MIRA INFORM REPORT

 

 

Report Date :

12.10.2011

 

IDENTIFICATION DETAILS

 

Name :

CHK  TRADING  CO.  LTD.

 

 

Registered Office :

21/F., Hoi Kiu Commercial Building, 158 Connaught Road Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

20.09.2002

 

 

Com. Reg. No.:

33037391

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Walnuts, nuts, almond, pistachio, macadamia, 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

 

Company name and address

 

CHK  TRADING  CO.  LTD.

 

 

ADDRESS:       21/F., Hoi Kiu Commercial Building, 158 Connaught Road Central, Hong Kong.

 

PHONE:            2850 8038

 

FAX:                 2544 9288

 

 

MANAGEMENT

 

Managing Director:  Mr. Cheng Hung Kay

 

 

SUMMARY

 

Incorporated on:             20th September, 2002.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Foodstuff Trader.

 

Employees:                   4.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Registered Head Office:-

21/F., Hoi Kiu Commercial Building, 158 Connaught Road Central, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

 33037391

 

 

COMPANY FILE NUMBER 

 

0814733

 

MANAGEMENT

 

Managing Director:  Mr. Cheng Hung Kay

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10,000.00

 

 

SHAREHOLDERS

(As per registry dated 20-09-2010)

 

Name

 

No. of shares

CHENG Hung Kay

 

5,000

CHUNG Wing Suen

 

5,000

 

 

–––––

 

Total;

10,000

=====

 

 

DIRECTORS  

(As per registry dated 20-09-2010)

 

Name

(Nationality)

 

Address

CHUNG Wing Suen

Room 1308, Block 1, Heng Fa Chuen, Chai Wan, Hong Kong.

 

CHENG Hung Kay

Room 1308, Block 1, Heng Fa Chuen, Chai Wan, Hong Kong.

 

 

SECRETARY

 

CHUNG Wing Suen  (As per registry dated 20-09-2010)

 

 

HISTORY

 

The subject was incorporated on 20th September, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Walnuts, nuts, almond, pistachio, macadamia, etc.

 

Employees:                   4.

 

Commodities Imported:   India, China, other Asian countries, Europe, US, etc.

 

Markets:                       Japan, US, Europe, Southeast Asia, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each

 

Issued Share Capital:     HK$10,000.00

 

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:                      Small.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, CHK Trading Co. Ltd. is equally owned by Mr. Cheng Hung Kay and Ms. Chung Wing Suen.  Both of whom are Hong Kong merchants.  They are also directors of the subject.  Cheng and Chung seem to be a couple.

The subject is a dried fruit, foodstuff, dried nut trader.  It is trading in the following commodities:

Walnuts, nuts, almond, pistachio, macadamia, etc.

Commodities are sourced from India, China, other Asian countries, Europe, the United States, etc.  Prime markets are Japan, Europe, North America, etc.

Two of the subject’s main US customers are Paramount Farms Inc. and Sun Valley Nut Inc.

The business of the subject is rather active.  Regular suppliers and customers have been maintained.

The history of the subject in Hong Kong is over nine years.

On the whole, consider the subject good for normal business engagements in moderate credit amounts.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.03

UK Pound

1

Rs.76.60

Euro

1

Rs.66.80

 

 

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.