MIRA
INFORM REPORT
|
Report Date : |
20th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
L D
CREATIONS |
|
|
|
|
Registered Office : |
Flat F, 14/F, Union Mansion, 33-35
Chatham Road, Tsimshatsui, Kowloon, Hong Kong. |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
25.03.2006 |
|
|
|
|
Com. Reg. No.: |
36669282 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Engaged in trading of diamond. |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed
to be exercised |
Credit not recommended |
|
Status : |
New
Company |
|
|
|
|
Payment Behaviour : |
Unknown
|
|
|
|
|
Litigation : |
Clear |
Company name & Address
L. D. CREATIONS
FLAT F, 14/F, UNION MANSION,
33-35 CHATHAM ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 60344237
FAX : 852 23114498
EXECUTIVE SUMMARY
INCORPORATION DATE
: 25-3-2006
REGISTRATION NO.
: 36669282
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE : POPAT NEELANG ARVIND
(SOLE PROPRIETOR)
STAFF STRENGTH
: 1
AUTHORIZED
CAPITAL : [IN HONG KONG,
UNLIMITED COS. ARE NOT REQUIRED TO FILE ITS CAPITAL PARTICULARS TO BR OFFICE
(THE INLAND REVENUE)]
PAID-UP
CAPITAL : NOT
APPLICABLE
BUSINESS
LINE : TRADING OF
DIAMOND
TURNOVER
: N/A (AS OF DEC. 31, 2005)
EQUITIES
: N/A (AS OF DEC. 31, 2005)
PAYMENT : NOT YET DETERMINED
RECOMM. CREDIT RANGE
: C.O.D.
MARKET CONDITION
: COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION
: N/A
EXCHANGE RATE : HKD 7.78754
= USD1
AS OF 2006-11-20
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 was established under Business Registration
number 36669282 on 25-3-2006 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
- Popat Neelang Arvind / R021666(5) Same as
heading business address
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 Unit 802, Guardforce Centre, 8 Hok Yuen St.,
Hunghom, Kowloon, Hong Kong in Oct 2006.
SC's business activities actually commenced in Sep
2006.
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.
Popat Neelang Arvind, sole proprietor:
- He is 35 years old
- He is by Indian nationality
- Embarked upon his career to present field as a
junior salesman in his late 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
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 diamond.
Items available include loose diamond
Principal purchases :
Major types of sourcing :
Diamond
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
India & Belgium
Buying terms :
T/T & open account of 60 to 120 days
Principal market :
Local--type of customers :
Manufacturers & dealers
Selling terms :
COD & credit of 60 to 120 days
Overseas--buying countries : PR
China, Bangkok & USA
Selling terms :
T/T & open account of 60 to 120 days
Total number of
employees : 1.
Location : Maintaining its office at the heading business
address which occupies a gross area of 500 square feet at a commercial &
residential building in a commercial & shopping district.
Condition inside
the premises during our visit : Normal.
Office/factory
layout : Standard.
SC is
not known to 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.
Trade
payment experience : SC has
currently commenced operation, its payment record has remained unestablished.
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:
Wing Lung Bank Ltd.
Upon a current contact, Popat Neelang Arvind, SC's
sole proprietor, declined forwarding any financial information on the ground
that it is the company's policy not releasing any data to a third party without
the benefit of knowing the identity of the inquiring party.
Re: In Hong
Kong, 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 has currently commenced business, still
operating on a small scale basis. As
its track record has remained unestablished & its principals are not
well-known in the trade, a longer period of observation seems appropriate for
considering credit granting.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|