MIRA INFORM
REPORT
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Report Date : |
25.04.2012 |
IDENTIFICATION DETAILS
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Name : |
KAY
FUNG DEVELOPMENT COMPANY |
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Registered Office : |
Room 1905, 19/F., |
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Country : |
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Date of Incorporation : |
08.04.2003 |
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Com. Reg. No.: |
33539953-000-04 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturer, Importer and Exporter of Calculator, clock and watch, electro-horologe, videophone, digit camera, etc. |
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No. of Employees
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10. (Hong Kong) |
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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Hong Kong |
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 |
KAY FUNG DEVELOPMENT COMPANY
Room 1905, 19/F., Nan Fung Centre, 264-268 Castle Peak Road, Tsuen Wan, New Territories, Hong Kong.
PHONE: 2417 1098
FAX: 2417 2098
E-MAIL: blt@kayfung.com
Manager: Mr. Wong King Kay
Establishment: 8th April, 2003.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Manufacturer, Importer and Exporter.
Annual Turnover: HK$90~95 million.
Employees: 10. (Hong Kong)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room 1905, 19/F., Nan Fung Centre, 264-268 Castle Peak Road, Tsuen Wan, New Territories, Hong Kong.
Associated
Company:-
Fujian Kayfung Electronic Co. Ltd.
Fuliming Industrial Park, Hanjiang District, Putian City, Fujian Province, China.
[Tel: 86-594-3593608; Fax: 86-594-3562518]
33539953-000-04
Manager: Mr. Wong King Kay
Contact Person: Mr. To Chun Ngok, Stanley
Name: Mr. WONG King Kay
Residential Address: Room
2408, Block G, Luk Yeung Sun Chuen, Tsuen Wan, New Territories, Hong Kong.
The subject was established on 8th April, 2003 as a sole proprietorship concern owned by Mr. Wong King Kay under the Hong Kong Business Registration Regulations.
At the very beginning, the subject was located at Room 2408, Block G, Luk Yeung Sun Chuen, Tsuen Wan, New Territories, Hong Kong, moved to Unit 7B, 34/F., Cable TV Tower, 9 Hoi Shing Road, Tsuen Wan, New Territories, Hong Kong in November 2003; to Unit 13, 15/F. of the same building in May 2007; and further to the present address in June 2010.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Manufacturer, Importer and Exporter.
Lines: Calculator, clock and watch, electro-horologe, videophone, digit camera, etc.
Brand Name: BLT
Employees: 10. (Hong Kong)
750. (China)
Materials/Commodities: Imports raw materials from European countries, some Asian countries and finished products from China.
Markets: Japan, Southeast Asia, Europe, North America, etc.
Annual Turnover: HK$90~95 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Hong Kong Productivity Council, Hong Kong.
Capital: Not disclosed.
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Kay Fung Development Company is a sole proprietorship set up and owned by Mr. Wong King Kay who is a Hong Kong businessman. Wong is also the manager of the subject which commenced business in April 2003.
The subject is engaged in manufacturing and marketing calculators. Its factory in Putian City, Fujian Province, China is known as Fujian Kayfung Electronic Co. Ltd. [Fujian Kayfung].
Fujian Kayfung’s main products are: 8-digit printing calculator, 12-digit printing calculator, dual power calculator, printing calculator, dual-power desktop calculator, dual-power pocket calculator, scientific calculator, printing calculator, electronic calculator, name card holder calculator, etc. Fujian Kayfung also manufactures other electronic products such as hour-counter, clock and watch, electro-horologe, videophone, digit camera, etc. Some of its products bear the brand name “BLT®”. According to Fujian Kayfung, the brand name “BLT®” has won a good reputation both in domestic and foreign markets. Prime markets are Japan, Southeast Asia, Europe, North America, etc.
In Putian, Fujian Kayfung occupies an area of 90,000 sq.m. The first phase of the factory covers an area of 30,000 sq.m. of production area and 6,000 sq.m. of staff dormitory area. Now, the factory has around 750 workers. The manager of the factory is Mr. Jerry Hu. Fujian Kayfung is ISO 9001:2000 certified. Its production capacity is about 2 million units of calculators monthly.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong.
For instance, it took part in “Hong Kong Electronic Fair 2012 (Spring Edition)” which had been held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 13th to 16th April, 2012. It is going to take part in “Hong Kong Electronic Fair 2012 (Autumn Edition)” which will be held in the same venues in Hong Kong.
The subject also offers customers with after-sales services. Contact person is Mr. Stanley To Chun Ngok. The annual sales turnover of the subject ranges from HK$90 to 95 million. Making a small profit every year.
As the history of the subject in Hong Kong is over nine years, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.79 |
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UK Pound |
1 |
Rs.85.17 |
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Euro |
1 |
Rs.69.53 |
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.