MIRA INFORM REPORT

 

 

Report Date :           

14.05.2011

 

IDENTIFICATION DETAILS

 

Name :

GREAT  LIGHT  LTD

 

 

Registered Office :

Unit 9, 4/F., Block A, Proficient Industrial Centre, 6 Wang Chiu Road, Kowloon Bay, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

28.11.1986

 

 

Com. Reg. No.:

10675297

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer, Importer and Exporter of all kinds of leather products including leather belts and wallets, giftware, premium and hobbies, leather passport covers, leather telephone covers, travel bags and luggage, travel goods and bags, and other leather accessories.

 

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 :

Regular

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

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

company name

 

GREAT  LIGHT  LTD.

 

 

Company ADDRESS

 

Unit 9, 4/F., Block A, Proficient Industrial Centre, 6 Wang Chiu Road, Kowloon Bay, Kowloon, Hong Kong.

PHONE:            2753 0988

FAX:                 2753 5533

E-MAIL:            sophiawg@greatlight.com.hk

 

 

MANAGEMENT

 

Managing Director:  Mr. Chiang Chih Chiang, Charles

 

 

SUMMARY

 

Incorporated on:             28th November, 1986.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$2,000,000.00

Issued:              HK$2,000,000.00

 

Business Category:        Manufacturer, Importer and Exporter.

 

Annual Turnover:            HK$75~80 million.

 

Employees:                   14.

 

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

 

Banking Relation:            Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Unit 9, 4/F., Block A, Proficient Industrial Centre, 6 Wang Chiu Road, Kowloon Bay, Kowloon, Hong Kong.

 

China Factories:-

Guanghan Hongliang Leather Product Co. Ltd., China.

Zheng Qiang Leather Products Factory

Jinxi Administrative Zone, 528455 Zhongshan City, Guangdong Province, China.

[Tel: 86-760-8889 2466;  Fax: 86-760-8889 6387]

 

Associated Company:-

Ample Sources Industries Ltd.

Unit 14, 4/F., Block A, Proficient Industrial Centre, 6 Wang Chiu Road, Kowloon Bay, Kowloon, Hong Kong.

[Tel:      2755 0933

Fax:      2796 5964

E-mail:  ample@netvigator.com]

 

 

BUSINESS REGISTRATION NUMBER

 

10675297

 

 

COMPANY FILE NUMBER 

 

0179020

 

 

MANAGEMENT

 

Managing Director:  Mr. Chiang Chih Chiang, Charles

 

 

CAPITAL

 

Nominal Share Capital:   HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$2,000,000.00

 

SHAREHOLDERS

(As per registry dated 28-11-2010)

 

Name

 

No. of shares

CHIANG Chih Chiang

 

1,980,000

LIN Jen Ni

 

20,000

 

 

––––––––

 

Total:

2,000,000

=======

 

 

DIRECTORS  

(As per registry dated 28-11-2010)

 

Name

(Nationality)

 

Address

CHIANG Chih Chiang

Unit 9, 4/F., Block A, Proficient Industrial Centre, 6 Wang Chiu Road, Kowloon Bay, Kowloon, Hong Kong.

 

LIN Jen Ni

Unit 9, 4/F., Block A, Proficient Industrial Centre, 6 Wang Chiu Road, Kowloon Bay, Kowloon, Hong Kong.

 

 

SECRETARY 

 

LIN Jen Ni  (As per registry dated 28-11-2010)

 

 

HISTORY

 

The subject was incorporated on 28th November, 1986 as a private limited liability company under the Hong Kong Companies Ordinance.

Last time, the subject was located at Room 1903, 19/F., Tower 2, Enterprise Square, 9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong, moved to the present address in December 2009.

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

OPERATIONS

 

Activities:                      Manufacturer, Importer and Exporter.

 

Lines:                           All kinds of leather products including leather belts and wallets, giftware, premium and

hobbies, leather passport covers, leather telephone covers, travel bags and luggage, travel goods and bags, and other leather accessories.

 

Employees:                   14.

 

Materials/Commodities:  Imports raw materials from Europe, Taiwan and India, and finished products from China.

 

Markets:                       Australia, North America, Europe, etc.

 

Annual Turnover:            HK$75~80 million.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$2,000,000.00

 

Mortgage or Charge:       None on Company File since 2002.

           

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 as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Normal.

GENERAL

 

Having issued 2 million ordinary shares of HK$1.00 each, Great Light Ltd. is jointly owned by Mr. Charles Chiang Chih Chiang, holding 99% interests; and his wife, Ms. Lin Jen Ni, holding 1%.

The subject is a leather product manufacturer and trader.  It is engaged in manufacturing and exporting leather belts, leather wallets, giftware, novelties, leather passport covers, leather telephone covers, travel bags, luggage, leather bags, and other leather accessories.  All of the manufacturing activities are carried out by its factory Zheng Qiang Leather Products Factory in Zhongshan City, Guangdong Province, China.  Currently, the Zhongshan factory is managed by Chiang’s family member.

The subject also has got another factory Guanghan Hongliang Leather Product Co. Ltd. which is in Sichuan Province, China.

Finished products are exported to the United States, Canada, Australia and European countries.  Part of its businesses are conducted on OEM terms.  Business is rather satisfactory.

The main functions of the subject are raw materials sourcing, products marketing, and payments settling for its factories in China.

The subject’s business is chiefly administered by the couple.  Chiang is a Taiwanese who has been in Hong Kong for a very long time.

The annual sales turnover of the subject ranges from HK$75 to 80 million.  Making a small profit every year.

The subject has had an associated company located at the same floor of the building known as Ample Sources Industries Ltd. [Ample Sources].  Ample Sources, set up in April 1990, is equally owned by Charles Chiang and Lin.  Ample Sources has just issued 2 ordinary shares of HK$1.00 each while each of the shareholders holds a single share.  Ample Sources is engaged in the same lines of business as the subject.

The history of the subject in Hong Kong is over twenty-four years and five months.

On the whole, consider the subject good for normal business engagements.

 

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.91

UK Pound

1

Rs.73.06

Euro

1

Rs.64.03

 

 

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.