MIRA
INFORM REPORT
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Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
TRADEWELL ENTERPRISES HK |
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Registered Office : |
RM 1101, 11fl Hart Ave Plaza 5-9 Hart Ave
Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
15.11.1997 |
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Com. Reg. No.: |
20775904-000 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and local purchase of jewelry, diamonds, gems and other related
precious stone 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 and address
TRADEWELL
ENTERPRISES HK
RM 1101, 11FL HART AVE PLAZA
5-9 HART AVE TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-23691302
FAX: 852-23665212
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 15, 1997
REGISTRATION NO. :
20775904-000
LEGAL FORM :
SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. MEERAN HAROON THAIKA (CHAIRMAN)
STAFF STRENGTH :
3
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78611 = US$1
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
*Trading Name*
============
Although the company is legally registered by the name listed above, it
is commonly known as TRADEWELL under which it operates locally.
*Company Registration*
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License number : 20775904-000
Date issued : 15
November, 1997
Issuing authority : Business
Registration Office - Inland Revenue Dept
Legal form : Sole
Proprietorship
Type of license : Business
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
Based on corporate filing regulations for this type of entity in Hong
Kong, there is either, no requirement for Shareholders or no requirement for public
disclosure of Shareholders.
*Key Personnel*
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Mr. Meeran Haroon Thaika
Founder :
Sole founder
ID number :
P1114313
Address : Rm
G 30Fl Sorrento Tower 6, 1 Austin Rd West, Tsimshatsui, Kowloon Hong Kong
Responsibilities :
Handles the overall management of the company.
*Main Products & Services*
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Specializes in the following areas of work:
1. Import and local purchase of jewelry, diamonds, gems and other
related precious stone products.
2. Wholesale distribution of the purchased products to local and
international market.
Products also include:
- Eight-carat tri-coloured diamond necklace
Products: Diamond necklaces
Diamond
polishing
Diamonds
Gems
Jewelry
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*International Exhibition Participation*
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Exhibition fair : Hong Kong In
Style Fair
Date attended : 22 November,
2005
Location : Dubai
United Arab Emirates
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains affiliated companies in USA and Thailand.
Note : Has a plan of setting-up a subsidiary in Dubai United Arab
Emirates.
PAYMENT RATING : 4 OBTAINED SCORES :
47
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL amounts
depending on individual judgement experience.
As a sole proprietorship there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a 10 year development history.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry, of
precious metal
Trading 3961 Jewelry of materials
other than solid gold, platinum & silver
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7103 Precious
& semiprec stones, not strung etc
Trading 7103910000 Rubies,
sapphires and emeralds, otherwise worked
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Polished
sapphire
Trader Polished
rubies
Trader Polished
diamonds
Trader Diamond
necklaces
Trader Jewelry
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Japan
Exporting to North America
Exporting to USA
Importing from Asia
Importing from India
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%)