MIRA
INFORM REPORT
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Report Date : |
05.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
BEE KAY DISTRIBUTORS LTD. |
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Registered Office : |
Suite 1207, 12/F, Pacific Plaza, 410-424 Des Voeux Road
West |
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Country : |
Hong Kong |
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Date of Incorporation : |
22-3-1985 |
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Com. Reg. No.: |
148858 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in import & export of general merchandise. |
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 |
name & address
BEE KAY DISTRIBUTORS LTD.
SUITE 1207, 12/F, PACIFIC PLAZA,
410-424 DES VOEUX ROAD WEST, HONG KONG.
TEL: 852 25465999
FAX: 852 28589611
EXECUTIVE SUMMARY
INCORPORATION DATE :
22-3-1985
REGISTRATION NO. :
148858
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. KHEMANEY VASHI LACHMANDAS (DIRECTOR)
STAFF STRENGTH :
4
AUTHORIZED CAPITAL :
HK$1M = 10,000 SHARES @ HK$100.-
PAID-UP
CAPITAL : HK$1M
BUSINESS LINE :
EXPORT & IMPORT OF GENERAL MERCHANDISE
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79646 = 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
SC is a private limited company registered under incorporation file no.
148858 on 22-3-1985.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 22-3-2007) Number
of shares held
- Khemaney Bhagwan 9,999
- Khemaney Vashi 1
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10,000
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Director(s) (as at 22-3-2007)
- Khemaney Vashi Lachmandas / XD477210 (0)
- Khemaney Bhagwan Lachmandas / XA849040 (3)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
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 building in a commercial district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Khemaney Vashi Lachmandas, director:
- He has over 20 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat C, 24/F, Blk 21, Baguio Villa, 555
Victoria Road, Hong Kong.
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
Khemaney Bhagwan Lachmandas, director:
- He has over 20 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Khemaney Vashi Lachmandas.
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 : 60 (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, Ms. Ng, SC's administrator, 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.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 22-3-2007 was nil.
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) : None filed within the last 2 years as per
our current search.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2003, 2005
Year(s) in which mortgage satisfaction record(s) are filed: Nil
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: SC did not provide any name of trade/service suppliers and we have no other sources to conduct the enquiry at present.
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 general merchandise.
Items available include toys, travel bags & luggage, lighting
products & calculators.
Principal purchases:
Major
types of sourcing : Nil
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : PR China & SE Asia
Buying
terms : L/C, T/T
& special agreed terms
Principal market:
Local--type
of customers : Manufacturers &
wholesalers
Selling
terms : COD, local
L/C & special agreed terms
Overseas--buying
countries : USA, Europe, Middle East, PR
China & SE Asia
Selling
terms : L/C, T/T,
open account of 30 days & special agreed terms
SC is not known to have any subsidiary at
present.
SC is considered a normally advancing
concern with steady customers and good base to meet its trade engagements. Credit in the range of small amount can 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%)