MIRA
INFORM REPORT
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Report Date : |
04.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MEGA STAR |
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Registered Office : |
Rm A5, 7/F, Hankow Centre, 47 Peking Rd., Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
26-2-2001 |
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Com. Reg. No.: |
31602180 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in trading of gems & 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 |
name & address
MEGA STAR
RM A5, 7/F, HANKOW CENTRE,
47 PEKING RD., TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23665075
FAX : 852 23662227
EXECUTIVE SUMMARY
INCORPORATION DATE :
26-2-2001
REGISTRATION NO. :
31602180
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. MCHAMED ASMATHULLA KHAN SHAHUL HAMEED
(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 :
TRADING OF GEMS & DIAMOND
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79201 = 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 was established under Business Registration number 31602180 on
26-2-2001 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
- Mchamed Asmathulla Khan Shahul Same as
heading business address
Hameed
No material change or amendment regarding SC has been traced & noted
since its inception.
Total number of employees: 3.
Location : Maintaining
its office at the heading business address which occupies a gross area of 700
square feet at a residential building in a commercial & residential
district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Mchamed Asmathulla Khan Shahul Hameed, sole proprietor:
- In his mid 40's & married
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
Property ownership: Current land search indicates the said premises ownership
as follows:
- Owner(s) : Shaik Kamal Shahul Hameed & Jamal Mohamed Hameed
Musthafa
- Date of purchase / consideration : 26-11-1997 / HK$4,915,000
- 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 : 57 (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.
During our report preparation, the principals could not be contacted
while the staff members hesitated to release financial information without the
principals' consent.
Banking relations are maintained principally with: Hang Seng Bank Ltd.
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 HK, 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.
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 trading of gems & diamond.
Items available include including ruby, sapphire, tiger, rough colour
stones & cut diamond.
Principal purchases:
Major
types of sourcing : Diamond
& gemstones
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India (mainly), Africa &
other Asian countries
Buying
terms : L/C
& T/T
Principal market:
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : PR China & SE Asia
(mainly Thailand)
Selling
terms : L/C &
T/T
SC is
not known to have any subsidiary at present.
SC is considered small-sized in its line
with a 6 years development history. With regard to its size of operation and limited
growth potential, credit should be confined to small amount at present.
-- 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%)