MIRA
INFORM REPORT
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Report Date : |
03.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
MASS UNITED
(HK) LTD |
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Registered Office : |
1FL Hang Lung House 188 Queen's Rd Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
June 25, 2004 |
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Com. Reg. No.: |
0908347 |
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Legal Form : |
RATING &
COMMENTS
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MIRAs 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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
MASS UNITED
(HK) LTD
1FL HANG LUNG HOUSE 188 QUEEN'S RD CENTRAL, HONG KONG
TEL : 852 25449331
FAX : 852 28151186
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 25, 2004
REGISTRATION NO. :
0908347
CHIEF EXECUTIVE :
MANOJ MANGAT (DIRECTOR)
STAFF STRENGTH :
N/A
CAPITAL :
US$ 19,255
BUSINESS LINE :
NOT APPLICABLE - TAX HAVEN ENTITY
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
NR
RECOMM. CREDIT RANGE :
NO RECOMMENDATION
MARKET CONDITION :
N/A
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
N/A
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.81057 = 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
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: TAM
& WONGS SECRETARIES LTD
*Company Registration*
===================
(1)
License number : 0908347
Date issued : 25 June,
2004
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 34689228-000
Issuing authority : Business Registration
Office - Inland Revenue Dept
Type of license :
Business
*Capital Details*
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Authorized capital : HKD 150,000.00 divided into 150,000 ordinary shares
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*
===================
Only Manoj Mangat 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.
*Major Shareholders*
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Total number of shareholders
: 3
Total number of ordinary shares : 150,000
Shareholders' Name
No. of Ordinary Shares
Amount of Shares (HKD) % of
Shares
-------------------------- ------------------------------- --------------------------------- ----------------
Sudhir Narayanan Manoti 50,000 50,000.00 33.33
Alwyn John Soares 50,000 50,000.00 33.33
Manoj Mangat 50,000 50,000.00 33.33
*Directors' Details*
===============
(1)Manoj Mangat
India passport number : E7576913
Address :
Rm 915 Heng Jing Commercial Centre 205 Huanshi Rd Guangzhou
(2)Sudhir Narayanan Manoti
India passport number : Z1496302
Address : Rm 915 Heng Jing Commercial
Centre 205 Huanshi Rd Guangzhou
(3)Alwyn John Soares
India passport number : F4105660
Address :
Rm 915 Heng Jing Commercial Centre 205 Huanshi Rd Guangzhou
*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 : TAM & WONGS SECRETARIES LTD
Address : 1Fl Hang Lung House 188 Queen's Rd
Suburb : Central
City : Hong
Kong
*(Subsidiaries, Joint-ventures & Affiliates)
================================
Company Name : MASS UNITED (HK) LTD
Address : Rm 915 Heng Jing Commercial Centre 205 Huanshi Rd Guangzhou
China
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Houseware
PAYMENT RATING : No Data OBTAINED SCORES : NR
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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 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.
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%)