MIRA
INFORM REPORT
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Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
GEM STONE COMPANY |
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Registered Office : |
Rm 1102, 11/F, Blk A, Focal Industrial Centre, 21 Man Lok
St., Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
25-4-1988 |
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Com. Reg. No.: |
11754484 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading of 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 : |
Usually correct |
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Litigation : |
Clear |
name & address
GEM STONE COMPANY
RM 1102, 11/F, BLK A, FOCAL INDUSTRIAL CENTRE,
21 MAN LOK ST., HUNGHOM, KOWLOON, HONG KONG.
TEL : 852 23762154
FAX : 852 23762289
EXECUTIVE SUMMARY
INCORPORATION DATE :
25-4-1988
REGISTRATION NO. :
11754484
REGISTERED LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE : BAL KISHAN AGARWAL (PARTNER)
STAFF STRENGTH :
5
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 JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81605 = USD1 AS OF 2007-04-04
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 11754484 on
25-4-1988 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
- Bal Kishan Agarwal / B352960 16/F,
Blk B,
29-31
Chatham Road South,
Tsimshatsui,
Kowloon,
HONG KONG.
- Satyanarayanan Ashishkumar / R4022679 13-31 Ishwarya
Apartments,
11th
Cross Thillai Ngar,
Trichy
India.
Certain material change or amendment regarding SC within the last 4
years has been traced & noted as follows:
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Satyanarayanan Ashishkumar 5-9-2004
Name(s) of retired partner(s) Leaving
date
Nil Nil
Bal Kishan Agarwal, partner: 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
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
Satyanarayanan Ashishkumar, partner:
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 : 56 (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.
Upon a current contact, Satyanarayanan Ashishkumar, 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.
Banking
relations are maintained principally with: HSBC.
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 records 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.
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 operation,
SC is not an active seeker of local commercial
credit. Its
expenses in the form of accruals and servicing are reportedly met in a 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.
Business categories:
SC is engaged in trading of jewellery.
Items available include gemstones, jade, bead, ruby, diamond, precious
& semi-precious jewellery, emerald & gemset.
Principal purchases :
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : SE Asia, Thailand, India
& other Asian countries
Buying terms : L/C & T/T
Principal market :
Local--type
of customers : Wholesalers &
retailers
Selling
terms : COD &
credit of 45 to 60 days
Overseas--buying
countries : USA
Selling
terms : L/C &
T/T
Total number of employees : 5.
Location : Maintaining
its office at the heading business address which occupies a gross area of 2,000
square feet at an industrial building in an industrial district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
SC is not known to have any subsidiary at present.
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.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)