MIRA
INFORM REPORT
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Report Date : |
1st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SUNNY
GEMS |
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Registered Office : |
Flat C, 6/F, Kimberley Mansion,
15 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong. |
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Country : |
Hong
Kong |
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Date of Incorporation : |
05.03.1992 |
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Com. Reg. No.: |
15337806 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in trading of gemstones & jade. |
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 : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
SUNNY GEMS
FLAT C, 6/F, KIMBERLEY MANSION,
15 AUSTIN AVENUE, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23693227
FAX : 852 23122691
EXECUTIVE SUMMARY
INCORPORATION DATE :
5-3-1992
REGISTRATION NO. :
15337806
REGISTERED LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE :
VIJAY RADHA GOVIND (SOLE PROPRIETOR)
STAFF STRENGTH :
2
AUTHORIZED CAPITAL
: [IN HONG KONG, 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 GEMSTONES & JADE
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 7.77750 = USD1 AS OF 2006-12-30
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
Note:
The correct address of SC should be the above stated one, instead of the given
address – 5/D, South Sea Mansion, TST Kowlong, Hong Kong.
SC was
established under Business Registration number 15337806 on 5-3-1992 with
present status as sole proprietorship.
Currently
obtained BR copy indicate the particulars of SC's principal(s) are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered address
- Vijay Radha Govind / H983452 Rm
A, 14/F, Diamond Court,
10-12
Hillwood Road,
Kowloon,
Hong Kong.
Certain
material change or amendment regarding SC within the last 4 years has been
traced & noted as follows:
Change
of business address : SC moved to the heading business address from Flat C,
9/F, Kam Ma Bldg., 16 Cameron Road, Tsimshatsui, Kowloon, Hong Kong on
24-8-2006.
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 Hong Kong, unlimited companies are not required to file its charge
particulars for public inspection.
Vijay Radha
Govind, sole proprietor:
- He is
by Indian nationality
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Embarked upon his career to present field as a junior salesman in his 20's
Registered
residential address: As stated above.
Property
ownership: Current land search indicates the said premises ownership as
follows:
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Owner(s) : Tou Kok
- Date
of purchase & consideration : 4-4-2001 / HKD1.1M
- Date
of mortgage & secured amount : NA
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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
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 gemstones & jade.
Items
available include ruby, emerald & other semi-precious stones.
Principal
purchases :
Major types of
sourcing : Merchandise
Local--type of
suppliers : Nil
Buying terms : Nil
Overseas--supplying
countries : India
Buying terms : L/C & T/T
Principal
market :
Local--type of
customers : Nil
Selling terms : Nil
Overseas--buying
countries : Japan, S. Korea, Taiwan, SE
Asia, USA & Europe
Selling terms : L/C & T/T
Total number of employees : 2.
Location : Maintaining
its office at the heading business address which occupies a gross area of 700
square feet at a residential building in a commercial & shopping 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:
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Owner(s) : Vijay Hari Prasad & Vijay Radha Govind(SC's sole proprietor)
- Date
of purchase & consideration : 16-11-2005 / HKD3.55M
- Date
of mortgage & secured amount : NA
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Mortgagee : NA
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 : Owing
to the nature of its operation, SC is not an active seeker of local commercial
credit. Its expenses in the form of accruals and servicing are reportedly met
in a prompt manner.
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.
SC is
considered small-sized in its line locally with acceptable base to meet its
normal dealings. Credit dealings with
SC in moderate amount can 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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