MIRA INFORM REPORT

 

 

Report Date :           

04.08.2011

 

IDENTIFICATION DETAILS

 

Name :

SCORPIO  ENTERPRISES  CO.  LTD.

 

 

Registered Office :

Flat B, 9/F., Season Commercial Building, 3 Humphreys Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

02.06.1992

 

 

Com. Reg. No.:

15769554

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, 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 :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Company name

 

SCORPIO  ENTERPRISES  CO.  LTD.

 

 

Company ADDRESS

 

Flat B, 9/F., Season Commercial Building, 3 Humphreys Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2311 0081

FAX:                 2311 0012

E-MAIL:            wongngfamily@yahoo.com.hk

 

 

MANAGEMENT

 

Managing Director:  Mr. Ng Chi Kwong

 

 

SUMMARY

 

Incorporated on:             2nd June, 1992.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$2,000,000.00

 

Issued:              HK$2,000,000.00

 

Business Category:        Diamond Trader.

 

Employees:                   6.

 

Main Dealing Banker:     Wing Lung Bank Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

COMPANY ADDRESS

 

Registered Head Office:-

Flat B, 9/F., Season Commercial Building, 3 Humphreys Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

15769554

 

 

COMPANY FILE NUMBER 

 

0359744

 

 

MANAGEMENT

 

Managing Director:         Mr. Ng Chi Kwong

Contact Person:             Ms. Wong Yee Ching, Winnie

 

 

CAPITAL

 

Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$2,000,000.00

 

 

SHAREHOLDER

(As per registry dated 02-06-2010)

 

Name

 

No. of shares

NG Chi Kwong

 

2,000,000

=======

 

DIRECTOR    

(As per registry dated 02-06-2010)

 

Name

(Nationality)

 

Address

NG Chi Kwong

Penthouse No. 22A of House 22A, Forest Hill, 31 Lo Fai Road, Tai Po, New Territories, Hong Kong.

 

 

SECRETARY 

(As per registry dated 02-06-2010)

 

Name

Address

Co. No.

Sam Wang Ltd.

Room 2009, 20/F., Hang Bong Commercial Centre, 28 Shanghai Street, Kowloon, Hong Kong.

0525239

 

 

HISTORY

 

The subject was incorporated on 2nd June, 1992 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 jewellery products, emerald, precious stones, etc.

 

Employees:                   6.

 

Commodities Imported:   India, Belgium, other European countries, etc.

 

Markets:                       China, Japan, South Korea, Taiwan, Southeast Asia, other Asian countries, Africa,

Australia, Eastern Europe, Middle East, North America, Central & South America, Scandinavia, Western Europe, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

FINANCIAL INFORMATION

 

Nominal Share Capital:               HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)

 

Issued Share Capital:                 HK$2,000,000.00

 

Mortgage or Charge:                   (See attachment)

 

Profit or Loss:                            Making a small profit every year.

 

Condition:                                  Keeping in an active and satisfactory manner.

 

Facilities:                                  Making active use of general banking facilities.

 

Payment:                                  Met trade commitments as contracted.

 

Commercial Morality:                 Satisfactory.

 

Banker:                                     Wing Lung Bank Ltd., Hong Kong.

 

Standing:                                  Normal.

 

 

GENERAL

 

Having issued 2 million ordinary shares of HK$1.00 each, Scorpio Enterprises Co. Ltd. is wholly-owned by Mr. Ng Chi Kwong who is a Hong Kong merchant.  Ng is also the only director of the subject.

Incorporated in June 1992, the subject is a diamond importer, exporter and wholesaler.  It is trading in bracelets, brooches, earrings, necklaces, rings, pendants, etc.  Rough diamonds, polished and cut diamonds are imported from India, Belgium and other European countries, etc.  Some of the rough diamonds are polished or processed in Hong Kong.

It is reported that the subject has had an affiliated factory in Southern China employing about 100 persons.  However, details are unknown.  Finished products and polished diamonds are marketed in Hong Kong and China or exported to South Korea, Taiwan, Southeast Asia, other Asian countries, Africa, Australasia, Eastern Europe, the Middle East, North America, Central & South America, Scandinavia, Western Europe, etc.  Business is rather active.  Regular suppliers and foreign customers have been maintained.

The subject’s business is chiefly handled by Ms. Winnie Wong Yee Ching who is the contact person of the subject.  Wong is a Hongkonger.

The subject owns a number of premises in Hong Kong which have been mortgaged to Wing Lung Bank Ltd., a Hong Kong-based bank, for securing general banking facilities.

The subject’s history in Hong Kong is over eighteen years and eleven months.  Overall business is active and satisfactory.

On the whole, consider the subject good for normal business engagements.

 

REMARKS:

 

Court Cases:      None per our.

 

Property information of the company:-

1.     Property Location:       Flat A on 21/F. of Block 5, Sun Tuen Mun Centre,
55-65 Lung Mun Road, Tuen Mun, New Territories, Hong Kong.

Owner:     Scorpio Enterprises Co. Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

18-04-1994

-

Wing Lung Bank Ltd., Hong Kong.

Mortgage to secure general banking facilities

12-06-1995

-

- ditto -

Second mortgage

 

2.     Property Location:       Flat A on 10/F., Luxury Court, 9 Hau Fook Street, Kowloon, Hong Kong.

Owner:     Scorpio Enterprises Co. Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

10-01-1996

-

Wing Lung Bank Ltd., Hong Kong.

Mortgage to secure general banking facilities

 

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

18-04-1994

Instrument:      Mortgage

Property:

13/41,800th parts or shares of and in Tuen Mun Town Lot No. 289 [Flat A on 21/F. of Block 5 (formerly known as Tower 5) of Sun Tuen Mun Centre, 55-65 Lung Mun Road, Tuen Mun, New Territories, Hong Kong.]

Mortgagee:      Wing Lung Bank Ltd., Hong Kong.

HK$900,000

12-06-1995

Instrument:      Second Mortgage

Property:

13/41,800th parts or shares of and in Tuen Mun Town Lot No. 289 [Flat A on 21/F. of Block 5 (formerly known as Tower 5) of Sun Tuen Mun Centre, 55-65 Lung Mun Road, Tuen Mun, New Territories, Hong Kong.]

Mortgagee:      Wing Lung Bank Ltd., Hong Kong.

To secure all moneys in respect of general banking facilities

10-01-1996

Instrument:      Mortgage

Property:

4/458th parts or shares of and in Kowloon Inland Lot No. 7910, 8102 & 8510 [Flat A on 10/F. of Luxury Court, 8‑9A Hau Fook Street (now known as 9 Hau Fook Street), Kowloon, Hong Kong.]

Mortgagee:      Wing Lung Bank Ltd., Hong Kong.

To secure all moneys in respect of general banking facilities

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.72.21

Euro

1

Rs.62.87

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.