MIRA
INFORM REPORT
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Report Date : |
13th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
CHAN-NIT
TRADING CO. |
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Registered Office : |
Rm G
25fl Costa Del Sol Block 8 Laguna Verde, Hunghom 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 : |
Specializes in trading diamonds. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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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Maximum Credit Limit : |
USD4,000 |
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Status : |
Small
Company |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company name & Address
CHAN-NIT TRADING CO
RM G 25FL
COSTA DEL SOL BLOCK 8 LAGUNA VERDE
HUNGHOM
KOWLOON, HONG KONG
TEL : 852 27236407
FAX :
852 27240519
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 13, 1999
REGISTRATION NO. :
22277754
CHIEF EXECUTIVE :
MR. NITESH JAGDISHCHAN CHAUHAN
(CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
NA (AS OF DEC. 31, 2005)
EQUITIES :
NA (AS OF DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 4,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE : HKD 7.78462 = US$1 AS OF 2006-11-13
*Company Registration*
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License number
: 22277754
Date issued : 13
February, 1999
Issuing authority
: Inland Revenue
Department
Type of license
: Business
*Office & Facilities*
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Previous Contact Detail
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Address : Rm 5, 10Fl Haiphong Mansion Tsim Sha
Tsui, Kowloon, Hong Kong
*Corporate & Organization Structure*
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A small-sized company operated and managed by the owner.
*Reputation*
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Reference checking for the purpose of establishing
the firm's reputation within the respective industry failed to reveal any
negative information.
E-mail :
hareshsugenhk@yahoo.com
SC is not known to host website of its own at present.
For the
past two years there is no record of litigation.
*Major Shareholders*
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Under Hong Kong
corporate law, there is no existing "shareholder" in a sole
proprietorship.
Name Nationality
Job Description
Mr. Nitesh Jagdishchan Chauhan Indian General Manager
*Key Personnel*
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Mr. Nitesh Jagdishchan Chauhan
Founder : Sole Founder
Passport no.
: P9132507
Address : Rm 27-A, 7Fl Ocean View Court Chatham Rd,
Tsimshatsui, Kowloon, Hong Kong.
Responsibilities
: Handles the overall management of the company.
Work experience : More than 5 years
*Main Products & Services*
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Specializes in trading diamonds.
Products : Diamonds
*Payment Terms*
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Sales
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Local :
Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Local Distribution Network*
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50% of the annual turnover is attributed to local
sales.
*Export Markets*
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50% of the annual turnover is attributed to export.
SC is
not known to have any subsidiary at present.
PAYMENT RATING : 4 OBTAINED
SCORES: 45
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Implication |
Implications |
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1 |
Scores
85–100 |
Excellent |
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2 |
Scores
75 – 84 |
Above
Average |
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3 |
Scores
50 – 74 |
Average |
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4 |
Scores
35 – 49 |
Fair |
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5 |
Scores
15 – 34 |
Below
Average |
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6 |
Scores
01 – 14 |
Poor |
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NR |
No
Data |
No
Data |
The
rating indicates the payment pattern of SC based upon our Payment Database,
comments from suppliers of SC, information from banks (if available), as well
as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
As a sole proprietorship there is no legal
requirement according to local corporate law for public disclosure of detailed
financials.
SC is considered small-sized in its line with favorable market
conditions. It is considered a credit line up to USD4,000 appears to be within
SC’s capacities.
Attached: trade references
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Trading 5094 Jewelry/Watches/Precious Mtl
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Trading 7102 Diamonds, worked or not, not mounted or set
Trading 7102100000 Diamonds, unsorted
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to North America
Exporting to USA
Importing from Asia
Importing from India
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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