MIRA
INFORM REPORT
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Report Date : |
24.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SHINE STAR |
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Registered Office : |
C/O Rm 1006, 10/F, World Wide House, |
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Country : |
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Date of Incorporation : |
21.07.2005 |
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Com. Reg. No.: |
35845146 |
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Legal Form : |
Partnership |
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Line of Business : |
Engaged in trading of diamond. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
SHINE STAR
C/O RM 1006, 10/F,
WORLD WIDE HOUSE, 19 DES VOEUX ROAD CENTRAL, CENTRAL,
TEL : 852 28620063
FAX : 852 24916310
EXECUTIVE SUMMARY
INCORPORATION DATE :
21-7-2005
REGISTRATION NO. :
35845146
REGISTERED LEGAL FORM : PARTNERSHIP
CHIEF EXECUTIVE : CHAUHAN NILESH MANHARLAL (PARTNER)
STAFF STRENGTH :
3
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
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 : ORDINARY
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 –
SC was established under Business Registration number 35845146 on
21-7-2005 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
- Chauhan Nilesh Manharlal Blk
B, 9/F,
/ E7576196 16
Carnarvon Road, Tsimshatsui,
- Botadara Vipulkumar Bachubhai -- ditto
--
/ ZZ5249189
Certain material change or amendment regarding SC within the last 4
years has been traced & noted as follows:
Change of registered address: SC
moved to the heading registered address from Blk B, 9/F,
Total number of employees: 3.
Location : Maintaining
its correspondence office at the heading business address which occupies a gross
area of 2,000 square feet at a commercial building in a commercial district.
Condition inside the premises during our
visit:
Office/factory layout : Standard.
The premises is rented.
The premises is mainly occupied as an office by Kap Advisory Services
which is a secretarial firm with sideline business in providing co. secretarial
services to its clients including SC.
SC's operating office is located at the residential address of SC's
partner (at Blk B, 9/F,
- Tel: 852-97570845 (mobile phone
no. of SC's partner)
# Detailed information of the said address is not available.
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
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.
Chauhan Nilesh Manharlal, partner:
- In his early 40's & married
- 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:
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
Civil litigations
: (X) see below (
) see per attached
Date :
9-1-2004
Defendant(s) : Chauhan Nilesh Manharlal
Plaintiff(s) : Commissioner of Inland Revenue
Cause of claims : Tax
Claimed amount : HK$33,090
Botadara Vipulkumar Bachubhai, 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 : 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 diamond.
Items available include ruby, emerald, sapphire, precious &
semi-precious stones.
Principal purchases :
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries :
Buying
terms : T/T
& L/C
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : PR China, USA & Europe
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.
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, Antwerpse
Diamantbank N.V.
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.
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%)