MIRA
INFORM REPORT
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Report Date : |
25th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MAHAVIR
DIAM |
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Registered Office : |
Flat D, 3/F, South Sea Mansion, 81
Chatham Road, Tsimshatsui, Kowloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.04.2005 |
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Com. Reg. No.: |
35549550 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer
and Supplier of Diamond |
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 : |
Usually
Correct |
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Litigation : |
Clear |
Company NAme
MAHAVIR DIAM
FLAT D, 3/F, SOUTH SEA MANSION,
81 CHATHAM ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23699950 / 23699951
FAX : 852 23699995
EXECUTIVE SUMMARY
INCORPORATION DATE :
22-4-2005
REGISTRATION NO. :
35549550
REGISTERED LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE : DOSHI CHINTAN SHASHIKANT
(SOLE PROPRIETOR)
STAFF STRENGTH :
1
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 : IMPORT &
SUPPLY OF DIAMOND
TURNOVER :
HKD50M (8 MONTHS ENDED 31-12-2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
SMALL AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78611 = USD1 AS OF 2006-11-15
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
The complete address of SC is the heading one
instead of the address given by you.
SC was established under Business Registration
number 35549550 on 22-4-2005 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
- Doshi Chintan Shashikant / E7575726 Flat C, 5/F,
Lising Court,
34-36 Granville Road,
Tsimshatsui, 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, 5/F, Lising Court, 34-36 Granville Road,
Tsimshatsui, Kowloon, Hong Kong.
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.
Doshi Chintan Shashikant, sole proprietor:
- He is by Indian nationality
- He has 3 years of experience in present field
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: As stated above.
Property ownership: Current land search indicates
the said premises ownership as follows:
- Owner(s) : Kwan Chak Ming & Chan Sau Hung
- Date of purchase & consideration : 20-8-2002 / HKD0.8M
- Date of mortgage & secured amount : 20-8-2002 / ANS
- Mortgagee :
The Bank of East Asia 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:
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 : 55 (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 import & supply of diamond.
Principal purchases :
Major types of sourcing :
Merchandise (diamond)
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
India
Buying terms :
L/C & T/T
Principal market :
Local--type of customers :
Manufacturers
Selling terms :
COD
Overseas--buying countries : Nil
Selling terms :
Nil
Total number of
employees : 1.
Location : Maintaining its office at the heading business
address which occupies a gross area of 500 square feet at a residential
building in a residential 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:
- Owner(s) : Doshi Chintan Shashikant (SC's sole proprietor)
- Date of purchase & consideration : 7-9-2005 /
HKD1.8M
- Date of mortgage & secured amount : NA
- 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.
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.
Upon a
current contact, Doshi Chintan Shashikant, SC's sole proprietor, refused
releasing detailed financial data but advised that SC's turnover for 8 months
ended 31-12-2005 was HKD50M.
SC is considered small-sized in its line locally
with a short history. Credit dealings with SC in small amount can be considered
at present.
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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