MIRA
INFORM REPORT
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Report Date : |
26.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SINO OCEAN LTD |
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Registered Office : |
RM 601, 6FL Chao's Bldg 143-145 Bonham Strand East Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.04. 2005 |
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Legal Form : |
Offshore Company - Private Limited |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
SINO
OCEAN LTD
RM 601, 6FL CHAO'S BLDG 143-145 BONHAM
STRAND
EAST SHEUNG WAN, HONG KONG (AS REGISTERED)
TEL: 852-25433705 FAX: 852-25411556
Narrative report:
This refers
to a type of report whose format is different from that of a standard report.
Such type of report is provided when:
l
Information obtained is insufficient for compiling a standard report.
l
The enquired co has been out of business or its business address has been
untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
Registered Legal Address: Rm 601, 6Fl Chao's Bldg 143-145 Bonham Strand
East Sheung Wan Hong Kong
*Company Registration*
===================
Legal Form : Offshore Company - Private Limited
(1)
License number : 0962002
Date issued : 9 April, 2005
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 35574630
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Capital Details*
=============
Share value :
HKD 1.00/-each
Authorized capital : HKD
10,000.00 divided into 10,000 ordinary shares
Paid-up capital : HKD 1.00 divided into 1 ordinary share
*Office & Facilities*
===============
Previous address : Rm 604 & 606 Tien Cheung Hong Bldg 77-83 Jervois
St Hong Kong
*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 Mr. Kishore Kumar Sirigeri 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*
================
Total number of shareholders: 1
Total number of shares: 1
Shareholders Country Number Amount (HKD) %
------------------ ---------- ----------- ------------------ -------
Mr. Kishore Kumar Sirigeri India 1.00 1.00 100.00
*Company Secretary*
=================
Mr. Suresh Babu Sirigeri
HKID number : A9152972
Passport number : F4107505
Address : Rm 1603,
16Fl Rightful Centre 12 Tak Hing St Jordan Kowloon Hong Kong
*COMPANY DIRECTORS*
=====================
Name : Mr. Kishore Kumar Sirigeri
Nationality : India
ID/Passport No. : Z-1234879
Registered Address : Rm 1103 Block 62, 588 Lian Hua South Rd, Minhang Dist,
Shanghai
Country of Residence : China
*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:
YEUNG, HO, JIU &
CO
*Operation Status*
==============
Although the Subject Company is a legally registered 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" their license on behalf of the 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 mail to owners, attend to license renewals,
corporate levies and related issues.
Company Name : YEUNG, HO, JIU & CO
Address : Rm 601,
6Fl Chao's Bldg 143-145 Bonham Strand East
Suburb : Sheung
Wan
City : Hong
Kong
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 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.
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 generated offshore.
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 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%)