MIRA
INFORM REPORT
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Report Date : |
14th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
CHAN-NIT TRADING CO. |
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Registered Office : |
Rm 1005, 10/F, Hai Phong Mansion, 99-101 Nathan Road, Tsimshatsui, Kowloon, Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
13-02-1999 |
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Com. Reg. No.: |
22277754 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trading of jewellery. |
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 : |
Small Concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
NAME
CHAN-NIT TRADING CO.
ADDRESS
RM 1005, 10/F, HAI PHONG MANSION,
99-101 NATHAN ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23685100/ 93103752
FAX : 852 23685200
EXECUTIVE SUMMARY
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INCORPORATION DATE |
13-2-1999 |
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REGISTRATION NO. |
22277754 |
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REGISTERED LEGAL FORM |
SOLE
PROPRIETORSHIP |
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CHIEF EXECUTIVE |
CHAUHAN
NITESH JAGDISHCHANDRA (SOLE
PROPRIETOR) |
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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 JEWELLERY |
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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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OPERATIONAL TREND |
FAIRLY STEADY |
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GENERAL REPUTATION |
AVERAGE |
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EXCHANGE RATE |
HKD 7.75365 =
USD1 AS OF 2005-12-26 |
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
The
correct address of SC should be the heading one instead of the address given by
you.
SC was
established under Business Registration number 22277754 on 13-2-1999 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
- Chauhan Nitesh Jagdishchandra 7/F,
27A Ocean View
/ G095460 Court,
Chatham Road,
Tsimshatsui,
Kowloon,
HK.
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 9/F, China
Minmetals Tower, 79-79A Chatham Road South, Tsimshatsui, Kowloon, HK.
Total number of employees : 3.
Location : Maintaining
its office at the heading business address which occupies a gross area of 800
square feet at a residential building in a residential 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) : In HK, unlimited companies are not
required to file its charge particulars for public inspection.
Chauhan
Nitesh Jagdishchandra, sole proprietor:
He is by Indian nationality. Currently
active in SC's day-to-day operations & is responsible for its management.
Registered
residential address: As stated above.
Property
ownership: Current land search indicates the said premises ownership as
follows:
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Owner(s) : Harjani Dayal Kishinchand & Harjani Veena Dayaldas
- Date of
purchase & consideration : 21-2-1997 / ANS
- Date of
mortgage & secured amount : 15-11-2001 / ANS
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Mortgagee : Indian Overseas Bank
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 jewellery.
Items
available include rings, bracelets, earrings, pendants & brooches.
Principal
purchases
Major types of
sourcing :
Merchandise
Local--type of
suppliers : NA
Buying terms : NA
Overseas--supplying
countries : India, Thailand, SE Asia
& S. Africa
Buying terms : L/C
Principal
market
Local--type of
customers : Nil
Selling terms : Nil
Overseas--buying
countries : PR China & SE Asia
Selling terms : L/C
SC is not known to have any subsidiary at present.
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
SC did not provide any name of trade/service suppliers and we have no other sources to conduct the enquiry at present.
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
- Bank of
China (HK) Ltd.
- Indian
Overseas Bank
During our report preparation, the
principals could not be contacted while the staff members hesitated to release
financial information without the principals' consent.
SC is
considered a small concern with sufficient tangible responsibility to justify
recommendation.
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 |