MIRA INFORM REPORT

 

 

Report Date :

29.08.2011

 

IDENTIFICATION DETAILS

 

Name :

FORWARD  TECHNOLOGY  CO.  LTD.

 

 

Registered Office :

Room 1417, 14/F., Thriving Industrial Centre, 26-38 Sha Tsui Road, Tsuen Wan, New Territories

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

23.10.2000

 

 

Com. Reg. No.:

31314286

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Engineering Project Contractor of all kinds of security products, electronic products, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

FORWARD  TECHNOLOGY  CO.  LTD.

 

Address:          

Room 1417, 14/F., Thriving Industrial Centre,

26-38 Sha Tsui Road, Tsuen Wan,

New Territories, Hong Kong.

 

Note:    The subject is not located at your given address “Room 804, 8/F., Sino Centre, 582-592 Nathan Road, Mongkok, Kowloon, Hong Kong” where is the operating office of a commercial provider Power Point International Co. Ltd.  Given phone number 852-2384 0332 and fax number 852-2771 7211 also belong to this firm.

 

PHONE:            2416 0422

 

FAX:                 2416 0422

 

 

MANAGEMENT

 

Managing Director:  Ms. Wu Sik Fun

 

 

SUMMARY

 

Incorporated on:             23rd October, 2000.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Engineering Project Contractor.

 

Employees:                   5.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

ADDRESS

 

Registered Head Office:-

Room 1417, 14/F., Thriving Industrial Centre, 26-38 Sha Tsui Road, Tsuen Wan, New Territories, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

 31314286

 

 

COMPANY FILE NUMBER

 

0735471

 

 

MANAGEMENT

 

Managing Director:  Ms. Wu Sik Fun

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10,000.00

 

 

SHAREHOLDERS

(As per registry dated 23-10-2010)

 

Name

 

No. of shares

LAM Tak Lee, Danny

 

5,000

WU Sik Fun

 

5,000

 

 

––––––

 

Total:

10,000

=====

 

 

DIRECTORS

(As per registry dated 23-10-2010)

 

Name

(Nationality)

 

Address

LAM Tak Lee, Danny

Room 2623, Tsuen Wing Lau, Lai Tak Chuen, Causeway Bay, Hong Kong.

 

WU Sik Fun

Flat 9A, 10/F., 395 King’s Road, North Point, Hong Kong.

 

 

SECRETARY

 

WU Sik Fun  (As per registry dated 23-10-2010)

 

 

HISTORY

 

The subject was incorporated on 23rd October, 2000 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Engineering Project Contractor.

 

Lines:                           All kinds of security products, electronic products, etc.

 

Employees:                   5.

 

Commodities Imported:   Europe, US, India, Japan, etc.

 

Markets:                       Hong Kong, other Asian countries, etc.

 

Terms/Sales/Services:  COD or as per contracted.

 

Terms/Buying:               L/C, T/T, D/P, O/A, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,000.00

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Normal.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Forward Technology Co. Ltd. is equally owned by two Hong Kong merchants, namely, Mr. Lam Tak Lee, Danny and Ms. Wu Sik Fun.  They are also directors of the subject.

Incorporated in October 2000, the subject is a security engineering project contractor.  The subject has got the licence issued by the Security Bureau of the Government of the Hong Kong Special Administrative Region.  It has been approved by the Bureau in contracting “Type III Security Work”.  Its security company licence No. is 0897.

The subject is engaged in the following businesses:-

Installation, maintenance and/or repairing of security devices

Designing (for any particular premises or place) a security system

Incorporating a security device for a premises

The subject also carries security alarms, burglar alarms, CCTV surveillance systems, etc.  Commodities are imported from Europe, the United States, India, Japan, etc.  Business is rather active.

The business of the subject is chiefly handled by Lam Tak Lee, Danny.  History in Hong Kong is about eleven years.

On the whole, consider the subject good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.19

Euro

1

Rs.66.47

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.