MIRA INFORM REPORT

 

 

Report Date :

29.06.2012

 

IDENTIFICATION DETAILS

 

Name :

MONTRADE  METAL  CO.  LTD.

 

 

Registered Office :

G/F., 209 Reclamation Street, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

13.10.2010

 

 

Com. Reg. No.:

53103922

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter, Wholesaler and Retailer of Iron and steel product, hardware, etc.

 

 

No. of Employees :

03

 

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

 

MONTRADE  METAL  CO.  LTD.

 

 

Company ADDRESS

 

G/F., 209 Reclamation Street, Kowloon, Hong Kong.

PHONE:            2771 1535

FAX:                 2782 4135

 

 

MANAGEMENT

 

Managing Director:  Mr. Leung Lok

 

 

SUMMARY

 

Incorporated on:             13th October, 2010.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Importer, Exporter, Wholesaler and Retailer.

 

Employees:                   3.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office & Shop:-

G/F., 209 Reclamation Street, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

53103922

 

 

COMPANY FILE NUMBER

 

1514785

 

 

MANAGEMENT

 

Managing Director:  Mr. Leung Lok

 

 

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 13-10-2011)

 

Name

 

No. of shares

LEUNG Lok

 

2,500

LAI Ling

 

2,500

LEUNG Shuk Han

 

2,000

LEUNG Yiu Kuen

 

1,500

LEUNG Yiu Sum

 

1,500

 

 

––––––

 

Total:

10,000

=====

 

DIRECTOR    

(As per registry dated 13-10-2011)

 

Name

(Nationality)

 

Address

LEUNG Lok

Flat 1318, 13/F., Block A, Hoi Fu Court, Mongkok, Kowloon, Hong Kong.

 

SECRETARY 

(As per registry dated 13-10-2011)

 

Name

Address

LEUNG Shuk Han

Flat 1318, 13/F., Block A, Hoi Fu Court, Mongkok, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 13th October, 2010 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, Exporter, Wholesaler and Retailer.

 

Lines:                           Iron and steel product, hardware, etc.

 

Employees:                   3.

 

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

 

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

 

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

 

Terms/Buying:               L/C, etc.

MEMBERSHIP

 

Hong Kong Metal Merchants Association, Hong Kong.

[Membership No. M-014]

 

 

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:                Keeping a balance account.

 

Condition:                      Business is improving.

 

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:                      Normal.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Montrade Metal Co. Ltd. is jointly owned by five merchants who belong to the Leung family.  The subject is jointly owned by Mr. Leung Yiu Kuen and Mr. Leung Yiu Sum while each of them is holding 15%.  Mr. Leung Lok and Ms. Lai Ling, each of them is holding 25%.  The balance of the 20% is held by Ms. Leung Shuk Han.

The subject is engaged in importing and wholesaling the following commodities:

·         Hardware;

·         Metal Products; &

·         Iron and Steel Materials.

Commodities are imported from China, India, Russia, etc.  Prime markets are Hong Kong, the other Asian countries, etc.

The subject is a member of The Hong Kong Metals Manufacturers Association, a Hong Kong-registered association.

The registered address of the subject is also a retailing outlet.  Business is normal.  History in Hong Kong is about a year and nine months.  Business is still under development.

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

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.81

UK Pound

1

Rs.86.53

Euro

1

Rs.68.58

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.