MIRA INFORM
REPORT
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Report Date : |
19.02.2011 |
IDENTIFICATION DETAILS
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Name : |
UNION BUSINESS MACHINES CO. LTD. |
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Registered Office : |
Unit 2, 4 &
6, 2/F., Block A, Hong Kong Industrial Centre, 489-491 Castle Peak Road, Lai Chi
Kok, Kowloon |
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Country : |
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Date of Incorporation : |
22.03.1985 |
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Com. Reg. No.: |
09582623 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer, Importer, Exporter and Wholesaler of Time-recorder, Time
Stamp, Car-Park Time Recorder, Watchman Clock Etc. |
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 : |
Regular |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
UNION BUSINESS MACHINES CO. LTD.
Company ADDRESS
Unit 2, 4 & 6, 2/F., Block A, Hong Kong Industrial Centre, 489-491 Castle Peak Road, Lai Chi Kok, Kowloon, Hong Kong.
PHONE: 2745 1342, 2785 5959
FAX: 2310 2699, 2785 0396
E-MAIL: sales@union-business.com
MANAGEMENT
Managing
Director: Mr. Ng Wai Kin
SUMMARY
Establishment : 1976.
Incorporated on : 22nd
March, 1985.
Organization : Private Limited Company.
Capital Nominal : HK$1,500,000.00
Issued : HK$1,500,000.00
Business Category :
Manufacturer, Importer, Exporter and Wholesaler.
Annual Turnover : HK$100~110
million.
Employees : 500.
(Including workers in
Main Dealing Banker: DBS Bank (Hong Kong)
Ltd.,
Banking Relation : Satisfactory.
Company ADDRESS
Registered Head Office &
Workshop:-
Unit 2, 4 & 6, 2/F., Block A, Hong Kong
Industrial Centre,
489-491 Castle Peak Road, Lai Chi Kok, Kowloon, Hong Kong.
Ganzhou,
Shenzhen Factory
Shenzhen
Union Tianmei Technology Co. Ltd.
Room 302, Block 1, Zhu Guang Innovative
Tel: 86-755-8387
4291, 8387 4770
Fax: 86-755-8344
0607, 8387 4677
E-mail: timmy@nideka.com.cn
Dongguan Factory
Dongguan
Union Tianmei Business Machines Co. Ltd.
Industrial Zone IV,
Tel: 86-769-8556
1311
Fax: 86-769-8556
2784
E-mail: dgtimmy@126.com
Trading as
Union System
Engineering,
Related Company
Jobkeep
Co. Ltd.,
BUSINESS REGISTRATION NUMBER
09582623
COMPANY FILE NUMBER
0148735
MANAGEMENT
Managing
Director: Mr. Ng Wai Kin
CAPITAL
Nominal Share
Capital: HK$1,500,000.00 (Divided into 1,500,000 shares of HK$1.00 each)
Issued Share Capital:
HK$1,500,000.00
SHAREHOLDERS
(As per registry dated 22-03-2010)
|
Name |
|
No.
of shares |
|
NG
Wai Kin |
|
1,499,899 |
|
NG Tak Chuen |
|
101 |
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|
|
–––––––– |
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Total: |
1,500,000 ======= |
DIRECTORS
(As per registry dated 22-03-2010)
|
Name (Nationality) |
Address |
|
NG Wai Kin |
Unit 2, 2/F., Block A, Hong Kong
Industrial Centre, |
|
NG Tak Chuen |
Flat B, 15/F., Tower B, |
SECRETARY
NG Tak Chuen (As per registry dated 22-03-2010)
HISTORY
The
subject was established in 1976 and incorporated on 22nd March, 1985 as a private
limited liability company under the Hong Kong Companies Ordinance.
Formerly
the subject was located at Unit 12 & 13, 7/F., Block B, Hong Kong
Industrial Centre, 489-491 Castle Peak Road, Lai Chi Kok, Kowloon,
Hong Kong, moved to Unit 2, 4 & 6, 2/F., Block A of the same building
in April 1992.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities :Manufacturer, Importer,
Exporter and Wholesaler.
Lines :Time-recorder, time stamp,
car-park time recorder, watchman clock, strapping machine, shreddering machine,
card rack, time-card, parts for time recorder and cash register.
Brand Names: ACROPRINT, LUCKS, MIEKO, NIDEKA, TIME-POWER, TIMMY, WIDMER, etc.
Sole
Agent of:- “Nideka” micro
computer time recorder.
“Widmer”
electronic time stamp, watchman clock, automatic strapping machine.
Office/Workshop
Space: 10,610 sq.ft. – owned.
Employees :500. (Including workers in
Raw Materials :Imported from
Markets :
Annual Turnover :HK$100~110 million.
Terms/Sales : COD or as per contracted.
Terms/Buying : As per contracted.
FINANCIAL INFORMATION
Nominal Share Capital:
HK$1,500,000.00 (Divided into 1,500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,500,000.00
Alternation
of Capital:-
|
Initially |
paid up |
HK$ 10,102.00 |
|
01-04-1999 |
paid up |
HK$ 1,489,898.00 |
|
|
|
––––––––––––––– |
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Total: |
paid up |
HK$ 1,500,000.00 ============== |
Increase
of Nominal Capital:-
|
From |
HK$500,000.00 |
to |
HK$1,500,000.00 |
on |
01-04-1999 |
Mortgage or Charge
(since 2001) : (See attachment)
Profit or Loss : Traded at
a profitable angle.
