MIRA
INFORM REPORT
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Report Date : |
28.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
JINA GEMS |
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Registered Office : |
Rm 1405, 14/F, Winfield Commercial Building, 6-8a Prat
Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
15-2-1994 |
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Com. Reg. No.: |
17815672 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trading of fine 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 : |
Regular |
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Litigation : |
Clear |
name & address
JINA GEMS
RM 1405, 14/F, WINFIELD COMMERCIAL BUILDING,
6-8A PRAT AVENUE, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 27213650
FAX : 852 23695443
EXECUTIVE SUMMARY
INCORPORATION DATE :
15-2-1994
REGISTRATION NO. :
17815672
REGISTERED LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE : PATEL JINA HEMANDRA (SOLE PROPRIETOR)
STAFF STRENGTH :
1.
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 FINE JEWELLERY
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 7.82610 = USD1 AS OF 2007-04-28
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 17815672 on
15-2-1994 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
- Patel Jina Hemandra / P051272(2) 12/F, Blk
B, Kok Pah Mansion,
58-60
Cameron Road, Tsimshatsui,
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 Rm 928, 9/F,Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong in March 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.
Patel Jina Hemandra, sole proprietor & main founder:
- In his early 40's
- 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 : 55 (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 fine jewellery.
Items available include gemstones, jade, diamond, precious and
semi-precious stones.
Principal purchases :
Major
types of sourcing : Diamonds
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India
Buying
terms : L/C, T/T
& open account of 90 days
Principal market :
Local--type
of customers : Dealers &
jewellery manufacturers
Selling
terms : Credit of 90
to 180 days
Overseas--buying
countries : Japan
Selling
terms : T/T &
open account of 90 to 180 days
Total number of employees : 1.
Location : Maintaining
its office at the heading business address which occupies a gross area of 450
square feet at a commercial building in a commercial & shopping district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
The premises is rented.
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 business, SC is not an active seeker of local commercial credit since merchandise/materials are imported. Its expenses in the form of accruals and servicing are reportedly met in 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.
Upon a current
contact, Patel Jina Hemandra, 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.
Re: In Hong Kong, only the
public listed cos., financial institutions & overseas cos. are obligated to
file their financial statements to Companies Registry for public search. Generally, the private limited cos. &
unlimited cos. always keep those data as highly confidential matter.
SC is considered small-sized in its line locally.
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%)