MIRA
INFORM REPORT
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Report Date : |
03.09.2011 |
IDENTIFICATION DETAILS
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Name : |
EVER UNITED
METAL CO. LTD. |
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Formerly Known As : |
YIP WING LUEN METAL CO. |
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Registered Office : |
G/F., |
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Country : |
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Date of Incorporation : |
12.03.1982 |
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Com. Reg. No.: |
07758004 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter, Wholesaler and Retailer of Stainless Steel Sheets and Rods, Aluminium Alloys, 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 : |
No complaints |
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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 – March 31st, 2010
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Company name
EVER UNITED
METAL CO. LTD.
Company ADDRESS
G/F.,
PHONE: 2385 3599, 2782 3772
FAX: 2374 2567, 2770 2039
E-MAIL: info@eum.com.hk
MANAGEMENT
Managing
Director: Mr. Yip Chiu Pun (Alias Yip
Chiu)
SUMMARY
Establishment : March 1972.
Incorporated on : 12th March, 1982.
Organization : Private Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$6,000,000.00
Business Category :Metal Merchant.
Annual Turnover :
Approx. HK$100~110 million.
Employees :
35.
Main Dealing
Banker:Industrial & Commercial Bank of
Banking Relation : Good.
ADDRESS
Registered
Head Office & Main Shop:-
G/F.,
Branch
Shop:-
G/F.,
Godowns:-
G/F.,
G/F., Yale
Industrial Centre, 61-63 Au Pui Wan Street, Shatin, New Territories,
BUSINESS REGISTRATION NUMBER
07758004
COMPANY FILE NUMBER
0109696
MANAGEMENT
Managing
Director: Mr. Yip Chiu Pun (Alias Yip
Chiu)
Contact
Person: Ms. Carol Yip
CAPITAL
Nominal Share
Capital: HK$10,000,000.00 (Divided into 10,000 shares of HK$1,000.00 each)
Issued Share
Capital: HK$6,000,000.00
SHAREHOLDERS
(As
per registry dated 12-03-2011)
|
Name |
Occupation |
No.
of shares |
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YIP
Chiu Pun (Alias YIP Chiu) |
Merchant |
5,000 |
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YIP King Man |
Merchant |
1,000 |
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––––– |
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Total: |
6,000 ==== |
DIRECTORS
(As
per registry dated 12-03-2000)
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Name (Nationality) |
Address |
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YIP Chiu Pun
(Alias YIP Chiu) (Chinese) |
Flat A, 6/F., Block 9, |
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YIP
King Man (Canadian) |
Flat A, 6/F., Block 9, |
SECRETARY
(As
per registry dated 12-03-2000)
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Name (Nationality) |
Address |
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LEUNG Wai Sun (Chinese) |
Room 1332, Tsui Shek House, Ping Shek Estate, |
HISTORY
The
subject was originally established in March 1972 as a sole proprietorship
concern of Mr. Yip Chiu Pun under the name of Yip Wing Luen Metal Co. Incorporated on 12th March, 1982 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, Wholesaler and Retailer.
Lines : Stainless steel sheets and rods, aluminium alloys, etc.
Trade Marks : “AICHI”, “MOONSTAR” and “SAMMI” brands.
Office/Main Shop Space: 2,000 sq.ft. – self-owned.
Employees : 35.
Commodities Imported :-Stainless
steel –
Aluminium alloys –
Markets :
Hong Kong (main) and
Annual Turnover : Approx. HK$100~110 million.
Terms/Sales : COD or as per contracted.
Terms/Buying : L/C, T/T, D/P, etc.
MEMBERSHIP
The Hong Kong
Metal Merchants Association,
MAIN JAPANESE SUPPLIERS
Hanwa Co. (H.K.)
Ltd., Hong Kong.
FINANCIAL INFORMATION
Nominal Share
Capital: HK$10,000,000.00 (Divided into 10,000 shares of HK$1,000.00 each)
Issued Share
Capital: HK$6,000,000.00
Alternation
of Capital:-
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12-03-1982 |
paid up |
HK$ 2,000.00 |
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03-06-1983 |
paid up |
HK$ 4,998,000.00 |
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In 1990 |
paid up |
HK$ 1,000,000.00 |
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––––––––––––––– |
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Total: |
paid up |
HK$ 6,000,000.00 ============== |
Mortgage or Charge : (See attachment)
Profit or Loss : Operation is profitabe.
