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MIRA
INFORM REPORT
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Report Date : |
26.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BLUE SKY (FAR
EAST) LTD. |
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Registered Office : |
RM 1002, 10/F, Blk A, Hunghom Commercial Centre, 39 Ma Tau Wai Road,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.5.2005 |
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Com. Reg. No.: |
973595 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of Jewellery. |
RATING &
COMMENTS
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MIRA’s 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 : |
No Complaints |
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Litigation : |
Clear |
name & address
BLUE SKY (FAR EAST) LTD.
RM 1002, 10/F, BLK
A, HUNGHOM COMMERCIAL CENTRE,
39 MA TAU WAI ROAD, HUNGHOM, KOWLOON, HONG
KONG.
TEL: 852
21809619 FAX: 852 21809569
EXECUTIVE SUMMARY
INCORPORATION DATE :
27-5-2005
REGISTRATION NO. :
973595
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. WU YEE KWAN (DIRECTOR)
STAFF STRENGTH :
1
AUTHORIZED CAPITAL : HK $10,000 = 10,000 SHARES @ HK $1.-
PAID-UP
CAPITAL : HK $100.-
BUSINESS LINE :
TRADING OF JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
NOT YET DETERMINED
RECOMM. CREDIT RANGE : COD TO
SMALL AMOUNT
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79390 = USD 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
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Our search indicated your given name is not registered in BR Office or
Companies Registry.
We believe that your search target is the heading one.
Your given address (Rm 812, 8/F, Blk A of the heading building) is
occupied by Great City Property Agency which is an agent.
SC is a private limited company registered under incorporation file no.
973595 on 27-5-2005.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 27-5-2007) Number
of shares held
- Wu Yee Kwan 100
====
Director(s) (as at 27-5-2007)
- Wu Yee Kwan / P058360(3)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Change of business address: SC moved to the heading business address
from Rm 813, 8/F, Blk A of the heading building on 25-1-2008.
Total number of employees: 1.
Location: Maintaining
its office at the heading business address which occupies a gross area of 700
square feet at a commercial building in a commercial & industrial district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
The premise is rented.
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Wu Yee Kwan, director:
- In his early 30's
- Embarked upon his career to present field as a small businessman in
his mid 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat B, 38/F, Blk 7, Park Ave., 18 Hoi
Ting Road, Mongkok, Kowloon, Hong Kong.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s): Chan Wai Shan
- Date of purchase / consideration: 4-2-2006 / HK $7.1M
- Date of mortgage / secured amount: 4-2-2006 / ANS
- Mortgagee: Standard Chartered Bank (HK) Ltd.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
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
Ownership background appraisal:
Rating : 3 Obtained scores : 50 (see explanatory notes below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors
which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
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Upon a current contact, Wu Yee Kwan, SC's director, declined forwarding
any financial information on the ground that it is the company's policy not
releasing any data to a third party without the benefit of knowing the identity
of the inquiring party.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 27-5-2007 was nil.
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Banking relations are maintained principally with: HSBC.
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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 records filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/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.
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Overall payment appraisal:
( ) Excellent (
) Good ( ) Average ( ) Fair (
) Poor (X) Not yet
determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment records
and our debt collection record concerning SC.
Trade payment
experience: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
Delinquent
payment record: None in our database.
Debt
collection record: No overdue amount owed by SC
was placed to us for collection within the last 6 years.
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Business categories:
SC is engaged in trading of jewellery.
Items available include ambers, gemstones, corals, emeralds, jade, opal,
ruby & sapphire.
Principal purchases:
Major
types of sourcing : Jewellery
& accessories
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : PR China
Buying
terms : COD
Principal market:
Local--type
of customers : Wholesalers &
retailers
Selling
terms : COD
Overseas--buying
countries : USA, Canada & Europe
Selling
terms : COD &
L/C
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SC is not known to have any subsidiary at
present.
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SC is considered small-sized in its line locally with ordinary backing
and limited growth potential. Credit dealings with SC are recommended under
secured terms at present.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
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%)