MIRA INFORM REPORT

Report Date :

19.04.2012

IDENTIFICATION DETAILS

Name :	HOPKING LTD.
Registered Office :	Unit 1304, 13/F., Tern Plaza, 5 Cameron Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	10.10.1991
Com. Reg. No.:	15141702
Legal Form :	Private Limited Company
Line of Business :	Importer and Exporter of all kinds of industrial sewing machine motors, etc.
No. of Employees :	4.

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 31^st, 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 and address

HOPKING LTD.

ADDRESS: Unit 1304, 13/F., Tern Plaza, 5 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2721 2270

FAX: 2724 2013

MANAGEMENT

Managing Director: Mr. Jiang Chien Hei

SUMMARY

Incorporated on: 10th October, 1991.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Importer and Exporter.

Employees: 4.

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

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

Unit 1304, 13/F., Tern Plaza, 5 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

Associated Companies:-

Shenzhen Yongda Electric Machinery Co. Ltd., China.

Weide Electric Machinery (Shenzhen) Co. Ltd., China.

Yong Huei Hsing Electric Industries Corporation, Taiwan.

BUSINESS REGISTRATION NUMBER

15141702

COMPANY FILE NUMBER

0329127

MANAGEMENT

Managing Director: Mr. Jiang Chien Hei

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 10-10-2011)

Name		No. of shares
JIANG Chien Hei		6,250
CHIANG Yu Fu		1,458
CHIANG Yu Jam		1,458
CHIANG Yu Shen		834
		––––––
	Total:	10,000 =====

DIRECTORS

(As per registry dated 10-10-2011)

Name (Nationality)	Address
JIANG Chien Hei	55 Yong Huei Road, Ta Ho Li Shitun D, Tai Chung, Taiwan.
CHIANG Yu Jam	2, 8/F., No.1 Lane 285, Jhong Xing Street, Jhong Ming Village, West District, Tai Chung, Taiwan.

SECRETARY

(As per registry dated 10-10-2011)

Name	Address
WONG Hung Cheung	Unit 1304, 13/F., Tern Plaza, 5 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was incorporated on 10th October, 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 Exporter.

Lines: All kinds of industrial sewing machine motors, etc.

Employees: 4.

Commodities Imported: Taiwan, China, etc.

Markets: China, Taiwan, Southeast Asia, Europe and North America, etc.

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

Terms/Buying: L/C, T/T, D/P, 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 rather 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: Normal.

GENERAL

Hopking Ltd. is jointly owned by four Taiwan merchants, namely, Mr. Jiang Chien Hei, holding 62.50% interests; Mr. Chiang Yu Fu, holding 14.58%; Mr. Chiang Yu Jam, also 14.58%; and Mr. Chiang Yu Shen, 8.34%.

The directors are Jiang Chien Hei and Chiang Yu Jam.

The subject has had an associated company in Taiwan known as Yong Huei Hsing Electric Industries Corporation [YHH] which is engaged in manufacturing all kinds of industrial sewing machine motors, etc. Besides, YHH has set up associated factories in Shenzhen Special Economic Zone, China. The China factory is known as Weide Electric Machinery (Shenzhen) Co. Ltd. [Weide]. Weide is located at the Tenth Industrial Zone, Longhua Town, Shenzhen Special Economic Zone, China. The contact person of Weide is also Jiang Chien Hei.

YHH has set up another factory known as Shenzhen Yongda Electric Machinery Co. Ltd. [Yongda] which is also located at the operating address of Weide. Weide and Yongda have over 500 employees in China.

The factories are manufacturing products bearing the brand name of “ISM”.

According to YHH, it has become the world’s largest manufacturer of industrial sewing machine motor.

In March of 1990, YHH opened a factory in China which is engaged in producing clutch motor. With an investment of US$5 million, the factory commenced production on 3rd May, 1991. Its products have got the UL and CSA certification.

1998, its factory in China was able to produce up to 1,850 motors per day.

The subject is trading in the products of YHH, Yongda and Weide. Products are marketed in China, exported to Taiwan, Southeast Asia, Europe and North America, etc. Business is rather active.

As the history of the subject is over twenty years and six months in Hong Kong, on the whole, consider it good for normal business engagements.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.89
UK Pound	1	Rs.83.18
Euro	1	Rs.68.06

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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