MIRA INFORM REPORT

 

 

Report Date :

21.06.2012

 

IDENTIFICATION DETAILS

 

Name :

WEALTH  SEAFOOD  CO.  LTD.

 

 

Registered Office :

Room 8, 9/F., Harry Industrial Building, 49-51 Au Pui Wan Street, Fotan, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

30.05.2000

 

 

Com. Reg. No.:

31205546

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Seafood Trader of all kinds of frozen aquatic products, frozen meat, etc.

 

 

No. of Employees :

05

 

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 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

 

WEALTH  SEAFOOD  CO.  LTD.

 

 

Company ADDRESS

 

Room 8, 9/F., Harry Industrial Building, 49-51 Au Pui Wan Street, Fotan, New Territories, Hong Kong.

PHONE:            2687 6511

FAX:                 Not available

 

 

MANAGEMENT

 

Managing Director:  Mr. Chan Ka Wai

 

 

SUMMARY

 

Incorporated on:             30th August, 2000.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$500,000.00

Issued:              HK$500,000.00

 

Business Category:        Seafood Trader.

 

Employees:                   5.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 8, 9/F., Harry Industrial Building, 49-51 Au Pui Wan Street, Fotan, New Territories, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

31205546

 

COMPANY FILE NUMBER

 

0729290

 

 

MANAGEMENt

 

Managing Director:  Mr. Chan Ka Wai

 

 

CAPITAL

 

Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$500,000.00

 

 

SHAREHOLDERS

(As per registry dated 30-08-2011)

 

Name

 

No. of shares

CHAN Ka Wai

 

400,000

LEE Pik Kei, Alice

 

100,000

 

 

–––––––

 

Total:

500,000

======

 

 

DIRECTORS  

 

(As per registry dated 30-08-2011)

Name

(Nationality)

 

Address

LEE Pik Kei, Alice

Room 8, 9/F., Harry Industrial Building, 49-51 Au Pui Wan Street, Fotan, New Territories, Hong Kong.

 

CHAN Ka Wai

Room 8, 9/F., Harry Industrial Building, 49-51 Au Pui Wan Street, Fotan, New Territories, Hong Kong.

 

 

SECRETARY

 

CHAN Ka Wai  (As per registry dated 30-08-2011)

 

 

HISTORY

 

The subject was incorporated on 30th August, 2000 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:                      Seafood Trader.

 

Lines:                           All kinds of frozen aquatic products, frozen meat, etc.

 

Employees:                   5.

 

Commodities Imported:   Indonesia, Singapore, Thailand, China, etc.

 

Markets:                       Hong Kong, Japan, China, North America, etc.

 

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

 

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

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$500,000.00

 

Profit or Loss:                Making a small profit every year.

 

Condition:                       Keeping in a normal condition.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Normal.

 

 

GENERAL

 

Having issued 500,000 ordinary shares of HK$1.00 each, Wealth Seafood Co. Ltd. is jointly owned by Mr. Chan Ka Wai, holding 80% interests; Ms. Lee Pik Kei, Alice, holding 20%.  Being Hong Kong merchants, they are also directors of the subject.

The subject is a frozen seafood trader.  It mainly trades in frozen shrimp and fish products.

The subject also sells its products online.  It sells the following main frozen aquatic products:-

·         Sea Fish, Fresh Water Fish, Fish Fillet, Fish Bone;

·         Squid, Cuttlefish, Octopus, Crab, Others; &

·         Special Limited Seafood & BBQ.

The following firms are its main suppliers:-

·         Hai Sia Seafood Supplies;

·         JRF Marine Co. Ltd.;

·         Kelola Mina Laut, PT.;

·         Nippon Suisan (Singapore) Pte. Ltd.;

·         Ocean Harvest Co., Ltd.;

·         PT Centralpertiwi Bahari;

·         Frozen Seafood Processing & Export;

·         PT Lesa Foods;

·         PT. Satu Tiga Enam Delapan;

·         PT. Suri Tani Pemuka;

·         Shenzhen Boguang Tianxing Foods Co. Ltd.;

·         PT. Seafer General Foods;

·         Sea Gull Frozen Foodstuffs SDN. BHD.;

·         Unistate Sea Food(s) SDN. BHD.;

·         Guangzhou Fishery Industry & Commerce General Company;

·         Ika Muda Internationa;l

·         Jen-Hui International Enterprise Co. Pte. Ltd.;

·         PT. Sekar Bumi;

·         PT. Centralwindu Sejati;

·         PT. Lautan Niaga Jaya;

·         PT. Sekar Katokichi;

·         PT. Sumber Pangan Nusantara;

·         Thai Agri Foods Co. Ltd.

Most of the companies are in China, Thailand, Cambodia, Indonesia, etc.

The business of the subject is rather active.  Regular customers have been maintained.

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.86

UK Pound

1

Rs.87.93

Euro

1

Rs.70.88

 

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.