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MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
HARVEST RICH ( |
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Registered Office : |
Unit D, 22/F., |
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Country : |
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Date of Incorporation : |
08.07.2006 |
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Com. Reg. No.: |
36931689 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of All kinds of Tea and Coffee. |
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
HARVEST RICH (
ADDRESS
Unit D, 22/F.,
PHONE: 3590 3362
FAX: 3590 3361
E-MAIL: jenniferchan@harvestrich.com.hk
(Your enquiry given as: HARVEST RICH ASIA LTD. with former address located at:
Unit D1, 13/F. of the same building.)
MANAGEMENT
Managing Director: Ms. Law Oi Seung, Kiro
SUMMARY
Incorporated on: 8th July, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$2.00
Business Category: Tea and Coffee Trader.
Employees: 5.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Unit D, 22/F.,
BUSINESS REGISTRATION NUMBER
36931689
COMPANY FILE NUMBER
1057945
MANAGEMENT
Managing Director: Ms. Law Oi Seung, Kiro
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
SHAREHOLDERS
As per registry dated
08-07-2008)
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Name |
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No. of shares |
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LAW Oi Seung |
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1 |
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CHEUNG Wai Tak, Phillips |
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1 |
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–– |
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Total: |
2 = |
DIRECTORS
(As per registry
dated 08-07-2008)
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Name (Nationality) |
Address |
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LAW Oi Seung |
Unit D, 22/F., |
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CHAN Chung Yee |
Unit D, 22/F., |
SECRETARY
(As per registry dated 08-07-2008)
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Name |
Address |
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Rex & Rex Corporate Services Ltd. |
Unit 2103, 21/F., Office Tower, Langham Place, 8 Argyle Street, Mongkok, Kowloon, Hong Kong. |
326819 |
HISTORY
The subject was incorporated on 8th July, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit D, 22/F., Mai Luen Industrial Building, 23-31 Kung Yip Street, Kwai Chung, New Territories, Hong Kong, moved to Unit D1, 13/F. of the same building in June 2008.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of tea and coffee.
Employees: 5.
Commodities Imported:
Markets: Hong
Kong, Southeast Asia, Europe,
Terms/Sales: As per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
Profit & Loss: Making a small loss in 2007.
Condition: Business is still under development.
Facilities: Trying to make of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd.,
Standing: Small.
GENERAL
Harvest Rich (
The subject is trading in tea, teabags and coffee. Commodities are sourced from Asian countries. especially from Sri-Lanka.
The subject is representing the HVA Groups Ltd. [HVA], a Sri Lanka-based firm.
HVA originally started as an exporting arm of the
The “Heladiv” brand of tea was established in 1995 creating a new identity for Sri Lankan Tea in the international market. The “Heladiv” brand tea including black tea, green tea, herbal tea, specialty teas, tea concentrate with pure tea extract, fruit base and various other value added tea products.
HVA Groups’ value added tea products are exported to more than 35 countries around the world.
The subject is responsible for marketing the Group’s
products in the Asia Pacific region, the Middle East and
One of the subject’s directors Ms. Chan Chung Yee is also a
director of Tsit Wing (
On the whole, since the history of the subject is just two years and four months, consider it good for normal business engagements on L/C basis.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)