MIRA
INFORM REPORT
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Report
Date : |
31st
May 2006 |
IDENTIFICATION
DETAILS
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Name
: |
MEGA
STAR |
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Registered
Office : |
Rm A5,
7/F, Hankow Centre, 47 Peking Rd., Tst, Kln, Hong Kong |
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Country : |
Hong Kong |
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Date
of Incorporation : |
26.02.2001 |
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Com.
Reg. No.: |
31602180 |
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Legal
Form : |
Sole
Proprietorship |
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Line
of Business : |
Exporters
& Wholesalers of Precious Stones. |
RATING & COMMENTS
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MIRA’s
Rating : |
Ba |
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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 : |
Clear |
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Litigation
: |
- |
NAME
MEGA
STAR
ADDRESS
RM A5,
7/F, HANKOW CENTRE, 47 PEKING RD.,
TST,
KLN, HONG KONG
TEL : 852 23665075
FAX : 852 23662227
EXECUTIVE SUMMARY
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INCORPORATION DATE |
26-2-2001 |
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REGISTRATION NO. |
31602180 |
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REGISTERED LEGAL FORM |
SOLE
PROPRIETORSHIP |
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CHIEF EXECUTIVE |
MCHAMED
ASMATHULLA KHAN SHAHUL HAMEED (SOLE PROPRIETOR) |
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STAFF STRENGTH |
3 |
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AUTHORISED 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 |
PRECIOUS
STONES EXPORT & WHOLESALE |
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TURNOVER |
NA (AS
OF DEC. 31, 2002) |
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EQUITIES |
NA (AS
OF DEC. 31, 2002) |
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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
7.76897 = USD1 AS OF 2004-11-08 |
ADOPTED OBBREVIATIONS
Ans –
Amount Not Stated
NS – Not
Stated
SC –
Subject Company (the company inquired by you)
NA- Not
Available
HKD –
Hong Kong Dollars
SC was
established under Business Registration number 31602180 on 26-2-2001 with
present status as sole proprietorship.
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
Mchamed Asmathulla Khan Shahul Hameed Same
as heading
business
address
No
material change or amendment regarding SC has been traced & noted since its
inception.
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 residential building in a commercial & residential
district.
Condition inside the premises during
our visit : Normal.
Office/factory layout : Standard.
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 Hong Kong, unlimited companies are not required to file its charge
particulars for public inspection.
Mchamed
Asmathulla Khan Shahul Hameed, sole proprietor: In his mid 40's & married.
He is by Indian nationality.
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered
residential address: Same as heading business address.
Property
ownership : Current land search indicates the said premises ownership as follows:
-Owner(s)
: Shaik Kamal Shahul Hameed & Jamal Mohamed Hameed
Musthafa
- Date
of purchase & consideration : 26-11-1997 / $4,915,000
- Date
of mortgage & secured amount : NA
-
Mortgagee : NA
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 : 50 (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 wholesale & export of precious stones.
Items
available include including ruby, sapphire, tiger, rough colour stones, cut
diamond & others.
Principal purchases
Major
types of sourcing : Diamond &
gemstones
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India (mainly, Sri Lanka,
Pakistan & SE Asia
Buying
terms : L/C
Principal market
Local--type
of customers : Retailers
Selling
terms : COD
& credit of 30-45 days
Overseas--buying
countries : PR China & SE Asia
Selling
terms : L/C
SC is
not known have any subsidiary at present
Overall
payment appraisal
( ) Excellent ( ) Good ( )
Average ( ) Fair ( ) Poor
(x) 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.
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: Hang Seng Bank Ltd.
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.
SC is
considered small-sized in its line locally with acceptable base to meet its
normal dealings. Credit up to moderate
amount may 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 |