MIRA INFORM REPORT

 

 

Report Date :           

30.12.2011

 

IDENTIFICATION DETAILS

 

Name :

WING  KEE  PRODUCE  LTD.

 

 

Registered Office :

G/F., Hong Leong Industrial Complex, 4 Wang Kwong Road, Kowloon Bay, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.02.1969

 

 

Com. Reg. No.:

13110967

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Wholesaler and Supplier of all kinds of fresh fruits and vegetables as well as frozen food products including salmon, grouper, half/whipping/portion cream, milk, coffee products, pasta and olive oil, etc.

 

 

No. of Employees :

450  (Including 85 staff in Hong Kong Head Office)

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

WING  KEE  PRODUCE  LTD.

 

 

Company ADDRESS

 

G/F., Hong Leong Industrial Complex, 4 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong.

 

PHONE:                        2796 3222  (Administration)

2796 3111  (Sales)

3150 8333  (Retail Sales)

 

FAX:                 2796 3666

 

EMAIL:             wkpl@wingkee.com / hrm@wingkee.com

 

 

MANAGEMENT

 

Chairman & Managing Director:  Mr. Leung Tse Wing, Wayne

 

 

SUMMARY

 

Establishment:                          1st February, 1969.  (Sole Proprietorship)

 

Incorporated on:             6th September, 1989.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$501,000.00

Issued:              HK$500,020.00

 

Business Category:        Trading in fresh fruits and vegetables.

 

Group Turnover:             HK$450~480 million.

 

Group Employees:         About 450.  (Including 85 staff in Hong Kong Head Office)

 

Main Dealing Bankers:   Bank of China (Hong Kong) Ltd., Hong Kong.

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

 

Banking Relation:           Good.

Company ADDRESS

 

Registered Head Office & Godown:-

G/F., Hong Leong Industrial Complex, 4 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong.

 

Holding Company:-

Wing Kee Group Holdings Ltd., British Virgin Islands.

 

Subsidiary/Associated Companies:-

·         Deep Sea (Hong Kong) Ltd., Hong Kong.

·         Delicia Ltd., Hong Kong.

·         Gourmand Foods (HK) Ltd., Hong Kong.

·         Queenright Ltd., Hong Kong.

·         Shanghai Delice Food Co. Ltd., China.

·         Wing Kee Development Co. Ltd., Hong Kong.

·         Wing Kee Farm Park & Resort, China.

·         Wing Kee Food (Huidong) Ltd., China.

·         Wing Kee Investment Co. Ltd., Hong Kong.

·         Wing Kee Produce (Macau) Ltd., Macau.

 

 

BUSINESS REGISTRATION NUMBER

 

13110967

 

 

COMPANY FILE NUMBER

 

0262531

 

 

MANAGEMENT

 

Chairman & Managing Director:  Mr. Leung Tse Wing, Wayne

Manager:                                               Mr. Cheung Fung Yee, Aris

 

 

CAPITAL

 

Nominal Share Capital:               HK$501,000.00 (Divided into 100 Ordinary shares and 50,000 Non-voting

Deferred shares of HK$10.00 each)

Issued Share Capital:                 HK$500,020.00

 

SHAREHOLDERS

(As per registry dated 06-09-2011)

 

Name

 

No. of shares

 

 


Ordinary

Non-voting Deferred

Wing Kee Group Holdings Ltd.

Trustnet Chambers, P.O. Box 3444, Road Town, Tortola, British Virgin Islands.

 

1

50,000

LEUNG Tse Wing

 

1

-

 

 

––

––––––

 

Total:

2

=

50,000

=====

 

 

DIRECTORS  

(As per registry dated 06-09-2011)

 

Name

(Nationality)

 

Address

LEUNG Tse Wing

   (Chinese)  [Husband]

Flat A, 5/F., Tower 1, Dynasty Court, 23 Old Peak Road, Hong Kong.

 

WONG Bo Chi

   (Chinese)  [Wife]

Flat A, 5/F., Tower 1, Dynasty Court, 23 Old Peak Road, Hong Kong.

 

CHUNG Siu Ping

   (Chinese)

Flat A, 10/F., Block 4, Cronin Garden, 2 Po On Road, Kowloon, Hong Kong.

