MIRA
INFORM REPORT
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Report Date : |
26th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
KUNMING TRADING CO. |
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Registered Office : |
Flat B, 12/F, Alpha House, 27-33 Nathan Road, Tsimshatsui, Kowloon,
Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.11.1993 |
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Com. Reg. No.: |
17552882 |
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Legal Form : |
Partnership |
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Line of Business : |
Engaged in trading of diamond & gemstones. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
KUNMING
TRADING CO.
FLAT B, 12/F,
ALPHA HOUSE, 27-33 NATHAN ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23685997
FAX : 852 27239408
EXECUTIVE SUMMARY
INCORPORATION DATE :
17-11-1993
REGISTRATION NO. :
17552882
REGISTERED LEGAL FORM : PARTNERSHIP
CHIEF EXECUTIVE : MAHESHWARI DEEPA (PARTNER)
STAFF STRENGTH :
4.
AUTHORIZED CAPITAL :
[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 DIAMOND & GEMSTONES
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : MODERATE
AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81333 = USD1 AS OF 2007-2-14
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 17552882 on
17-11-1993 with present status as partnership.
Currently obtained BR copy indicates the particulars of SC's
principal(s) are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered
address
- Maheshwari Ajay / K596205(6) Rm A,
10/F, Kok Pah Mansion,
58-60
Cameron Road,
Tsimshatsui,
Kowloon, HK.
- Maheshwari Deepa / P095590A Rm B3,
14/F, Hankow Centre,
47
Peking Road & 4A Ashley Road,
Tsimshatsui,
Kowloon, HK.
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Maheshwari Deepa 2-5-2003
Name(s) of retired partner(s) Leaving
date
Jakhotia Damodar Prasad R 2-5-2003
Total number of employees : 4.
Location : Maintaining
its office at the heading business address which occupies a gross area of 500
square feet at a residential building in a residential district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Property ownership : Current land search indicates the ownership details
of the captioned premises as follows:
- Owner(s) : Maheshwari Ajay
(SC's partner)
- Date of purchase & consideration : 31-3-2003 / HK$0.75M
- Date of mortgage & secured amount : 31-3-2003 / ANS
- Mortgagee : Wing Lung Bank Ltd.
SC also maintains branch offices in Yamanashi of Japan & Mumbai of
India.
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): In HK, unlimited companies are not
required to file its charge particulars for public inspection.
Maheshwari Deepa, partner:
- In her mid 40's & married.
- She is by Indian nationality.
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: As stated above.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Maheshwari Ajay & Maheshwari Deepa
- Date of purchase & consideration : 15-11-1999 / HK$3.5M
- Date of mortgage & secured amount : 15-11-1999 / ANS
- Mortgagee : Hang Seng Bank Ltd.
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
Maheshwari Ajay, partner:
- He is by Indian nationality
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 : 60 (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 diamond & gemstones.
Items available include diamond, precious & semi-precious & coloured
gemstones (including rough color stones, lapies, tigers, sapphires, ruby,
ambers, etc.).
Principal purchases :
Major
types of sourcing : Diamonds
& gemstones
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : Pakistan, India (mainly),
Thailand, Brazil, Sri Lanka, South Africa & SE Asia
Buying
terms : T/T
& L/C
Principal market :
Local--type
of customers : Retailers &
exporters
Selling
terms : COD &
credit of 30-45 days
Overseas--buying
countries : Europe, Japan, North &
South America, PR China & SE Asia
Selling
terms : T/T &
L/C
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: Hang Seng Bank Ltd.
Upon a current
contact, Ms. Lung, SC's administrator, declined forwarding any financial
information on the ground that it is the company's policy not releasing any
data to a third party without the benefit of knowing the identity of the
inquiring party.
SC is considered small-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/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