MIRA
INFORM REPORT
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Report Date : |
10.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
MEGA STAR |
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Registered Office : |
Rm A5, 7/F, Hankow Centre, 47 Peking
Rd., Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
26-2-2001 |
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Com. Reg. No.: |
31602180 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in trading of gems & diamond. |
RATING & COMMENTS
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MIRA’s Rating : |
No
Rating |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined
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Payment Behaviour : |
-- |
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Litigation : |
-- |
Name & aDDRESS
MEGA
STAR
RM A5, 7/F, HANKOW CENTRE,
47
PEKING RD., TSIMSHATSUI, KOWLOON,HONG KONG.
TEL: 852 23665075
FAX: 852 23662227
EXECUTIVE SUMMARY
INCORPORATION DATE : 26-2-2001
REGISTRATION NO. : 31602180
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE :
MCHAMED ASMATHULLA KHAN SHAHUL HAMEED (SOLE
PROPRIETOR)
STAFF STRENGTH :
3
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 GEMS & 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 : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78639 = USD1 AS OF 2006-09-26
SC was established under Business Registration
number 31602180 on 26-2-2001 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
- Mchamed Asmathulla Khan Shahul Same as
heading business address
Hameed
No material change or amendment regarding SC has
been traced & noted since its inception.
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.
Mchamed Asmathulla Khan Shahul Hameed, sole
proprietor:
- In his mid 40's & married
- He is by Indian nationality
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Same as heading
business address.
Property ownership: Current land search indicates
the said premises ownership as follows:
- Owner(s) : Shaik Kamal Shahul Hameed & Jamal
Mohamed Hameed Musthafa
- Date of purchase & consideration : 26-11-1997
/ HKD4,915,000
- 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
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 gems & diamond.
Items available include including ruby, sapphire,
tiger, rough colour stones & cut diamond.
Principal purchases :
Major types of sourcing :
Diamond & gemstones
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
India (mainly) & other Asian countries
Buying terms :
L/C & T/T
Principal market :
Local--type of customers : Nil
Selling terms :
Nil
Overseas--buying countries : PR
China & SE Asia (mainly Thailand)
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 a residential building
in a commercial & residential 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.
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.
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.
-- 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 |
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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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