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MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
TSUN MEE
INVESTMENT (HK) LTD. |
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Registered Office : |
G/F. & M/F., Tsun Mee Industrial Building, 8 Wang Yip Street East,
Yuen Long, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.06.1992. |
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Com. Reg. No.: |
16031041 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of Leathers for Shoe Uppers, Handbags, Wallets, Suitcase and Garments. |
RATING &
COMMENTS
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MIRAs 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
TSUN MEE INVESTMENT (HK)
LTD.
ADDRESS
G/F. & M/F.,
Tsun Mee Industrial Building, 8 Wang Yip Street East, Yuen Long, New
Territories, Hong Kong.
PHONE: 2477 3038, 2477 1866
FAX: 2478 3128
E-MAIL: elsa@siukee.com
[Your enquiry
given as: TSUNMEE INVESTMENT (HK) LTD of the same address.]
MANAGEMENT
Managing
Director: Mr. Wong Yui Chuen
SUMMARY
Incorporated on: 16th June, 1992.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Leather Trader.
Employees: 20. (Including affiliates in Hong Kong)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
G/F. & M/F.,
Tsun Mee Industrial Building, 8 Wang Yip Street East, Yuen Long, New
Territories, Hong Kong.
China Factory:-
[Operated by affiliate]
Che Po Village (or
known as Che Pau Tsuen), Tinhe District, Guangzhou, Guangdong Province, China.
Affiliated Companies:-
Grand Land Trading
Ltd., Hong Kong. [Dissolved]
Kingwell (China)
Ltd., Hong Kong.
Siu Kee (Hong
Kong) Tannery Ltd., Hong Kong.
Siu May
(Guangzhou) Tannery, China.
Siu May Tannery
(China) Ltd., Hong Kong. [Dissolved]
BUSINESS REGISTRATION NUMBER
16031041
COMPANY FILE NUMBER
362260
MANAGEMENT
Managing
Director: Mr. Wong Yui Chuen
CAPITAL
Nominal Share
Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,000,000.00
SHAREHOLDERS
(As per registry dated 16-06-2008)
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Name |
Occupation |
No.
of shares |
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WONG Yui Chuen |
Businessman |
500,000 |
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WONG Kwan Chuen |
Businessman |
500,000 |
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Total: |
1,000,000 ======= |
DIRECTORS
(As per registry dated 16-06-2008)
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Name (Nationality) |
Address |
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WONG Kwan Chuen |
Flat B, 34/F., Block 2, Maywood court,
Kingswood Villas, 9 Tin Lung Road, Tin Shui Wai, Yuen Long,
New Territories, Hong Kong. |
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WONG Yui Chuen |
Flat B, 34/F., Block 2, Maywood court,
Kingswood Villas, 9 Tin Lung Road, Tin Shui Wai, Yuen Long,
New Territories, Hong Kong. |
SECRETARY
(As per registry dated 16-06-2008)
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Name |
Address |
Co. No. |
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Hong
Kong Fiduciaries Ltd. |
10/F., 17 Waterloo Road, Kowloon, Hong Kong. |
80749 |
HISTORY
The subject was
incorporated on 16th June, 1992 as a private limited liability company under
the Hong Kong Companies Ordinance.
Originally the
subject was registered under the name of Multijet International Ltd., name
changed to the present style on 10th November, 1992.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: Leathers for shoe uppers, handbags, wallets, suitcase and garments.
Trade Mark: SIU KEE brand.
Office/Factory Space: 5,500 sq.m. in Hong Kong.
Employees: 20. (Including affiliates in Hong Kong) 90. (China)
Raw Materials: Mainly imported from India, Europe, etc.
Markets: Hong Kong, China, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share
Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,000,000.00
Mortgage or
Charge:-
Date of Charge: 19-11-1992
Amount: To secure general banking
facilities to the extent of HK$15,000,000
Property: Yuen Long Town Lot No. 387 (Wei
Yin Industrial Building, Yuen Long, New Territories, Hong Kong.)
Mortgagee: The Kwangtung Provincial Bank,
Hong Kong Branch. [Merged into
Bank of China (Hong Kong) Ltd.]
Profit & Loss: Making a very small profit every year.
Condition: Keeping in a normal state.
Facilities: Making
active use of general banking facilities.
Payment: Regularly
met.
Commercial
Morality: Good.
Bankers:-
Bank of
China (Hong Kong) Ltd., Hong Kong.
Hang Seng Bank
Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued
1,000,000 ordinary shares of HK$1.00 each, Tsun Mee Investment (HK) Ltd. is
equally owned by Mr. Wong Kwan Chuen and Mr. Wong Yui Chuen. Being Hong Kong merchants, they are also
directors of the subject.
The subject is
trading in leather raw materials. It is
trading in the following materials:-
·
Sheep W/B, crust, finish garment nappa, full grain nappa
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Cow finish leather for handbags and shoes
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Pig nappa and suede for garment and hand bags
Raw materials are
chiefly imported from India, Italy, Spain and other European countries.
The subject has
got an affiliated company Siu Kee (Hong Kong) Tannery Ltd. [Siu Kee] located at
its operating address. Siu Kee is one
of the leading firms in this line of business.
Siu Kee is also trading in split for shoe uppers, leather goods,
handbags, etc.
The subject has
got an affiliated factory in China engaged in processing of raw leathers. It is specialized in producing leathers for
handbags, shoes and garments. Located
in Tianhe District, Guangzhou, Guangdong China, the factory is known as Siu May
(Guangzhou) Tannery. Bearing the brand
name of SIU KEE, the processed leather is sold to leather product
manufacturers in Guangdong Province or marketed in Hong Kong, as well as
exported to Southeast Asia, Australia, North America, etc. Business has been active and steady.
Having a history
of over sixteen years, the subject is considered good for normal business
engagements.
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.48.83 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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 SCs 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%)