MIRA
INFORM REPORT
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Report Date : |
01.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
INFINITY OVERSEAS LTD. |
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Registered Office : |
Rm F2a, 10/F, Mirador Mansion, 54-64B
Nathan Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16-6-2004 |
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Com. Reg. No.: |
907252 |
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Legal Form : |
Private Limited Co. |
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Line of Business : |
Trading
of electronic components & memory cards. |
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/normal. |
Small |
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Status : |
New
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
name & address
INFINITY OVERSEAS LTD.
RM F2A, 10/F, MIRADOR MANSION, 54-64B NATHAN ROAD,
TSIMSHATSUI, KOWLOON, HONG KONG.
TEL: 852 23115514
FAX: 852 23115535
EXECUTIVE SUMMARY
INCORPORATION DATE :
16-6-2004
REGISTRATION NO. :
907252
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE :
BAHRI GURMEET SINGH (DIRECTOR)
STAFF STRENGTH :
8 (2 IN HONG KONG & 6 IN PR CHINA).
AUTHORIZED CAPITAL : HKD 10,000 = 10,000 SHARES @
HKD1.-
PAID-UP CAPITAL : HKD 10,000
BUSINESS LINE :
TRADING OF ELECTRONIC COMPONENTS & MEMORY CARDS
TURNOVER :
HKD 160M (YEAR ENDED 31-3-2006)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
SMALL AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY
STABLE
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80623 = USD1 AS OF 2007-02-1
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
SC is a
private limited company registered under incorporation file no. 907252 on
16-6-2004.
SC's
shareholders & directors are shown to be as follows:
Shareholders (as at 16-6-2006) Number
of shares held
Bahri Gurmeet Singh 10,000
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Directors
(as at 16-6-2006)
Bahri
Gurmeet Singh / Z-1378621
The
above registration information is based on SC's annual return filed at
Companies Registry within the last 2 years.
SC's
business activities actually commenced in March 2005.
Our current
search revealed certain material change or amendment of SC has been recorded
within the last 2 years & noted as follows:
Shares
allotments on 24-1-2005:
Allottee(s) No.
of share(s)
Bahri Gurmeet Singh 9,999
SC's
registered address: Unit 1, 1/F, Mau
Lam Building, 16-18 Mau Lam St., Jordan, Kowloon, Hong Kong.
The said
premises is mainly occupied as office by Buttar. Hong Kong which is a
secretarial co.
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 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.
Bahri
Gurmeet Singh, director:
- In his
mid 40's
- He is
by Indian nationality
- He has
not yet obtained Hong Kong identity card
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Possesses about 24 years of trading experience
- Moved
to Hong Kong from India in 2001
- He now
spends 2/3 of his time stationing in PR China
Registered
residential address: CL-3, Blk L, Anand Vihar, Jail Road, Hari Nagar, New
Delhi-110064, India.
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 : 50 (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.
Business
categories :
SC is
engaged in trading of electronic components & memory cards.
Items
available include memory cards for mobile phones & digital cameras, memory
modules for computers, welding parts for consumer products & other
electronic components.
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
Principal
market :
Local--type of
customers : Nil
Selling terms : Nil
Overseas--buying
countries : USA, Japan, Indonesia, Dubai
& India
Selling terms : L/C & T/T
Total number of employees : 8 (2 in Hong Kong & 6 in PR China).
Location : Maintaining
its office at the heading business address which occupies a gross area of 600
square feet at a residential building in a commercial & shopping district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
The
premises is rented.
SC also
maintains an PR China based representative office, whose partial information is
as follows:
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Name: Infinity Overseas Ltd. Shenzhen
Representative Office
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Address: Rm 1410, Blk A, Baohua Bldg.,
Huaqiang North Road, Futian District, Shenzhen, Guangdong Province, PR China.
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Tel: 86-755-61689117
- Fax: 86-755-61689114
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Premises size: 67 sq. meters
SC is
not known to have any subsidiary at present.
Overall payment appraisal :
( ) Excellent ( ) Good (
) Average ( ) Fair
( ) Poor (X) 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.
Banking
relations are maintained principally with: HSBC.
During
our report preparation, the principals could not be contacted while the staff
members hesitated to release financial information without the principals'
consent.
Our
onfile records indicated that SC's turnover for the year ended 31-3-2006 was
HKD160M (whilst no documents are available for substantiating such claim).
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 16-6-2006 was nil.
SC is
still in early stage of development with a comparatively limited track record
in its performance. 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/normal. |
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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