MIRA INFORM
REPORT
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Report Date : |
12.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
UNICON
LTD. |
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Registered Office : |
G/F.,
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Country : |
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Date of Incorporation : |
25.08.2005 |
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Com. Reg. No.: |
36091281 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Wholesaler and Re-exporter of all kinds of machinery and equipment for construction, wine, 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 : |
No Complaints |
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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
UNICON LTD.
company ADDRESS
G/F.,
PHONE: 2186 6930
FAX: 2186 6931
E-MAIL: cissychan@unicon.hk
MANAGEMENT
Managing Director: Mr. Chiu Kin Hung
SUMMARY
Incorporated on: 25th August, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Importer, Wholesaler and Re-exporter.
Employees: 4.
Main Dealing Banker: DBS Bank (Hong Kong) Ltd.,
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office & Shop:-
G/F.,
Warehouse:-
Hung Shui Kiu, Yuen Long, New Territories,
[Tel: 2617 1612, 1617 1613]
Affiliated/Associated
Companies:-
Realtech Ltd.,
Yufeng (
BUSINESS REGISTRATION NUMBER
36091281
COMPANY FILE NUMBER
0992037
MANAGEMENT
Managing Director: Mr. Chiu Kin Hung
Contact Person: Ms. Shirley Cheung
CAPITAL
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
SHAREHOLDERS
(As per registry dated 25-08-2010)
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Name |
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No. of shares |
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CHIU Kin Hung |
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2,500,000 |
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2,500,000 |
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–––––––– |
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Total: |
5,000,000 ======= |
DIRECTORS
(As per registry dated 25-08-2010)
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Name (Nationality) |
Address |
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CHIU Kin Hung |
Flat E, 6/F., Block 3,
Prosperous Garden, |
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Flat B, 6/F., Block 4, Hong Wang Court, Healthy Village, Phase I & II, 192 Tsat Tsz Mui Road, Hong Kong. |
SECRETARY
(As per registry dated 25-08-2010)
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Name |
Address |
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Treasure Current Ltd. |
Room 1201, 12/F., Ka Wah Bank Centre, |
0307612 |
HISTORY
The subject was incorporated on 25th August, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly
the subject was located at Room 1601-1602, 16/F.,
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Wholesaler and Re-exporter.
Lines: All kinds of machinery and equipment for construction, wine, etc.
Employees: 4.
Commodities Imported:
Markets:
Central and South
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
Alternation of Capital:-
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25-08-2005 |
paid up |
HK$ 2.00 |
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23-09-2009 |
paid up |
HK$ 4,999,998.00 |
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––––––––––––––– |
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Total: |
paid up |
HK$ 5,000,000.00 ============== |
Increase of Nominal Capital:-
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From |
HK$10,000.00 |
to |
HK$5,000,000.00 |
on |
23-09-2009 |
Mortgage or Charge:-
Date of Charge on Cash Deposit to secure Liabilities of the Depositor: 20-08-2008
Amount: All sums of money and liabilities
Property: 1) By way of first fixed charge and agreement to charge: the Deposit and all right, title and
interest of the Company
2) By way of set-off: any sum standing to the credit of any one or more of the accounts of the Company with the Bank
Mortgagee: DBS Bank
(Hong Kong) Ltd.,
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Bankers:-
·
DBS Bank (Hong Kong) Ltd.,
·
Hang Seng Bank Ltd.,
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Bank of
·
Wing Hang Bank Ltd.,
Standing: Small.
GENERAL
Incorporated in August 2005, Unicon Ltd. was equally held by Mr. Chiu Kin Hung and Gold Regal Development Ltd., a Hong Kong-based firm. The subject had just issued 2 ordinary shares of HK$1.00 each while the holding company and Mr. Chiu held one share respectively. Now, its ordinary shares have been increased to 5 million of HK$1.00 each and equally owned by Mr. Chiu Kin Hung and Mr. Chu Chi Chung. They are also directors of the subject.
The
subject is trading in all kinds of machinery and equipment for building and construction. It is specialized in mobile cranes. The subject has set up a warehouse in Hung
Shui Kiu, Yuen Long,
The subject is a Registered Subcontractor of the Construction Industry Council under the Voluntary Subcontractor Registration Scheme. Its registration No. is R004717 and it was re-registered on 22nd September, 2010 and the expiry date is 21st September, 2012.
The
subject also trades in wines. It imports
port, red wine, rum, etc. from
The subject’s operating office is also a retailing outlet of wines. Customers are local supermarkets, hotels, restaurants and wine retailers.
One
of the subject’s directors Mr. Chu Chi Chung is also a director and shareholder
of Realtech Ltd. [Realtech] which is a Hong Kong-registered firm. Incorporated in March 1996, Realtech is
engaged in building and construction machinery leasing. Most of the construction machinery and
equipment are imported from
Realtech
has got the following suppliers: DYNAPAC, CMV Group, Technidrill DGA, Atlas
Copco, Slope Stabilzation, etc.
Realtech’s main clients are local construction companies and engineering
project contractors. It also re-exports
some of the machinery to
In
the machinery and equipment sector, the subject and Realtech are engaged in the
same lines of business, more or less.
The subject and Realtech have got an affiliated company in
The
history of the subject in
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.32 |
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1 |
Rs.70.54 |
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Euro |
1 |
Rs.58.70 |
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.