MIRA
INFORM REPORT
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Report Date : |
21.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUNNY GEMS |
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Registered Office : |
Flat C, 6/F, Kimberley Mansion, 15 Austin
Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.03.1992 |
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Com. Reg. No.: |
15337806 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in
trading of gemstones & jade. |
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 |
Company Name & Address
SUNNY GEMS
FLAT C, 6/F, KIMBERLEY MANSION, 15 AUSTIN
AVENUE, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL :
852 23693227
FAX :
852 23122691
EXECUTIVE SUMMARY
INCORPORATION
DATE : 5-3-1992
REGISTRATION
NO. : 15337806
REGISTERED
LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE :
VIJAY RADHA GOVIND (SOLE PROPRIETOR)
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
GEMSTONES & JADE
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 7.77750 =
USD1 AS OF 2006-12-30
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
Note: The correct
address of SC should be the above stated one, instead of the given address –
5/D, South Sea Mansion, TST Kowlong, Hong Kong.
SC was established
under Business Registration number 15337806 on 5-3-1992 with present status as
sole proprietorship.
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
- Vijay Radha Govind / H983452 Rm
A, 14/F, Diamond Court,
10-12
Hillwood Road,
Kowloon,
Hong Kong.
Certain material
change or amendment regarding SC within the last 4 years has been traced &
noted as follows:
Change of business address
: SC moved to the heading business address from Flat C, 9/F, Kam Ma Bldg., 16
Cameron Road, Tsimshatsui, Kowloon, Hong Kong on 24-8-2006.
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.
Vijay Radha Govind,
sole proprietor:
- He is by Indian
nationality
- Embarked upon his
career to present field as a junior salesman in his 20's
Registered
residential address: As stated above.
Property ownership:
Current land search indicates the said premises ownership as follows:
- Owner(s) : Tou
Kok
- Date of purchase
& consideration : 4-4-2001 / HKD1.1M
- Date of mortgage
& secured amount : NA
- Mortgagee : NA
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 : 50 (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 gemstones & jade.
Items available
include ruby, emerald & other semi-precious stones.
Principal
purchases :
Major types of sourcing : Merchandise
Local--type of suppliers : Nil
Buying terms : Nil
Overseas--supplying countries : India
Buying terms : L/C & T/T
Principal market
:
Local--type of customers : Nil
Selling terms : Nil
Overseas--buying countries : Japan, S. Korea, Taiwan, SE Asia, USA &
Europe
Selling terms : L/C & T/T
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.
Property ownership
: Current land search indicates the ownership details of the captioned premises
as follows:
- Owner(s) : Vijay
Hari Prasad & Vijay Radha Govind(SC's sole proprietor)
- Date of purchase
& consideration : 16-11-2005 / HKD3.55M
- Date of mortgage
& secured amount : NA
- Mortgagee : NA
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 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.
Banking relations
are maintained principally with: HSBC.
During our report preparation, the principals
could not be contacted while the staff members hesitated to release financial
information without the principals' consent.
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%)