MIRA INFORM REPORT

 

 

Report Date :           

21.10.2011

 

IDENTIFICATION DETAILS

 

Name :

HARBOUR  HUGH  TRADING  LTD.

 

 

Registered Office :

Rooms 1203-1204, 12/F., Hang Pont Commercial Building, 31 Tonkin Street, Shamshuipo, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

29.01.1991

 

 

Com. Reg. No.:

14385109

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer and Wholesaler; Supplier of all kinds of hand tools, power tools, pliers, 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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

HARBOUR  HUGH  TRADING  LTD.

 

 

Company ADDRESS

 

Rooms 1203-1204, 12/F., Hang Pont Commercial Building, 31 Tonkin Street, Shamshuipo, Kowloon, Hong Kong.

PHONE:            2728 6211, 2728 6212

FAX:                 2387 9081

 

 

MANAGEMENT

 

Executive Directors:       Mr. Chan Chi Chiu

Mr. Ho Che Hung

 

 

SUMMARY

 

Incorporated on:             29th January, 1991.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$4,000,000.00

Issued:              HK$4,000,000.00

 

Business Category:        Tool Trader.

 

Employees:                   6.

 

Main Dealing Banker:     Bank of Communications Co. Ltd., Hong Kong Branch.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Rooms 1203-1204, 12/F., Hang Pont Commercial Building, 31 Tonkin Street, Shamshuipo, Kowloon, Hong Kong.

G.P.O. Box 10742, Hong Kong.

 

Operating Company:-

Artic Enterprises Company, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBEr

 

14385109

 

 

COMPANY FILE NUMBER

 

0298237

 

 

MANAGEMENT

 

Executive Directors:       Mr. Chan Chi Chiu

Mr. Ho Che Hung

 

 

CAPITAL

 

Nominal Share Capital:   HK$4,000,000.00 (Divided into 4,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$4,000,000.00

 

SHAREHOLDERS

(As per registry dated 29-01-2011)

 

Name

 

No. of shares

CHAN Chi Chiu

 

1,800,000

HO Che Hung

 

1,800,000

WONG Yick Kui

 

400,000

 

 

––––––––

 

Total:

4,000,000

=======

 

 

DIRECTORS  

(As per registry dated 29-01-2011)

 

Name

(Nationality)

 

Address

HO Che Hung

Block 6, 11/F., Site 3, Whampoa Garden, Hunghom, Kowloon, Hong Kong.

 

WONG Yick Kui

Flat A, 6/F., 96-102 Tin Hau Temple Road, Hong Kong.

 

CHAN Chi Chiu

Flat A, 17/F., Tower 5, Parc Palais, 18 Wylie Road, King’s Pak, Kowloon, Hong Kong.

 

 

SECRETARY 

(As per registry dated 29-01-2011)

 

WONG Yick Kui 

 

 

HISTORY

 

The subject was incorporated on 29th January, 1991 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 and Wholesaler; Supplier.

 

Lines:                           All kinds of hand tools, power tools, pliers, etc.

 

Employees:                   6.

 

Commodities Imported:   Mainly imported from Japan, Germany and other European countries, etc.

 

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

 

Terms/Sales:                 COD or L/C.

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$4,000,000.00 (Divided into 4,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$4,000,000.00

 

Mortgage or Charge:-

Date of  Deed of Indemnity, Charge Over Deposit and Set-Off:  29‑08‑2002

 

Amount:                        All actions, suits, proceedings, claims, demands, losses, damages, costs, fees, expenses

and/or liabilities granted to the Company general banking facilities

 

Property:                       By way of Fixed Charge to the Bank all the Company’s estate, right, title, claim, benefit

and interest to and in the Deposit Account No. 027-540-0-083333-7 and all interest

 

Mortgagee:                    Bank of Communications, Hong Kong Branch.  [Now known as Bank of Communications

Co. Ltd.]

 

Profit & Loss:                Making a small profit every year.

 

Condition:                      Keeping in an active condition.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments on time.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Bank of Communications Co. Ltd., Hong Kong Branch..

 

Standing:                      Normal.

 

GENERAL

 

Having issued 4 million ordinary shares of HK$1.00 each, Harbour Hugh Trading Ltd. incorporated in January 1991, is jointly owned by three individuals, namely, Mr. Chan Chi Chiu, holding 45% interests, Mr. Ho Che Hung, also holding 45%, and Mr. Wong Yick Kui, 10%.  Being Hong Kong merchant, they are also directors of the subject.

The business name of the subject is Artic Enterprises Company.  It is trading in hand tools, power tools, pliers, tools for cutting, etc.  Commodities are mainly imported from a precision industrial company in Sendai City of Japan and partly from Germany and Europe.  Products are sold in Hong Kong and re-exported to China, other Asian countries.  In recent years, China has become the prime market of the subject.  One of its products bears the trade mark H.T.D has been sold in China and finds ready market.  In 2001, a firm in Nanchang City, China had infringed on patent of the trade mark H.T.D and was sued by the subject in China.  Another significant trade mark sold by the subject is Fuji.

The business of the subject has been maintained in a normal and satisfactory manner.  No derogatory data have been heard.

The history of the subject in Hong Kong is over twenty years and eight months.

On the whole, in view of the history of the subject, consider it good for normal business engagements.

 

REMARKS:

 

Property information of director:-

Property Location

Owner

Date of Purchase

Purchased
Price

Apartment No. 5 on 9/F.,
Wing Tai Mansion, 6 Tin Heung Street, Kowloon, Hong Kong.

Tan Wan Chai (Deceased) & Chan Chi Chiu

20-10-1990

HK$770,000

 

(No mortgage record registered against the property)

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.71

UK Pound

1

Rs.78.09

Euro

1

Rs.68.05

 

 

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.