MIRA
INFORM REPORT
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Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELECTRO PROJECTS
LTD. |
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Registered Office : |
Room 1001, 10/F., Kornhill Metro Tower, 1 Kornhill Road, Quarry Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.08.2007 |
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Com. Reg. No.: |
38450071 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of all kinds of Plastic Moulds. |
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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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
ELECTRO
PROJECTS LTD.
ADDRESS
c/o Tat Hing
Development Ltd.
Room 1001, 10/F., Kornhill
Metro Tower, 1 Kornhill Road, Quarry Bay, Hong Kong.
PHONE: 2591 9198
FAX: 2591 6773
E-MAIL: thingltd@netvigator.com
MANAGEMENT
Managing
Director: Ms. Zhang Liqin
SUMMARY
Incorporated on: 30th August, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$2.00
Business Category: Importer and Exporter.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
ADDRESS
Registered Office:-
c/o Fu Tang
Secretarial Services Ltd.
Unit A & B,
21/F., World Trust Tower, 50 Stanley Street, Central, Hong Kong.
Corresponding Address:-
c/o Tat Hing
Development Ltd.
Room 1001, 10/F.,
Kornhill Metro Tower, 1 Kornhill Road, Quarry Bay, Hong Kong.
Associated Companies:-
Dongguan Tat Hing
Electric Appliance Co. Ltd., China.
Dongguan Tat Hing
Mould Co. Ltd., China.
Dongguan Tat Hing
Plastic Mould Co. Ltd., China.
Tat Hing
Development Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
38450071
COMPANY FILE NUMBER
1163160
MANAGEMENT
Managing
Director: Ms. Zhang Liqin
CAPITAL
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$2.00 (Subscribers’ shares)
SUBSCRIBERS
(As per registry dated 30-08-2007)
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Name |
Occupation |
No. of shares |
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ZHANG Liqin |
Merchant |
1 |
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SHEN Qirong |
Merchant |
1 |
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–– |
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Total: |
2 = |
DIRECTORS
(As per registry dated 02-10-2007)
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Name (Nationality) |
Address |
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ZHANG Liqin |
Room 1401, Building 1, No. 52 Fenghuang
Dong Jie, Gulou Area, Nanjing, China. |
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SHEN Qirong |
Room 1501, Building 1, No. 52 Fenghuang
Dong Jie, Gulou Area, Nanjing, China. |
SECRETARY
(As per registry dated 30-08-2007)
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Name |
Address |
Co. No. |
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Fu Tang Secretarial Services Ltd. |
Unit A & B,
21/F., World Trust Tower, 50 Stanley Street, Central, Hong Kong. |
327024 |
HISTORY
The subject was incorporated
on 30th August, 2007 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 and
Exporter.
Lines: All kinds of
plastic moulds.
Employees: Nil.
Materials/Commodities: Imports raw materials from European
countries, some Asian countries and finished
products from China.
Markets: Japan, 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$2.00 (Subscribers’ shares)
Profit & Loss: Suffered from a small loss in 2007.
Condition: Business is still under development.
Facilities: Trying to make use of general banking facilities.
Payment: Maybe meet as required.
Commercial Morality: Too early to comment.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Electro Projects
Ltd. was jointly subscribed by two China merchants, namely, Ms. Zhang Liqin and
Mr. Shen Qirong. Each of the
subscribers has taken just a single share of HK$1.00. Zhang and Shen are also directors of the subject. Currently, they are residing in Nanjing
City, Jiangsu Province, China.
The subject does
not have its own operating office. Its
registered office is in a commercial service firm located at Unit A & B,
21/F., World Trust Tower, 50 Stanley Street, Central, Hong Kong known as Fu
Tang Secretarial Services Ltd. [Fu Tang] which is handling its correspondences
and documents. Fu Tang is also the corporate
secretary of the subject.
The subject’s
corresponding address is located at the operating address of Tat Hing
Development Ltd. [Tat Hing], a Hong Kong-registered firm, which is located at
Room 1001, 10/F., Kornhill Metro Tower, 1 Kornhill Road, Quarry Bay, Hong
Kong.
Incorporated on
25th September, 1998, Tat Hing is considered to be a business partner of the
subject.
Currently, trading
in moulds, Tat Hing has had a factory in Dongguan City, Guangdong Province,
China, known as Dongguan Tat Hing Mould Co. Ltd. [Dongguan Tat Hing]. Employing about 100 persons, Dongguan Tat
Hing is engaged in manufacturing all kinds of plastic moulds for electric
appliances, toys, auto-parts, office equipment, etc. Tat Hing’s products are exported to Japan, the United States and
Europe.
Tat Hing has had
two more affiliated companies in Dongguan City, namely, Dongguan Tat Hing
Electric Appliance Co. Ltd. and Dongguan Tat Hing Plastic Mould Co. Ltd.
It is likely that
the subject has got an affiliated factory in Nanjing City, Jiangsu Province,
China.
The subject has no
employees in Hong Kong.
Since the subject
does not have its own operating office and has no employees in Hong Kong,
consider it good for 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.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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%)