 

LEE Man Kee, Mark

Flat RB, 40/F., Tower 6, The Capitol, Lohas Park, Tseung Kwan O, New Territories, Hong Kong.

 

David LEUNG

   (Australian)

Flat A, 5/F., Tower 1, Dynasty Court, 23 Old Peak Road, Hong Kong.

 

LEUNG Sze Wai

Flat C, 7/F., Block 1, Hillsborough Court, 18-22 Old Peak Road, Hong Kong.

 

 

SECRETARY

(As per registry dated 06-09-2011)

 

Name

Address

Co. No.

Wing Kee Development Co. Ltd.

G/F., Hong Leong Industrial Complex, 4 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong.

0148754

HISTORY

 

The subject was originally named Wing Kee (also known as Wing Kee Fruit & Vegetables) which was established on 1st February, 1969 as a sole proprietorship concern owned by Mr. Leung Tse Wing under the Hong Kong Business Registration Regulations.  Converted into a partnership firm when Mr. Cho Shiu Kai joined in on 21st February, 1969.  Re-organized into a sole proprietorship firm of the founder again when Mr. Cho retired on 1st April, 1981.  Subsequently, re-organized and incorporated on 6th September, 1989 as a private limited liability company under the Hong Kong Companies Ordinance.  The subject has changed its Chinese name once.

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

 

 

OPERATIONS

 

Activities:                                  Importer, Wholesaler and Supplier.

 

Lines:                                       All kinds of fresh fruits and vegetables as well as frozen food products including salmon, grouper, half/whipping/portion cream, milk, coffee products, pasta and olive oil, etc.

 

Office & Godown Space:             40,000 sq.ft. – self-owned.

 

Number of Lorries:                      8.

 

Group Employees:                     About 450.  (Including 85 staff in Hong Kong Head Office)

 

Commodities Imported:-

·         “Delverde” pasta and olive oil – Italy.

·         “Emmi” and “Lucerna” half/whipping/portion cream – Switzerland.

·         “Graf Kaffee” coffee products – Switzerland.

·         “NZ Kiwi Fruit Marketing Board” kiwi fruits – New Zealand.

 

Markets:                                   Hong Kong, Macau and China.

 

Group Turnover:             HK$450~480 million.

 

Terms/Sales:                             COD or as per contracted.

 

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

 

MAIN SUPPLIERS

 

·         Calavo

·         Emmi

·         Fresh Gro New Zealand

·         Graf Kaffee

·         Harvest Moon

·         Hortifrut

·         Marine Harvest

·         Oscar

·         Perfecta

·         South Pacific Reef Pty. Ltd.

·         Sun Spiced

·         Sunfresh

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$501,000.00

(Divided into 100 Ordinary shares and 50,000 Non-voting Deferred shares of HK$10.00 each)

 

Issued Share Capital:     HK$500,020.00

 

Indebtedness:                HK$69,000,000.00

(Total amount outstanding on all mortgages and charges as per last Annual Return dated 06-09-2011)

 

Mortgage or Charge:       (See attachment)

 

Profit or Loss:                Business is profitable.

 

Condition:                      Keeping in an active and steady manner.

 

Facilities:                      Making very active use of general banking facilities.

 

Payment:                      So far so good.

 

Commercial Morality:     Good.

 

Bankers:-

·         Bank of China (Hong Kong) Ltd., Hong Kong.

·         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong

·         UCO Bank, Hong Kong Branch.

·         The Bank of East Asia Ltd., Hong Kong.

·         NZ Finance Ltd., Hong Kong.

·         DBS Bank (Hong Kong) Ltd., Hong Kong.

 

Standing:  Good.

 

 

GENERAL

Previously known as Wing Kee (also known as Wing Kee Fruit & Vegetables), the subject was founded in 1969 by Mr. Wayne Leung Tse Wing.  Changed to a private limited company bearing the name of Wing Kee Produce Ltd. which is the present style in 1989.

The subject is a wholly-owned subsidiary of Wing Kee Group Holdings Ltd. which is a BVI-registered firm.  It has just issued 2 ordinary shares of HK$1.00 each which were equally owned by Mr. Leung Tse Wing and Wing Kee Group Holdings Ltd.  Formerly the single share held by Wing Kee Group Holdings Ltd. was held by Ms. Wong Bo Chi.

