MIRA
INFORM REPORT
|
Report Date : |
05.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
ASIA LEATHER CONCEPT LTD |
|
|
|
|
Formerly Name: |
Kitayamachi Trading Co. Ltd |
|
|
|
|
Registered Office : |
Rm A 14 Fl Amtel Commercial Bldg |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
31.12.1982 |
|
|
|
|
Com. Reg. No.: |
0120281 |
|
|
|
|
Legal Form : |
Offshore Company - Private Limited |
|
|
|
|
Line of Business : |
Corporate secretarial management services |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME &
ADDRESS
ASIA LEATHER CONCEPT LTD
RM A 14FL AMTEL COMMERCIAL BLDG 144-148 DES VOEUX RD
CENTRAL HONG KONG
TEL:852-31051488
FAX:852-31051498
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 31, 1982
REGISTRATION NO. :
0120281
LEGAL FORM :
OFFSHORE COMPANY - PRIVATE LIMITED
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
N/A
CAPITAL :
US$ 128
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 :
N/A
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
N/A
GENERAL REPUTATION :
N/A
EXCHANGE RATE :
HKD 7.81190 = US$1 AS OF
The Subject Business Entity does NOT maintain an operational office at
the address listed above. The office located at the address above (including
telephone and fax numbers) is operated and managed by a firm specializing in
Corporate Secretarial /
The name of the Corporate Secretarial /
MAYOUNG LTD
*Company Registration*
===================
License number : 0120281
Date issued : 31 December, 1982
Issuing authority : Companies Registry
Type of license : National Company License
License number : 08221672-000
Date issued : N/A
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : National Business License
*Company Name*
=============
Incorporated as : KITAYAMACHI TRADING CO LTD
Date of incorporation : 31
December, 1982
Changed name to : ASIA LEATHER CONCEPT LTD
Date of change : 27 July, 2001
*Capital Details*
=============
Authorized capital : HKD
1,000.00 divided into 2 ordinary shares at HKD 20.00/-each, fully paid
*Corporate & Organization Structure*
=============================
Corporate Management
---------------------------------
LECONFIELD INT'L LTD
Position held : Director
JANFAITH LTD
Position held : Director
*Reputation*
===========
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*
===================
Only MAYOUNG LTD can sign on behalf of the company with seal affixed.
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*
=================
Total number of shareholders :
2
Total number of shares : 2
Shareholders' Name No. of shares % of shares
--------------------------
-------------------
-----------------
JANFAITH LTD
1 50.00
LECONFIELD INT'L LTD
1 50.00
*Company Secretary*
=================
MAYOUNG LTD
Address : Rm A 14Fl Amtel Commercial Bldg
CR No. : 669078
SC declined to release its management details at present.
*Operations Status*
===============
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 : MAYOUNG
LTD
Address : Rm A 14Fl Amtel Commercial Bldg
Suburb : Central
City :
SC is not known to have any subsidiary at
present.
PAYMENT RATING : No Data OBTAINED SCORES : No Data
|
Rating Key |
Implication |
Implications |
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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.
Dealings on open terms may be possible for C.O.D. amounts depending on individual judgement experience.
*Bank Details*
===========
Bank name : INDUSTRIAL &
COMMERCIAL BANK OF CHINA (ASIA) LTD
Branch : Central,
Swift code : UBHKHKHH
In view of our finding of SC's principals & SC's operation style, great
caution is required in providing credit to SC & COD is recommended. A good
many circumstances point to necessity for great caution in crediting SC.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)