Condition : Keeping in an active and satisfactory
manner.
Facilities : Making active use of general banking
facilities.
Payment: So far so good.
Commercial
Morality : Satisfactory.
Bankers:- DBS
Bank (Hong Kong) Ltd.,
Standard
Chartered Bank (Hong Kong) Ltd.,
Industrial
& Commercial Bank of
The
Hongkong & Shanghai Banking Corp. Ltd.,
Dah
Sing Bank Ltd.,
Standing :
GENERAL
Union
Business Machines Co. Ltd. is almost wholly-owned by Mr. Ng Wai Kin who is the
Managing Director. The subject is an
experienced manufacturer of NIDEKA fingerprint/RFID/punch card time and
attendance recorders, door access controllers, security guard patrol system,
paper shredders, time stamp, etc.
According
to the subject, it has achieved over 90% of the local market share in the 80’s
and climbed continuously to attain the leading position in the industry. Meanwhile, the subject’s products have been
exported to worldwide countries and its sales network covers most of the
regions of the world. The subject has
over 10 branch offices spreading from Shenzhen Special Economic Zone to
The
subject is the manufacturer, exporter and trader of specialized types of office
equipment and supplies. With heritable,
advanced technology from
The
main office in
Currently,
the subject has had two factories in
The
subject’s significant products are time recorders. “Nideka” was originally invented by
the Japanese. The very first model was
the “Nideka” model 500, which was invented in 1936. In 1935, Model MD-2, a fully automatic
electronic time recorder was launched.
In 1964, a new break‑through in this technological realm was made
when the Model NE-7, a fully automatic time recorder with built-in batteries
for power-backup, was developed.
The
subject took over the Japanese technology and production know-how in the
1980’s. Since then, the subject has
developed its own brand name “LUCKS” and “TIME-POWER”. In 2009, the subject got ISO 9001:2008
certification.
On the whole,
consider the subject good for normal business engagements.
REMARKS
Court
case record:-
|
Date |
Plaintiff |
Defendant |
Cause |
Amount |
|
Mar. 1995 |
Chung Yiu Keung |
Union Business Machines Co. Ltd. |
Amount due |
HK$216,927 |
Property
information of the company:-
1. Property
Location :Workshop A2, A4 &
A6 on 2/F. of Block A,
Hong Kong Industrial Centre, 489-491 Castle Peak Road, Kowloon, Hong Kong.
Owner :
Union Business Machines Co. Ltd.
Date of Purchase :
04-12-1991
Purchased Price :
HK$13,500,000
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
04-12-1991 |
- |
The Daiwa Bank Ltd., Hong Kong Branch. |
Mortgage to secure general banking facilities |
2. Property
Location : Workshop A3 on 2/F.
of Block A, Hong Kong Industrial Centre, 489-491 Castle Peak Road, Kowloon,
Hong Kong.
Owner :
Union Business Machines Co. Ltd.
Date of Purchase : 24-03-1992
Purchased Price : HK$2,583,900
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
14-08-1992 |
- |
Dah Sing Bank Ltd., |
Mortgage to secure general banking facilities |
3. Property Location : Workshop 3 on G/F., Trust Centre, 912-914 Cheung Sha Wan
Road,
Owner : Union Business
Machines Co. Ltd.
Date of Purchase :
n.a.
Purchased Price :
n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
31-01-1994 |
- |
Dah Sing Bank Ltd., |
Mortgage to secure general banking facilities |
4. Property
Location : Flat A on G/F. including
Garden of Block 48 and Car Park No. 125 on
Level 1, Southern Carpark,
Owner :
Union Business Machines Co. Ltd.
Date of Purchase : n.a.
Purchased Price : n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
23-01-1989 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., |
Mortgage to secure general banking facilities |
5. Property
Location :House 1 including Garage,
Flat Roof, Garden & Roof,
Owner :
Union Business Machines Co. Ltd.
Date of Purchase : n.a.
Purchased Price : n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
14-12-2007 |
- |
DBS Bank (Hong Kong) Ltd., |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
(Since 2001)
|
Date |
Particulars |
Amount |
|
14-12-2007 |
Instrument: Mortgage Property: 52/7,700th parts or shares of and in Tai
Po Town Lot No. 72 (House 1 including Garage, Flat Roof, Garden & Roof of
Savanna Garden, 4283 Tai Po Road, Tai Po Kau, Tai Po, New Territories,
Hong Kong.) Mortgagee: DBS
Bank (Hong Kong) Ltd., |
To secure all monies in respect of general banking facilities |
|
10-09-2009 |
Instrument: Charge
Over Deposits – CD 1 (09a) Property: 1) By fixed Charge: all the Company’s rights in respect of (i) the
sum deposited by the Company; 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., |
To secure the payment or discharge of all moneys, obligations and
liabilities, whether actual or contingent at the date of the Charge or at any
time after the date thereof, due, owing or incurred by the Company to
Standard Chartered Bank ( |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.18 |
|
|
1 |
Rs.73.04 |
|
Euro |
1 |
Rs.61.43 |
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 Company |
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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.