MIRA
INFORM REPORT
|
Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KING WISDOM LTD. |
|
|
|
|
Registered Office : |
10/F., Chee San Building, 10 Pottinger Street, Central |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
05.03.1997. |
|
|
|
|
Com. Reg. No.: |
20805719 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer,
Exporter and Wholesaler of all kinds of Diamonds and Precious Stones, etc |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name of the company
KING WISDOM LTD.
ADDRESS
10/F., Chee San
Building, 10 Pottinger Street, Central, Hong Kong.
PHONE: 2523
6333
FAX: 2523
6689
E-MAIL: kingwisdom@i-cable.com
MANAGEMENT
Managing
Director: Mr. Lee Hung Fai, Arthur
SUMMARY
Incorporated
on: 5th March, 1997.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter
and Wholesaler.
Annual
Turnover: HK$9-12 million.
Employees: 6.
Main Dealing
Banker: Industrial
& Commercial Bank of China (Asia) Ltd., Hong Kong.
Banking
Relation: Satisfactory.
ADDRESS
Registered Head Office:-
10/F., Chee San
Building, 10 Pottinger Street, Central, Hong Kong.
BUSINESS REGISTRATION NUMBER
20805719
COMPANY FILE NUMBER
596897
MANAGEMENT
Managing
Director: Mr. Lee Hung Fai, Arthur
Director &
Contact Person: Mr. Lee Hung Tak
CAPITAL
Nominal Share Capital:
HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
SHAREHOLDERS
(As per registry
dated 05-03-2008)
|
Name |
|
No. of shares |
|
LEE Hung Fai |
|
8,000 |
|
LEE Hung Tak |
|
2,000 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
DIRECTORS
(As per registry
dated 05-03-2008)
|
Name (Nationality) |
Address |
|
LEE Hung Tak |
Room 2201, Block D, New Kwai Fong Gardens,
Kwai Chung, New Territories, Hong Kong. |
|
LEE Hung Fai |
Room 2202, Block B, Villa Rocha, 10
Broadwood Road, Happy Valley, Hong Kong. |
SECRETARY
LEE Hung Fai (As per registry dated 05-03-2008)
HISTORY
The subject was
incorporated on 5th March, 1997 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 diamonds and
precious stones, etc.
Employees: 6.
Commodities
Imported: Belgium, Israel, US, South Africa, India, etc.
Markets: Hong Kong, other Asian
countries, Europe, US, etc.
Annual Turnover: HK$9-12 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
FINANCIAL INFORMATION
Nominal Share
Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit & Loss: Business is profitable.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, King Wisdom Ltd. is jointly owned by two full brothers, namely, Mr. Lee Hung Fai, holding 80% interest, and Mr. Lee Hung Tak, holding 20%. Being Hong Kong merchants, the two Lees are also directors of the subject.
The subject is a diamond and precious stone trader. Raw materials or polished diamonds are chiefly imported from Belgium, Israel, the United States, South Africa, India, etc. Raw materials are processed in Hong Kong. Finished products or polished diamonds are marketed in Hong Kong, exported or re-exported to Southeast Asia, Europe, the United States, etc. Overall business is steady. However, Hong Kong is its prime market. Regular clients and suppliers have been maintained. Annual sales turnover ranges from HK$9 to 12 million. Making a small profit every year.
The subject’s business is chiefly handled by the two Lees.
As the history of the subject is over eleven years in Hong Kong, consider it good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.21 |
|
UK Pound |
1 |
Rs.79.76 |
|
Euro |
1 |
Rs.64.72 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)