MIRA
INFORM REPORT
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Report Date : |
05.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHEEN NETTWORK LTD |
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Registered Office : |
Suite 1402 Chekiang First Bank Centre 1 Duddell St Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.10.2007 |
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Com. Reg. No.: |
1176014 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading a wide range of Garments.
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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 : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
SHEEN
NETTWORK LTD
SUITE 1402 CHEKIANG FIRST BANK CENTRE
1 DUDDELL ST CENTRAL, HONG KONG.
TEL: 852-23763611 FAX: 852-27365115
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 16, 2007
REGISTRATION NO. :
1176014
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
5
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
BELOW AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
TO SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78308 = 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*
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(1)
License number : 1176014
Date issued : 16 October, 2007
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 38522686-000
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
(3)
License number : 38522686-001
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
*Reputation*
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Due to the recent incorporation of the firm, no meaningful points of
reference in terms of reputation within the respective industry was possible.
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: 1
Total number of shares: 1
Shareholders Country
%
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PRIMA GROUP LTD Hong Kong 100.00
*Corporate Secretary*
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PRIMA SECRETARIES LTD
CR no. : 569406
Address : Suite 1402 Chekiang First Bank
Centre 1 Duddell St, Central, Hong Kong
Date appointed : 16 October, 2007
Management: Ms. Elvie Romero, Manager
Name Nationality
Job Description Dept. / Division
Ms. Elvie Romero Filipino
Manager Commercial
*Main Products & Services*
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Specializes in trading a wide range of garments.
Products : Garments
*Payment Terms*
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Sales
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Local : Cash or Credit
Purchases
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Local : Cash or Credit
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 5 OBTAINED SCORES :
30
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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.
Since the company was only established four (4) months ago no financials
have been lodged.
SC was established in 2007, and its credit has not been established yet.
Credit dealings with SC are recommended under secured terms at present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2300 Apparel/Other
Textile Products
Trading 2389 Apparel and
accessories,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 6114 Garments,
knitted or crocheted
Trading 6117 Made-up
clothing access. parts etc. knit etc
Trading 6210 Garments, of
felt etc, or fabric impregnated etc
Trading 6217 Made-up
clothing access, garment etc parts
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%)