MIRA
INFORM REPORT
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Report Date : |
28.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHANNEL ACE (HK) LTD |
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Registered Office : |
Rm 715-716 Lippo Sun Plaza 28 Canton Rd, Tsimshatsui
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.12.2000 |
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Com. Reg. No.: |
740959 |
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Legal Form : |
Private |
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Line of Business : |
Believed to be engaged in trading jewelry. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
CHANNEL ACE (HK) LTD
RM 715-716 LIPPO SUN PLAZA 28 CANTON RD
TSIMSHATSUI KOWLOON, HONG KONG
TEL: 852-27591823
FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 11, 2000
REGISTRATION NO. :
740959
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SAI-CHEUNG CHAN
STAFF STRENGTH :
N/A
CAPITAL :
US$ 1,287
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : COD TO
SMALL AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : FAIR
EXCHANGE RATE :
HKD 7.81323 = US$1 AS OF 2007-2-28
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
*Company Registration*
===================
(1)
License number : 740959
Date issued : 11
December, 2000
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 31460831
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Office & Facilities*
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Previous Contact Details
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Address : Unit
1609B-10A China Hong Kong City - Tower 3 Canton Rd Tsimshatsui Kowloon
Year of relocation : 2006
*Capital Details*
============
Authorized capital : HKD 10,000.00 divided into 10,000 ordinary shares
at HKD 1.00/-each, fully paid
*Approved Signatures*
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Only Mr. Simon Sai-hoi Chan can sign on behalf of the company with seal
affixed.
*Accountants*
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TSANG WAN SING & CO
Address : Unit 601, 6Fl Beautiful Group Tower 77 Connaught Rd Central
Hong Kong
SC is not known to host website of its own at present.
E-mail: info@channelace.com.hk
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 : 10,000
Shareholders' Name
No. of Ordinary
Shares Amount of Shares (HKD) % of Shares
--------------------------- ------------------------------- --------------------------------- ----------------
Mr. Sai-cheung Chan
5,000 5,000.00 50.00
Mr. Simon Sai-hoi Chan 5,000
5,000.00 50.00
*Director's Details*
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(1)Mr. Sai-cheung Chan
HKID no. : E641641(5)
Address : Flat 2905 Wang Kin
House Wang Fuk Court, Tai Po, New Territories Hong Kong
(2)Mr. Simon Sai-hoi Chan
HKID no. : G014911(9)
Address : Flat D 62Fl Tower 3
Sorrento, Tsim Sha Tsui, New Territories Hong Kong
*Company Secretary*
=================
Mr. Sai-cheung Chan
HKID no. : E641641(5)
Address : Flat 2905 Wang Kin
House Wang Fuk Court, Tai Po, New Territories Hong Kong
SC’s management
declined to release its management background details.
*Operations Status*
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Current operations of the firm could not be confirmed during the course
of the investigation due to the following reasons:
1. The company has been unwilling to reveal details of its business
operations except for the confirmation of the company name and address.
2. Still, a written request was forwarded to the company, but no reply
was received, either by phone or by mail.
3. Additionally, attempts to identify other commercial points of
reference being used by the company proved to be unsuccessful. These include:
- Checks with the local trade
and business associations.
- Attempts to identify trade
references within the Jewelry industry sector.
*Main Products & Services*
======================
Believed to be engaged in trading jewelry.
Products : Jewelry
SC is not known to have any subsidiary at
present.
PAYMENT RATING : NR OBTAINED SCORES : 0
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Implication |
Implications |
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1 |
Scores 85–100 |
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.
Dealings on open terms may be possible for NO RECOMMENDATION
amounts depending on individual judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
BASED ON
THE INVESTIGATIONS PERFORMED, IT HAS NOT BEEN POSSIBLE TO PREPARE A NORMAL
CREDIT REPORT ON THE COMPANY. GIVEN
THE CIRCUMSTANCES, CAUTION IS ADVISED RELATED TO DEALINGS WITH PERSONS CLAIMING
TO REPRESENT SUCH AN ENTITY.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry,
of precious metal
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
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%)
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions