MIRA INFORM REPORT

Report Date :

23.11.2012

IDENTIFICATION DETAILS

Name :	WELL BRAVO (HK) LTD.
Registered Office :	Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po Road, Kowloon City, Kowloon
Country :	Hong Kong
Date of Incorporation :	01.04.2008
Com. Reg. No.:	39252818
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of Leather materials, etc.

RATING & COMMENTS

MIRA’s Rating :

B

RATING			STATUS		PROPOSED CREDIT LINE
26-40		B	Capability to overcome financial difficulties seems comparatively below average.		Small
	Status :			Moderate
	Payment Behaviour :			Unknown
	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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
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

WELL BRAVO (HK) LTD.

Company ADDRESS

Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po Road, Kowloon City, Kowloon, Hong Kong.

PHONE: 3525 1050

FAX: 2718 4361

E-MAIL: supinco@superior.imsbiz.com.hk

MANAGEMENT

Managing Director: Ms. Wong Yuen Sheung, Juliana

SUMMARY

Incorporated on: 1st April, 2008.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$1.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 4. (Including affiliates)

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

Banking Relation: Satisfactory.

Company address

Registered Head Office:-

Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po Road, Kowloon City, Kowloon, Hong Kong.

Affiliated Companies:-

Kaiping Superior Leather Products Factory, China.

Kaising Industrial Co., Hong Kong.

Superior (International) Co. Ltd., Hong Kong. [Dissolved]

Superior Leather Trading Co. Ltd., Hong Kong.

Superior Trading Co., Hong Kong.

BUSINESS REGISTRATION NUMBER

39252818

COMPANY FILE NUMBER

1221868

MANAGEMENT

Managing Director: Ms. Wong Yuen Sheung, Juliana

CAPITAL

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

Issued Share Capital: HK$1.00

SHAREHOLDER

(As per registry dated 01-04-2010)

Name	No. of share
WONG Yuen Sheung, Juliana	1 =

DIRECTOR

(As per registry dated 01-04-2010)

Name (Nationality)	Address
WONG Yuen Sheung, Juliana	Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po Road, Kowloon City, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 01-04-2010)

Name	Address
CHENG Yar Kan, Joyce	Flat B, 1/F., Kam Fai Commercial Building, 31-35 Sa Po Road, Kowloon City, Kowloon, Hong Kong.

HISTORY

The subject was incorporated on 1st April, 2008 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: Importer, Exporter and Wholesaler.

Lines: Leather materials, etc.

Employees: 4. (Including affiliates)

Commodities Imported: India, Europe, South America, 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$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$1.00

Profit or Loss: Kept a balance account in 2010.

Condition: Business is improving.

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: Small.

GENERAL

Incorporated in April 2008, Well Bravo (HK) Ltd. is wholly-owned by Ms. Juliana Wong Yuen Sheung who is a Hong Kong businesswoman. The subject has just issued one ordinary shares of HK$1.00 which is owned by Wong. She is also the only director of the subject.

The subject shares the same operating office with another firm Superior Leather Trading Co. Ltd. [Superior Leather] which is a Hong Kong-registered firm. Owned and operated by Mr. Tomy Cheng Kwok Kee, Superior Leather is a leather material trader. The subject is engaged in the same lines of business as Superior Leather.

Tomy Cheng has been appointed as BLC’s agent for China. Tomy, who has been working in the leather industry for more than 37 years, is the managing director of Superior Leather, a Hong Kong based company established in 1976. BLC is supposed to be a tannery.

Superior Leather started out as an importer of finished leather for garments, bags and shoes, later operated a tannery in China before becoming the sales agent for several major tanneries in Europe and the Middle East. Most of the suppliers are in Pakistan, Iran, Soudi Arabia, etc.

Superior Leather is engaged in the sales and purchasing products such as hides, skins and leather to work with BLC to broaden its scope in China and provide a local contact point. It has set up a leather product factory known as Kaiping Superior Leather Products Factory in Kaiping, Guangdong Province, China. It is specialized in glazed kid, cow full grain, corrected grain, oil pull ups and box leather, calf, cow natural and dyed crust leather, buffalo calf, kid suede, kid/cow linings and industrial leathers.

The subject is supported by Superior Leather. Business is chiefly handled by Juliana Wong herself. History in Hong Kong is less than three years.

On the whole, since the history of the subject is short, consider it good for normal business engagements on Secured basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.34
UK Pound	1	Rs.88.30
Euro	1	Rs.71.37

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

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