The subject is a hotel foodstuff supplier and fruit merchant in Hong Kong.  It has been a significant importer and wholesaler of fresh fruits and vegetables as well as frozen foodstuffs.  It is trading in the following main products:-

·         Coffee (From Switzerland)

·         Fish – Fresh (Salmon fish)

·         Milk Powder (Coffee cream from Switzerland)

·         Dairy Products – Miscellaneous (Yoghurt from Switzerland)

·         Fruits (Fresh include kiwi)

·         Vegetables (Fresh from Australia, New Zealand, USA, Japan, Western Europe, Africa)

Main clients are local five-star hotels, wholesalers, cruise ships, supermarkets, restaurants, clubs, airline companies, etc.  Today, the subject has grown into a premier supplier of quality foodstuffs imported from worldwide countries.  Every year, its foreign suppliers ship several thousands 40-ft. containers to Hong Kong by sea.  Now, more and more of the fruits and foodstuffs are shipped by air in order to save time and keep the foodstuffs more fresh.  Its suppliers span over thirty countries.  Prime products carried include dairy products, confectionery, seafood, frozen foodstuffs, coffee, etc.

Owned by the subject, the head office and operation centre is situated in Kowloon Bay.  The 40,000 sq.ft. facility is fully used.  It has got 15 cold warehouses, of which temperatures and humidity are set at different levels in order to store different types of foodstuffs and vegetables.

The subject now has the following main associated companies:-

Wing Kee Farm Park & Resort

The horticultural operations was established in 1997, and was the first farm in China to be ISO 9002 and HACCP accredited.  The showcase farm has since expanded to a resort facility that now includes a restaurant, a hotel, a conference centre, an education centre, a clubhouse, and other leisure and recreational facilities.

Wing Kee Produce (Macau) Ltd.

A subsidiary company established in 2006.  It directly services the hotels, restaurants, and other food service customers in Macau.

Wing Kee Food (Huidong) Ltd.

The subject’s office in China responsible for the purchasing and selling fruits and vegetables in China.  The subject also has got representative offices in Kunming, Guangzhou, Shenzhen, etc.

Delicia Ltd.

Established in 1997 as a supplier of food products, this firm carries convenience foodstuffs; ready-to-eat meals; portion controlled meats, poultry, and seafood; fresh-squeezed juices; sauces and soups; and other premium products.  Delicia operates from a 14,000 sq.ft. production workshop and office in Kwai Chung, New Territories, Hong Kong.

Shanghai Delice Food Co. Ltd.

Based in Shanghai and being a subsidiary company of the subject, this firm was established in 2003.  It is engaged in distributing a range of confectionery and food products to the retail sector in China.

Now, the subject’s products are also marketed in China where the sales networks cover over seventy major cities, and its products are sold in over 1,000 retailing outlets.  The sales are chiefly undertaken by Shanghai Delice Food Co. Ltd.

The Wing Kee Group now has about 450 full-time employees while 85 are in its head office in Hong Kong.  The Group has set up the following main functional departments: Sales Department, Retail Sales Department, Administration & Personnel Department, Purchasing Department, Wholesale Department, Operations Department, and Accounting Department.  It also has got a fleet of trucks for goods delivering.

Long term business ties have been developed with foreign suppliers such as the following firms: Calavo, Emmi, Fresh Gro New Zealand, Graf Kaffee, Harvest Moon, Hortifrut, Marine Harvest, Oscar, Perfecta, South Pacific Reef Pty. Ltd., Sun Spiced, Hachez, Sunfresh, Midor, katope, etc.  It carries the following main products: coffee products (“Graf Kaffee”, Switzerland), half/whipping/portion cream (“Emmi” and “Lucerna”, Switzerland), kiwi fruit (“NZ Kiwi Fruit Marketing Board”, New Zealand), pasta and olive oil (“Delverde”, Italy), etc.  Other suppliers include the followings: Coliman, FREY, Pulmoll, DEAN’S, PROPAL, Wernli, Green Giant, POM, nairns, etc.

The subject’s business in Hong Kong is handled by Mr. Leung Tze Wing who is the Managing Director, while in China, handled by Mr. Mark Lee Man Kee and Mr. David Leung.  The other CEO are Ms. Pauline Leung and Ms. Lucia Chung.

