MIRA
INFORM REPORT
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Report Date : |
18.01.2007 |
IDENTIFICATION DETAILS
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Name : |
GLOSTAR LTD |
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Registered Office : |
Rm 406A, 4FL Hankow Centre |
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Country : |
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Date of Incorporation : |
AUGUST
14, 1980 |
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Com. Reg. No.: |
0085376 |
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Legal Form : |
Private |
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Line of Business : |
Trading
diamonds and jewelry products. |
RATING & COMMENTS
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MIRAs 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 : |
Usually
correct |
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Litigation : |
Clear |
name & address
GLOSTAR LTD
RM 406A, 4FL HANKOW CENTRE
TSIMSHATSUI
TEL: 852-23692879
FAX: 852-23111109
EXECUTIVE SUMMARY
INCORPORATION
DATE : AUGUST 14, 1980
REGISTRATION
NO. : 0085376
LEGAL
FORM : PRIVATE
CHIEF
EXECUTIVE : MR. SHANKAR
MANJANI (CHAIRMAN)
STAFF
STRENGTH : 4
CAPITAL : US$ 128,700
BUSINESS
LINE : TRADER
TURNOVER : N/A (AS OF DEC.
31, 2005)
EQUITIES : N/A (AS OF
DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM.
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.80648 =
US$1 AS OF 2007-1-18
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD
*Company
Registration*
===================
(1)
License
number : 0085376
Date
issued : 14 August, 1980
Issuing
authority : Companies Registry
Legal
form : Limited Liability
Company
Type of
license : Corporate
(2)
License
number : 06773716
Issuing
authority : Business Registration
Office - Inland Revenue Department
Type of
license : Business
*Trading
Name*
=============
Although
the company is legally registered by the name listed above, it is commonly
known as GLOBAL TRADERS under which it operates locally.
*Capital
Details*
============
Authorized
capital : HKD 1,000,000.00 divided into 1,000,000 shares of HKD 1.00/-each,
fully paid
*Corporate
& Organization Structure*
=============================
A
small-sized company, mainly operated and managed by an experienced team of
professionals.
*Reputation*
==========
Reference
checking for the purpose of establishing the firm's reputation within the
respective industry failed to reveal any negative information
www.glostar.com.hk SCs website is unable to be landed at present for
the technical reason.
E-mail: jeevan@glostar.com.hk
For the
past two years there is no record of litigation.
*Major
Shareholders*
=================
Total
number of shareholders : 2
Total
number of shares : 1,000,000
Shareholders'
Name No of Shares Amount of Shares (HKD) % of Shares
-------------------------- ----------------- ---------------------------------- -----------------
Shankar
Manjani
650,000
650,000.00
65.00
Sawatri
Shankar Manjani 350,000 350,000.00 35.00
*Directors'
Details*
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(1)
Kiran
Shankar Manjani
HKID
no : Z000999(8)
Address : 8Fl, 37 Mody Rd,
Tsimshatsui,
(2)
Jeevan
Manjani
HKID
no : K441520(5)
Email
address :
jeevan@glostar.com.hk
Address : 8Fl, 37 Mody Rd,
Tsimshatsui,
Shareholder's
Details
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Sawatri
Shankar Manjani
Address : 8Fl, 37 Mody Rd, Tsimshatsui,
Status : Deceased
*Company
Secretary*
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Shankar
Manjani
HKID
no : XE343700(9)
Address : 8Fl, 37 Mody Rd,
Tsimshatsui,
Responsibilities : Handles the overall management of
the company
Management:
Mr. Kumar Shankar Manjani, Assist.
Director
Mr.
Shankar Manjani, Managing Director
Name Nationality
Job Description
Mr.
Kumar Shankar Manjani Indian Assist. Director
Mr.
Shankar Manjani Indian Managing Director
*Key
Personnel*
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(1)
Shankar
Manjani
HKID
no : XE343700(9)
Address : 8Fl, 37 Mody Rd,
Tsimshatsui,
Responsibilities
: Handles the overall management
of the company
(2)
Kumar
Shankar Manjani
HKID
no : Z000998(A)
Address : 8Fl, 37 Mody Rd,
Tsimshatsui,
Responsibilities : Alternate to Jeevan Manjani
*Main
Products & Services*
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Specializes
in trading diamonds and jewelry products.
Products:
Jewelry
Diamond
Precious stones
Jewelry
*Payment
Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Local
Distribution Network*
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50% of
the annual turnover is attributed to local sales.
*Export
Markets*
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50% of
the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES : 51
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Implication |
Implications |
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1 |
Scores 85100 |
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
private limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
Over the
past 26 years, SC has made a stable growth with satisfactory profit. Credit
dealings with SC in 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
Trading 3911
Jewelry, of precious metal
Trading 3961
Jewelry of materials other
than solid gold, platinum & silver
Trading 5094
Jewelry/Watches/Precious
Mtl
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Importing 7116
Articles of natural or cut
pearls, prec/semprc stones
Trading 7102
Diamonds, worked or not,
not mounted or set
Trading 7102100000
Diamonds, unsorted
Trading 7113
Articles of jewelry &
parts, of precious metal or clad
Trading 7116
Articles of natural or cut
pearls, prec/semprc stones
Trading 7116201000
Jewelry of precious or semiprecious
stones
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting
to
Exporting
to
Exporting
to
Exporting
to
Importing
from
Importing
from
Importing
from
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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