MIRA
INFORM REPORT
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Report Date : |
27.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
PURE CONCEPTS LTD. |
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Registered Office : |
Rm 307A, 3/F, Tower A, Hung Hom Commercial Centre,39 Ma
Tau Wai Rd.,Hung Hom, Kln. |
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Country : |
Hong Kong |
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Date of Incorporation : |
19-1-2005 |
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Com. Reg. No.: |
946951 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in manufacturing & supply of jewellery. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
PURE CONCEPTS LTD.
RM 307A, 3/F, TOWER A, HUNG HOM COMMERCIAL CENTRE,39 MA TAU WAI
RD.,HUNG HOM,KLN.,HONG KONG.(MOST LIKELY ADDRESS)
TEL : 852 25218812 (AS REGISTERED)
FAX : 852 25218219
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.
SC is a private limited co. incorporated under co. file no.
946951 on 19-1-2005.
Details of its incorporation information are shown to be as
follows:
Authorized capital :
$10,000 divided into 10,000 shares @ $1.-
Paid-up capital : $10,000
Shareholders/subscribers (as at 19-1-2007)
Name(s), ID/passport number, nationality & registered
address No. of Shares
- Wonking (Hong Kong) Ltd. 7,500
/ Same as heading business address
- QI Asset Management Ltd. 2,500
/ 4/F, Scotia Centre, PO Box 2804, George Town, Grand
Cayman, --------
Cayman Islands. 10,000
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Directors(as at 19-1-2007)
Name(s), ID/passport number & nationality Registered address
- D'souza Ronald Lawrence
Flat F, 12/F, Greenburg Court,
/ P356713(7) / NA Greenvale
Village, Discovery Bay,
Lantau Island, HK.
- Yeh Yuan Chi Flat B, 22/F, Blk 19, Laguna Verde,
/ D556842(1) / Chinese Hung Hom, Kowloon, HK.
- Rajadurai Magandran S 1 Jin Besi Off
Jin Melawis, 41000 Klang,
/ A10705138 / Malaysian Malaysia.
The above information is based on SC's registration documents
filed in Companies Registry within the last 2 years.
Current search reveals certain material change or amendment
of SC has been
recorded within the last 2 years & noted as follows:
Change in shares holding:
Date Transferor(s)
Transferee(s) No.
of shares transferred
18-3-2006 D'souza
Ronald Lawrence QI Asset
Management 2,500
Ltd.
18-3-2006 --
ditto -- Wonking (Hong Kong) Ltd. 7,499
18-3-2006 Zhou
Zongqing --
ditto -- 1
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 Hong Kong,
creation of such mortgage/charges by an unlimited co is not required to be
registered in the public records.
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : None
filed since its incorporation date.
Yeh Yuan Chi, director:
Also currently director of Donovans Ltd.
Registered residential address: As stated in
"Registration Information"
Property ownership:
Current land search indicates that the said premises ownership as
follows:
- Owner(s) : Yeh Yuan Chi
- Date of purchase & consideration : 31-5-2004 / $3.25M
- Date of mortgage & secured amount : NA
- Mortgagee : NA
Credit history check : This
refers to a check of our database whether the said person has been involved in
any of the following records stored by us within the last 6 years:
Civil litigation as defendants : None
in our database
Bankruptcy/winding-up petitions : None
in our database
Delinquent payment records : None in our database
Debt collection records
: No overdue amount owed by the said
person was placed to us
for
collection
Rajadurai Magandran S, director: He is by Malaysian nationality.
Our search revealed that SC is engaged in manufacturing
& supply of jewellery.
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 & Wonking (Hong Kong) Ltd. were seen on display.
The gross area of the premises is estimated at 1,600 square
feet.
Condition inside the premises during our visit: Normal
Office/factory outlay: Standard
A female who identified herself as SC's staff member was
contacted there. She advised that only
SC's principal(s) could handle outside parties' business enquiries on SC. SC's principal(s) were not in office by that
time.
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 a commercial telephone line
(number 852-25218812) is registered under the name of SC.
A call made to the said co. was answered by a male who
identified himself as SC's staffmember.
He declined releasing any information on SC.
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%)