MIRA
INFORM REPORT
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Report Date : |
28th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
GEM
CRAFTS COMPANY |
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Registered Office : |
2
Flat D, 5/F, Hon Kwong Mansion, 25-29 Hankow Rd, Tsimshatsui, Kowloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.10.2003 |
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Com. Reg. No.: |
34000634 |
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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 : |
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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Status : |
Small
Company |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company name & Address
GEM CRAFTS COMPANY
2 FLAT
D, 5/F, HON KWONG MANSION,
25-29 HANKOW RD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23671585
FAX : NOT REGISTERED
EXECUTIVE SUMMARY
INCORPORATION DATE :
3-10-2003
REGISTRATION NO. :
34000634
REGISTERED LEGAL FORM : PARTNERSHIP
CHIEF EXECUTIVE : HABEEBU RAHMAN (PARTNER)
STAFF STRENGTH :
2
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 :
SMALL AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.77566 = 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 correct name of SC is the heading one instead
of the name given by you. The correct building name is also the heading one.
SC was established under Business Registration
number 34000634 on 3-10-2003 with present status as partnership.
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
Habeebu Rahman / XE293066(6) Same
as heading business address
Abdol Kareem Jaueed Hussain / Z1363635 Same as heading
business address
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.
Habeebu Rahman, partner:
- In his mid 30's
- He is by Indian nationality
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
Abdol Kareem Jaueed Hussain:
- In his late 30's
- He is by Indian nationality
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 : 53 (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 gem stones, diamond,
bracelets, necklaces & diamond rings
Income is received in the form of commission.
Principal purchases :
Major types of sourcing :
Diamonds & fine jewellery
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
India & Belgium
Buying terms :
L/C, T/T & credit of 60 days
Principal market :
Local--type of customers :
Wholesalers, retailers & dealers
Selling terms :
COD & credit of 30 days
Overseas--buying countries : PR
China & SE Asia
Selling terms :
L/C, T/T & credit of 60 days
Total number of
employees : 2.
Location : Maintaining its office at the heading business
address which occupies a gross area of 700 square feet at a 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
(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 commerical 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:
Bank of India
Upon a
current contact, Habeebu Rahman, SC's partner, 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.
SC is considered small-sized in its line
locally. With regard to its size of operation and limited growth potential,
credit should be confined to small amount at present.
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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