MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
FONTANA LEATHER
INTERNATIONAL LTD. |
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Registered Office : |
Unit 34-35, 12/F., Pacific Trade Centre, 2 Kai Hing Road, Kowloon Bay,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.02. 1999. |
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Com. Reg. No.: |
22282278 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Finished Leather and Crust Leather. |
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
FONTANA
LEATHER INTERNATIONAL LTD.
ADDRESS
Unit 34-35, 12/F.,
Pacific Trade Centre, 2 Kai Hing Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 2751 7363
FAX: 2753 9836
E-MAIL: fontana@netvigator.com
MANAGEMENT
Managing
Director: Mr. Chu Shiu Keung, Michael
SUMMARY
Incorporated on: 22nd February, 1999.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 10. (Including affiliates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Unit 34-35, 12/F.,
Pacific Trade Centre, 2 Kai Hing Road, Kowloon Bay, Kowloon, Hong Kong.
Affiliated Companies:-
Fontana Leather
Mercantile Co. Ltd., Hong Kong.
Real Idea Ltd.,
Hong Kong.
Super Classic
Investment Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
22282278
COMPANY FILE NUMBER
667874
MANAGEMENT
Managing
Director: Mr. Chu Shiu Keung, Michael
CAPITAL
Nominal Share Capital:
HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
SHAREHOLDERS
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Name |
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No. of shares |
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NG Yu Sin |
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8,000 |
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CHU Shiu Keung |
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2,000 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 22-02-2008)
DIRECTORS
(As per registry dated 22-02-2008)
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Name (Nationality) |
Address |
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CHU Shiu Keung |
House A11, Stage 5, Marina Cove, Sai Kung,
New Territories, Hong Kong. |
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NG Yu Sin |
Apartment Block 111, Clementi Street 13,
#12-48, Singapore 120111. |
SECRETARY
(As per registry dated 22-02-2008)
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Name |
Address |
Co. No. |
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Current
Management Consultants Ltd. |
21/F., Fee Tat Commercial Centre, 613 Nathan Road, Kowloon, Hong Kong. |
145770 |
HISTORY
The subject was
incorporated on 22nd February, 1999 as a private limited liability company
under the Hong Kong Companies Ordinance.
Apart from these, neither
material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of finished leather and crust leather.
Employees: 10. (Including affiliates)
Materials/Commodities: India, Spain, Italy, other European countries, etc.
Markets: Hong Kong, China and other Asian countries.
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$10,000.00
Profit & Loss: Making a very small profit.
Condition: Business is fairly active.
Facilities: Adequate for current running.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued
10,000 ordinary shares of HK$1.00 each, Fontana Leather International Ltd. is
jointly owned by Ms. Ng Yu Sin, holding 80% interest, and Mr. Michael Chu Shiu
Keung, 20%.
The subject is
trading in all kinds of finished leather and crust leather. It is specialized in Glazed Kid, cow full
grain, corrected grain, oil pull ups and box leather, calf, cow natural and
dyed crust leather, buffalo calf, kid suede, kid/cow linings and industrial
leathers from India, and European countries.
Prime markets are Hong Kong, China, and other Asian countries. Business is fairly active.
The subject has
got an affiliated company Real Idea Ltd. [Real Idea], a
Hong Kong-registered firm located at the same operating address.
Real Idea is also
operated by Ms. Ng Yu Sin and Mr. Chu Shiu Keung. Real Idea assists high-technology companies to penetrate the
global markets. It is specialized in
the major Asian languages. Through
strong partnerships with translation suppliers, Real Idea provides European and
the Middle Eastern languages as well.
It offers its linguistic, engineering, and management services to
clients throughout Asia, Europe, and the United States.
Real Idea’s
customizable services are the followings:-
·
Software localization
·
Software internationalization
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Multilingual translation
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Multilingual DTP
·
Multilingual software QA testing
Mr. Michael Chu is
chairman and a founding partner of Real Idea.
He is an investor and managing director of several Hong Kong-based
businesses, including the subject, Fontana Leather Mercantile Co. Ltd., and
Super Classic Investment Ltd. Both are
Hong Kong-registered firms.
Ms. Ng Yu Sin, the
subject’s main shareholder, focuses on Real Idea’s financial management and
directs the activities of software localization and internationalization teams
throughout Asia. Prior to joining Real
Idea, Ms. Ng served as office manager and a project manager for LioNBridge
in Beijing. She also oversaw
administration and human resources at the Beijing office of Stream Language
Solutions. She functioned as
localization manager for that company and was responsible for vendor selection
and project execution. During her
12-year career in software localization and internationalization, Ms. Ng has
been a manager at the Beijing branch of the R. R. Donnelly Global Language
Service.
It seems that the
shareholders main business is operating Real Idea instead of the subject.
On the whole,
consider the subject good for normal business engagements.
COURT CASES: None
per our records.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
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%)