MIRA
INFORM REPORT
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Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
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Name : |
HUNG CHUN ENTERPRISE
COMPANY |
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Registered Office : |
Unit 16, 11/F., |
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Country : |
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Date of Incorporation : |
28.12.1988 |
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Legal Form : |
Partnership |
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Line of Business : |
Leather Product Manufacturer and Exporter |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 – December 31st, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
HUNG CHUN ENTERPRISE
COMPANY
ADDRESS
Unit 16, 11/F.,
PHONE: 2409 8215
FAX: 2615 2829
E-MAIL: hungchun@hkstar.com
MANAGEMENT
Manager: Mr. Ng Wa
Kin
SUMMARY
Establishment: 28th December, 1988.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Leather
Product Manufacturer and Exporter.
Employees: 18.
Main Dealing Banker: Bank
of
Banking Relation: Satisfactory.
ADDRESS
Head
Office:-
Unit 16, 11/F., Profit Industrial Building, 1-15 Kwai Fung
Crescent, Kwai Chung, New Territories, Hong Kong.
Hung Chun Leather Goods Factory
[Tel: 769-8399 9000;
Fax: 769-8381 1781]
BUSINESS REGISTRATION NUMBER: 12383456-000-12
MANAGEMENT
Manager: Mr. Ng Wa
Kin
PARTNERS
Name: Mr. NG Wa Kin
Residential Address: Room
1502, 15/F., Sincere House,
Name: Mr. NG Kwong
Kin
Residential Address: Flat
C, 8/F., Ka Wui Building, 7 Fuk Wing Street, Shamshuipo, Kowloon, Hong Kong.
HISTORY
The subject was established on 28th December, 1988 as a sole
proprietorship concern owned by Mr. Ng Wa Kin under the Hong Kong Business
Registration Regulations. On 23rd
January, 1991, Mr. Ng Kwong Kin and Mr. Ng Ming Kin joined in as partners. Since then the subject has become a
partnership concern. However, Mr. Ng
Ming Kin retired on 27th April, 2002.
Now, the subject is just jointly owned by Mr. Ng Wa Kin and Mr. Ng Kwong
Kin.
Initially the subject was located at Flat C, 8/F., Ka Wui
Building, 7 Fuk Wing Street, Shamshuipo, Kowloon, Hong Kong where is Mr. Ng
Kwong Kin’s residence. Moved to Unit 10,
12/F.,
Apart from these, neither material change nor amendment has
been ever traced and noted.
OPERATIONS
Activities: Manufacturer
and Exporter.
Lines: Leather
handbags, wallets and other leather products.
Employees: 18. (
2,000. (
Materials/Commodities Imported:-
Raw materials –
Finished products –
Markets: Europe,
Annual Turnover: Not
reported.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, T/T, etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit & Loss: Traded
at a small profitable angle.
Condition: Keeping in a rather active
state.
Facilities: Making active use of general
banking facilities.
Payment: Regularly met.
Commercial Morality: Satisfactory.
Banker: Bank of
Standing: Small.
GENERAL
Hung Chun Enterprise Company is a partnership concern
jointly owned by Mr. Ng Wa Kin and Mr. Ng Kwong Kin. The two Ngs belong to the same family.
Business formally commenced in January 1989, the subject is
a leather handbags, purses, wallets and other leather goods trader and manufacturer. Its affiliated factory is in
Besides leather, the subject’s raw materials used include PU
and nylon. Most of the products are
manufactured on a private-label basis.
Employing about 2,000 persons, the subject’s factory is able to produce
350,000 to 400,000 units of wallets monthly.
Prime markets are Europe, Asian countries, North America, Central
and
The subject is responsible for marketing products and
supplying its associated factory in
The subject’s business is chiefly handled by the two Mr.
Ngs. One of them is always stationing at
its
The annual sales turnover of the subject is very
significant.
Having a history of over twenty-two years and seven months, on
the whole, the subject is considered good for ordinary business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.20 |
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|
1 |
Rs.73.51 |
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Euro |
1 |
Rs.64.76 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.