MIRA
INFORM REPORT
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Report Date : |
04.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MOHIT GEMS |
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Registered Office : |
Flat B, 9/F, Golden Glory Mansion, 16 Carnavon Road, Tsimshatsui,
Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
13-6-1997 |
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Com. Reg. No.: |
21011682 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import & Export 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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
MOHIT GEMS
FLAT B, 9/F, GOLDEN GLORY MANSION, 16 CARNAVON ROAD, TSIMSHATSUI,
KOWLOON, HONG KONG.
TEL: 852 23670499
FAX: 852 23671499
EXECUTIVE SUMMARY
INCORPORATION DATE :
13-6-1997
REGISTRATION NO. :
21011682
REGISTERED LEGAL FORM :
SOLE PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. PATEL MAHESHKUMAR ZAVER BHAI (SOLE PROPRIETOR)
STAFF STRENGTH :
3
AUTHORIZED CAPITAL
:
N/A [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 :
IMPORT & EXPORT OF DIAMOND
TURNOVER :
HK$ 10M (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE :
SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78653 = USD1
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 is the heading one instead of the
address given one. Your given address
is a post office no. in Tsimshatsui post office.
SC was established under Business Registration number 21011682 on
13-6-1997 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 Maheshkumar Zaver Bhai Unit
E, 11/F, Union Mansion,
/ Q320002 33-35
Chatham Road,
TST,
Kowloon, Hong Kong.
Total number of employees: 3.
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
residential district.
Condition inside the premises during our visit: Normal.
Office/factory layout: Standard.
The premises is rented.
Patel Maheshkumar Zaver Bhai, sole proprietor:
- In his 40's
- He is by Indian nationality
- He has over 10 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: As stated above.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s): Ahuja Gopaldas Holaram & Ahuja Tarama Gopaldas
- Date of purchase / consideration: 13-11-2006 / HK$2.8M
- 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 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
: 58 (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.
Upon a current contact, Mr. Nilesh, SC's staff member, refused releasing
detailed financial data but advised that SC's turnover for the year ended
31-12-2006 was HK$10M.
Banking relations are maintained principally with: HSBC.
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 records 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.
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.
Business categories:
SC is engaged in import & export of diamond.
Items available include ruby, sapphire, black diamond, emerald, jadeite,
citrine, topaz, garnet & opal.
Principal purchases:
Major types of sourcing :
Diamond
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
PR China & Russia
Buying terms :
L/C, T/T & special agreed terms
Principal market:
Local--type of customers :
Nil
Selling terms :
Nil
Overseas--buying countries :
Europe & USA
Selling terms :
L/C, T/T & special agreed terms
SC is not known to have any subsidiary at
present.
SC is considered small-sized in its line locally with acceptable base to
meet its normal dealings. Credit
dealings of small amount may be considered.
-- 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. |
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%)