MIRA
INFORM REPORT
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Report Date : |
01.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
RELIANCE TRADERS |
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Registered Office : |
Flat A4, 6/F, Hankow Centre, 41-47 Peking Rd, Tsimshatsui, Kln |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.02.1981 |
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Com. Reg. No.: |
07053042 |
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Legal Form : |
Partnership |
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Line of Business : |
Traders of diamond and jewellery. |
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 Concern |
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Payment Behaviour : |
Inadequate Experience |
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Litigation : |
Clear |
NAME
RELIANCE TRADERS
ADDRESS
FLAT A4, 6/F, HANKOW CENTRE, 41-47 PEKING RD,
TSIMSHATSUI, KLN, HONG KONG
TEL: 852 23663063
FAX: 852 23110919
EXECUTIVE SUMMARY
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INCORPORATION DATE |
9-2-1981 |
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REGISTRATION NO. |
07053042 |
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REGISTERED LEGAL FORM |
PARTNERSHIP |
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STAFF STRENGTH |
4 |
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AUTHORIZED
CAPITAL |
[IN HK, UNLIMITED COS.
ARE NOT REQUIRED TO FILE ITS CAPITAL PARTICULARS TO BR OFFICE (THE INLAND
REVENUE)] |
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PAID-UP CAPITAL |
NOT APPLICABLE |
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BUSINESS LINE |
DIAMOND &
JEWELLERY TRADING |
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TURNOVER |
NA |
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GENERAL
REPUTATION |
AVERAGE |
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TREND |
ORDINARY |
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EXCHANGE RATE |
HK$ 7.76897 = US$1 |
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HK$ – Hong Kong Dollars
SC was established under Business Registration number 07053042 on 9-2-1981 with present status as partnership.
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
- Mohamed Sadak, Samul Haque / P0706136 Flat/Rm A4, 6/F,
Hankow Ctr, 47 Peking
Rd, Kln, HK
- Kader Abdul Seyed/XD06941(3) -ditto-
- Mohamed Sadakthamby Asik Ali/K420691 -ditto-
- Habeeb Mohamed, Mohamed A./ZZ5033232 Flat No.11 3/F, Prem
Court, J-Tata Rd, Mumbai, India.
No material change or amendment regarding SC has been traced & noted since its inception.
Total number of employees : 4.
Location : Maintaining its office at the heading business address which occupies a gross area of 600 square feet at a commercial & residential building in a shopping & residential district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
The premises is rented.
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.
Kader Seyed Abdul Gani Seyed Aboul, partner: In his 50's. He is by Pakistan nationality. Embarked upon his career to present field as a small businessman in his 20's. 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
Mohamed Sadak, Samul Haque, partner: In his 40's. He is by Pakistan nationality. Embarked upon his career to present field as a junior salesman in his 20's. 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 : 52 (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 and jewellery. Items available include diamond, gemstones, jades, etc
Principal purchases
Major types of sourcing : diamonds & related products
Local--type of suppliers : Nil
Buying terms : Nil
Overseas--supplying countries : India, Thailand, Sri Lanka, Europe (including Belgium)
Buying terms : L/C
Principal market
Local--type of customers : Nil
Selling terms : Nil
Overseas--buying countries : PR China, Europe & Middle East
Selling terms : 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.
Banking relations are maintained principally with: HSBC
Upon
a current contact, Kader Seyed Abdul Gani Seyed Aboul, SC's partner, declined
forwarding any financial information on the ground that SC is a private venture
whose data is not required for public inspection.
SC is considered a fairly-run business with limited potential for further growth.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted indicate that SC was not involved in any property transaction (both purchase & disposal) in Hong Kong for the last 6 years.
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%)