MIRA INFORM REPORT
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Report Date : |
03.11.2011 |
IDENTIFICATION DETAILS
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Name : |
BNS
DEVELOPMENT LTD. |
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Registered Office : |
Room 211, 2/F., New East Ocean Centre, 9 Science Museum Road, Tsimshatsui East, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.04.1999 |
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Com. Reg. No.: |
30032021 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Metal scraps, plastic scraps, electronic components, etc. |
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 : |
Usually Correct |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
BNS DEVELOPMENT
LTD.
Company ADDRESS
Room 211, 2/F., New East Ocean Centre, 9 Science Museum Road, Tsimshatsui East, Kowloon, Hong Kong.
PHONE: 2891 9700
FAX: 2891 5300
E-MAIL: bnsdevelopment@hotmail.com
MANAGEMENT
Managing Director: Mr. Siu Long Kwan, Billy
SUMMARY
Incorporated on: 16th April, 1999.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 7.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Room 211, 2/F., New East Ocean Centre, 9 Science Museum Road, Tsimshatsui East, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
30032021
COMPANY FILE NUMBER
0672551
MANAGEMENT
Managing Director: Mr. Siu Long Kwan, Billy
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDERS
(As per registry
dated 16-04-2011)
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Name |
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No. of shares |
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SIU Long Kwan, Billy |
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999,999 |
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SIU Li Yee, Angela |
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1 |
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–––––––– |
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Total: |
1,000,000 ======= |
DIRECTORS
(As per registry
dated 01-08-2011)
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Name (Nationality) |
Address |
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SIU Li Yee, Angela |
House 10, Latour Avenue, The Vineyard, 23 Ngau Tam Mei Road, Yuen Long, New Territories, Hong Kong. |
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SIU Long Kwan, Billy |
House 10, Latour Avenue, The Vineyard, 23 Ngau Tam Mei Road, Yuen Long, New Territories, Hong Kong. |
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MIAO Xue Ping |
Room 211, 2/F., New East Ocean Centre, 9 Science Museum Road, Tsimshatsui East, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 16-04-2011)
|
Name |
Address |
Co.
No. |
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DK Accounting & Secretarial Ltd. |
2/F., 100 Des Voeux Road Central, Hong Kong. |
0249434 |
HISTORY
The subject was incorporated on 16th April, 1999 as a private limited liability company under the Hong Kong Companies Ordinance.
Last time, the subject was located at Room 1505, 15/F., AXA Centre, 151 Gloucester Road, Wanchai, Hong Kong, moved to the present address with effect from 1st August, 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Metal scraps, plastic scraps, electronic components, etc.
Employees: 7.
Commodities Imported: Europe, China, India, other Asian countries, etc.
Markets: China, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge:-
Date of Deed of Indemnity, Charge Over Deposit and Set-Off: 03-10-2006
Amount: All actions, suits, proceedings, claims, demands, losses, damages, costs, fees, expenses and/or
liabilities
Property: By way of Fixed Charge to the Bank all the Company’s estate, right, title, claim, benefit and
interest to and in the Deposit (Account No. 02753220061312 and 02753293062164) and all interest from time to time payable thereon and together with all title deeds and documents relating thereto
Mortgagee: Bank of Communications Co. Ltd., Hong Kong Branch.
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.
Bankers:-
· Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
· Bank of Communications Co. Ltd., Hong Kong Branch.
Standing: Normal.
GENERAL
Having issued 1 million ordinary shares of HK$1.00 each, BNS Development Ltd. is jointly owned by Siu Long Kwan, Billy, holding 999,999 shares; and Ms. Siu Li Yee, Angela, holding just a share. Being Hong Kong merchants, they are also directors of the subject.
The subject is engaged in the following business scope:-
· Electronic components
· Plastic scraps
· Metal scraps, steel materials
· Other crude materials
The subject is one of the Hong Kong firms appraised by the Consulate General of India of Hong Kong as it has had close business ties with a number of firms in India. The subject deals with India firms with “crude materials”.
The subject also sources plastic scraps and metal scraps from worldwide countries and exports to China for further processing.
In recent years, the subject has been concentrated on electronic components. It sources electronic components from Europe, the United States, Asian countries and exports the products to Japan, China, other Asian countries, etc. Business is rather active.
The business of the subject is chiefly handled by the two shareholders. History is over twelve years and six months in Hong Kong.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.78.73 |
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Euro |
1 |
Rs.67.64 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.