MIRA INFORM REPORT

 

 

Report Date :           

16.08.2011

 

IDENTIFICATION DETAILS

 

Name :

YICK  TAT  TRADING  COMPANY 

 

 

Registered Office :

Flat C, 10/F., Civic Commercial Building, 165-167 Woosung Street, Jordan, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

29.06.1987

 

 

Com. Reg. No.:

11121744-000-06

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of Piecegoods, frozen meat, seafood, 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 :

No Complaints

 

 

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

 

Company name  

 

YICK  TAT  TRADING  COMPANY

 

 

Company name ADDRESS

 

Flat C, 10/F., Civic Commercial Building, 165-167 Woosung Street, Jordan, Kowloon, Hong Kong.

PHONE:            2735 0172,  2735 3672

FAX:                 2735 3099

 

 

MANAGEMENT

 

Manager:  Mr. Sit Hok Chi

 

 

SUMMARY

 

Establishment:                          29th June, 1987.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   5.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

COMPANY ADDRESS

 

Head Office:-

Flat C, 10/F., Civic Commercial Building, 165-167 Woosung Street, Jordan, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

11121744-000-06

 

 

MANAGEMENT

 

Manager:  Mr. Sit Hok Chi

 

 

SOLE PROPRIETOR

 

Name:                           Mr. SIT Hok Chi

Residential Address:      Room 2, 21/F., Tin Fai House, 45 Yue Kwong Road, Aberdeen, Hong Kong.

 

 

HISTORY

 

The subject was established on 29th June, 1987 as a sole proprietorship concern owned by Mr. Sit Hok Chi under the Hong Kong Business Registration Regulations.

Initially the subject was located at Room 2, 21/F., Tin Fai House, 45 Yue Kwong Road, Aberdeen, Hong Kong, moved to Room 507A, 5/F., Kai Tak Commercial Building, 317-321 Des Voeux Road Central, Hong Kong in December 1987, and further moved to the present address in September 1989.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Piecegoods, frozen meat, seafood, etc.

 

Employees:                   5.

 

Commodities Imported:   China, India, Europe, US, etc.

 

Markets:                       China, Southeast Asia, North America, Western Europe, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, D/P, O/A, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:  Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Normal.

 

 

GENERAL

 

Yick Tat Trading Company is a sole proprietorship set up and owned by Mr. Sit Hok Chi who is a Hong Kong merchant.  The subject commenced business in June 1987.

The subject is trading in the following commodities:-

·         Piecegoods – Vegetable Fibre (From China)

·         Piecegoods – Blended (T/C from China)

·         Piecegoods – Synthetic (From China)

·         Tea and Teabag (Chinese tea from China)

·         Meat – Frozen (Include frozen rabbit meat from America and Europe)

·         Seafood – Frozen (Include snails from American and Europe)

The subject re-exports its commodities to China, Southeast Asia, North America, Western Europe, etc.  Business is rather active.  Regular suppliers and overseas customers have been maintained.  The business of the subject is chiefly handled by Sit himself.

As the history of the subject is over twenty-four years in Hong Kong, on the whole, consider it good for normal business engagements.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.53

Euro

1

Rs.64.37

 

 

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.