MIRA
INFORM REPORT
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Report Date : |
06.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
TELE SHOP LTD. |
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Registered Office : |
Rm 1118, 11/F, Metro Centre Ii, 21 Lam Hing St., Kowloon
Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
5-6-2002 |
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Com. Reg. No.: |
800745 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in trading of household products. |
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
TELE SHOP LTD.
RM 1118, 11/F, METRO CENTRE II,
21 LAM HING ST., KOWLOON BAY, KOWLOON, HONG KONG.
TEL: 852 28728086
FAX: 852 28558511
EXECUTIVE SUMMARY
INCORPORATION DATE :
5-6-2002
REGISTRATION NO. :
800745
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. SELARKA BIMAL MADHUKANT (DIRECTOR)
STAFF STRENGTH :
10
AUTHORIZED CAPITAL :
HK$10,000 = 10,000 SHARES @ HK$1.-
PAID-UP
CAPITAL : HK$10,000
BUSINESS LINE :
TRADING OF HOUSEHOLD PRODUCTS
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 : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79566 = 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.
800745 on 5-6-2002.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 5-6-2007) Number
of shares held
- Selarka Bimal Madhukant 3,333
- Selarka Viral Madhukant 3,334
- Selarka Nilesh Mansukhlal 3,333
--------
10,000
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Director(s) (as at 5-6-2007)
- Selarka Bimal Madhukant / P285500 (7)
- Selarka Viral Madhukant / P630480 (3)
- Selarka Nilesh Mansukhlal / P537081 (0)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Total number of employees: 10.
Location: Maintaining
its office & warehouse at the heading business address which occupies a
gross area of 2,500 square feet at an industrial building in an industrial
district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Property ownership: Current land search indicates the ownership details
of the heading premises as follows:
- Owner(s): Selarka Bimal Madhukant & Selarka Nilesh Mansukhlal
- Date of purchase / consideration: 30-11-2000 / HK$2M
- Date of mortgage / secured amount: 7-12-2006 / ANS
- Mortgagee : Bank of China (HK) Ltd.
Jointly occupying the premises with Comet (HK) Ltd.
Selarka Nilesh Mansukhlal, director:
- Embarked upon his career to present field in his mid 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat D, 1/F, Blk 4, Phase 1, Laguna
City, 33 Laguna St., Lam Tin, Kowloon, Hong Kong.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s): Selerka Nilesh Madhukant
- Date of purchase / consideration: 18-11-2004 / HK $2,375,000
- Date of mortgage / secured amount: 18-11-2004 / ANS
- Mortgagee : Standard Chartered Bank (HK) Ltd.
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
Selarka Viral Madhukant, director:
- Embarked uon his career to present field in his mid 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: No.201, Blk P, Telford Gardens, Kowloon
Bay, Kowloon, Hong Kong.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s): Selarka Viral Madhukant
- Date of purchase / consideration: 10-1-2004 / HK$1.25M
- Date of mortgage / secured amount: 10-1-2004 / ANS
- Mortgagee : Bank of China (HK) Ltd.
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 : 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, Ms. Lui, SC's shipping manager, 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 5-6-2007 was NA.
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 since its incorporation date.
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 trading of household products.
Items available include cooker, kettle & coffee maker.
Production is mostly assigned to its sub-contractor(s) based in PR China.
Principal purchases:
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : PR China
Buying
terms : L/C, T/T
& special agreed terms
Principal market:
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : USA & Europe
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 trade engagements. 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%)