MIRA
INFORM REPORT
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Report Date : |
13.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
GLOBAL TREND INT'L MFG. LTD. |
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Registered Office : |
Unit H, 11/F, Phase 2, Kaiser Estate, 51 Man Yue St., Hunghom, Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
4.6.2004 |
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Com. Reg. No.: |
904692 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer and Export of Jewellery Items |
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 |
Name and address
GLOBAL TREND INT'L MFG. LTD.
UNIT H, 11/F, PHASE 2, KAISER ESTATE,
51 MAN YUE ST., HUNGHOM, KOWLOON, HONG KONG
TEL: 852 35508300 / 27662618 FAX: 852 35508400
EXECUTIVE SUMMARY
INCORPORATION DATE :
4-6-2004
REGISTRATION NO. :
904692
REGISTERED LEGAL FORM :
PRIVATE LIMITED CO
CHIEF EXECUTIVE : YAN PO TING (DIRECTOR)
STAFF STRENGTH :
20
AUTHORIZED CAPITAL : HK$5M = 5M SHARES @ HK$1.-
PAID-UP CAPITAL : HK$5M
BUSINESS LINE : MANUFACTURE & EXPORT OF JEWELLERY ITEMS
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81469 = USD1 AS OF 2007-4-12
SC is a private limited company registered under incorporation file no. 904692 on 4-6-2004.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 4-6-2006) Number of shares held
- J.B. Collection (H.K.) Ltd. 3,500,000
- Yan Po Ting 1,500,000
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5,000,000
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Directors (as at 4-6-2006)
- Surani Bhupendra Jivrajbhai / P404971(7)
- Yan Po Ting / 200622029
- Kukadia Vinu Virjibhai / R405671(9)
- Pandit Prakashchandra Bakulesh / R308706(8)
The above registration information is based on SC's annual return filed at Companies Registry within the last 2 years.
Our current search revealed certain material change or amendment of SC has been recorded within the last 2 years & noted as follows:
Change in capital : Authorised capital was increased from HKD$10,000 to the present amount on 20-7-2005 with the creation of 4,990,000 shares of HKD$1.-.Paid-up capital: HKD$5,000,000.
Shares allotments on 20-7-2005:
Allottee(s) No. of share(s)
- J. B. Collection (H.K.) Ltd. 3,493,000
- Yan Po Ting 1,497,000
Partial change in SC's directorship as follows:
Name(s) of resigned director(s) Resignation date
- Jethva Vasantkumar Chakubhai NA
Name(s) of newly appointed director(s) Appointment date
- Kukadia Vinu Virjibhai 1-12-2005
- Pandit Prakashchandra Bakulesh NA
The registered office address of SC is at Rm 1105-1108, 11/F, Hilder Centre, 2 Sung Ping St., Hunghom, Kowloon, HK (as given) which is occupied as an office by SC's parent.
Total number of employees : 20.
Location : Maintaining its office at the heading business address which occupies a gross area of 3,000 square feet at an industrial building in an industrial district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
The premises is rented.
SC is a subsidiary of J. B. Collection (H.K.) Ltd. whose partial information is as follows:
Year established : 1988
Registered/business address : Rm 1105-08, 11/F, Hilder Centre, 2 Sung Ping St., Hunghom, Kowloon,
HK.
Business line : Manufacture of fine jewellery
No. of employees : 10
Civil litigation & winding-up petition : None in our database
Turnover : NA
Yan Po Ting, director:
- He is a Chinese mainlander
- Also currently director of Global Trend Trading Ltd.
Currently active in SC's day-to-day operations & is responsible for its management.
Registered residential address: Unit J2, 11/F, Phase 2, Kaiser Estate, 51 Man Yue St., Hunghom, Kowloon, HK.
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
Surani Bhupendra Jivrajbhai, director:
- Also currently director of J.B. International Mfg. Ltd. and J. B. Collection (H.K.) Ltd.
Currently active in SC's day-to-day operations & is responsible for its management.
Registered residential address: 31 King's Park Hill Road, Homantin, Kowloon, HK.
Property ownership: Current land search indicates the said premises ownership as follows:
- Owner(s) : Time Best Holdings Ltd.
- Date of purchase & consideration : 21-5-2003 / HK$34,237,050
- Date of mortgage & secured amount : 21-5-2003 / ANS
- Mortgagee : DBS 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:
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 : 63 (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, Wong Angie, SC's secretary, 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.
As per current co. search, total amount of indebtedness of SC in respect of all mortgages and charges which are required to be registered with Companies Registry as at 4-6-2006 was nil.
Banking relations are maintained principally with: ABN AMRO Bank N.V.
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) : None filed since its incorporation date.
Overall payment appraisal :
( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) 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.
Business categories :
SC is engaged in manufacturing & trading of jewellery items.
Items available include diamond & gemsets.
Production is assigned to its affiliated factory/joint venture factory located at Guangzhou, Guangdong Province, PR China (reportedly employing 300 workers there).
Principal purchases :
Major types of sourcing : Raw materials & accessories
Local--type of suppliers : Importers & distributors
Buying terms : Credit of 90 to 150 days
Overseas--supplying countries : PR China, USA & India
Buying terms : Open account of 90 to 150 days
Principal market :
Local--type of customers : Nil
Selling terms : Nil
Overseas--buying countries : USA
Selling terms : Intercompany account basis
No significant events or changes were found during our checks with the local AIC.
SC is considered medium-sized in its line locally with acceptable base to come into credit dealings of moderate amount.
-- 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%)