MIRA
INFORM REPORT
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Report Date : |
20.07.2007 |
IDENTIFICATION DETAILS
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Name : |
LEAD CO. LTD. |
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Registered Office : |
OMC
Chamber, R. Hodge Plaza, 2nd. Floor, |
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Country : |
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Date of Incorporation : |
1993 |
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Legal Form : |
IBC / International Business Company |
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Line of Business : |
Finance
& Investment Company |
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 |
Company's style
LEAD CO. LTD.
Trade Name
Same
Trading Address
OMC Chamber, R. Hodge Plaza, 2nd. Floor,
Town :
Island :
Mailing address :
Telephone :
(284)494 4693
Fax :
(284)494 4627
Country
:
BACKGROUND INFORMATION & BUSINESS
PROFILE
LEGAL DATA
Legal form : IBC/International
Business Company
Date established : 1993
REGULATORY
FRAMEWORK: The
British Virgin Islands ("BVI") are a British Colony located in the
BVI International
Business Companies (IBCs) are the off-shore companies with a great number of
advantages, such as:
1)
Exemption from payment of any income tax;
2)
Can conduct most business transactions
(except conducting banking and insurance activities and other businesses with
residents of the BVI; or to possess real estate in BVI);
3)
Requires a minimum of only one shareholder
and one director;
4)
The directors and shareholders can be
entities or individuals resident in any country;
5)
The shares can be issued to the bearer or
registered;
6)
The Board of Directors can meet in any
part of the world and even by telephone;
7)
The payment of minimum capital is not
required, and the shares can be issued at par or non par value;
8)
The names of the Directors, Officers and
shareholders do not need to be registered in a public record
9)
No need to file annual reports nor tax
returns;
10)
Can transfer its domicile and continue
existing as a company incorporated under the laws of a jurisdiction outside of
BVI; a foreign company can also become a BVI IBC;
11)
Neither the minutes book nor the shares
book need to be certified by any authority of BVI;
12)
It is not necessary to carry out Directors
or shareholder meetings on a regular basis.
13)
The name of the company must include the
word 'Limited', 'Corporation' or 'Incorporation', or the abbreviation 'Ltd.',
'Corp.', 'Inc.' or 'S.A.'. Names in Chinese characters may also be recorded.
14)
It is not necessary to issue shares of the
company, unless the Board of directors decides so. The shares should be paid in
full at the time of issuance, and they can be issued for money, services or
properties received. The name of the shareholder must be registered in the
shares book, which is not open to the public. The meetings of the shareholders
will be conducted whenever the Directors consider it necessary or desirable or
through written request of the shareholders that represent more than 50% of the
votes. The resolutions of the shareholders can be approved by telephone or in a
duly convened meeting, and they can also be adopted through written consent.
The company must have a registered office and agent in BVI.
1)
The IBC can be dissolved by resolution of
the Board of directors, if no shares have been issued. In case that the shares
have been issued, the company must be dissolved through a shareholders
resolution.
2)
All the dividends, interest, rents,
royalties, compensations and other amounts paid by company established under
the IBC Act to persons that are non-residents of BVI are exempt from payment of
income tax. The capital gains earned from the sale of whatever shares or other
securities of an IBC are also exempt from payment of any tax.
CAPITAL STRUCTURE : AUTHORIZED NOMINAL
CAPITAL : USD 50.000
ISSUED CAPITAL :
USD 50.000
PAID-IN CAPITAL :
USD 50.000
Its stock is
divided into bearer and ordinary no par-value shares. It is a privately-owned
company whose shares are no traded on the Stock Exchange, and whose controlling
shareholders are
undisclosed foreign investors. The total investor's anonimity and
business secrecy is granted by the
REGISTRATION AGENT: OVERSEAS MANAGEMENT CO. (B.V.I.) LIMITED
It is a law firm hired by subject's
foreign owners to run the company on their behalf. Such agent was consulted
about the identity of subject's foreign owners, but he declined to disclose
such information arguing not to be authorized by them to provide any data about
the company
LINE OF BUSINESS :
FINANCE & INVESTMENT COMPANY
Subject has the
following purposes and objects: The principal object is to engage either in the
Virgin Islands or abroad, in the purchase, sell, disposal, dealing, transfer,
barter, ownership, negotiate, finance, administration to grant guaranties in
favor of obligation of third parties with or without mortgage or pledge of the
corporation assets, give or borrowing money in loan, giving or taking in
commission, mortgage, security, lease, use, usufruct, or receivership, any kind
of property, whether real or personal stock or rights, and make and accept all
kinds of deals, contracts, operations, business and transactions of lawful
commerce.
The corporation
could engage also in fullfilling all activities, contracts, operations,
business or transactions allowed by Law to the Corporation.
In particular it is engaged in financial
intermediation operations, participation in overseas companies, shareholdings,
overseas investments in general, etc.
According to informed by subject's
resident agent, it is legally registered in the
It means that subject uses the
It is under the
same condition as many companies that are established in the
Subject's annual
business volume is not disclosed by its Resident Agent.
STAFF :
nil. It uses the registration agent's staff
BANKERS : No bank relations in BVI
TANGIBLE FIXED ASSETS, INVESTMENTS, ETC.
PHYSICAL ASSET HOLDINGS : No properties in the
CREDIT STANDING
TRADE
REFERENCES SURVEY
: In virtue of the nature of its business activities its local transactions are
seldom. Therefore, commercial sources consulted in the marketplace report that
they are unable to establish subject's payment performance and general
reputation regarding commitments contracted as same it is UNKNOWN as making use of credit facilities.
Negative facts : Nothing detrimental. No
collection claims, returned checks, or legal suits are recorded against
subject.
FINAL OPINION
We are reporting
upon a finance & investments company which belongs to undisclosed foreign
shareholders. Although it is registered in the
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%)