MIRA INFORM REPORT

 

 

Report Date :           

03.03.2012

 

IDENTIFICATION DETAILS

 

Name :

MERCANTILE  TRADERS  CORPORATION

 

 

Registered Office :

Room 810, 8/F., Kowloon Plaza, 485 Castle Peak Road, Lai Chi Kok, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.11.1967

 

 

Com. Reg. No.:

02352568-000-11

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Importer, Exporter and Manufacturer of Piecegoods, garments, etc.

 

 

No. of Employees :

08

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

MERCANTILE  TRADERS  CORPORATION

 

 

Company ADDRESS

 

Room 810, 8/F., Kowloon Plaza, 485 Castle Peak Road, Lai Chi Kok, Kowloon, Hong Kong.

PHONE:                        2730 6823

FAX:                 2375 0151

E-MAIL:                        enchief1967@yahoo.com

enchief1967@gmail.com

 

 

MANAGEMENT

 

Manager:  Mr. Yau Lai Tung, Tony

 

 

SUMMARY

 

Establishment:                          1st November, 1967.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Manufacturer.

 

Annual Turnover:            HK$50-55 million.

 

Employees:                   8.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

·         Room 810, 8/F., Kowloon Plaza, 485 Castle Peak Road, Lai Chi Kok, Kowloon, Hong Kong.

·         G.P.O. Box 4165, Central, Hong Kong.

 

Associated Companies:-

·         Boka Electronic Equipment (H.K.) Co. Ltd., Hong Kong.  [Dissolved]

·         Enchief (Asia) Industrial Ltd., Hong Kong.  (Same address)

·         Likai Merchandise Enterprises Ltd., Hong Kong.  [Deregistration]

 

 

BUSINESS REGISTRATION NUMBER

 

02352568-000-11

 

 

MANAGEMENT

 

Manager:  Mr. Yau Lai Tung, Tony

 

 

PARTNERS

 

Name:                           YAU Lai Tung, Tony

Residential Address:      1/F., 212 Argyle Street, Kowloon, Hong Kong.

 

Name:                           YAU Kai Hing, Henry

Residential Address:      Flat D, 20/F., 8 Glee Path, Mei Foo Sun Chuen, Stage 3, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 1st November, 1967 as a sole proprietorship concern owned by Mr. Choi Ho Kwan under the Hong Kong Business Registration Regulations.  Converted into a partnership firm since July 1972. The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

CHOI Ho Kwan

01-11-1967

28-05-1996

YAU Lai Tung, Tony

16-07-1972

-

YAU Kai Hing, Henry

03-10-2005

-

 

Formerly the suject was located at Room 612, 6/F., Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong, moved to Room 1012, 10/F., Bank Centre, 636 Nathan Road, Mongkok, Kowloon, Hong Kong in January 1997, to Room 501, 5/F., Kowloon Plaza, 485 Castle Peak Road, Lai Chi Kok, Kowloon, Hong Kong in August 2000, and further moved to Room 810, 8/F. of the same building in March 2008.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Manufacturer.

 

Lines:                           Piecegoods, garments, etc.

 

Employees:                   8.

 

Raw Materials:               Imported from India, Europe, etc.

 

Markets:                       China, other Asian countries, Europe, North America, etc.

 

Annual Turnover:            HK$50-55 million.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

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

 

Mercantile Traders Corporation is a partnership jointly owned by Mr. Yau Lai Tung, Tony and Mr. Yau Kai Hing, Henry, both of whom are Hong Kong merchants.

Business commenced in November 1967, the subject is trading in the following commodities:-

·         Piecegoods ‑ Vegetable Fibre

·         Fabric ‑ Cotton, Knitted

·         Piecegoods ‑ Synthetic

·         Fabric ‑ Synthetic, Knitted, Lycra and Spandex

·         Yarn ‑ Blended (Excluding Polyester/Cotton) (T/C)

·         Yarn ‑ Vegetable Fibre

·         Suit ‑ Ladies (OEM)

·         Dress and Skirt ‑ Children (OEM)

·         Shirt ‑ Children (OEM)

·         Shorts and Trousers ‑ Children (OEM), Blouses

·         Blouse ‑ Embroidered (OEM)

·         Blouse ‑ Plain (OEM)

·         Others ‑ Jeans (OEM), Dresses and Skirts (OEM), Shirts, Trousers (OEM), Slacks (OEM), Tee and Sweat Shirts (OEM)

·         Raw Cotton (Including cotton waste from China, India, Pakistan, Bangladesh)

·         Textile Waste (OEM)

Most of its commodities are exported to Western Europe and North America.  Business is rather active.

The subject has had an associated company Enchief (Asia) Industrial Ltd. [Enchief] which is also located at the same address.  Enchief is trading in chemicals, pigments & dyestuffs, directs dyes, etc.  Products are exported to Australia, Japan, South Korea, North America, Southeast Asia, Europe, etc.

The annual sales turnover of the subject ranges from HK$50 to 55 million.  Making a small profit every year.

As the history of the subject is over forty-four 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.49.35

UK Pound

1

Rs.78.68

Euro

1

Rs.65.63

 

 

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.