The subject has maintained a large number of regular clients both in Hong Kong, Macau and in Guangdong Province, China.  Business has been good and steady.  The Group has penetrated the Macau market further by setting up a branch company in Macau Wholesaling Market, Macau.  The annual sales turnover of the Group ranges from HK$450 to 480 million.

In 2005, Leung was granted an honorary Doctorate degree by Armstrong University of California, the United States, and was also awarded the World Outstanding Chinese Award.  In the same year, Leung also received the China Business Management and Operations Award from the Central government.  In 2006, he was presented with the nationwide China Business Innovation Award.

The business of the Group still has room to expand further.  In recent years, the Group’s business has been more profitable as the prices of the foodstuffs are surging high.  The Group is one of the significant foodstuff and fruit wholesalers in Hong Kong.

As the subject has a history of over forty-two years in Hong Kong, on the whole, consider it good for normal business engagements.

 

REMARKS:

 

Property information of the company, affiliates and directors:-

1.     Property Location:       Workshop No. 3 & Space (now known as Workshop B) on G/F., Van Parking Spaces V6 & V7 on 1/F. and Flat Roof A adjoining to Workshop 9 on 2/F., Hong Leong Industrial Complex, 4 Wang Kwong Road, Kowloon, Hong Kong.

Owner:     Wing Kee Produce Ltd.

Date of Purchase:  15-04-1997  [Deed of exchange]

Purchased Price:  HK$23,500,000

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

15-04-1997

-

The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

Charge to secure general banking facilities

15-04-1997

-

- ditto -

Second charge to secure general banking facilities

 

2.     Property Location:       Flat 0310, Block H, Building D, Guanlan Haoyuan “Holiday”, Bao’an District, Shenzhen, China.

Owner:     Wing Kee Produce Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

14-11-2002

HK$646,471

Nanyang Commercial Bank Ltd., China.

Mortgage to secure general banking facilities

 

3.     Property Location:       Flat G on 21/F. of Tower 25 (25 Yi Nam Road), South Horizons, Hong Kong.

Owner:     Wing Kee Investment Co. Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

20-12-1996

-

Dao Heng Bank Ltd., Hong Kong.  [Merged into DBS Bank (Hong Kong) Ltd.]

Mortgage to secure general banking facilities

 

4.     Property Location:       Flat E on 7/F. of Block 2, Finery Park, 7 Yuk Nga Lane, Tseung Kwan O, Sai Kung, New Territories, Hong Kong.

Owner:     Queenright Ltd.

Date of Purchase:  10-01-1995

Purchased Price:  HK$2,034,000

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

10-01-1995 (a)

-

The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

Charge to secure general banking facilities

01-12-1995 (b)

-

- ditto -

Second charge

16-06-1998

-

- ditto -

Tripartite legal charge to secure general banking facilities

16-06-1998

-

- ditto -

Assignment of rent

 

5.     Property Location:       Flat E on 6/F. of Block 2, Finery Park, 7 Yuk Nga Lane, Tseung Kwan O, Sai Kung, New Territories, Hong Kong.

Owner:     Queenright Ltd.

Date of Purchase:  10-01-1995

Purchased Price:  HK$2,028,000

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

10-01-1995 (a)

-

The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

Charge to secure general banking facilities

01-12-1995 (b)

-

- ditto -

Second charge

16-06-1998

-

- ditto -

Tripartite legal charge to secure general banking facilities

16-06-1998

-

- ditto -

Assignment of rent

 

6.     Property Location:       Flat E on 5/F. of Block 2, Finery Park, 7 Yuk Nga Lane, Tseung Kwan O, Sai Kung, New Territories, Hong Kong.

Owner:     Queenright Ltd.

Date of Purchase:  10-01-1995

Purchased Price:  HK$2,024,000

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

10-01-1995 (a)

-

The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

Charge to secure general banking facilities

01-12-1995 (b)

-

- ditto -

Second charge

16-06-1998

-

- ditto -

Tripartite legal charge to secure general banking facilities

16-06-1998

-

- ditto -

Assignment of rent

 

7.     Property Location:       Flat E on 4/F. of Block 2, Finery Park, 7 Yuk Nga Lane, Tseung Kwan O, Sai Kung, New Territories, Hong Kong.

