MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
NOVO COMMODITIES LTD |
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Registered Office : |
Unit 1602 16FL |
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Country : |
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Date of Incorporation : |
January 31, 2005 |
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Com. Reg. No.: |
0949449 |
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Legal Form : |
Offshore Company - Private Limited |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name &
address
NOVO COMMODITIES LTD
UNIT 1602 16FL
TEL : 852-28346483
FAX : 852-21169322
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 31, 2005
REGISTRATION NO. :
0949449
LEGAL FORM :
OFFSHORE COMPANY - PRIVATE LIMITED
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
N/A
CAPITAL :
US$ 1,023,018
BUSINESS LINE :
N/A
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
NR
RECOMM.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : N/A
EXCHANGE RATE :
HKD7.78888 = 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
*Company Registration*
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(1)
License number : 0949449
Date issued : 31 January,
2005
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 35316347000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Capital Details*
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Registered capital : HKD
8,000,000.00 divided into 8,000,000 shares at HKD 1.00/-each, fully paid
*Reputation*
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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.
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*
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Total number of shareholder
: 1
Total number of ordinary shares :
8,000,000
Shareholder's Name No. of Ordinary
Shares Amount of Shares (HKD) % of Shares
---------------------------
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NOVO COMMODITIES HOLDINGS LTD
8,000,000
8,000,000.00
100.00
*Director's Details*
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(1)
Kin-Wa Chow
National ID No :
C467292(3)
Address :
(2)
Tailianna Sau-Ching Ma
National ID No :
D468163(1)
Address : Unit
1108, 11Fl
(3)
Dicky Wing-Keung Yu
National ID No :
E767838(3)
Address : Unit
1108, 11Fl
SC management declined to release its management background details.
*Operational Status*
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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 /
TOPSEC SERVICES LTD
*Operations Status*
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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 : TOPSEC SERVICES LTD
Address : Unit 1602,
16Fl
Suburb : Wanchai
City :
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 85100 |
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
Although
the Subject Business Entity is legally registered, it is currently only a
"shelf company" and maintains no known business activity. Therefore it
is not possible to apply the normal Credit Rating and Risk Analysis algorithm.
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 SCs 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%)