MIRA INFORM REPORT

 

 

Report Date :           

10.04.2012

 

IDENTIFICATION DETAILS

 

Name :

COLOUR CHEMICALS  CO.  LTD.

 

 

Registered Office :

c/o Fu Wa Trading (Yarns) Co. Ltd., Room 1110, 11/F., Peninsula Tower, 538 Castle Peak Road, Lai Chi Kok, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

15.03.2011

 

 

Com. Reg. No.:

58079867

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer and Exporter of all kinds of chemicals, dyestuffs, etc.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

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, 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

 

COLOUR  CHEMICALS  CO.  LTD.

 

 

Company ADDRESS

 

c/o Fu Wa Trading (Yarns) Co. Ltd.

Room 1110, 11/F., Peninsula Tower, 538 Castle Peak Road, Lai Chi Kok, Kowloon, Hong Kong.

PHONE:            2786 4111

 

 

MANAGEMENT

 

Managing Director:  Ms. Deng Xiao Fang

 

 

SUMMARY

 

Incorporated on:             15th March, 2011.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$100,000.00

Issued:              HK$1.00

 

Business Category:        Chemical Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

c/o Fu Wa Trading (Yarns) Co. Ltd.

Room 1110, 11/F., Peninsula Tower, 538 Castle Peak Road, Lai Chi Kok, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

58079867

 

 

COMPANY FILE NUMBER

 

1573237

 

 

MANAGEMENT

 

Managing Director:  Ms. Deng Xiao Fang

 

 

CAPITAL

 

Nominal Share Capital:   HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

 

SHAREHOLDER  

(As per registry dated 15-03-2012)

 

Name

 

No. of share

DENG Xiao Fang

 

1

=

 

DIRECTOR    

(As per registry dated 15-03-2012)

 

Name

(Nationality)

 

Address

DENG Xiao Fang

Flat 10B, Lihua Court, Liya Yuan, Guicheng, Nanhai District, Foshan City, Guangdong Province, China.

 

 

SECRETARY

(As per registry dated 15-03-2012)

 

Name

Address

Co. No.

Rex & Rex Corporate Services Ltd.

Room 2103, 21/F., Langham Place Office Tower, 8 Argyle Street, Mongkok, Kowloon, Hong Kong.

0326819

 

 

HISTORY

 

The subject was incorporated on 15th March, 2011 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 Exporter.

 

Lines:                           All kinds of chemicals, dyestuffs, etc.

 

Employees:                   Nil.

 

Commodities Imported:   Europe, India, China, etc.

 

Markets:                       China, other Asian countries, Europe, etc.

           

Terms/Sales:                 As per contracted.

 

Terms/Buying:               L/C, etc.

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

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

 

Having issued just one ordinary share of HK$1.00, Colour Chemicals Co. Ltd. is wholly owned by Ms. Deng Xiao Fang who is a China merchant.  She is a China ID Card holder and does not have the right to reside in Hong Kong permanently.  Currently residing in Foshan City, Guangdong Province, China, she is also the only director of the subject.

The subject does not have its own operating office.  Its registered office is in a Hong Kong-registered located at Room 1110, 11/F., Peninsula Tower, Room 1110, 11/F., Peninsula Tower, Kowloon, Hong Kong known as Fu Wa Trading (Yarns) Co. Ltd. [Fu Wa] which is handling its correspondences and documents.  Fu Wa is trading in all kinds of yarns.

The subject has no employees in Hong Kong.

Incorporated in March 2011, the subject is trading in all kinds of colour chemicals and dyestuffs.  Products are chiefly imported from Europe and India, and acquired from China.  It markets chemicals in China and exports to the other Asian countries, Europe, etc.  Business is still under development.  It is likely that the subject has got an associated company in Foshan City, Guangdong Province, China which is also operated by Deng.  The China firm also imports and exports chemicals.

The subject’s history in Hong Kong is just over a year.

As the history of the subject is short in Hong Kong, on the whole, 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%)

 

 

 

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.