Owner:     Queenright Ltd.

Date of Purchase:  10-01-1995

Purchased Price:  HK$2,049,180

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

10-01-1995 (a)

-

The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

Charge to secure general banking facilities

01-12-1995 (b)

-

- ditto -

Second charge

16-06-1998

-

- ditto -

Tripartite legal charge to secure general banking facilities

16-06-1998

-

- ditto -

Assignment of rent

 

Note:    (a)    Under the same mortgage deed dated 10-01-1995.

(b)    Under the same mortgage deed dated 01-12-1995.

 

8.     Property Location:       Shop 1 on G/F., whole 1/F. & Flat Roof on 5/F., Professional Building, 19-23 Tung Lo Wan Road, Hong Kong.

Owner:     Queenright Ltd.

Date of Purchase:  23-01-1985

Purchased Price:  HK$3,400,000

Incumbrances:  No mortgage record registered against the property.

 

9.     Property Location:       Flat B on 15/F. of Tower 5 and Car Parking Space No. 12 on Level LG1, Dynasty Court, 23 Old Peak Road, Hong Kong.

Owner:     Queenright Ltd.

Date of Purchase:  15-04-1997  [Deed of exchange]

Purchased Price:  -

Incumbrances:  No mortgage record registered against the property.

 

10.   Property Location:       Flat B on 3/F. and Car Park No. 6 on G/F., Honour Garden, 11 Consort Rose, Pokfulam, Hong Kong.

Owner:     Leung Tse Wing & Wong Bo Chi

Date of Purchase:  03-11-1977

Purchased Price:  HK$408,000

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

23-05-1989

HK$16,000,000 pt.

The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

Further charge and collateral charge to secure banking facilities

26-11-1990

-

- ditto -

Further charge to secure banking facilities

01-12-1995

-

- ditto -

Second charge to secure general banking facilities

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

26-05-1990

Instrument:      General Letter of Hypothecation

Property:

All property, goods, merchandise, shares, stocks, documents of title and securities for property or money

Mortgagee:      The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

To secure the repayment to the Bank of all moneys

25-11-1991

Instrument:      Charge on Deposit

Property:

Deposit of JPY19,000,000
Receipt No. 03139255727932

Mortgagee:      Sin Hua Bank Ltd., Hong Kong Branch.
[Merged into Bank of China (Hong Kong) Ltd.]

To secure all monies and liabilities

12-05-1994

Instrument:      General Letter of Hypothecation

Property:

All property, goods, merchandise, shares, stocks, documents of title and securities for property or money

Mortgagee:      The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

To secure the repayment to the Bank of all moneys

15-04-1997

Instrument:      Charge

Property:

1,337/9,560th parts or shares of and in New Kowloon Inland Lot No. 5870 [(1) Workshop No. 3 and Space (now known as Workshop B) on G/F.(2) Van Parking Spaces Nos. V6 and V7 on 1/F. and (3) Flat Roof A adjoining to Workshop 9 on 2/F. of Hong Leong Industrial Complex, 4 Wang Kwong Road, Kowloon, Hong Kong.]

Mortgagee:      The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

To secure general banking facilities

15-04-1997

Instrument:      Second Charge

Property:

1,337/9,560th parts or shares of and in New Kowloon Inland Lot No. 5870 [(1) Workshop No. 3 and Space (now known as Workshop B) on G/F. (2) Van Parking Spaces Nos. V6 and V7 on 1/F. and (3) Flat Roof A adjoining to Workshop 9 on 2/F. of Hong Leong Industrial Complex, 4 Wang Kwong Road, Kowloon, Hong Kong.]

Mortgagee:      The Kwangtung Provincial Bank, Hong Kong Branch.  [Merged into Bank of China (Hong Kong) Ltd.]

To secure general banking facilities

14-11-2002

Instrument:      Contract of Property Mortgage

Property:

Flat 0310, Block H, Building D, Guanlan Haoyuan “Holiday”, Bao’an District, Shenzhen, China.

Mortgagee:      Nanyang Commercial Bank Ltd., Flat C, Nanyang Building, 2002 Jianshe Road, Shenzhen, China.

HK$646,471

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.36

UK Pound

1

Rs.82.51

Euro

1

Rs.68.99

 

 

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.