MIRA INFORM REPORT

Report Date :

04.08.2012

IDENTIFICATION DETAILS

Name :	JIFUK METAL & MACHINERY CO. LTD.

Registered Office :	Unit 5, 13/F Wah Chun Industrial Centre, 95 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong

Country :	Hong Kong

Date of Incorporation :	27.10.1989

Com. Reg. No.:	13129362

Legal Form :	Private Limited Company

Line of Business :	Importer and Exporter of All kinds of Tools and Machinery and Equipment, etc

No. of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Good
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, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Hong Kong

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

JIFUK METAL & MACHINERY CO. LTD.

ADDRESS

Unit 5, 13/F Wah Chun Industrial Centre, 95 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong.

PHONE: 2490 6378

FAX: 2415 9583

E-MAIL:info@jifuk.com

MANAGEMENT

Managing Director: Mr. Lam Hing Tung

SUMMARY

Incorporated on: 27th October, 1989.

Organization: Private Limited Company.

Capital: Nominal: HK$1,500,000.00

Issued: HK$1,500,000.00

Business Category: Machinery Trader.

Employees: 20.

Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.

Banking Relation: Good.

Company name

JIFUK METAL & MACHINERY CO. LTD.

ADDRESS

Registered Head Office:-

Unit 5, 13/F Wah Chun Industrial Centre, 95 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong.

Associated Companies:-

Shenzhen Jifuk Metal & Machinery Co. Ltd.

No. 7, Sec. 2 Hebei Mu Mian Wan Village, Bu Ji Town, Shenzhen, China.

[Tel: 0755-888 1645, 0755-820 3153

Fax: 2755-888 2132]

Dongguan Jifuk Metal & Machinery Co. Ltd.

Fu Hai Road, Xiagang North, Chang’an Town, Dongguan City, Guangdon Province, China.

[Tel: 0769-541 9045, 0769-533 0667

Fax: 0769-541 9045]

BUSINESS REGISTRATION NUMBER

13129362

COMPANY FILE NUMBER

0265248

MANAGEMENT

Managing Director: Mr. Lam Hing Tung

CAPITAL

Nominal Share Capital: HK$1,500,000.00 (Divided into 100 shares of HK$15,000 each)

Issued Share Capital: HK$1,500,000.00

SHAREHOLDERS

(As per registry dated 27-10-2011)

Name		No. of shares
LAM Hing Tung		30
LAM Tak Chuen		35
LAM Tak Chu		35
		–––
	Total:	100 ===

DIRECTORS

(As per registry dated 27-10-2011)

Name (Nationality)	Address
LAM Tak Chuen	Unit D, 68/F., Tower 3, Vision City, 1 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong.
LAM Tak Chu	Unit D, 68/F., Tower 5, Vision City, 1 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong.
LAM Hing Tung	Flat B, 15/F., Block 5, Villa Esplanada, 8 Nga Ying Chau Street, Tsing Yi, New Territories, Hong Kong.

SECRETARY

LAM Hing Tung (As per registry dated 27-10-2011)

HISTORY

The subject was incorporated on 27th October, 1989 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 tools and machinery and equipment, etc.

Employees: 20.

Commodities Imported: China, other Asian countries, etc.

Markets: China, Taiwan, Japan, other Asian countries, etc.

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C, T/T, D/P, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$1,500,000.00 (Divided into 100 shares of HK$15,000 each)

Issued Share Capital: HK$1,500,000.00

Mortgage or Charge (since 1991): (See attachment)

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: Bank of China (Hong Kong) Ltd., Hong Kong.

Standing: Good.

GENERAL

Having issued 100 ordinary shares of HK$15,000.00 each, Jifuk Metal & Machinery Co. Ltd. is jointly owned by Mr. Lam Hing Tung, holding 30% interests; Mr. Lam Tak Chuen, holding 35%; and Mr. Lam Tak Chu, also 35%.

The subject supplies wide ranges of products for mould & die casting industries, the items including of mould parts, cutting mills, diamond tools, grinding tools, precision machine tools accessories, tool bits and others.

The subject also exports its tools and machinery to Japan, Taiwan and the other Asian countries, etc.

The subject has had the following two branches:

Shenzhen Jifuk Metal & Machinery Co. Ltd. [Shenzhen Jifuk]

Dongguan Jifuk Metal & Machinery Co. Ltd.

The subject’s products are imported from Japan, the United States, Taiwan, etc. China is one of its prime markets. Business is rather active.

Currently, Shenzhen Jifuk has about 15 employees.

The subject is operated by the Lam family.

As the history of the subject is over 22 years in Hong Kong, on the whole, consider it good for normal business engagements.

MORTGAGE OR CHARGE

(Since 1991)

Date	Particulars	Amount
28-03-1991	Instrument: Legal Charge Property: 7/956th parts or shares of and in The Remaining Portion of Tsuen Wan Inland Lot No. 45 (Unit 6 on 16/F. of Wah Chun Industrial Centre, 95 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong.) Mortgagee: Hua Chiao Commercial Bank Ltd., Hong Kong. [Merged into Bank of China (Hong Kong) Ltd.]	To secure all sums from time to time advanced and outstanding together with interest thereon and all other moneys and obligation
08-11-1991	Instrument: Legal Charge Property: 8/956th parts or shares of and in The Remaining Portion of Tsuen Wan Inland Lot No. 45 (Unit 5 on 14/F. of Wah Chun Industrial Centre, 95 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong.) Mortgagee: Hua Chiao Commercial Bank Ltd., Hong Kong. [Merged into Bank of China (Hong Kong) Ltd.]	To secure all sums from time to time advanced and outstanding together with interest thereon and all other moneys and obligation
28-08-1992	Instrument: Legal Charge Property: 7/956th parts or shares of and in The Remaining Portion of Tsuen Wan Inland Lot No. 45 (Unit 2 on 20/F. of Wah Chun Industrial Centre, 95 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong.) Mortgagee: Hua Chiao Commercial Bank Ltd., Hong Kong. [Merged into Bank of China (Hong Kong) Ltd.]	To secure all sums from time to time advanced and outstanding together with interest thereon and all other moneys and obligation
29-09-1993	Instrument: Legal Charge Property: 18/956th parts or shares of and in The Remaining Portion of Tsuen Wan Inland Lot No. 45 (Unit 2, 3 and 4 on 13/F. and Carpark No. C8 on G/F. of Wah Chun Industrial Centre, 95 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong.) Mortgagee: Hua Chiao Commercial Bank Ltd., Hong Kong. [Merged into Bank of China (Hong Kong) Ltd.]	To secure all sums from time to time advanced and outstanding together with interest thereon and all other moneys and obligation

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.08
UK Pound	1	Rs.87.03
Euro	1	Rs.68.36

INFORMATION DETAILS

Report Prepared by :

SHG

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.