MIRA INFORM REPORT

 

 

Report Date :           

10.04.2012

 

IDENTIFICATION DETAILS

 

Name :

CHUNG  MAN  COMPANY

 

 

Registered Office :

213, Shui Tsui San Tsuen, Tai Tong, Yuen Long, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.12.2011

 

 

Com. Reg. No.:

54188016-000-12

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of dried aquatic products, etc.

 

 

No. of Employees :

03

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

Payment Behaviour :

Unknown

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, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

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

 

CHUNG  MAN  COMPANY

 

 

Company ADDRESS

 

213, Shui Tsui San Tsuen, Tai Tong, Yuen Long, New Territories, Hong Kong.

PHONE:            2470 1008

FAX:                 2470 0260

 

 

MANAGEMENT

 

Manager:  Mr. Ng. Chung Man, Dicky

 

 

SUMMARY

 

Establishment:                          1st December, 2011.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   3.

 

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

 

Banking Relation:           Too early to comment.

Company ADDRESS

 

Head Office:-

213, Shui Tsui San Tsuen, Tai Tong, Yuen Long, New Territories, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBEr

 

54188016-000-12

 

 

MANAGEMENT

 

Manager:  Mr. Ng. Chung Man, Dicky

 

 

SOLE PROPRIETOR

 

Name:                           Mr. NG Chung Man, Dicky

Residential Address:      213, Shui Tsui San Tsuen, Tai Tong, Yuen Long, New Territories, Hong Kong.

 

 

HISTORY

 

The subject was established on 1st December, 2011 as a sole proprietorship concern owned by Mr. Ng. Chung Man, Dicky under the Hong Kong Business Registration Regulations.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of dried aquatic products, etc.

 

Employees:                   3.

 

Commodities Imported:   India, Japan, China, South America, etc.

 

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

 

Terms/Sales:                 COD or as per contracted.

 

Terms/Buying:               L/C, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Too early to offer an opinion.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly 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

 

Chung Man Company is a sole proprietorship set up and owned by Mr. Ng Chung Man, Dicky who is a Hong Kong businessman.

Business commenced in December 2011, the subject is engaged in the following business scope:-

·         Transportation

·         All kinds of dried aquatic products

The subject is trading in dried aquatic products such as shark’s fin, dried cuttle fish, squid, octopus, abalone, beche-de-mer, mussels, oysters, scallops, shrimps, lobsters, etc.  Commodities are chiefly imported from India, China, Japan, South America, etc.  The subject is also engaged in transportation.  It transports the above-mentioned products for clients.

Mr. Ng Chung Man has been engaged in transportation for a rather long time.  However, he commenced dried aquatic products trading by himself in December 2011.  History is just over four months in Hong Kong.

On the whole, since the history of the subject is short, consider it good for normal business engagements on secured basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.28

UK Pound

1

Rs.81.38

Euro

1

Rs.67.01

 

 

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.