Condition : Business is rather active.
Facilities : Making active use of general banking facilities.
Payment : Met on time.
Commercial Morality : Good.
Bankers
Industrial &
Commercial Bank of
Hang Seng Bank
Ltd.,
Bank of
BNP Paribas,
Hong Kong Branch.
The Bank of
Tokyo-Mitsubishi UFJ Ltd., Hong Kong Branch.
UBS AG,
Hong Kong Branch.
Banking:-
One
source reports a satisfactory account with the bank opened in September 1974
with respectable balances. They have
financed their imports with satisfactory results.
Standing: Good.
GENERAL
Ever United Metal Co. Ltd. is a well-established importer and wholesaler of stainless steel sheets. The subject is jointly owned by Mr. Yip Chiu Pun, holding 83.3% interests, and Mr. Yip King Man, holding 16.7%. Currently, Yip Chiu Pun is about 73 years old..
Came to Hong Kong from
In 1982, Yip Chiu Pun changed his company into a private limited company under the name of Ever United Metal Co. Ltd. which is the subject.
The subject imports products chiefly from
The subject’s registered address is a retailing outlet. Another retailing out is located at
As the history of the subject is over twenty-nine years in
REMARKS
Property
information of the company and director:-
1. Property Location: Flat B on 75/F. with Flat Roof of Block 2A and Carparking
Space No. 131 on Basement 2 Floor, The Arch, 1 Austin Road West, Kowloon, Hong
Kong.
Owner: Ever United Metal Co. Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
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18-01-2008 |
- |
Industrial & Commercial Bank of |
Mortgage to secure general banking facilities |
2. Property Location: Shop I on G/F.,
Owner: Ever United Metal Co. Ltd.
Date of
Purchase: 10-11-1988
Purchased
Price: HK$13,500,000 pt.
Incumbrances: No mortgage record registered against the
property.
3. Property Location: Flat A on 6/F. of Block 9, Wonderland Villas,
Owner: Ever United Metal Co. Ltd.
Date of
Purchase: 23-09-1986
Purchased
Price: HK$1,250,000
Incumbrances: No mortgage record registered against the
property.
4. Property Location: Unit B on Shop 4 of G/F.,
Owner: Ever United Metal Co. Ltd.
Date of
Purchase: 08-12-1987
Purchased
Price: HK$1,350,000
Incumbrances: No mortgage record registered against the
property.
5. Property Location: Shop 1 on G/F.,
Owner: Yip Chiu Pun
Date of
Purchase: 30-10-1980
Purchased
Price: HK$2,000,000
Incumbrances: No mortgage record registered against the
property.
6. Property Location: Unit B of Shop 2 on G/F.,
Owner: Yip Chiu Pun
Date of
Purchase: 30-10-1980
Purchased
Price: HK$1,320,000
Incumbrances: No mortgage record registered against the
property.
7. Property Location: Unit C, Shop 2 on G/F.,
Owner: Yip Chiu Pun
Date of
Purchase: 30-10-1980
Purchased Price: HK$600,000
Incumbrances: No mortgage record registered against the
property.
8. Property Location: Shop 3 on G/F.,
Owner: Yip Chiu Pun
Date of
Purchase: 30-10-1980
Purchased
Price: HK$1,830,000
Incumbrances: No mortgage record registered against the
property.
9. Property Location: Shop 4 on G/F.,
Owner: Yip Chiu Pun
Date of
Purchase: 13-12-1980
Purchased
Price: HK$1,453,500
Incumbrances: No mortgage record registered against the
property.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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29-09-2003 |
Instrument: Charge
Over Assets Property: All the Company’s present and future
rights, title and interest in and to and pledges the Charged Assets Mortgagee: UBS
AG, |
The Secured Indebtedness |
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18-01-2008 |
Instrument: Mortgage Property: 2,250/25,901,816th parts or shares of and
in Kowloon Inland Lot No. 11080 (Flat B on 75/F. with Flat Roof of Block 2A
and Carparking Space No. 131 on Basement 2 Floor, The Arch, 1 Austin Road
West, Kowloon, Hong Kong.) Mortgagee: Industrial
& Commercial Bank of |
All moneys |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.89 |
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1 |
Rs.74.31 |
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Euro |
1 |
Rs.65.40 |
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.