MIRA
INFORM REPORT
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Report Date : |
26th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SHINE STAR |
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Registered Office : |
C/O Rm 1006, 10/F, World Wide House, 19 Des Voeux Road Central,
Central, Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.07.2005 |
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Com. Reg. No.: |
35845146 |
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Legal Form : |
Partnership |
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Line of Business : |
Engaged in trading of diamond. |
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 : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
SHINE STAR
C/O RM 1006, 10/F,
WORLD WIDE HOUSE, 19 DES VOEUX ROAD CENTRAL, CENTRAL, HONG KONG.
TEL : 852 28620063
FAX : 852 24916310
EXECUTIVE SUMMARY
INCORPORATION DATE :
21-7-2005
REGISTRATION NO. :
35845146
REGISTERED LEGAL FORM : PARTNERSHIP
CHIEF EXECUTIVE : CHAUHAN NILESH MANHARLAL (PARTNER)
STAFF STRENGTH :
3
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
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 :
STABLE
OPERATIONAL TREND : ORDINARY
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 35845146 on 21-7-2005
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
- Chauhan Nilesh Manharlal Blk
B, 9/F, Golden Glory Mansion,
/ E7576196 16
Carnarvon Road, Tsimshatsui,
Kowloon,
HK.
- Botadara Vipulkumar Bachubhai -- ditto
--
/ ZZ5249189
Certain material change or amendment regarding SC within the last 4
years has been traced & noted as follows:
Change of registered address: SC
moved to the heading registered address from Blk B, 9/F, Golden Glory Mansion,
16 Carnarvon Road, Tsimshatsui, Kowloon, HK (your given address) in Aug. 2005.
Total number of employees: 3.
Location : Maintaining
its correspondence office at the heading business address which occupies a
gross area of 2,000 square feet at a commercial building in a commercial
district.
Condition inside the premises during our
visit: Normal.
Office/factory layout : Standard.
The premises is rented.
The premises is mainly occupied as an office by Kap Advisory Services
which is a secretarial firm with sideline business in providing co. secretarial
services to its clients including SC.
SC's operating office is located at the residential address of SC's
partner (at Blk B, 9/F, Golden Glory Mansion, 16 Carnarvon Road, Tsimshatsui,
Kowloon, HK).
- Tel: 852-97570845 (mobile
phone no. of SC's partner)
# Detailed information of the said address is not available.
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.
Chauhan Nilesh Manharlal, partner:
- In his early 40's & married
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
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:
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
Civil
litigations : (X) see below ( ) see per
attached
Date :
9-1-2004
Defendant(s) : Chauhan Nilesh Manharlal
Plaintiff(s) : Commissioner of Inland Revenue
Cause of claims : Tax
Claimed amount : HK$33,090
Botadara Vipulkumar Bachubhai, 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 : 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 diamond.
Items available include ruby, emerald, sapphire, precious &
semi-precious stones.
Principal purchases :
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India (mainly), SE Asia
& Belgium
Buying
terms : T/T
& L/C
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : PR China, USA & Europe
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.
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, Antwerpse
Diamantbank N.V.
During our report
preparation, the principals could not be contacted while the staff members
hesitated to release financial information without the principals' consent.
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.
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