MIRA
INFORM REPORT
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Report Date : |
28.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
BLUE SQUARE LTD. |
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Registered Office : |
Unit 5-10, 9/F, Tower 1, Ever Gain Plaza, 88 Container
Port Road, Kwai Chung, N.T. |
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Country : |
Hong Kong |
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Date of Incorporation : |
6-9-1999 |
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Com. Reg. No.: |
687676 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of gift & premium items. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Up To USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
BLUE SQUARE LTD.
UNIT 5-10, 9/F, TOWER 1, EVER GAIN PLAZA,
88 CONTAINER PORT ROAD, KWAI CHUNG, N.T., HONG KONG.
TEL : 852 23108873
FAX : 852 23101866
EXECUTIVE SUMMARY
INCORPORATION DATE :
6-9-1999
REGISTRATION NO. :
687676
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : DUCREUX CECILE (MANAGING DIRECTOR)
STAFF STRENGTH :
25
AUTHORIZED CAPITAL :
HK$10,000 = 10,000 SHARES @ HK$1.-
PAID-UP
CAPITAL : HK$10,000
BUSINESS LINE :
TRADING OF GIFT & PREMIUM ITEMS
TURNOVER :
HK$30M (YEAR ENDED 31-3-2005)
EQUITIES :
N/A (YEAR ENDED 31-3-2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 100,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81306 = USD1 AS OF 2007-03-28
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
SC is a private limited company registered under incorporation file no.
687676 on 6-9-1999.
SC moved to the heading address from Unit A-C, 27/F, Easy Tower, 609-611
Tai Nam West St., Cheung Sha Wan, Kowloon, HK.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 6-9-2006) Number
of shares held
- Ducreux Cecile 9,999
- AccPro Corporate Consultancy Ltd. 1
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10,000
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Directors (as at 6-9-2006)
- Ducreux Cecile / P457717(9)
- AccPro Solutions Ltd.
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
No material change or amendment regarding SC has been traced & noted
within last 2 years.
Total number of employees : 25.
Location : Maintaining
its office & showroom at the heading business address which occupies a gross
area of 2,600 square feet at a commercial & industrial building in an
industrial district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
Ducreux Cecile, managing director & founder:
- In her mid 50's
- Embarked upon her career to present field as a small businesswoman in
her mid 20's
- She was formerly director of Ocean (HK) Ltd.
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Unit B, 10/F, Grand Bowen, 11B Bowen
Road, HK.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Crown Access Ltd.
- Date of purchase & consideration : 31-5-2003 / $26,322,600
- Date of mortgage & secured amount : NA
- Mortgagee : NA
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
AccPro Solutions Ltd., corporate director:
- Registered address: Rm 1304, C C Wu Bldg., 302-308 Hennessy
Road, Wanchai, HK.
- Civil litigation & winding-up petition records: None in our database
Ownership background appraisal:
Rating : 2 Obtained scores : 63 (see explanatory notes
below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors
which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
During our report preparation, the principals could not be contacted
while the staff members hesitated to release financial information without the
principals' consent.
Sources indicated that SC's turnover for the year ended 31-3-2005 was
$30M.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 6-9-2005 was nil.
Banking relations are maintained principally with: HSBC.
This section will contain the civil litigations & winding-up
petitions filed against SC for the last 6 years (as stored in our database),
and the mortgage/charge records filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : None filed since its incorporation date.
Overall payment appraisal :
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment records and our debt collection record concerning SC.
Trade payment
experience : A trade enquiry currently
conducted with SC's supplier(s) reveal the following:
First Second
Type of supplies : Merchandise
Time known : 4 years
Selling terms : Net
30 days
Total purchases (last 6 months) : HK$200,000
Present balance : HK$40,000
Payment record : 3
Payment record keys : 1 = Prompt : Payment made
before the credit period expires
2
= As agreed terms : Payment made upon due
date
3
= Slightly slow but acceptable : Payment
made 5 to 20 days beyond agreed terms
4
= Slow : Payment made 16 to 45 days beyond
agreed terms
5
= Poor : Payment made over 45 days beyond
agreed terms
6 = Payment slowing down : Payment formerly prompt
but slowing down in recent months
7 = No comment : Account is newly opened &
record is not yet established
Note : In
some instances, payment beyond terms can be the result of disputes over
merchandise, lost invoices, disputed accounts & etc.
Delinquent
payment record : None in our database.
Debt
collection record : No overdue
amount owed by SC was placed to us for collection within the last 6 years.
Business categories :
SC is engaged in trading of gift & premium items.
Items available include electronic clocks & watches, metal
calculators, barware, metal badges, key chains, key holders, stationery,
imitation jewellery & souvenirs.
Principal purchases :
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Distributors
& manufacturers
Buying
terms : Credit
of 14 to 30 days
Overseas--supplying
countries : PR China
Buying
terms : T/T
& D/P
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : India, Japan, Australia,
Middle East, Europe & Scandinavia
Selling
terms : T/T, L/C
& D/A
SC is
not known to have any subsidiary at present.
SC is considered medium-sized in its line
locally with acceptable base to meet its normal dealings. Credit up to moderate
amount may be considered.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)