MIRA INFORM REPORT

 

 

Report Date :           

13.07.2011

 

IDENTIFICATION DETAILS

 

Name :

CALCO  INDUSTRIAL  PRODUCTS  LTD.

 

 

Registered Office :

Unit B, 7/F., Yiko Industrial Building, 10 Ka Yip Street, Chai Wan

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.05.1990

 

 

Com. Reg. No.:

13746435

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of Garbage bin, containers, 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

 

 Bottom of Form

 

Company name

 

CALCO  INDUSTRIAL  PRODUCTS  LTD.

 

 

Company ADDRESS

 

Unit B, 7/F., Yiko Industrial Building, 10 Ka Yip Street, Chai Wan, Hong Kong.

PHONE:            2805 5623

FAX:                 2805 5616

E-MAIL:            enquiries@calco-hk.com.hk       

 

MANAGEMENT

 

Managing Director:  Mr. Li Man Wah, Alfie

 

 

SUMMARY

 

Incorporated on:             1st May, 1990.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$1,000,000.00

Issued:              HK$1,000,000.00

 

Business Category:        Importer and Exporter.

 

Employees:                   8.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Unit B, 7/F., Yiko Industrial Building, 10 Ka Yip Street, Chai Wan, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

13746435

 

 

COMPANY FILE NUMBER

 

0277370

 

 

MANAGEMENT

 

Managing Director:  Mr. Li Man Wah, Alfie

 

 

CAPITAL

 

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1,000,000.00

 

 

SHAREHOLDERS

(As per registry dated 01-05-2011)

 

Name

 

No. of shares

LI Man Wah, Alfie

 

999,900

WONG Fai Ngan, Colleen

 

100

 

 

––––––––

 

Total:

1,000,000

=======

 

 

DIRECTORS

(As per registry dated 01-05-2011)

 

Name

(Nationality)

 

Address

LI Man Wah, Alfie

Flat G, 41/F., Block 4, The Pinnacle, 8 Wan Hang Road, Tseung Kwan O, Kowloon, Hong Kong.

 

WONG Fai Ngan, Colleen

Flat G, 41/F., Block 4, The Pinnacle, 8 Wan Hang Road, Tseung Kwan O, Kowloon, Hong Kong.

 

 

SECRETARY 

 

LI Man Wah, Alfie  (As per registry dated 01-05-2011)

 

 

HISTORY

 

The subject was incorporated on 1st May, 1990 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Brave Keen Ltd., name changed to Alco (China) Ltd. on 21st November, 1996, and further to the present style on 7th May, 1997.

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

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           Garbage bin, containers, etc.

 

Employees:                   8.

           

Commodities Imported:   Europe, etc.

 

Markets:                       Hong Kong, China, other Asian countries, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

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

GOVERNMENT CONTRACTS AWARDED SINCE 1990:

Date

GN No.

Particulars

Amount

26-06-1998

GN3146

Supply of 240-litre plastic rectangular refuse containers from the date of acceptance to fulfilment of contractual obligations [Tender Ref.: RCQ 2203/97(B)]

HK$835,968
(Lowest Offer)

28-05-2010

GN3174

Supply of 660-litre plastic rectangular containers for refuse collection [Tender Ref.: HAQ20100006]

HK$3,568,500

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1,000,000.00

 

Mortgage or Charge:-

Date of  Mortgage:  13-02-2006

Amount:                        To secure all sums

Property:                       11/962nd parts or shares of and in Chai Wan Inland Lot No. 126 (Workshop B on 7/F. of Yiko Industrial Building, 10 Ka Yip Street, Hong Kong.)

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

 

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 on time.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Normal.

 

 

GENERAL

 

Having issued 1 million ordinary shares of HK$1.00 each, Calco Industrial Products Ltd. is jointly owned by Mr. Li Man Wah, Alfie, holding 99.99% interests; and Ms. Wong Fai Ngan, Colleen, holding 0.01%.  Seemed to be a couple, Li and Wong are also directors of the subject.

The subject trades in the following commodities:-

·         Garbage Bins – Metal

·         Garbage Bins – Plastic (includes mobile garbage bin, recycle bin, street bin, indoor bin, etc.)

·         Containers – Plastic (industrial use for material handling)

·         Security Seals

·         Rubber Sheets

·         Rabo Tricycles

Products are marketed in Hong Kong, China and exported to the other Asian countries, Eastern Europe, Scandinavia, Western Europe, etc.  Overall business is satisfactory.

Founded in 1990, the subject started trading in rubber sheets for various industries.  In the mid 1990s, its became more diversified and expanded more product ranges.  In early 2000, it set up two liaison offices in Shanghai and Shenzhen Special Economic Zone respectively in order to crop with its market strategy and product development.

The subject carries the following brand names: “RABO”, “ZENITH”, “STRAIL”, “ABRIC”, etc.  Its business is chiefly handled by the two shareholders.

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

                              

REMARKS:

 

Court Cases:           None per our.

 

Property information of the company:-

Property Location:                   Workshop B on 7/F., Yiko Industrial Building, 10 Ka Yip Street, Hong Kong.

Owner:  Calco Industrial Products Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

13-02-2006

-

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

Mortgage to secure general banking facilities

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.69

UK Pound

1

Rs.70.87

Euro

1

Rs.62.26

 

 

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.