MIRA
INFORM REPORT
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Report Date : |
28th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
ORIENT
CORPORATION |
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Registered Office : |
Rm
1102, 11/F, Hiranand House, 1-3 Mody Road, Tsimshatsui, Kowloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.12.1968 |
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Com. Reg. No.: |
2601327 |
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Legal Form : |
Sole Proprietorship |
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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
ORIENT CORPORATION
RM
1102, 11/F, HIRANAND HOUSE,
1-3 MODY ROAD,
TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23679039
FAX : 852 23113096
EXECUTIVE SUMMARY
INCORPORATION DATE : 23-12-1968
REGISTRATION NO. : 2601327
REGISTERED LEGAL
FORM : SOLE PROPRIETORSHIP
CHIEF
EXECUTIVE : AJMERA
PRABHU DAS (SOLE PROPRIETOR)
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 7.77522 = 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
The complete
address of SC is the heading one instead of the one given by you.
SC was established
under Business Registration number 2601327 on 23-12-1968 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
-
Ajmera Prabhu Das / XE395538(4) Unit
FP, 11/F, Ocean View Court,
25
Chatham Road,
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 : (X)
see below ( ) see attached sheet
Date : 28-9-2005
Defendant(s) :
Ajmera Prabhu Das t/a SC
Plaintiff(s) :
Mohamed Reza Djavaheri Saatchi
Cause
of claim : Goods sold / delivered
Claimed
amount : US$90,625
Mortgage/charge
record(s) : In Hong Kong,
unlimited companies are not required to file its charge particulars for public
inspection.
Ajmera Prabhu Das,
sole proprietor:
- In his late 50's
& married
- Embarked upon
his career to present field as a junior salesman in his mid 20's
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) :
Janick Properties Ltd.
- Date of purchase
& consideration : 31-1-1996 /
HKD5.7M
- Date of mortgage
& secured amount : 6-6-2002 / ANS
- Mortgagee :
Standard Chartered Bank (HK) 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:
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
Civil litigations : (X)
see below ( ) see per attached
Date : 28-9-2005
Defendant(s) :
The said person t/a SC
Plaintiff(s) :
Mohamed Reza Djavaheri Saatchi
Cause
of claims : Goods sold / delivered
Claimed
amount : US$90,625
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 gemstones, diamond, jade, emerald, ruby, sapphire, precious &
semi-precious stones.
Principal
purchases :
Major types of sourcing : Merchandise
Local--type of suppliers : Nil
Buying terms :
Nil
Overseas--supplying countries : USA, India, Thailand, Central & South
America
Buying terms :
L/C, T/T & open account of 30 to 60 days
Principal market :
Local--type of customers : Nil
Selling terms : Credit of 30 to 60 days & local L/C
Overseas--buying countries : Japan, Taiwan & USA
Selling terms : T/T, L/C & open account of 30 to 60 days
Total
number of employees : 4.
Location
: Maintaining its office at the
heading business address which occupies a gross area of 800 square feet at a
commercial building in a commercial & shopping district.
Condition
inside the premises during our visit : Normal.
Office/factory
layout : Standard.
Reportedly, SC
maintains a branch office "Orient Stone & Minerals, Inc" in USA.
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.
Upon a
current contact, Ajmera Prabhu Das, 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.
It is difficult to
estimate SC's means which, however, appears to be adequate. With regard to its
length of business and market connection, credit in 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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