MIRA
INFORM REPORT
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Report Date : |
21.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
KUNMING TRADING CO. |
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Registered Office : |
Flat B, 12/F, Alpha House, 27-33 Nathan Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.11.1993 |
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Com. Reg. No.: |
17552882 |
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Legal Form : |
Partnership |
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Line of Business : |
Engaged in trading of diamond & gemstones. |
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 : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
KUNMING
TRADING CO.
FLAT B, 12/F,
ALPHA HOUSE, 27-33 NATHAN ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23685997
FAX : 852 27239408
EXECUTIVE SUMMARY
INCORPORATION DATE :
17-11-1993
REGISTRATION NO. :
17552882
REGISTERED LEGAL FORM : PARTNERSHIP
CHIEF EXECUTIVE : MAHESHWARI DEEPA (PARTNER)
STAFF STRENGTH :
4.
AUTHORIZED CAPITAL :
[IN HK, 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 DIAMOND & GEMSTONES
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81333 = USD1 AS OF 2007-2-14
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 17552882 on
17-11-1993 with present status as partnership.
Currently obtained BR copy indicates the particulars of SC's principal(s)
are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered
address
- Maheshwari Ajay / K596205(6) Rm A,
10/F, Kok Pah Mansion,
58-60
Cameron Road,
Tsimshatsui,
Kowloon, HK.
- Maheshwari Deepa / P095590A Rm B3,
14/F, Hankow Centre,
47
Peking Road & 4A Ashley Road,
Tsimshatsui,
Kowloon, HK.
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Maheshwari Deepa 2-5-2003
Name(s) of retired partner(s) Leaving
date
Jakhotia Damodar Prasad R 2-5-2003
Total number of employees : 4.
Location : Maintaining
its office at the heading business address which occupies a gross area of 500
square feet at a residential building in a residential district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Property ownership : Current land search indicates the ownership details
of the captioned premises as follows:
- Owner(s) : Maheshwari Ajay
(SC's partner)
- Date of purchase & consideration : 31-3-2003 / HK$0.75M
- Date of mortgage & secured amount : 31-3-2003 / ANS
- Mortgagee : Wing Lung Bank Ltd.
SC also maintains branch offices in Yamanashi of Japan & Mumbai of
India.
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 HK, unlimited companies are not
required to file its charge particulars for public inspection.
Maheshwari Deepa, partner:
- In her mid 40's & married.
- She is by Indian nationality.
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) : Maheshwari Ajay & Maheshwari Deepa
- Date of purchase & consideration : 15-11-1999 / HK$3.5M
- Date of mortgage & secured amount : 15-11-1999 / ANS
- Mortgagee : Hang Seng Bank 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
Maheshwari Ajay, partner:
- He is by Indian nationality
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 : 60 (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 diamond & gemstones.
Items available include diamond, precious & semi-precious &
coloured gemstones (including rough color stones, lapies, tigers, sapphires,
ruby, ambers, etc.).
Principal purchases :
Major
types of sourcing : Diamonds
& gemstones
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : Pakistan, India (mainly),
Thailand, Brazil, Sri Lanka, South Africa & SE Asia
Buying
terms : T/T
& L/C
Principal market :
Local--type
of customers : Retailers &
exporters
Selling
terms : COD &
credit of 30-45 days
Overseas--buying
countries : Europe, Japan, North &
South America, PR China & SE Asia
Selling
terms : T/T &
L/C
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: 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.
Banking relations are maintained principally with: Hang Seng Bank Ltd.
Upon a current contact,
Ms. Lung, SC's administrator, 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 acceptable base to
meet its normal dealings.
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%)