MIRA
INFORM REPORT
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Report Date : |
05.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
HEALTH FOCUS HOLDINGS INC |
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Registered Office : |
150-12340
Horseshoe Way, Richmond, Bc, V7a 4z1 |
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Country : |
Canada |
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Date of Incorporation : |
22/02/2002 |
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Com. Reg. No.: |
BC0642777 |
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Legal Form : |
Provincially Chartered Corporation - Private |
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Line of Business : |
The Subject is engaged as a distributor and wholesaler of various
health related products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION
& EXECUTIVE SUMMARY
Company Name: HEALTH FOCUS HOLDINGS
INC.
Trade Name: Osim Canada
Address: 150-12340
HORSESHOE WAY
City: RICHMOND
State/Province: BC
Zip Code: V7A 4Z1
Country: CANADA
Telephone: 604-271-6746
Facsimile: 604-271-6777
URL www.osimcanada.ca
Legal Form: Provincially
Chartered Corporation - Private
Shareholder:
Business Activity: The
Subject is engaged as a distributor and wholesaler of various health related
products.
Founded (D/M/Y):
Sales / Revenue: -
Net Income:
Total Equity:
Number of Employees:
NOTE TO CLIENT
We contacted the
company and spoke to a Manager, Mr. Patrick Chan, who adamantly declined to
provide any information about the company. Mr. Chan stated that he would accept
a fax request. Therefore, information in this report could not be confirmed by
management. Please note that we did send a written request to his attention via
facsimile. An update will be provided accordingly should we receive a response
at a later time.
We were unable to
obtain the number of employees.
LEGAL
Legal Form: Provincially
Chartered Corporation - Private
Incorporation
State BC
Status: ACTIVE
Since (D/M/Y): 22/02/2002
The company is NOT
required to publish an annual financial report.
The Subject is incorporated in the province of British Columbia under the following registration:
Name: Health Focus Holdings Inc.
Incorporation Number: BC0642777
Date of Incorporation: FEB-22-2002
Status: Active
Jurisdiction: British Columbia
MANAGERS / KEY PERSONNEL
Mr. Ron Steinke Chief Executive
Officer
Mr. Patrick Chan Manager
AFFILIATED COMPANIES
The following
companies are each affiliated with the Subject through common ownership:
NAME - JURISDICTION
Brookstone, Inc. -
Merrimack,
NH
Health Focus
(California) Inc. - Anaheim,
CA
Health Focus
Holdings Inc. - Richmond,
Canada
OSIM (Beijing) Co.
Ltd. - Beijing,
China
OSIM (Guangzhou)
Co. Ltd. - Guangzhou,
China
OSIM (HK) Co. Ltd.
- Kowloon,
China (Hong Kong)
OSIM International
Trading (Shanghai) Co. Ltd. - Shanghai, China
OSIM (M) Sdn Bhd -
Petaling
Jaya, Malaysia
OSIM (South
Africa) Pty Ltd - Johannesburg,
South Africa
OSIM (Taiwan) Co.
Ltd. - Taipei,
Taiwan
OSIM (UK) Ltd - Lincoln,
United Kingdom
PT. OSIM (OSIM
Selaras Indoesia Makmur) - Jakarta,
Indonesia
Parent Companies
Parent Company: OSIM International Ltd.
Address: 65 Ubi Avenue 1
City: Singapore
State/Province:
Zip Code:
Country: SINGAPORE
Telephone: +65-674-76-866
Facsimile: +65-684-68-115
The Subject's parent company, OSIM INTERNATIONAL LTD., is publicly traded on th Singapore Stock Exchange under the symbol O23. A recent closing price for O23 as 0.33 Singapore Dollars. The 52-week range was 0.97 / 0.33 Singapore Dollars.
OSIM INTERNATIONAL LTD. had 2007 revenues of 523 million Singapore Dollars with
a
total workforce of approximately 1323 employees.
BANKS
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* |
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State/Province: |
BC |
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Country: |
CANADA |
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We were unable to
obtain any banking information.
PAYMENT HISTORY
No payment record was found for the Company.
The Company was faxed a request for trade references.
FINANCIAL INFORMATION
The Company was
forwarded a fax requesting financial information. Currently we have not
received a response.
The Subject would
not disclose any financial information over the telephone. Other outside
sources consulted could not provide any further insight into the financial
condition of this firm.
CURRENT OPERATIONS
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SIC Code: |
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NAICS Code: |
42 |
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Wholesale Trade |
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Business Activity: |
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The Subject is
engaged as a distributor and wholesaler of various health related products.
The Company's
product line includes massage chairs, foot massagers, slim belts, heating pads, tempur-pedic products, and
water purifiers. Sales are to retailers and other distributors throughout
Canada.
The heading
address is the Company's headquarters. They have several other locations in British Columbia and Alberta:
Market Mall
Calgary, AB
Tel: (403)
286-6746
Fax: (403)
286-6750
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West Edmonton Mall
8882 - 170st Unit
2573
Edmonton, AB T5T
4M2
Tel: (780)
484-6970
Fax: (780)
484-0257
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Unit 116
4940 No.3 Road
Richmond, BC V6X
3A5
Tel: (604)
214-0426
Fax: (604)
214-0427
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Unit 1250
Aberdeen Centre
4151 Hazelbridge
Way
Richmond BC V6X
4J7
Tel: (604)
233-0426
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Oakridge Center
#407-650 West 41
Ave.
Vancouver, BC V5Z
2M9
Tel: (604)
267-0426
Fax: (604)
267-0428
PUBLIC RECORD
No derogatory information such as bankruptcy filings, tax liens, or statements of claim were found against the
Company.
COMMENTS
The Subject, incorporated in 2002, is engaged as a distributor of various health
products manufactured by their parent company in Singapore.
No payment record was found for the Company.
No derogatory information such as bankruptcy filings,
tax liens, or statements of claim were found against the Company.
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%)