MIRA
INFORM REPORT
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Report Date : |
28th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
COSMOPOLITAN
GEMS |
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Registered Office : |
Flat
E, 16/F, Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.07.1996 |
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Com. Reg. No.: |
20027177 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in import & supply of diamonds &
gemstones. |
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
COSMOPOLITAN GEMS
FLAT E,
16/F, STAR MANSION, 3-5 MINDEN ROW,
TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23669651
FAX : 852 23690798
EXECUTIVE SUMMARY
INCORPORATION DATE :
1-7-1996
REGISTRATION NO. :
20027177
REGISTERED LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE : PARWAL RAJ SHREE (SOLE PROPRIETOR)
STAFF STRENGTH :
3
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 :
IMPORT & SUPPLY OF DIAMONDS & GEMSTONES
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 7.77530 = USD1 AS OF 2006-11-28
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 20027177 on 1-7-1996 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
Parwal Raj Shree / K6975763 Flat
A, 16/F, Star Mansion,
3-5
Minden Row, Tsimshatsui,
Kowloon,
Hong Kong.
No material change or amendment regarding SC has
been traced & noted since its inception.
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.
Parwal Raj Shree, sole proprietor: She 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:
- Owner(s) : Parwel Prem Kumar
- Date of purchase & consideration : 24-7-1998
/ HKD1,140,000
- Date of mortgage & secured amount : 31-8-1998
/ ANS
- Mortgagee : Liu Chong Hing Bank Ltd.
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 import & supply of diamonds
& gemstones.
Items available include diamonds, precious stones,
semi-precious stones, pearls & ruby.
Principal purchases :
Major types of sourcing :
Gemstones & diamonds
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
SE Asia, India (mainly) & South Africa
Buying terms :
L/C, T/T & special agreed terms
Principal market :
Local--type of customers :
Manufacturers, retailers, exporters & counterparts
Selling terms :
COD & credit of 30-60 days
Overseas--buying countries : PR
China & SE Asia
Selling terms :
L/C & T/T
Total number of
employees : 3.
Location : Maintaining its office at the heading business
address which occupies a gross area of 500 square feet at a residential
building in a residential district.
Condition inside
the premises during our visit : Normal.
Office/factory
layout : Standard.
Property ownership : Current land search indicates
the ownership details of the captioned premises as follows:
- Owner(s) : Parwal Raj Shree (SC's sole
proprietor)
- Date of purchase & consideration : 22-4-1996
/ HKD1.3M
- Date of mortgage & secured amount : 25-5-1996
/ ANS
- Mortgagee : Liu Chong Hing Bank Ltd.
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 & Liu Chong Hing Bank Ltd.
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 normally advancing concern with
steady customers and good base to meet its trade engagements. Credit in the range of moderate amount can
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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