MIRA
INFORM REPORT
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Report Date : |
21st
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
VICTORY
JEWELLS |
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Registered Office : |
Flat
A, 12/F, Valiant Commercial Building, 22-24 Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.09.1989 |
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Com. Reg. No.: |
13054173 |
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Legal Form : |
Partnership |
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Line of Business : |
Engaged in trading of fine jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Regular
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Litigation : |
Clear |
Company name & Address
VICTORY
JEWELLS
FLAT A,
12/F, VALIANT COMMERCIAL BUILDING,
22-24 PRAT AVENUE, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL:
852 23684534 FAX: 852 27392433
EXECUTIVE SUMMARY
INCORPORATION DATE :
29-9-1989
REGISTRATION NO. :
13054173
REGISTERED LEGAL FORM : PARTNERSHIP
CHIEF EXECUTIVE : JAIN RAKESH KUMAR (PARTNER)
STAFF STRENGTH :
4
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 FINE JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES : N/A (AS OF
DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM. CREDIT
RANGE : MODERATE AMOUNT
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.78604
= USD1 AS OF 2006-11-21
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 13054173 on 29-9-1989 with present status as partnership.
Currently obtained BR copy indicates the
particulars of SC's principal(s) are as follows:
Name(s) of
principal(s) & ID/Passport number(s) Registered address
- Jain Rakesh Kumar / K947000(A) Flat B,
10/F, Lip Sing Mansion,
15-19 Carnarvon Road, Tsimshatsui,
Kowloon, Hong Kong.
- Jain Seema / P260838(7) -
ditto -
No material change or amendment regarding SC has
been traced within last 4 years.
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.
Jain Rakesh Kumar, main founder:
- He is by Indian nationality
- Embarked upon his career to present field as a
small businessman in his mid 20's
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Flat B, 10/F, Lip
Sing Mansion, 15-19 Carnarvon Road, Tsimshatsui, Kln., Hong Kong.
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
Jain Seema, partner:
- Embarked upon his career to present field in his
20's
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Flat B, 10/F, Lip
Sing Mansion, 15-19 Carnarvon Road, Tsimshatsui, Kln., Hong Kong.
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 : 57 (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 emerald, ruby, sapphire,
rose cut diamond, tourmaline, garnet, moonstone, amethyst, citrine, peridot,
blue topaz, rose quartz smoky & carnelian.
Principal purchases :
Major types of sourcing :
Merchandise
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
PR China, India & Thailand
Buying terms :
T/T & open account of 60-120 days
Principal market :
Local--type of customers : Nil
Selling terms :
Nil
Overseas--buying countries :
Japan, Taiwan, SE Asia, USA & Europe
Selling terms :
T/T, L/C & open account of 60-120 days
Total number of
employees : 4.
Location : Maintaining its office at the heading business
address which occupies a gross area of 1,000 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.
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 : Owing to the
nature of its business, SC is not an active seeker of local commercial credit
since merchandise/materials are imported. Its expenses in the form of accruals
and servicing are reportedly met in prompt manner.
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.
During our report preparation, the principals could
not be contacted while the staff members hesitated to release financial
information without the principals' consent.
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 is considered small-sized in its line locally
with acceptable base to meet its normal dealings. Credit up to moderate amount may be considered.
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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