,100,000.00 ============== |
Increases of Nominal
Capital:-
|
From |
HK$ 10,000,00 |
to |
HK$1,000,000.00 |
on |
22-08-2002 |
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From |
HK$1,000,000.00 |
to |
HK$1,100,000.00 |
on |
12-05-2006 |
Profit & Loss: Traded at a small profitable angle.
Condition: Business is normal.
Facilities: Making rather active use of general
banking facilities.
Payment: Met as required.
Commercial
Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong.
Standing: Normal.
GENERAL
Prime Orchards
Ltd. has increased its issued share capital from HK$10,000.00 to
HK$1,000,000.00 and further to HK$1,100,000.00.
Having issued
1,100,000 ordinary shares of HK$1.00 each, now, the subject is jointly owned by
Mr. Kwan Kam Chi, holding 22.3%; Mr. Kwan Kam Shan, 20.9%; Chung Wing Fruits Co.
Ltd., Hong Kong, 34.1%; Mr. Yeung Chi Fai, 9.1%; Mr. Daniel Poon Chi Wang,
4.5%; and Mr. Lau Kam Lun, 9.1%. Mr.
Lau Kam Lun is the newcomer.
The subject is a
fruit trader. It imports, exports and
wholesales all kinds of fruits which are imported from European countries,
Australia, Southeast Asia, Taiwan, India, Japan, Chile, Turkey, etc.
It chiefly imports
mangoes from India. Hong Kong is its
prime market.
The subject’s
shareholding company Chung Wing Fruits Co. Ltd. is engaged in retailing its
fruits. Business is rather active.
The subject’s
wholesaling centre is in Fruit Wholesaling Market, Yau Ma Tei, Kowloon, Hong
Kong, consisting of six shops. Its
clients include supermarkets, hotels, fruit retailing shops, etc.
In 2004, the
subject set up an affiliated company Fu Mau International Ltd., a Hong
Kong-registered firm, and Shenzhen Fu Mau Trading Co. Ltd., a China-based firm
employing about 8 persons. These two
firms are responsible for the China market.
Now, the subject’s fruits have been marketed in Guangzhou, Beijing,
Shanghai and Qingdao, etc.
Besides marketing
in Hong Kong and China, the subject’s fruits are exported to Taiwan, Vietnam,
Singapore, etc. Business is rather
active and steady. Regular clients have
been maintained.
The subject’s
business is chiefly handled by Mr. Kwan Kam Chi. Kwan is also the director of Fruits Union Ltd. [Fruits Union], a
Hong Kong-registered firm incorporated on 27th October, 1999. Fruits Union is a fruit juice supplier. Business is very active. Kwan is a significant character in the field
of fruit industry.
As the history of
the subject in Hong Kong is over eight years, on the whole, consider it good
for normal business engagements.
REMARKS
Court Cases: None per our.
Property
information of directors:-
1. Property Location: Flat A2 on 11/F. of Block A, Fair Way Garden, 7 Liberty
Avenue, Kowloon, Hong Kong.
Owner: Kwan Kong & Kwan Kam Chi (Joint
Tenants)
Date of
Purchase: 05-11-1990
Purchased
Price: HK$1,850,000
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
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04-03-2002 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
2. Property Location: Flat B on 5/F. of Tower 7, Hanley Villa, 22 Yau Lai Road,
Ting Kau, Tsuen Wan, New Territories, Hong Kong.
Owner: Kwan Kam Shan & Kwan Kong (Joint
Tenants)
Date of
Purchase: 22-07-1994
Purchased
Price: HK$3,709,800 pt.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
15-03-2002 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
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%)