MIRA
INFORM REPORT
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Report Date : |
10.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
GLORY LIGHT CO |
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Registered Office : |
Rm 1005, 10Fl Hart Ave Plaza 5-10 Hart
Ave Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.12.1996 |
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Com. Reg. No.: |
20583553 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Importing
and domestic sales of diamond products.
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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 : |
Moderate
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Payment Behaviour : |
No
Complaints |
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Litigation : |
Clear |
name
GLORY LIGHT CO
address
RM 1005, 10FL HART AVE PLAZA 5-10 HART AVE
TSIMSHATSUI KOWLOON HONG KONG,
TEL: 852-27210021
FAX: 852-23110370
EXECUTIVE SUMMARY
INCORPORATION
DATE : DECEMBER 24, 1996
REGISTRATION
NO. : 20583553
LEGAL
FORM : SOLE
PROPRIETORSHIP
CHIEF
EXECUTIVE : MR. HEMRAJ
CHANDANMAL BAID (CHAIRMAN)
STAFF
STRENGTH : 3
CAPITAL : US$ 1,287
BUSINESS
LINE : IMPORTER
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 : FAIRLY STABLE
OPERATIONAL
TREND : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.79625=
US$1 AS OF 2007-1-9
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
*Company
Registration*
==================
License
number : 20583553
Date
issued : 24 December, 1996
Issuing
authority : Business Registration
Office
*Corporate
& Organization Structure*
===========================
A
small-sized company mainly operated and managed by the owner.
*Reputation*
==========
Reference
checking for the purpose of establishing the firm's reputation within the
respective industry failed to reveal any negative information.
E-mail: glorylight@hotmail.com
For the
past two years there is no record of litigation.
*Major
Shareholders*
================
Under
Hong Kong corporate law, there is no existing "shareholder" in a sole
proprietorship.
Management:
Mr. Hemraj Chandanmal Baid, General Manager
Name Nationality
Job Description
Mr.
Hemraj Chandanmal Baid Indian General Manager -
*Key
Personnel*
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Mr.
Hemraj Chandanmal Baid
Founder : Sole Founder
HKID
No : K4219236
Work
experience : More than 10 years
Responsibilities : Handles the daily operation of the firm
including all financial, sales and legal matters.
Address : Rm C4, 8Fl Hankow Centre 1C
Middle Rd Tsimshatsui Kowloon Hong Kong
*Main
Products & Services*
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Specializes
in importing and domestic sales of diamond products.
Products:
Diamonds
*Payment
Terms*
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Sales
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Local : Cash
30-90 days Credit
Purchases
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Imports
: Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Local
Distribution Network*
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100% of
the annual turnover is attributed to local sales.
*Export
Markets*
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There is
no record of export since the prime focus of the firm's activity is
concentrated on local sales only.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES : 52
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The
rating indicates the payment pattern of SC based upon our Payment Database,
comments from suppliers of SC, information from banks (if available), as well
as industrial sources.
Dealings on open terms may be possible for
MODERATE amounts depending on individual judgement experience.
As a
sole proprietorship there is no legal requirement according to local corporate
law for public disclosure of detailed financials.
SC is
considered small-sized in its line with an operating history of 11 years.
Credit dealings with SC up to moderate amount can be considered.
Attached:
trade references
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Importing 3961
Jewelry of materials other
than solid gold, platinum & silver
Importing 5094
Jewelry/Watches/Precious
Mtl
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Importing 7102
Diamonds, worked or not,
not mounted or set
Importing 7102100000
Diamonds, unsorted
Importing 7116201000
Jewelry of precious or semiprecious
stones
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Importing
from Asia
Importing
from Belgium
Importing
from Europe
Importing
from India
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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