MIRA
INFORM REPORT
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Report Date : |
1st
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
KOWLOON TRADING CO |
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Registered Office : |
Flat F, 14/F, Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
1-5-1987 |
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Com. Reg. No.: |
10973982 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading of Precious & Semi-Precious Gemstones |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 : |
Regular |
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Litigation : |
Clear |
NAME
KOWLOON TRADING CO.
ADDRESS
FLAT F, 14/F, FAR EAST MANSION,
5-6 MIDDLE ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL: 852 27225540
FAX: 852 23114456
EXECUTIVE SUMMARY
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INCORPORATION DATE |
1-5-1987 |
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REGISTRATION NO. |
10973982 |
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REGISTERED LEGAL FORM |
PARTNERSHIP |
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CHIEF EXECUTIVE |
ANIL
AGRAWAL (PARTNER) |
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STAFF STRENGTH |
3 |
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AUTHORIZED
CAPITAL |
[IN HK, UNLIMITED COS. ARE NOT REQUIRED TO
FILE ITS CAPITAL PARTICULARS TO BR OFFICE (THE INLAND REVENUE)] |
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PAID-UP
CAPITAL |
NOT
APPLICABLE |
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BUSINESS LINE |
TRADING
OF PRECIOUS & SEMI-PRECIOUS GEMSTONES |
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TURNOVER |
N/A (AS OF DEC. 31, 2004) |
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EQUITIES |
N/A (AS OF DEC. 31, 2004) |
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PAYMENT |
AVERAGE |
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RECOMM. CREDIT RANGE |
MODERATE AMOUNT |
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MARKET CONDITION |
COMPETITIVE |
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FINANCIAL CONDITION |
STABLE |
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OPERATIONAL TREND |
FAIRLY STEADY |
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GENERAL REPUTATION |
AVERAGE |
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EXCHANGE RATE |
HKD 7.75452 = USD1 AS OF 2006-01-04 |
SC was established under Business Registration number 10973982 on 1-5-1987 with present status as partnership.
Currently obtained BR copy indicate the particulars of SC's principal(s) are as follows:
Name(s) of principal(s) & ID/Passport number(s) Registered address
- Anil Agrawal / W245284 Flat C-3, 10/F, Hankow Centre, 1C Middle Road, Tsimshatsui, Kowloon, HK.
- Ashok Kumar Gupta / P159614(8) 31/3, Soi, 13 Silom Road,Bangkok, Thailand.
Certain material change or amendment regarding SC within the last 4 years has been traced & noted as follows:
Change of business address : SC moved to the heading business address from Flat D, 16/F, Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, HK in July 2005.
Total number of employees : 3.
Location : Maintaining its office at the heading business address which occupies a gross area of 700 square feet at a commercial & residential building in a commercial & shopping district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
Property ownership : Current land search indicates the ownership details of the captioned premises as follows:
- Owner(s) : Sure Top Investment Ltd.
- Date of purchase & consideration : 9-5-2003 / HKD1.2M
- Date of mortgage & secured amount : 1-8-2005 / ANS
- Mortgagee : Dah Sing Bank Ltd.
This section will contain the civil litigations & winding-up petitions filed against SC for the last 6 years (as stored in our database), and the mortgage/charge filed by SC for the last 2 years. In Hong Kong, creation of such mortgages/charges by an unlimited co is not required to be registered in the public records.
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : In HK, unlimited companies are not required to file its charge particulars for public inspection.
Anil
Agrawal, partner:
- He is by Indian
nationality
- Embarked upon his career to present field as a salesman in his mid 20's
Currently active in SC's day-to-day operations & is responsible for its management.
Credit history check : This refers to a check of our database whether the said person has been involved in any of the following records stored by us within the last 6 years:
Civil litigation as defendants : None in our database
Bankruptcy/winding-up petitions : None in our database
Delinquent payment records : None in our database
Debt collection records : No overdue amount owed by the
said person was placed to us for collection
Ashok Kumar Gupta, partner:
- He is by Indian nationality
- Embarked upon his career to present field as a junior salesman in his 20's
- Also currently managing director of Real Thai Gems Ltd. (in Thailand), SC's affiliate
Currently residing in Thailand & only visits Hong Kong for business occasionally.
Credit history check : This refers to a check of our database whether the said person has been involved in any of the following records stored by us within the last 6 years:
Civil litigation as defendants : None in our database
Bankruptcy/winding-up petitions : None in our database
Delinquent payment records : None in our database
Debt collection records : No overdue amount owed by the
said person was placed to us for collection
Ownership background appraisal:
Rating :3 Obtained scores : 60 (see explanatory notes below)
Keys : 1 : scores 81-100 : Excellent
2 : scores 61-80 : Good
3 : scores 46-60 : Average
4 : scores 21-45 : Fair
5 : scores 01-20 : Poor
The rating indicates the personal financial & operational strength of SC's major principals. It is calculated from a composite of scores obtained from the following 5 factors which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation, business experience & track record, market connection and management skill.
Business categories :
SC is engaged in trading of precious & semi-precious gemstones.
Items available include sapphire, ruby, emerald, diamond, tanzanite, amethyst, blue topaz, citrine, rhodolite, peridot, cabochons, aquamarine & moonstone.
Principal purchases :
Major types of sourcing : Gemstones
Local--type of suppliers : Nil
Buying terms : Nil
Overseas--supplying countries : India & Thailand
Buying terms : L/C
Principal market :
Local--type of customers : Nil
Selling terms : Nil
Overseas--buying countries : Japan, Taiwan, S. Korea & Europe
Selling terms : L/C
SC's overseas affiliates:
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- GRK Gems, Inc. (in USA)
- Gupta Jewel Corporation (in India)
- Semi-Precious Mfg. Factory (in India)
- Emerald Mfg. Factory (in India)
- Jagannath Hari Narain (in India)
- Real Thai Gems Ltd. (in Thailand)
- Thai Fine Gems & Jewelry Ltd. (in Thailand)
Overall payment appraisal :
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and ability to pay. It is based on the 3 weighed factors: Trade payment experience (through current enquiry with SC's suppliers), our delinquent payment records and our debt collection record concerning SC.
Trade payment experience : Owing to the nature of its business, SC is not an active seeker of local commerical credit since merchandise/materials are imported. Its expenses in the form of accruals and servicing are reportedly met in prompt manner.
Delinquent payment record : None in our database.
Debt collection record : No overdue amount owed by SC was placed to us for collection within the last 6 years.
Banking
relations are maintained principally with: HSBC.
Upon a current contact, SC's principal(s) declined forwarding any financial information on the ground that SC is a private venture whose data is not required for public inspection.
Re: In HK, only the public listed cos., financial institutions & overseas cos. are obligated to file their financial statements to Companies Registry for public search. Generally, the private limited cos. & unlimited cos. always keep those data as highly confidential matter.
SC is considered a normally advancing concern with steady customers and good base to meet its trade engagements. Credit in the range of moderate amount can be considered.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted indicate that SC was not involved in any property transaction (both purchase & disposal) in Hong Kong for the last 6 years.
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/normal. |
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 |