MIRA
INFORM REPORT
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Report Date : |
08.08.2007 |
IDENTIFICATION DETAILS
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Name : |
VRAMS IMPEX (HK) LTD |
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Registered Office : |
Rm J2, 8FL Kaiser Estate - Phase 2, |
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Country : |
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Date of Incorporation : |
February 23, 2006 |
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Com. Reg. No.: |
1025968 |
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Legal Form : |
Private |
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Line of Business : |
Importing jewelry, watches and precious stones and metals. Sales and distribution to local market. |
RATING & COMMENTS
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MIRAs 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 |
name & address
VRAMS IMPEX (HK) LTD
RM J2, 8FL KAISER ESTATE - PHASE 2, 51 MAN YUE ST HUNGHOM
TEL : [+852] 23114136
FAX : [+852] 23661147
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 23, 2006
REGISTRATION NO. :
1025968
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. VITHAL DHANJIBHAI VAGHASIA (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 1,279
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT : FAIR
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : AVERAGE
GENERAL REPUTATION : N/A
EXCHANGE RATE :
HKD 7.82875 = USD1 AS OF 2007-08-07
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M million
HKD
*Company Registration*
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(1)
License number :
1025968
Date issued
: 23 February, 2006
Issuing authority :
Companies Registry
Type of license :
Corporate
(2)
License number :
36489608-000
Issuing authority :
Business Registration Office - Inland Revenue Dept
Type of license :
Business
*Capital Details*
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Share value
: HKD 1.00/-each
Authorized capital :
HKD 10,000.00
Paid-up capital
: HKD 100.00
*Reputation*
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Unable to locate any points of reference within the industry
due to the relatively small nature of the company
*Corporate Secretary*
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CITY LIGHT ACCOUNTANCY CONSULTANTS LTD
CR no. : 330495
Address : Rm 1315 Leighton Centre
*Approved Signatures*
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Only Mr. Vithal Dhanjibhai Vaghasia can sign on behalf of
the company with seal affixed.
Email : vramshk@gmail.com
SC is not known to host website of its own at present.
For the past 1 year there is no
record of litigation.
*Major Shareholders*
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Total number of shareholder : 1
Total number of ordinary shares : 100
Shareholder's Name No. of Ordinary Shares Amount of Shares (HKD) % of Shares
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Vithal Dhanjibhai Vaghasia 100 100.00 100.00
Note : On 2 May, 2006, EMH CORPORATE SERVICES LTD
transferred all of its shares to Vithal Dhanjibhai Vaghasia.
*Directors' Details*
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Vithal Dhanjibhai Vaghasia
HKID no. : P780295(5)
Address : Flat B
Management : Mr. Vithal Patel, Representative
Name
Nationality Job
Description
Mr. Vithal Patel
Indian
Representative Sales
*Key Personnel*
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Vithal Dhanjibhai Vaghasia
HKID no. :
P780295(5)
Address :
Flat B
Responsibilities :
Handles the overall management of the company.
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing jewelry, watches and precious stones and
metals.
2. Sales and distribution to local market.
Products : Jewelry
Precious metals
Precious stones
Watches
*Payment Terms*
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Sales
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Local : Cash or
Credit
Purchases
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Local : Cash or
Credit
Import : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
*Local Distribution Network*
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100% of the annual turnover is attributed to local
sales.
*Export Markets*
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There is no record of export since the prime focus of the
firm's activity is concentrated on local sales only.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES : 42
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Implication |
Implications |
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1 |
Scores 85100 |
Excellent |
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2 |
Scores 75 84 |
Above Average |
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3 |
Scores 50 74 |
Average |
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4 |
Scores 35 49 |
Fair |
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5 |
Scores 15 34 |
Below Average |
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6 |
Scores 01 14 |
Poor |
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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 SMALL
depending on individual judgement experience.
As a privately owned company there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
SC was established recently in 2006, and its credit has not been
established yet.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Importing 3873 Watches,
clocks, clockwork operated devices, and parts
Importing 3911 Jewelry,
of precious metal
Importing 3961 Jewelry
of materials other than solid gold, platinum & silver
Importing 5094 Jewelry/Watches/Precious
Mtl
Trading 3873 Watches, clocks, clockwork operated devices, and
parts
Trading 3911 Jewelry, of precious metal
Trading 3961 Jewelry of materials other than solid gold, platinum
& silver
Trading 5094 Jewelry/Watches/Precious Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Importing 7113 Articles
of jewelry & parts, of precious metal or clad
Importing 7113200000 Jewelry and parts, base metal clad
w precious metal
Importing 7116201000 Jewelry of precious or
semiprecious stones
Importing 7116204050 Articles of precious or
semiprecious stones, not jewelry
Importing 9100 Clocks
& watches & parts thereof
Importing 9101 Watches,
wrist, pocket etc, prec metal or clad case
Importing 9102 Watches,
wrist, pocket etc, case not prec nor clad
Trading 7113 Articles of jewelry & parts, of precious metal or
clad
Trading
7113200000 Jewelry and parts, base
metal clad w precious metal
Trading
7116201000 Jewelry of precious or
semiprecious stones
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Trader Precious
metals
Trader Precious
stones
Trader Watches
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Importing from
Importing from
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 SCs 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%)