MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MILLION CREST LTD |
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Registered Office : |
7FL Kin On Commercial Bldg 49-51 Jervois St, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
December 6, 2006 |
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Com. Reg. No.: |
1093219 |
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Legal Form : |
Offshore Company - Private Limited |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
MILLION CREST LTD
7FL KIN ON COMMERCIAL BLDG 49-51 JERVOIS ST
SHEUNG WAN, HONG KONG.
TEL : 852-28514822
FAX : 852-28514662
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 6, 2006
REGISTRATION NO. :
1093219
LEGAL FORM :
OFFSHORE COMPANY - PRIVATE LIMITED
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
N/A
CAPITAL :
US$ 1,284
BUSINESS LINE :
NOT APPLICABLE
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
NR
RECOMM. CREDIT RANGE : C.O.D.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : N/A
EXCHANGE RATE :
HKD 7.75406 = US$1
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 : 1093219
Date issued : 6
December, 2006
Issuing authority : Companies
Registry
Type of license : Corporate
Legal form : Private
Limited Company
(2)
License number : 37702918-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Capital Details*
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Share value : HKD 1.00/-each
Authorized capital : HKD
10,000.00 divided into 10,000 shares
Paid-up capital : HKD 1.00
divided into 1 share at HKD 1.00/-each
*Reputation*
===========
Due to the fact that the subject company:
(i) Does not maintain an operational
office in Hong Kong; and
(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*
===================
Mr. Wai-yee Wong 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.
Based on corporate filing regulations for this type of entity in Hong
Kong, there is either, no requirement for Shareholders or no requirement for
public disclosure of Shareholders.
*Major Shareholder*
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Total number of shareholder
: 1
Total number of share
: 1
Shareholder's Name No. of
Shares Amount of Shares (HKD) % of Shares
---------------------------
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---------------------------------
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Wai-yee Wong 1 1.00 100.00
*Company Secretary*
=================
TOPWORLD REGISTRATIONS LTD
Address : 7Fl Kin On Commercial Bldg 49-51 Jervois St,
Sheung Wan Hong Kong
SC declined to release its management background at present.
*Operation Status*
==============
Although the Subject Company is a legally registered 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" their license on behalf of the
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 mail to owners, attend to license renewals,
corporate levies and related issues.
Company Name : TOPWORLD REGISTRATIONS LTD
Address : 7Fl Kin On
Commercial Bldg 49-51 Jervois St
Suburb : Sheung
Wan
City : Hong
Kong
*OPERATIONAL STATUS*
======================
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 / Business Center services. Based on telephone
discussions with the management of the Corporate Secretarial / Business Center
firm, it manages the annual legal corporate license renewals and related
matters on behalf of the Subject Business Entity. There is no known operational
office for the Subject Business Entity in the country listed above.
The name of the Corporate Secretarial / Business Center firm is:
TOPWORLD REGISTRATIONS LTD
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 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.
Under Hong Kong corporate law, the Subject Company is exempt from the
provisions of the Income Tax Act and therefore not obliged to disclose their
financial statements.
*Bank Details*
============
Bank name : CITIBANK NA
Branch : Taipei Offshore
Branch
SC was established in 2006 as an offshore company, and its credit has not
been established yet. Great caution is requested in providing credit to SC
& COD is recommended at present.
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 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%)