MIRA
INFORM REPORT
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Report Date : |
18.03.2011 |
IDENTIFICATION DETAILS
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Name : |
KAY FUNG DEVELOPMENT
COMPANY |
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Registered Office : |
Room 1905, 19/F., |
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Country : |
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Date of Incorporation : |
08.04.2003. |
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Com. Reg. No.: |
33539953-000-04 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Manufacturer, Importer and Exporter of Calculator, clock and watch,
electro-horologe, videophone, digit camera, 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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Name and address
KAY FUNG
DEVELOPMENT COMPANY
ADDRESS:
Room 1905, 19/F., Nan Fung Centre,
PHONE: 2417 1098
FAX: 2417 2098
E-MAIL: blt@kayfung.com
MANAGEMENT
Manager: Mr. Wong King Kay
SUMMARY
Establishment: 8th
April, 2003.
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Manufacturer, Importer and Exporter.
Annual Turnover: HK$85~90
million.
Employees:
10. (
Main Dealing Banker: Bank of
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room 1905, 19/F., Nan Fung Centre,
Affiliated Company:-
[Tel: 86-594-3593608; Fax:
86-594-3562518]
BUSINESS REGISTRATION NUMBER
33539953-000-04
MANAGEMENT
Manager: Mr. Wong King Kay
Contact Person: Mr. To Chun Ngok,
SOLE PROPRIETOR
Name: Mr. WONG King Kay
Residential Address: Room
2408, Block G, Luk Yeung Sun Chuen, Tsuen Wan, New Territories, Hong Kong.
HISTORY
The subject was established on 8th April, 2003 as a sole proprietorship
concern owned by Mr. Wong King Kay under the Hong Kong Business Registration
Regulations.
At the very beginning, the subject was located at Room 2408, Block G,
Luk Yeung Sun Chuen, Tsuen Wan, New Territories, Hong Kong, moved to Unit 7B,
34/F., Cable TV Tower, 9 Hoi Shing Road, Tsuen Wan, New Territories, Hong Kong
in November 2003; to Unit 13, 15/F. of the same building in May 2007; and
further to the present address in June 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Manufacturer, Importer and Exporter.
Lines: Calculator, clock and
watch, electro-horologe, videophone, digit camera, etc.
Employees: 10. (
750. (
Materials/Commodities: Imports raw
materials from European countries, some Asian countries and finished products
from
Markets:
Annual Turnover: HK$85~90 million.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
MEMBERSHIP
Hong Kong Productivity Council,
FINANCIAL INFORMATION
Capital: Not disclosed.
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:
Bank of
Standing:
GENERAL
Kay Fung Development Company is a sole proprietorship set up and owned
by Mr. Wong King Kay who is a
The subject is engaged in manufacturing and marketing calculators. Its factory in Putian City, Fujian Province,
China known as Fujian Kayfung Electronic Co. Ltd. [Fujian Kayfung].
Fujian Kayfung’s main products are: 12-digit printing calculator, dual
power calculator, printing calculator, dual-power desktop calculator,
dual-power pocket calculator, scientific calculator, printing calculator, electronic
calculator, name card holder calculator, etc.
Fujian Kayfung also manufactures other electronic products such as
hour-counter, clock and watch, electro-horologe, videophone, digit camera, etc. Some of its products bear the brand name “BLT®”. According to Fujian Kayfung, the brand name “BLT®”
has won a good reputation both in domestic and foreign markets. Prime markets are
In Putian, Fujian Kayfung occupies an area of 90,000 sq.m. The first phase of the factory covers an area
of 30,000 sq.m. of production area and 6,000 sq.m. of staff dormitory
area. Now, the factory has around 750
workers. The manager of the factory is
Mr. Jerry Hu. Fujian Kayfung is ISO
9001:2000 certified. Its production capacity
is about 2 million units of calculators monthly.
The subject also offers customers with after-sales services. Contact person is Mr. Stanley To Chun
Ngok. The annual sales turnover of the
subject ranges from HK$85 to 90 million.
Making a small profit every year.
As 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.45.24 |
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1 |
Rs.72.57 |
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Euro |
1 |
Rs.63.00 |
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.