MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GLORY FOOD INT'L LTD |
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Registered Office : |
Rm 1707, 17FL Concordia Plaza - Greenfield
Tower 1 Science Museum Rd, Tsimshatsui East Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.10.2003 |
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Com. Reg. No.: |
0868130 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and local purchase of frozen meat, poultry and dried seafood products. Sales and Distribution of purchased products to local and overseas
markets. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
GLORY
FOOD INT'L LTD
RM 1707, 17FL CONCORDIA PLAZA - GREENFIELD
TOWER
1 SCIENCE MUSEUM RD, TSIMSHATSUI EAST
KOWLOON, HONG KONG.
TEL: 852-28518882 FAX: 852-28506588
EXECUTIVE SUMMARY
INCORPORATION DATE : OCTOBER 29, 2003
REGISTRATION NO. :
0868130
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. MING-HOI CHUNG (DIRECTOR)
STAFF STRENGTH :
10
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 5,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
HKD 7.77507 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –Hong Kong Dollars
*Company Registration*
==================
(1)
License number : 0868130
Date issued : 29 October, 2003
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 34720139-000
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Capital Details*
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Share value
: HKD 1.00/-each
Authorized capital : HKD 10,000.00
Issued & paid-up capital :
HKD 10.00 divided into 10 ordinary shares
*Corporate & Organization Structure*
============================
A family-owned and operated business.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
===================
Only Mr. Tim-hoi Chung can sign on behalf of the company with seal
affixed.
www.gloryltd.com.hk The design
is professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: info@gloryltd.com.hk
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: 10
Shareholders Country
Number Amount
(HKD) %
---------------------- ------------- ------------ ------------------ ------
Mr. Tim-hoi Chung Hong Kong 8.00 8.00
80.00
Mr. Ming-hoi Chung Hong Kong 2.00
2.00
20.00
*Company Secretary*
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BOSSWOOD INT'L LTD
CR number : 487625
Address : Rm A 5Fl Bo Fung
Bldg 34 Haiphong Rd, Tsimshatsui Kowloon
*Company Directors*
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1
Name :
Mr. Ming-hoi Chung
Nationality :
Hong Kong
ID/Passport No. :
C318182(9)
Registered Address : Ground
Fl 14 Sheung Tsuen Pat Heung, Yuen Long, New Territories
Country of Residence : Hong
Kong
2
Name :
Mr. Tim-hoi Chung
Nationality :
Hong Kong
ID/Passport No. :
C318182(9)
Registered Address : Ground
Fl 14 Sheung Tsuen Pat Heung, Yuen Long, New Territories
Country of Residence : Hong
Kong
*Main Products & Services*
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Specializes in the following areas of work:
1. Import and local purchase of frozen meat, poultry and dried seafood
products.
2. Sales and distribution of purchased products to local and overseas
markets.
Products: Beef offal
Chicken offal
Dried abalone
Dried fish maw
Dried sea
cucumber
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Local Distribution Network*
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Part of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES :
46
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL amounts depending
on individual judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a short history. Taking
into consideration of SC’s general performance, a credit line up to USD 5,000
would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2034 Food
products, dried and dehydrated
Trading 2099 Food
products,
Trading 5142 Packaged
Frozen Foods
Trading 5144 Poultry
& Poultry Products
Trading 5146 Fish &
Seafoods
Trading 5147 Meats &
Meat Products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 0200 Meat
& edible meat offal
Trading 0201202000 Beef
cuts, high-quality, with bone in, processed, fresh or chilled
Trading 0203 Meat
of swine (pork), fresh, chilled or frozen
Trading 0204422000 Lamb
- meat, cuts with bone in, frozen
Trading 0206 Ed
offal, bovine, swine, sheep, goat, horse, etc.
Trading 0206900020 Offal
of sheep (including lamb), edible, frozen
Trading 0207 Meat
& ed offal of poultry, fresh, chill or frozen
Trading 0207130000 Chicken
cuts and edible offal, fresh or chilled
Trading 0208 Meat
& edible offal, fresh, chilled or frozen
Trading 0300 Fish
& crustaceans
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Lamb
offal
Trader Dried sea
cucumber
Trader Pork cuts
Trader Meats
Trader Offals
Trader Dried sharks
fins
Trader Chicken
offal
Trader Turkey
offal
Trader Duck
offal
Trader Geese
offal
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Importing from Argentina
Importing from Asia
Importing from Brazil
Importing from Europe
Importing from New Caledonia
Importing from North America
Importing from Oceania
Importing from South America
Importing from Uruguay
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)