MIRA
INFORM REPORT
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Report Date : |
26.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
AVS EXPORTS LTD |
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Registered Office : |
Rm A 5FL Prat Commercial Bldg 17-19 Prat Ave Tsimshatsui
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.06.2000 |
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Com. Reg. No.: |
719248 |
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Legal Form : |
Private |
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Line of Business : |
Trading of jewelry & watches 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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Maximum Credit Limit : |
Up To USD 5,000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
AVS EXPORTS LTD
RM A 5FL PRAT COMMERCIAL BLDG 17-19 PRAT AVE
TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-23116779
FAX: 852-23127003
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 5, 2000
REGISTRATION NO. :
719248
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SACHIN SHASHIKANT SHAH (MANAGER)
STAFF STRENGTH :
2
CAPITAL :
US$ 1,287
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 5,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
HKD 7.81388 = US$1 AS OF 2007-2-13
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
*Company Registration*
===================
(1)
License number : 719248
Date issued : 5 June,
2000
Issuing authority : Companies
Registry
Legal form : Private
Company
Type of license : Corporate
License
(2)
License number : 30983509
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
License
*Office & Facilities*
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Other tel no : 23116697
*Capital Details*
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Authorized capital: HKD 10,000.00 divided into 10,000 ordinary shares at
HKD 1.00/-each, fully paid
*Corporate & Organization Structure*
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A family-owned and operated business.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
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Only Mr. Sachin Shashikant Shah can sign on behalf of the company with
seal affixed.
E-mail: avsexpltd@netvigator.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders
: 2
Total number of ordinary shares : 10,000
Shareholders' Name No.
of Ordinary Shares Amount of
Shares (HKD) % of Shares
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----------------------------------
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Sachin Shashikant Shah
5,000 5,000.00 50.00
Vrunali Sachin Shah
5,000 5,000.00 50.00
*Director's Details*
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Vrunali Sachin Shah
HKID no. : P828873(2)
Address : Flat B 3Fl, 83-85
Chatham Rd, Tsimshatsui South, Kowloon Hong Kong
*Corporate Secretary*
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EXCEL SECRETARIES LTD
C. R. no. : 541950
Address : Rm 1003, 10Fl
Worlwide House 19 Des Voeux Rd Central Hong Kong
Email address : info@excelcorporate.com.hk
*Key Personnel*
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Sachin Shashikant Shah
Identification :
P352998(7)
Address :
Flat B 3Fl, 83-85 Chatham Rd, Tsimshatsui South, Kowloon Hong Kong
Responsibilities :
Handles the daily operation of the firm including all financials and legal
matters.
*Main Products & Services*
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Specializes in trading of jewelry & watches products.
Products: Jewelry
Watches
*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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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
SC is not known to have any subsidiary at
present.
PAYMENT
RATING :4 OBTAINED SCORES :
49
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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 private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
Over the past 7 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 5,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry,
of precious metal
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7116 Articles
of natural or cut pearls, prec/semprc stones
Trading 9102 Watches,
wrist, pocket etc, case not prec nor clad
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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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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions