MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
LESTINA INTERNATIONAL LTD. |
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Registered Office : |
Room 1001, 10/F., Chevalier Commercial Centre, 8 Wang Hoi Road,
Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.06.1984. |
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Com. Reg. No.: |
9166233 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Integrated Circuits [ICs], Electronic Devices, etc. |
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
LESTINA
INTERNATIONAL LTD.
ADDRESS
Room 1001, 10/F., Chevalier
Commercial Centre, 8 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 2735 1736
FAX: 2730 5260
E-MAIL: sales@lestina.com
Note: The
subject is not located at your given address at:
Room 610, 6/F. of the same building.
MANAGEMENT
Managing
Director: Mr. Chiu Sin Po, Eddie
SUMMARY
Incorporated
on: 29th June, 1984.
Organization: Private Limited Company.
Capital: Nominal: HK$4,000,000.00
Issued: HK$3,363,175.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: US$50-55 million.
Employees: 30. (Hong Kong)
Main Dealing
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 1001, 10/F.,
Chevalier Commercial Centre, 8 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong.
Overseas Offices:-
Beijing Branch
Room
605, Jiahua Building D, Shanghai Third Street, Haidian District, Beijing,
China.
Postal Code: 10085
Tel: (86-10) 8278
4510, 8278 4511, 8278 4512
Fax: (86-10) 8278
4515
E-mail: masonw@lestina.com.cn
Chengdu Branch
Room 534,
Fengshang Business Building, No. 47 Yongfeng Road, High New Area, Chengdu,
Sichuan, China.
Postal Code: 610041
Tel: (86-28) 8514
4000, 8514 4400, 8519 4671
Fax: (86-28) 8518
7012
E-mail: billzh@lestina.com.cn
Wuhan Branch
10
Building, C1-1602, SBI Hongshan District, Wuhan, China.
Postal Code: 430074
Tel: (86-27) 6784
9576
E-mail: kevinx@lestina.com.cn
Shanghai Branch
Room
1888, Building B, No. 100 Zunyi Road, Shanghai, China.
Postal Code: 200051
Tel: (86-21) 6237
2252, 6237 2283
Fax: (86-21) 6237
1877
E-mail: stevenl@lestina.com.cn
Hangzhou Branch
Room
9-1-601, Binwen Garden, No. 300 Qinye Road, Binjiang District, Hangzhou, China.
Postal Code: 310000
E-mail: tonych@lestina.com.cn
Xiamen Branch
Room
502, No. 538 Hexing West Road, Gulong Commercial Town, Xiamen, China.
Postal Code: 361006
Tel: (86-592) 8797
7779
E-mail: wolf@lestina.com.cn
Shenzhen Branch
A806,
Tian’an High-Tech Plaza, Tian’an Cyber Park, Futian District, Shenzhen, China.
Postal Code: 518040
Tel: (86-755) 8343
8383, 8343 9827
Fax: (86-755) 8343
9876
E-mail: sales@lestina.com
Taiwan Branch
6F-4,
No. 15, Lane 360, Section 1, Neihu Road, Neihu District, Taipei City 114,
Taiwan.
Tel: (886-2) 8797
4589
Fax: (886-2) 8797 3475
E-mail: jkpen@lestina.com
Affiliated Company:-
Sheck Wah Tong
Printing Press Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
9166233
COMPANY FILE NUMBER
138402
MANAGEMENT
Managing
Director: Mr. Chiu Sin Po, Eddie
CAPITAL
Nominal Share Capital:
HK$4,000,000.00 (Divided into 40,000,000 shares of HK$0.10 each)
Issued Share
Capital: HK$3,363,175.00
SHAREHOLDERS
(As per registry dated 29-06-2008)
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Name |
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No. of shares |
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CHIU Sin Po,
Eddie |
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27,748,575 |
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CHIU Shun Yee,
Julia |
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3,083,175 |
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WONG Wang Chi,
Eddie |
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2,000,000 |
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FOK Pui Chun,
Mitra |
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600,000 |
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YIM Wai Fong |
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200,000 |
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––––––––– |
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Total: |
33,631,750 ======== |
DIRECTORS
(As per registry dated 29-06-2008)
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Name (Nationality) |
Address |
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CHIU Sin Po, Eddie |
7/F., Block M, Scenic Villas, 26 Scenic
Villa Drive, Victoria Road, Hong Kong. |
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CHEUNG So Heung |
7/F., Block M, Scenic Villas, 26 Scenic
Villa Drive, Victoria Road, Hong Kong. |
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CHIU Shun Yee, Julia |
G/F., 36 Mount Butler Drive, Jardine’s
Lookout, Hong Kong. |
SECRETARY
(As per registry dated 29-06-2008)
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Name |
Address |
Co. No. |
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United
Secretaries Ltd. |
Room 1221, 12/F., Leighton Centre, 77 Leighton Road, Causeway Bay,
Hong Kong. |
20217 |
HISTORY
The subject was
incorporated on 29th June, 1984 as a private limited liability company under
the Hong Kong Companies Ordinance.
Originally the
subject was registered under the name of Lestina Co. Ltd., name changed to the present
style on 28th December, 1984.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Integrated circuits [ICs], electronic
devices, etc.
Employees:
30. (Hong Kong)
150. (China)
Commodities
Imported: Europe, US,
China, etc.
Markets: Hong Kong, China, Hong Kong, Taiwan, etc.
Annual Turnover: US$50-55
million.
Terms/Sales: As
per contracted.
Terms/Buying: Various
terms.
FINANCIAL INFORMATION
Nominal Share
Capital: HK$4,000,000.00 (Divided into 40,000,000 shares of HK$0.10 each)
Issued Share
Capital: HK$3,363,175.00
Mortgage or Charge
(since 1993): (See attachment)
Profit & Loss: Business is profitable.
Condition: Keeping in an active state.
Facilities: Making active use of general
banking facilities.
Payment: So far so good.
Commercial
Morality: Satisfactory.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Hang Seng Bank
Ltd., Hong Kong.
Industrial &
Commercial Bank of China (Asia) Ltd., Hong Kong.
The Daiwa Bank
Ltd., Hong Kong Office.
Standing: Good.
GENERAL
Incorporated in
June 1984, Lestina International Ltd. is chiefly owned by Mr. Eddie Chiu
Sin Po who is holding 82.5% stake.
The subject is the
authorized distributor and representative of a number of major US
semi-conductor manufacturers for China and Hong Kong markets. It has liaison offices in Beijing, Chengdu,
Wuhan, Shanghai, Hangzhou, Xiamen, Shenzhen and Taiwan.
As the authorized
representative and distributor of semi-conductor companies, the subject
provides its customers with after sales services and technical supports. All of its liaison offices have set up an
Engineering Department to support its customers.
The semi-conductor
products represented by the subject are widely used in avionics, wireless
communication, data communication, telecommunication, electronics industries,
industrial control and consumer electronic products. The subject’s employees in China are over 150.
Currently, the
subject is carrying the following brands (or product manufacturers):
Active-Semi, Arrive Technologies, Auvitek International Ltd., Bay Microsystems,
Chelsio Communications, Chesen Electronics Corporation, Chrontel, Cirrus Logic,
HiSilicon Technologies Co. Ltd., Intersil Corporation, Kenet Inc., LayerWalker,
Magnum Semiconductor, MaxLinear Inc., Micrel Inc., MosChip, Myson Technology
Inc., NetLogic Microsystems, Nolan Systems, Nuvoton Technology Corporation,
OnSpec, Pulse, RadiSys, Sigma-Aldrich, Teranetics, TjNET, Twist Semiconductor,
Vimicro Corporation, etc.
The annual sales
turnover of the subject ranges from US$50 to 55 million. Business is rather steady as regular
customers have been maintained.
Mr. Eddie Chiu Sin
Po is also one of the directors and shareholders of Sheck Wah Tong Printing
Press Ltd. [Sheck Wah Tong].
Incorporated on 1st March, 1977, Sheck Wah Tong is jointly owned by
the members of the Chiu family while Eddie Chiu is one of them. Sheck Wah Tong is a printer having got a
factory in Dongguan City, Guangdong Province, China.
On the whole,
having a history of over twenty-four years in Hong Kong, the subject is
considered good for normal business engagements.
COURT CASES: None
per our.
MORTGAGE OR CHARGE
(Since 1993)
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Date |
Particulars |
Amount |
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15-07-1993 |
Instrument: Letter
of Pledge Property: A Cash Deposit of US$146,570.74 presently
evidenced by Deposit Certificate No. HK121428 Mortgagee: The
Daiwa Bank Ltd., Hong Kong Office. |
To secure the due performance of all obligations |
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15-07-1993 |
Instrument: Letter
of Pledge Property: A Cash Deposit of US$1,224,371.77
presently evidenced by Deposit Certificate No. HK121427 Mortgagee: The
Daiwa Bank Ltd., Hong Kong Office. |
To secure the due performance of all obligations |
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10-08-1999 |
Instrument: Running
Deed of Charge Property: All monies and deposits now or hereafter
in the time deposit account No. HK-286245287 kept by the Company with Hang
Seng Bank Ltd. Mortgagee: Hang
Seng Bank Ltd., Hong Kong. |
To secure all monies and liabilities which are now or at any time
hereafter may be outstanding owing or payable by the Company to Hang Seng
Bank Ltd. |
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13-05-2003 |
Instrument: Charge Property: By way of first fixed charge all monies
from time to time standing to the credit of the Security Account Nos.
618572774494 and 618555892544 Mortgagee: Fortis
Bank Asia HK, Hong Kong Branch.
[Name changed to Belgian Bank but the business was taken over by Industrial
& Commercial Bank of China (Asia) Ltd.] |
All monies obligations and liabilities |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.18 |
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UK Pound |
1 |
Rs.75.05 |
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Euro |
1 |
Rs.60.89 |
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%)