MIRA
INFORM REPORT
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Report Date : |
03.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SMART FAITH |
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Registered Office : |
Rm 3611, 36/F, |
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Country : |
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RATING & COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined |
name & address
SMART FAITH
RM 3611, 36/F,
TEL : N/A
FAX : N/A
Narrative report
This refers to a type of report whose format is different from that of a
standard report. Such type of report is provided when:
l
Information obtained is insufficient for compiling
a standard report.
l
The enquired co has been out of business or its
business address has been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its credit
standing.
Our current search indicates no such co. spelt as SC is on the
incorporated companies list in Companies Registry.
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 filed by SC for the last 2 years. In
Civil litigation/winding-up petitions : None
in our database.
SC declined to release its management background details at present.
Detailed information regarding its activities is not available.
SC is not known to have any subsidiary at present.
A visit to the premises at the heading business address by our field reporter
revealed the following:
The address is a commercial premises outside of which SC's name was not
seen on display. Instead, the following
co. name was seen on display:
- Pearl Oriental Innovation Ltd.
The gross area of the premises is estimated at 2,500 square feet.
Condition inside the premises during our visit:
Office/factory outlay: Standard
The premises is occupied as office by Pearl Oriental Innovation Ltd.
which is engaged in provision of logistic services.
Our reporter then contacted a female who identified herself as staff
member of the said co.
She confirmed that SC has maintained a correspondence office there but
declined providing further information.
She had promised to pass our message & deliver our brochure &
questionnaire to SC's principal(s).
However, we have not yet received any reply.
Our current inquiry reveals that no such name as SC is registered as a
current user of local fixed line telephone companies.
Our search indicated that the contact points of Pearl Oriental
Innovation Ltd. are as follows:
- Tel: 852-22550688
- Fax: 852-28513660
Through a phone contact to the said tel no. we managed to contact Ms.
Chan who identified herself as the staff member of Pearl Oriental Innovation
Ltd.
She provided the following information:
- SC was incorporated in BVI. but has maintained no business
registration (as an oversea co. in HK)
- SC is one of the many cos. whose logistic affairs being handled by
them
- The heading address is SC's correspondence address
Despite having exhausted all our effort, we are unable to obtain
sufficient information to assess SC's credit standing.
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%)