MIRA INFORM
REPORT
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Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
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Name : |
ASSOCIATED STATIONERY CO. LTD. |
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Registered Office : |
Unit B8, 10/F., Po Yip Building, 62-70 Texaco Road, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.09.1988 |
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Com. Reg. No.: |
12426050 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of stationery |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
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
ASSOCIATED STATIONERY CO.
LTD.
Company ADDRESS
Unit B8, 10/F., Po Yip Building, 62-70 Texaco Road, Tsuen Wan, New Territories, Hong Kong.
PHONE: 2413 0109
FAX: 2413 2363
E-MAIL: associat@netvigator.com
MANAGEMENT
Managing Director: Mr. Lee Kwok Hing, Tommy
SUMMARY
Incorporated on: 13th September, 1988.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$110~130 million.
Employees: 17. (Including associate)
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Unit B8, 10/F., Po Yip Building, 62-70 Texaco Road, Tsuen Wan, New Territories, Hong Kong.
China Factory:-
Shenzhen Baoliangfeng Package Industrial Ltd., China.
Associated Company:-
Bond Guide Development Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
12426050
COMPANY FILE NUMBER
0226759
MANAGEMENT
Managing Director: Mr. Lee Kwok Hing, Tommy
CAPITAL
Nominal Share Capital: HK$500,000.00 (Divided into 5,000 shares of HK$100.00 each)
Issued Share Capital: HK$500,000.00
SHAREHOLDER
(As per registry
dated 13-09-2010)
|
Name |
Occupation |
No. of shares |
|
LEE Kwok Hing, Tommy |
Merchant |
5,000 ==== |
DIRECTOR
(As per registry
dated 13-09-2010)
|
Name (Nationality) |
Address |
|
LEE Kwok Hing, Tommy |
Flat F, 37/F., Block 5, Discovery Park, 398 Castle Peak Road, Tsuen Wan, New Territories, Hong Kong. |
SECRETARY
(As per registry
dated 13-09-2010)
|
Name |
Address |
Co.
No. |
|
Wisbon Ltd. |
Room A, 19/F., Wing Hing Commercial Building, |
0392509 |
HISTORY
The subject was incorporated on 13th September, 1988 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Shop 1, G/F., Wing Hing Industrial Building, 83-93 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong, moved to the present address in June 2005.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of stationery.
Employees: 17. (Including associate)
Materials/Commodities: Imports raw materials from European countries, some Asian countries and finished
products from China.
Markets: Southeast Asia, Europe, Middle East, North and South America, Africa, etc.
Annual Turnover: HK$110~130 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
GOVERNMENT CONTRACTS AWARDED SINCE 1990:
|
Date |
GN
No. |
Particulars |
Amount |
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25-01-2008 |
GN561 |
Supply of adhesive tapes and dispensers |
HK$1,340,150 |
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27-11-2009 |
GN7477 |
Supply of adhesive tapes and dispensers |
HK$1,662,500 |
FINANCIAL INFORMATION
Nominal Share Capital: HK$500,000.00 (Divided into 5,000 shares of HK$100.00 each)
Issued Share Capital: HK$500,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
· Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
· Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
GENERAL
Associated Stationery Co. Ltd. is wholly-owned by Mr. Tommy Lee Kwok Hing who is a Hong Kong merchant. He is also the only director of the subject.
The subject’s predecessor was established in 1976. It has been engaged in exporting, retailing and wholesaling business since then. It is trading in packing materials and stationery.
The subject has had an associated company Bond Guide Development Ltd. [Bond Guide] which is also owned by Tommy Lee Kwok Hing. Incorporated on 13th October, 1989, Bond Guide is engaged in the same lines of business as the subject, more or less.
The subject has set up a factory in Shenzhen Special Economic Zone, China. Formally known as Shenzhen Baoliangfeng Package Industrial Ltd., the China factory, established in 1993, is specialized in adhesive tapes manufacturing. Covering an area of about 10,000 sq.m., the China factory has been equipped with two fabric coating machines and ten strip cutting machines which were imported from Taiwan.
Now, the subject is a leading company engaged in adhesive tapes manufacturing. Its main products are:-
· Double-sized tapes
· Double-sized foam tapes
· Masking tapes
· OPP tapes
· Pallet stretch film
· PVC insulation tapes
· Siliconcised kraft tapes
With an annual production capacity of over 80,000 sq.m. of adhesive tapes, the subject’s sales volume of 1998 reached over HK$50 million. The total number of customer is over 1,000 for the local market (including in China) and around 200 from all over the world. The major markets include Japan, Europe, the Middle East, South America, North America and Africa.
The subject has got the ISO 9001 of UKAS under the assistance of MOODY International Certification Ltd.
The annual sales turnover of the subject ranges from HK$110 to 130 million. Making a small profit every year.
The history of the subject in Hong Kong is about twenty three years.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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29-12-2006 |
Instrument: Charge Over Deposits – CD 1 (06) Property: 1) By fixed Charge: all the Company’s rights in respect of the following: (i) Time deposit of HK$1,000,000 and (ii) all other sums in any currency from time to time standing to the credit of the Company or the credit of any other person for the Company’s benefit, whether alone or jointly with others, on any deposit account with the Bank or any other SCB Group Company including additions to or renewals or replacements of such sum, and all interest from time to time accruing or payable on the sums specified in (i) and (ii) above; 2) By assignment: all Deposits held with any SCB Group Company Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong Branch as trustee for itself and each SCB Group Company. |
To secure the payment or discharge of all moneys, obligations and liabilities |
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29-03-2011 |
Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing security for the Obligations, the Company charges and assigns absolutely all its rights, title to and interest in the Accounts and all Deposits from time to time in the Accounts and/or comprising the Accounts maintained with Citibank N.A., Hong Kong Branch and/or Citibank (Hong Kong) Ltd. Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.37 |
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UK Pound |
1 |
Rs.73.53 |
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Euro |
1 |
Rs.64.37 |
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.