MIRA
INFORM REPORT
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Report Date : |
12.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
GEM DE ORIENT |
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Registered Office : |
Unit A-1, 13/F, Hankow Centre, 47 Peking Road, Tsimshatsui, Kln., |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.07.1969 |
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Com. Reg. No.: |
02171556 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading of Precious Stones & Watches |
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 : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
GEM DE ORIENT
UNIT A-1, 13/F, HANKOW CENTRE, 47 PEKING ROAD, TSIMSHATSUI, KLN., HONG
KONG.
TEL: 852 25211403
FAX: 852 28681956
EXECUTIVE SUMMARY
INCORPORATION DATE :
1-7-1969
REGISTRATION NO. :
02171556
REGISTERED LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE :
MUJEEBUR RAHMAN HABEEB (PARTNER)
STAFF STRENGTH :
4
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 PRECIOUS STONES & WATCHES
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79772 = 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 02171556 on 1-7-1969
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
- Ahmed Sadiq Khalcel Sulaiman Mohamed / Flat
A-1, 8/F, Hankow Centre, 47
B103309 Peking
Road, Tsimshatsui, Kln., HK.
- Mujeebur Rahman Habeeb / XD508903 (A) Flat
A-1, 13/F, Hankow Centre, 47
Peking
Road, Tsimshatsui, Kln., HK.
- Habeebsyed Mohamed Mukrim / K396470 (1) 2/F, 9-11 Lock Road, Tsimshatsui,
Kln.,
Hong Kong.
- Sabib Thaika / XA879202 (8) 2/F,
9-11 Lock Road, Tsimshatsui,
Kln.,
Hong Kong.
- Sabeeha / K930160 (7) Flat
A-1, 8/F, Hankow Centre, 47
Peking
Road, Tsimshatsui, Kln., HK.
Total number of employees: 4.
Location: Maintaining its office at the heading business address which occupies a
gross area of 837 square feet at a commercial building in a commercial &
shopping district.
Condition inside the premises during our visit: Normal.
Office/factory layout: Standard.
The premises are rented.
Mujeebur Rahman Habeeb, partner:
- He is by Indian 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.
Registered residential address: Same as heading business address.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s): Mujeebur Rahman Habeeb (SC's partner)
- Date of purchase / consideration: 5-1-1994 / HK$3.8 M
- Date of mortgage / secured amount: 5-1-1994 / ANS
- Mortgagee: Industrial & Commercial Bank of China (Asia) 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
Ahmed Sadiq Khalcel Sulaiman Mohamed, partner:
- He is by Indian nationality.
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat A-1, 8/F, Hankow Centre, 47 Peking
Road, Tsimshatsui, Kln., HK.
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 : 2 Obtained scores: 63 (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, SC's principal(s) declined forwarding any
financial information on the ground that SC is a private venture whose data is
not required for public inspection.
Re: In Hong Kong, only the
public listed cos., financial institutions & overseas cos. are obligated to
file their financial statements to Companies Registry for public search. Generally, the private limited cos. &
unlimited cos. always keep those data as highly confidential matter.
Banking relations are maintained principally with:
- ABN AMRO Bank N.V.
- Fortis Bank
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.
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 trading of precious stones & watches.
Items available include colored gemstones, emeralds, rubies, diamond
watches, gold watches, quartz analogue watches, leather brand watches,
stainless steel & alloy watches.
Brand available includes Zenart (Swiss watches).
Principal purchases:
Major types of sourcing :
Merchandise
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
Thailand, India, USA & Europe
Buying terms :
L/C
Principal market:
Local--type of customers :
Nil
Selling terms :
Nil
Overseas--buying countries :
PR China, Japan, USA & Europe
Selling terms :
L/C
SC is not known to have any subsidiary at
present.
SC is considered small medium-sized in its line locally with acceptable
base to meet its normal dealings. Credit up to moderate amount may be
considered.
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%)