MIRA
INFORM REPORT
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Report Date : |
20th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN STAR EXPORTS LTD. |
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Registered Office : |
Flat L1, 12/F, Summit Building, 30 Man Yue St., Hunghom, Kowloon, Hong Kong. |
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Country : |
Hong Kong. |
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Date of Incorporation : |
6-8-2004 |
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Com. Reg. No.: |
915912 |
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Legal Form : |
Private Limited Co |
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Line of Business : |
Engaged in trading of jewellery 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/normal. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Name & address
GOLDEN STAR EXPORTS LTD.
FLAT L1, 12/F, SUMMIT BUILDING,
30 MAN YUE ST., HUNGHOM, KOWLOON, HONG KONG.
TEL: 852 23114055
FAX: 852 23114002
EXECUTIVE SUMMARY
INCORPORATION DATE : 6-8-2004
REGISTRATION NO. : 915912
REGISTERED LEGAL FORM : PRIVATE LIMITED CO
CHIEF EXECUTIVE :
AIR ANIL RAMCHANDRA (DIRECTOR)
STAFF STRENGTH : 3
AUTHORIZED CAPITAL : HKD10,000 = 10,000 SHARES @
HKD1.-
PAID-UP CAPITAL : HKD10,000
BUSINESS LINE : TRADING OF JEWELLERY
PRODUCTS
TURNOVER : N/A (AS OF DEC.
31, 2005)
EQUITIES : N/A (AS OF
DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : HKD 7.76749 = USD1 AS OF 2006-06-30
SC is a private limited company registered under incorporation file no. 915912 on 6-8-2004.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 6-8-2005) Number of shares held
Air Anil Ramchandra 9,500
Rathod Rupal Udaysingh 500
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10,000
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Directors (as at 6-8-2005)
Air Anil Ramchandra / P404981(4)
Rathod Rupal Udaysingh / R130031(7)
The above registration information is based on SC's annual return filed at Companies Registry within the last 2 years.
Our current search reveals certain material change or amendment of SC has been recorded within the last 2 years & noted as follows:
Change of business address : SC moved to the heading business address from Unit C, 10/F, Century House, 3-4 Hanoi Road, Tsimshatsui, Kowloon, HONG KONG in Dec 2005.
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.
Air Anil Ramchandra, director:
- In his 40's & married
- 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: Flat 7, 9/F, Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, HONG KONG.
Property ownership: Current land search indicates the said premises ownership as follows:
- Owner(s) : Patel Viresh Hasmukhlal
- Date of purchase & consideration : 16-10-2000 / HKD758,000
- 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 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
Rathod Rupal Udaysingh, director:
- In his 40's & married
- 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 Air Anil Ramchandra.
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 jewellery products.
Items available include rings, earrings, bracelets, necklaces (which are made of gold, diamond, enamel & other gemstones) & watches.
Principal purchases :
Major types of sourcing : Merchandise & accessories
Local--type of suppliers : Importers
Buying terms : COD & credit of 14 to 30 days
Overseas--supplying countries : PR China, India, Belgium, Israel, SE Asia & Europe
Buying terms : L/C & T/T
Principal market :
Local--type of customers : Nil
Selling terms : Nil
Overseas--buying countries : USA, Europe & Middle East
Selling terms : L/C & T/T
Total number of employees : 3.
Location : Maintaining its office at the heading business address which occupies a gross area of 700 square feet at an industrial building in an industrial district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
SC is not known to have any subsidiary at present.
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.
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.
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 6-8-2005 was nil.
SC is considered small-sized in its line locally. 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/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 |