MIRA
INFORM REPORT
|
Report Date : |
13.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
IMOTO EXPORTS LTD |
|
|
|
|
Registered Office : |
2FL Eader Centre 39-41 Hankow Rd, Tsimshatsui Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
October 23, 1990 |
|
|
|
|
Com. Reg. No.: |
0289919 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Buyer and distributor of electronics, hi-fi systems, home appliances,
household and sundry items. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Up To USD 20,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
IMOTO EXPORTS LTD
2FL EADER CENTRE 39-41 HANKOW RD
TSIMSHATSUI KOWLOON, HONG KONG.
TEL : 852- 27362300
FAX : 852-27362260
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 23, 1990
REGISTRATION NO. :
0289919
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. RAJKUMAR NARAINDAS SABNANI (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 3,000,000
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 20,000
MARKET CONDITION :
COMPATITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81518 = US$1 AS OF 2007-4-13
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
*Company Name*
=============
Incorporated as : REMIX ELECT LTD
Date of incorporation : 23
October, 1990
Changed name to : IMOTO EXPORTS LTD
Date of changed : 10 April, 2002
*Company Registration*
===================
(1)
License number : 0289919
Date issued : 23 October, 1990
Issuing authority : Companies Registry
Legal form : Private Limited Company
Type of license : Corporate
(2)
License number : 14193677-000
Issuing authority :
Business Registration Office - Inland Revenue Dept
Type of license : Business
*Capital Details*
============
Authorized capital : USD 3,000,000.00 divided into 3,000,000 ordinary
shares at USD 1.00/-each
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
=================
Only Mr. Rajkumar Naraindas Sabnani can sign on behalf of the company
with seal affixed.
E-mail: sushil@acemk.com.hk
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders
: 2
Total number of ordinary shares :
3,000,000
Shareholders' Name No. of Ordinary Shares Amount of Shares (HKD) % of Shares
--------------------------
------------------------------- ---------------------------------- ----------------
Rajkumar Naraindas Sabnani 2,999,999 2,999,999.00 100.00
Nirmal Kumar Ramchand Dhusia 1 1.00 0.00
*Director's Details*
===============
Mr. Rajkumar Naraindas Sabnani
Founder : Co-Founder
National ID No. : P325670(0)
Address : 2Fl Baguio Villa Lower - Block 46
Pokfulam 555 Visctoria Rd Hong Kong
Responsibilities : Handles the
overall management of the company.
*Company Secretary*
=================
DHUN'S MANAGEMENT SERVICES LTD
Address : 7Fl Man On Commercial Bldg 12-13 Jubilee St Central Hong Kong
CR no. : 27006
Email :
cpa@dhunsukh.com.hk
Management: Mr. Jagiashi Sushil,
Representative
Mr. Vijay Kumar Amrutlal Sabani, Manager
Name Nationality
Job Description Dept. / Division
Mr. Jagiashi Sushil Indian
Representative Marketing
Mr. Vijay Kumar Amrutlal Sabani Indian
Manager Quality Control
*Key Personnel*
=============
(1)
Mr. Rajkumar Naraindas Sabnani
Founder : Co-Founder
National ID No. : P325670(0)
Address : 2Fl
Baguio Villa Lower - Block 46 Pokfulam 555 Visctoria Rd Hong Kong
Responsibilities : Handles
the overall management of the company.
(2)
Mr. Jagiashi Sushil
Tel : 27362300
Fax :
27362260
Address : 2Fl
Eader Centre 39-41 Hankow Rd Tsimshatsui Kowloon Hong Kong
(3)
Mr. Vijay Kumar Amrutlal Sabani
National ID No. : R283097(2)
Address : Flat F,
South Sea Mansion 81 Chatham Rd Tsimshatsui Kowloon Hong Kong
(4)
Mr. Sunil Jamanand Turani
National ID No. :
R279392(9)
Address : Flat
F, 5Fl South Sea Mansion 81 Chatham Rd Tsimshatsui East Kowloon Hong Kong
Date of Appointment : 9 February, 2007
*Main Products & Services*
======================
Operates as buyer and distributor of electronics, hi-fi systems, home
appliances, household and sundry items.
Products: Alarm clock
Coffee grinders
Electric
kettle
Electrical
appliances
Electronic
products
*Payment Terms*
=============
Sales
------
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
--------------
Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
=======================
There is no record of local sales since the prime focus of the firm's
activity is concentrated on exports only.
*Export Markets*
=============
100% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 50
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for MODERATE
amounts depending on individual judgement experience.
*Bank Details*
============
Bank name : INDIAN OVERSEAS BANK
Branch : Hong Kong
Account no. : 1000441378
Swiftcode : IOBAHKHH
*Financials*
==========
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with stable financial conditions. A credit line up to USD20,000 would
appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3600 Electronic
& Electric Equip.
Trading 3639 Household appliances, and parts,
Trading 3651 Radio
& tv receiving sets; phonographs; recorders,; microphones; loudspeakers;
audio
amplifiers; & oth audio equip
Trading 5064 Electrical
Appliances
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 6601990000 Umbrellas
Trading 7615 Household
art etc, pot scour etc, san ware, aluminum
Trading 8211 Knives
with blades & blades for knives, base metal parts
Trading 8211929030 Kitchen
and butcher knives with fixed blades
Trading 8509 Electromech
domestic appliances; parts
Trading 8509400040 Electric
domestic food grinders and processors
Trading 8513102000 Flashlights
Trading 8518 Microphones;
loudspeakers; sound amplifier etc, parts
Trading 8518500000 Electric
sound amplifier sets
Trading 9105110000 Alarm
clocks, battery or ac powered
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trading Hi-fi systems
Trading Home appliances
Trading Household items
Trading Houseware products
Trading Kitchen knife
Trading Rechargeable flashlights
Trading Stainless steel products
Trading Umbrella
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Argentina
Exporting to Asia
Exporting to Europe
Exporting to India
Exporting to Italy
Exporting to Poland
Exporting to South America
Importing from Asia
Importing from China
Importing from Taiwan
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)