MIRA INFORM REPORT
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Report
Date : |
8th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
PERRY GEMS (HONG KONG) LTD. |
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Registered
Office : |
Office A, 4/F, Cheerful Commercial Building, 116-118 Ma
Tau Wai Road, Hunghom, Kowloon, Hong Kong |
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Date
of Incorporation : |
17-6-2005 |
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Com.
Reg. No.: |
977829 |
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Legal
Form : |
Private Limited Company |
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Line
of Business : |
Trading of fine jewellery. |
RATING & COMMENTS
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MIRA’s
Rating : |
B |
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status
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New
Company |
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Payment
Behaviour : |
Unknown |
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Litigation
: |
Clear |
NAME
PERRY
GEMS (HONG KONG) LTD.
ADDRESS
OFFICE A,
4/F, CHEERFUL COMMERCIAL BUILDING,
116-118 MA
TAU WAI ROAD, HUNGHOM, KOWLOON, HONG KONG
TEL: 852
27395657
FAX: 852
27395658
EXECUTIVE SUMMARY
INCORPORATION
DATE : 17-6-2005
REGISTRATION
NO. : 977829
REGISTERED
LEGAL FORM : PRIVATE
LIMITED CO.
CHIEF EXECUTIVE : PATEL DHAVAL KUMAR VINOD
CHANDRA
(DIRECTOR)
STAFF
STRENGTH : 2
AUTHORIZED CAPITAL
: HKD 1M =
1M SHARES @ HKD 1.-
PAID-UP
CAPITAL : HKD 10,000
BUSINESS
LINE : TRADING
OF FINE JEWELLERY
TURNOVER : N/A (AS OF DEC. 31, 2004)
EQUITIES : N/A (AS OF DEC. 31, 2004)
PAYMENT : AVERAGE
RECOMM. CREDIT
RANGE : MODERATE AMOUNT
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : ORDINARY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.75894 = USD1 AS OF 2006-02-27
Adopted
abbreviations:
ANS -
amount not stated
NS - not
stated
SC -
subject company (the company inquired by you)
NA - not
available
M - million
HKD – Hong
Kong Dollars
SC is a private limited company
registered under incorporation file no. 977829 on 17-6-2005.
SC's shareholders & directors
are shown to be as follows:
Shareholders
(as at 21-6-2005) Number
of shares held
Patel
Dhaval Kumar Vinod Chandra 9,999
Panasian
Commercial Ltd. 1
--------
10,000
=====
Directors (as at 21-6-2005)
Patel Dhaval Kumar Vinod Chandra /
E7737703
The above registration information
is based on SC's annual return filed at Companies Registry within the last 2
years.
Our current search reveals certain
material change or amendment of SC has been recorded within the last 2 years
& noted as follows:
Change in
capital : Authorised capital was increased from HKD 10,000 to the present
amount on 24-1-2006 with the creation of 990,000 shares of HKD1.-.
Paid-up
capital: HKD 10,000.
Partial change in SC's
directorship as follows:
Name(s) of
resigned director(s) Resignation
date
Nil Nil
Name(s) of
newly appointed director(s) Appointment
date
Patel
Dhaval Kumar Vinod Chandra 21-6-2006
Total
number of employees : 2.
Location : Maintaining its office at the heading business
address which occupies a gross area of 600 square feet at a commercial building
in a commercial & shopping district.
Condition
inside the premises during our visit : Normal.
Office/factory
layout : Standard.
The premises is rented.
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) : None filed since
its incorporation date.
Patel Dhaval Kumar Vinod Chandra,
director:
- He is by Indian nationality
- Embarked upon his career to
present field as a junior salesman in his mid 20's
- Also currently sole proprietor
of Perry Gems (HK) Ltd.
Currently active in SC's
day-to-day operations & is responsible for its management.
Registered residential address:
41, Vijay Park So., N.H. No.8, Saijpur Bogha, Ahmedabad, Gujarat, India.
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 : 55 (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 fine
jewellery.
Items available include gemstones,
diamond, jade, precious & semi-precious jewellery.
Principal purchases :
Major types of sourcing : Diamond & jewellery
Local--type of suppliers : Nil
Buying terms :
Nil
Overseas--supplying countries : India & Belgium
Buying terms :
L/C
Principal market :
Local--type of customers : Nil
Selling terms :
Nil
Overseas--buying countries : PR China, Taiwan, SE Asia & USA
Selling terms :
L/C & special agreed terms
Jointly occupying the premises
with the below mentioned affiliate.
Affiliate(s):
Company
name : Perry Gems (HK) Ltd.
Year
established : 2001
Business nature :
Similar to SC
Address :
Same as heading business address
Turnover : NA
Civil litigation & winding-up
petition records: None in our database
Other affiliate:
________________
Perry Impex (in India)
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: 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.
As per current co. search, total
amount of indebtedness of SC in respect of all mortgages and charges which are
required to be registered with Companies Registry as at 21-6-2005 was nil.
SC is still in early stage of
development with a comparatively limited track record in its performance. On the other hand, the principals appear to
possess adequate experience and market connection to take off its business. Credit in the range of small 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
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 |