MIRA
INFORM REPORT
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Report Date : |
10.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
ASPIRE DESIGNS LTD. |
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Registered Office : |
2/F, Tung Wui Commercial Bldg., 27 Prat
Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20-7-2001 |
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Com. Reg. No.: |
764229 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading
of gems & jewellery 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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Status : |
Small
Company |
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Payment Behaviour : |
No
Complaints |
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Litigation : |
Clear |
name
ASPIRE DESIGNS LTD.
address
2/F, TUNG WUI COMMERCIAL BLDG., 27 PRAT AVENUE, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL: 852 28151218 / 231715561
FAX: 852 28154505
EXECUTIVE SUMMARY
INCORPORATION DATE : 20-7-2001
REGISTRATION NO. :
764229
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE :
SHETH APSARA TANSUKH (MANAGING
DIRECTOR)
STAFF STRENGTH :
7
AUTHORIZED CAPITAL : 0.5M = 0.5M SHARES @ HKD1.-
PAID-UP CAPITAL : HKD 495,000
BUSINESS LINE :
TRADING OF GEMS & JEWELLERY PRODUCTS
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 7.79717 = USD1 AS OF 2007-01-9
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 is a
private limited company registered under incorporation file no. 764229 on
20-7-2001.
SC's
shareholders & directors are shown to be as follows:
Shareholders (as at 20-7-2006) Number
of shares held
Shah Gunvant Hemchand 165,000
Shah Dhaval Gunvant 165,000
Sheth Apsara Tansukh 165,000
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495,000
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Directors
(as at 20-7-2006)
Shah
Dhaval Gunvant / R037855(A)
Sheth
Apsara Tansukh / P926445(4)
Shah
Gunvant Hemchand / Z1109097
The
above registration information is based on SC's annual return filed at
Companies Registry within the last 2 years.
Our
current search reveals certain material change or amendment of SC has been
recorded within the last 2 years & noted as follows:
Partial
change in SC's directorship as follows:
Name(s) of resigned director(s) Resignation
date
Nil Nil
Name(s) of newly appointed director(s) Appointment
date
Shah Gunvant Hemchand 2-12-2003
Shares
allotments on 2-12-2003:
Allottee(s) No.
of share(s)
Shah Gunvant Hemchand 165,000
Shah Dhaval Gunvant 164,999
Sheth Apsara Tansukh 164,999
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 : (X)
see below ( ) see attached sheet
Date :
23-3-2006
Defendant(s) : SC
Plaintiff(s) : Nam Mui Kin Kee Co.Ltd.
Cause of claim : Landlord
& Tenants (Possession)
Claimed amount : ANS
Mortgage/charge record(s) : (X)
see below ( ) see per attached
Creation date :
14-11-2006
Charger(s) : SC
Chargee(s) :
Standard Chartered Bank (HK) Ltd.
Secured amount : ANS
Charge particulars :
Charge Over Deposits (HKD1.5M)
Creation date :
22-7-2005
Charger(s) : SC
Chargee(s) :
Industrial & Commercial Bank of China (Asia) Ltd.
Secured amount : ANS
Charge particulars :
Mortgage (same as heading business address)
Mortgage
Index:
Year(s) in
which mortgage registration(s) are filed: 2001, 2005 & 2006
Year(s)
in which mortgage satisfaction record(s) are filed: 2005
Sheth
Apsara Tansukh, director:
- She is
by Indian nationality
Currently
active in SC's day-to-day operations & is responsible for its management.
Registered
residential address: 3/F, Peace Court, 64 Conduit Road, Mid-Levels West, Hong
Kong.
Property
ownership: Current land search indicates the said premises ownership as
follows:
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Owner(s) : Cheung Woon Yiu
- Date
of purchase & consideration : 5-6-2006 / HKD9.5M
- Date
of mortgage & secured amount : 5-6-2006 / ANS
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Mortgagee : Standard Chartered Bank (HK) 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:
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 :
28-4-2001
Defendant(s) : Sheth Apsara Tansukh T/A Aspire
Gems & Jewellery
Plaintiff(s) : Goldheart Jewelry Ltd.
Cause of claims : Dishonoured
cheque
Claimed amount : SGD24,437*
SGD =
Singapore dollar
SGD1 =
HK$5.06
Shah
Dhaval Gunvant, director:
- He is
by Indian nationality
Currently
active in SC's day-to-day operations & is responsible for its management.
Registered
residential address: Same as Sheth.
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 : 2 Obtained scores : 65 (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 & jewellery products.
Items
available include diamond jewellery, precious & semi-precious stones, ruby,
sapphire & other related products.
Principal
purchases :
Major types of
sourcing : Merchandise
Local--type of
suppliers : Importers &
distributors
Buying terms : Credit of 60 days
Overseas--supplying
countries : India, Middle East & SE
Asia
Buying terms : L/C, T/T &
credit of 60 days
Principal
market :
Local--type of
customers : Manufacturers,
wholesalers & retailers
Selling terms : COD & credit of 60
days
Overseas--buying
countries : Russia & USA
Selling terms : Special agreed terms
Total number of employees : 7.
Location : Maintaining
its office at the heading business address which occupies a gross area of 2,000
square feet at a commercial 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) : SC
- Date
of purchase & consideration : 9-11-2001 / HKD1.47M
- Date
of mortgage & secured amount : 22-7-2005 / ANS
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Mortgagee : Industrial & commercial Bank of China (Asia) Ltd.
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:
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Industrial & Commercial Bank of China (Asia) Ltd.
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Standard Chartered Bank (HK) Ltd.
Upon a current contact, Chan
Jenny, 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.
As per
current co. search, total amount of indebtedness of SC in respect of all
mortgages and charges which are required to be registered with Companies
Registry as at 20-7-2006 was HKD700,000.
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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