MIRA INFORM REPORT

 

 

Report Date :

09.03.2012

 

IDENTIFICATION DETAILS

 

Name :

SUNG  BO  ENTERPRISE  CO.

 

 

Registered Office :

Room 501, 5/F., Grand Business Plaza, 153 Wai Yip Street, Kwun Tong, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

09.11.2005

 

 

Com. Reg. No.:

36178784-000-11

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of acrylic products, etc.

 

 

No. of Employees :

6

 

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 30, 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 and address

 

SUNG  BO  ENTERPRISE  CO.

 

 

ADDRESS:       Room 501, 5/F., Grand Business Plaza, 153 Wai Yip Street, Kwun Tong, Kowloon, Hong Kong.

 

PHONE:            2332 5185

 

FAX:                 2771 6678

 

E-MAIL:                        info@china-acrylic.com

siaolim@yahoo.com

 

 

MANAGEMENT

 

Manager:  Ms. Lam Siu Ming, Liza

 

 

SUMMARY

 

Establishment:                          9th November, 2005.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Annual Turnover:            HK$8~10 million.

 

Employees:                   6.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Head Office:-

Room 501, 5/F., Grand Business Plaza, 153 Wai Yip Street, Kwun Tong, Kowloon, Hong Kong.

 

Associated Companies:-

China Acrylic Manufacturing Ltd., Hong Kong.  (Same address)

Siao Lim Ltd., Hong Kong.  [Dissolved]

Tien Lun Industrial Co. Ltd., Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

 36178784-000-11

 

 

MANAGEMENT

 

Manager:  Ms. Lam Siu Ming, Liza

 

 

SOLE PROPRIETOR

 

Name:  Ms. LAM Siu Ming

Residential Address:      Room 508, 5/F., Yiu Ping House, Yiu On Estate, Ma On Shan, Shatin, New Territories, Hong Kong.

 

 

HISTORY

 

The subject was established on 9th November, 2005 as a sole proprietorship concern owned by Ms. Lam Siu Ming under the Hong Kong Business Registration Regulations.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of acrylic products, etc.

 

Employees:                   6.

 

Materials/Commodities:              Imports raw materials from European countries, some of the Asian countries and finished products from China.

 

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

 

Annual Turnover:                        HK$8~10 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:                      Small.

 

 

GENERAL

 

Sung Bo Enterprise Co. is a sole proprietorship set up on and owned by Ms. Lam Siu Ming who is a Hong Kong businesswoman.

The subject specialized in manufacturing and exporting high quality acrylic products.

The subject has had an associated company China Acrylic Manufacturing Ltd. [China Acrylic], a Hong Kong-registered firm located at its operating office.  The subject and China Acrylic are engaged in the same lines of business.  China Acrylic was incorporated in 2004.

The subject has had another associated company Tien Lun Industrial Co. Ltd. located at the same operating address.  The subject’s main products are crystallite products, specialized in manufacturing gifts, stationery, acrylic photo frames, key ring holders, ashtrays, watch-displays, stands for cosmetic displays, menu holders and other various acrylic advertising products.  The subject also receives OEM orders.

The subject’s factory is in Shenzhen Special Economic Zone, China employing about 50 persons.  The legal representative of the factory is also Lam Siu Ming.  Products are exported to Japan, other Asian countries, Western Europe and North America, etc.

The annual sales turnover of the subject ranges from HK$8 to 10 million.  Making a small profit every year.

As the history of the subject is about six years and four months in Hong Kong, on the whole, consider it good for normal credit requirements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.57

UK Pound

1

Rs.79.57

Euro

1

Rs.66.49

 

 

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.