MIRA
INFORM REPORT
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Report Date : |
10.08.2007 |
IDENTIFICATION DETAILS
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Name : |
BALCON LTD |
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Registered Office : |
13FL Chun Wo Commercial Centre |
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Country : |
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Date of Incorporation : |
February 26, 2004 |
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Com. Reg. No.: |
0885030 |
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Legal Form : |
RATING & COMMENTS
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MIRAs 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 : |
Offshore Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
BALCON LTD
13FL CHUN WO COMMERCIAL CENTRE
TEL : 852 25456525
FAX : 852 28540460
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 26, 2004
REGISTRATION NO. :
0885030
CHIEF EXECUTIVE :
SUBHASH DUDANI (DIRECTOR)
STAFF STRENGTH :
N/A
CAPITAL :
US$ 1,023,018
BUSINESS LINE :
N/A
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT : N/A
RECOMM.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : N/A
EXCHNAGE RATE :
HKD 7.8282 = US$1 AS OF 2007-8-9
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD
*Company Registration*
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License number : 0885030
Date issued : 26
February, 2004
Issuing authority : Companies Registry
Legal form : Private
Limited Company
Type of license : Corporate
License number : 34353730
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Capital Details*
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Authorized capital : HKD 8,000,000.00 divided into 8,000,000 ordinary
shares at HKD 1.00/-each, fully paid
*Reputation*
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Due to the fact that the subject company :
(i) Does not maintain an
operational office in
(ii) There is no knowledge or public record of overseas business
activities
It has not been possible to ascertain the reputation of the company.
*Approved Signatures*
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Only Mr. Subhash Dudani can sign on behalf of the company with seal
affixed.
E-mail : pyhlam@netvigator.com
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders
: 2
Total number of ordinary shares :
8,000,000
Shareholders' Name No. of Ordinary
Shares Amount of Shares (HKD) % of Shares
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Subhash Dudani
4,000,000
4,000,000.00
50.00
Parneshwar Vyas
4,000,000
4,000,000.00 50.00
*Director's Details*
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Subhash Dudani
Overseas Passport no. : Z1226665
Address : 10C
Shareholders' Details
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Parneshwar Vyas
Address :
10C
*Company Secretary*
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SINCERE SECRETARIES LTD
Address : 13Fl Chun Wo Commercial Centre
CR no.
: 109535
*Operation Status*
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Although the company is a legally registered business entity, it does not
maintain an Operational office, nor any employees in this country, but rather
employs the services of a local firm engaged in corporate secretarial
management services to "maintain" company licenses on behalf of
owners who are located overseas.
The management services usually involves registering the office address
as the same one used by the firm employed to "maintain" the license,
as well as receive any mail address to the company, forward any mail to the
owners, attend to license renewals, corporate levies and related issues.
The local firm employed to perform maintenance for this company is:
Company name : SINCERE
SECRETARIES LTD
Address : 13Fl Chun Wo
Commercial Centre
Suburb : Central
City :
SC is not known to have any subsidiary at present.
PAYMENT RATING : NR OBTAINED SCORES : No Data
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Implication |
Implications |
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1 |
Scores 85100 |
Excellent |
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2 |
Scores 75 84 |
Above Average |
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3 |
Scores 50 74 |
Average |
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4 |
Scores 35 49 |
Fair |
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5 |
Scores 15 34 |
Below Average |
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6 |
Scores 01 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Under
SC is an offshore entity and it does not maintain an operational office,
nor any employees in this country. Great caution is required in providing
credit to SC and COD is recommended.
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. |
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 SCs 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%)