MIRA INFORM REPORT

 

 

Report Date :           

21.06.2011

 

IDENTIFICATION DETAILS

 

Name :

H&N FOODS INTERNATIONAL, INC.

 

 

Registered Office :

5580 S Alameda Street Vernon, CA 90058-3426

 

 

Country :

United States 

 

 

Date of Incorporation :

28.03.1983

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Importer, Wholesaler, Processor of seafood product

 

 

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 :

Usually Correct 

 

 

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)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GEOPOLITICS- UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of GovernmentGOVERNMENT

Federal

Currency

USD

Economic Risk

Nil

Branch Situation

Stable

 

 

IDENTIFICATION

 

Ordered as:

H & N Foods International

Address in the order:

5580 S Alameda Street Vernon CA 90058

Legal Name:

H&N FOODS INTERNATIONAL, INC.

Trade Name:

H&N FOODS

Legal Address:

5580 S Alameda Street Vernon, CA 90058-3426, USA

Telephone:

+ 1 (323) 586-9388

Document Number:

C1176154

Fax:

+ 1 (323) 586-9333

Legal Form:

Corporation for Profit

Email:

NA

Registerd In:

California

Website:

Hnfoods.com

Date Created:

NA

Manager:

Hua T Ngo, President

Date Incorporated

Mach 28, 1983

Staff:

170 employees

Stock:

NA

 

 

Value:

NA

Activity:

Importer, wholesaler, processor of seafood products

 

 

BANKS

 

Name of the Bank

WELLS FARGO BANK

 

 

 

 

BUSINESS

 

 

HISTORY:

 

The company was founded by Hua Ngo in 1981.

He has remained actively involved in the day-to-day operations of H&N Foods International.

PRINCIPAL ACTIVITY:

 

Through its founder, the company built relations with seafood producers around the world.


Partnerships in North America, Central America, South America, the Pacific Rim, Europe and Australia have enabled H&N Foods to supply and wholesale one of the industry’s most extensive and diverse lines of fresh fish, live fish and frozen seafood as well as 5 distinct packaged brands.

The structure has four HACCP-qualified locations on the West Coast and investments in global logistics and new technology.


H&N Foods International, Inc. operates as an importer, wholesaler, distributor, and processor of seafood products in the United States.

It supplies fresh fish, live fish, and frozen seafood, as well as packaged products. The company’s products also include mussels, squid, and shrimp products; and fillets, crustaceans, cephalopods, and chunk fish.

H&N Foods International, Inc. was formerly known as H&N Fish Co. The company was founded in 1981 and is based in Vernon, California. It has an office/warehouse in San Francisco, California.

 

Sales are:

Wholesale

 

Operations area:

National,InterNational,

 

Trade References :

We were not able to confirm the trade references with the staff.

 

Payments :

regular

 

 

 

Shareholders - Manager - Related Companies

 

 

Shareholders Parent Company(ies):

 

Hua T Ngo is believed to be the company's main shareholder.

Management:

 

Hua T Ngo
President
Kenneth Schiller
Controller
Christine Ngo
Executive Vice President
Bobby Ngo
Vice President
Dat Trieu
Vice President

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

 

 

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data.

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

USD

2010

Turnover

25,000,000-75,000,000

legal fillings



There are no UCC** files listed with the Secretary of State of California.


1.
Filing Number: 107246488323
Filing Date: 09-30-2010
Filing Jurisdiction: CALIFORNIA
Filing History: Filing Type Filing Date



--------------------------------------------------------------------------------

Secured Party: WELLS FARGO BANK, N.A.
Secured Party Address: 300 TRI STATE INTL STE 400
LINCOLNSHIRE IL 60069- 4417

--------------------------------------------------------------------------------

Debtor: H & N FOODS INTERNATIONAL, INC.
Debtor Address: 5580 S ALAMEDA ST
VERNON CA 90058- 3426

--------------------------------------------------------------------------------

Collateral Description: 09/30/2010 107246488323 - THE EQUIPMENT DESCRIBED BELOW AND ALL EQUIPMENT PARTS, ACCESSORIES, INTEREST UNDER THE UNIFORM COMMERCIAL CODE. 6 - CROWN END CONTROLLED PALLET TRUCKS PE4500-60 S/N-S 6A280321,6A280320,6A280319, 6A280318,6A280317,6A280316 W/6 BATTERIES. SUBSTITUTIONS, ADDITIONS, ACCESSIONS AND REPLACEMENTS THERETO AND THEREOF, NOW OR HEREAFTER INSTALLED IN, AFFIXED TO, OR USED IN CONJUNCTION THEREWITH AND THE PROCEEDS THEREOF, TOGETHER WITH ALL INSTALLMENT PAYMENTS, INSURANCE PROCEEDS, OTHER PROCE
Collateral Count:


--------------------------------------------------------------------------------

2.
Filing Number: 107239690835
Filing Date: 07-26-2010
Filing Jurisdiction: CALIFORNIA
Filing History: Filing Type Filing Date



--------------------------------------------------------------------------------

Secured Party: H & N FOODS INTERNATIONAL, INC.
Secured Party Address: 5580 S ALAMEDA ST
VERNON CA 90058- 3426

--------------------------------------------------------------------------------

Debtor: SEAFOOD CONNECTION, INC.
Debtor Address: 2005 MANDELAY PL
SAN JOSE CA 95138- 2470


--------------------------------------------------------------------------------

3.
Filing Number: 107237096914
Filing Date: 07-02-2010
Filing Jurisdiction: CALIFORNIA
Filing History: Filing Type Filing Date



--------------------------------------------------------------------------------

Secured Party: H. R. INDUSTRIES, INC.
Secured Party Address: 605 BROAD AVE
RIDGEFIELD NJ 07657- 1697

--------------------------------------------------------------------------------

Debtor: H & N FOODS INTERNATIONAL, INC.
Debtor Address: 5580 S ALAMEDA ST
VERNON CA 90058- 3426

--------------------------------------------------------------------------------

Collateral Description: 07/02/2010 107237096914 - IN ORDER TO SECURE THE PAYMENT OF ITS OBLIGATIONS TO SELLER, BUYER HEREBY GRANTS A CONTINUING SECURITY INTEREST TO SELLER IN ALL OF BUYER\'S PRESENTLY OWNED OR HEREAFTER ACQUIRED: (A) EQUIPMENT, (B) INVENTORY, (C) BOOKS AND, (D) ACCOUNTS, INCLUDING DEPOSIT ACCOUNTS, (E) ACCOUNTS RECEIVABLE, (F) GENERAL INTANGIBLES, (G) INVESTMENTS, (H) DOCUMENTS, (I) CHATTEL PAPER, (J) AND GOODS, TOGETHER WITH ALL PROCEEDS.
Collateral Count:


--------------------------------------------------------------------------------

4.
Filing Number: 097210139567
Filing Date: 10-02-2009
Filing Jurisdiction: CALIFORNIA
Filing History: Filing Type Filing Date



--------------------------------------------------------------------------------

Secured Party: TOYOTA MOTOR CREDIT CORPORATION
Secured Party Address: PO BOX 3457
TORRANCE CA 90510- 3457

--------------------------------------------------------------------------------

Debtor: H & N FOODS INTERNATIONAL, INC.
Debtor Address: 5580 S ALAMEDA ST
VERNON CA 90058- 3426


--------------------------------------------------------------------------------

5.
Filing Number: 097210139820
Filing Date: 10-02-2009
Filing Jurisdiction: CALIFORNIA
Filing History: Filing Type Filing Date



--------------------------------------------------------------------------------

Secured Party: TOYOTA MOTOR CREDIT CORPORATION
Secured Party Address: PO BOX 3457
TORRANCE CA 90510- 3457

--------------------------------------------------------------------------------

Debtor: H & N FOODS INTERNATIONAL, INC.
Debtor Address: 5580 S ALAMEDA ST
VERNON CA 90058- 342


There are no legal filings listed with the District Court.



THE COMPANY IS NOT LISTED ON THE OFAC LIST.*


For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

It allows a creditor to notify other creditors about a debtor�s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

The Uniform Commercial Code Bureau files and maintains records on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

 Bottom of Form

 

 

Rating

 

Local credit bureau gave a encouraging credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

FINAL OPINION:

This is a very well established business.

The entity's revenue is pretty encouraging for the company's size.

The UCC found confirmed the trust from the financial institution.

We did not find any specific adverse record threatening the business' creditworthiness.

We estimate that the entity can bear a credit line.

A business connection cannot be conducted.

 

 

SUMMARY

 

FINANCIAL SUMMARY

DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Comments:

 


The receptionist confirmed the company's address.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.99

UK Pound

1

Rs.72.60

Euro

1

Rs.64.01

 

 

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.