MIRA
INFORM REPORT
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Report Date : |
16.07.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
14Floor, Hang Lung House 184-192 Queen's Rd Central, |
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Country : |
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Date of Incorporation : |
01.02.1977 |
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Com. Reg. No.: |
51429 |
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Legal Form : |
Private Liability Limited |
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Line of Business : |
Specializes in trading wide range clothing as well as electric and
electronic products |
RATING & COMMENTS
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MIRA’s 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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Maximum Credit Limit : |
USD25,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
14FL HANG LUNG HOUSE 184-192 QUEEN'S RD CENTRAL, HONG KONG
TEL:852-25259617
FAX:852-25260365
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 1, 1977
REGISTRATION NO. :
51429
LEGAL FORM :
PRIVATE LIABILITY LIMITED
CHIEF EXECUTIVE :
MR. RAMESH LALCHAND DOWLANI (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 767,263
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81780 = US$1 AS OF
*Company Registration*
===================
License number : 51429
Date issued : 1 February,
1977
Issuing authority : Companies
Registry
Type of license : Corporate
license
License number : 05067542
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
license
*Capital Details*
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Authorized capital
: HKD 6,000,000.00
Initial paid-up capital : HKD 3,000,000.00
Issued & paid-up capital increase :
HKD 5,000,000.00 divided into 50,000 ordinary shares of HKD 100.00/-
each
*Office & Facilities*
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Other Contact Details
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Tel no : 25259513
Fax no : 25260365
E-mail :
redsea@netvigator.com
redsea@vip.163com
*Corporate & Organization Structure*
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A family-owned and managed business.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
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Only Mr. Ramesh Lalchand Dowlani can sign on behalf of the company with
seal affixed.
www.redseatrading.com The
design is professional and the content is well organized. At present it is in
English version.
E-mail: redsea@redseatrading.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 3
Total number of ordinary shares :
50,000
Shareholders' Name No. of
Ordinary Shares Amount of Shares
(HKD) % of Shares
Ramesh Lalchand Dowlani 20,000 2,000,000.00 40.00
Sonia Ramesh Dowlani
15,000
1,500,000.00
30.00
Vijay Kumar Dowlani
15,000
1,500,000.00
30.00
*Director's Details*
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Shareholder's Details
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Mr. Vijay Kumar Dowlani
Address : Flat A 12Fl Elegant Garden
*Company Secretary*
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Ms. Sonia Ramesh Dowlani
HKID no : XD471898(A)
Address : Flat A 12Fl Elegant Garden
Responsibility :
Handles the overall management of the company.
Management: Mr. Danny R. Hira, General Manager
Ms. Sonia
Ramesh Dowlani, Managing Director
Name Nationality
Job Description
Mr. Danny R. Hira
Ms. Sonia Ramesh Dowlani
*Key Personnel*
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Mr. Ramesh Lalchand Dowlani
Founder : Co-Founder
HKID no : XD004728(2)
Address : Flat A 12Fl Elegant Garden
Email : ramesh@redseatrading.com
Responsibilities :
Handles the overall management of the company
Ms. Sonia Ramesh Dowlani
HKID no : XD471898(A)
Address : Flat A 12Fl Elegant Garden
Responsibility : Handles the overall management of the
company.
Mr. Danny R. Hira
Area of responsibility :
*Main Products & Services*
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Specializes in trading wide range clothing as well as electric and
electronic products.
Products:
Accessories
Athletic apparel
Bags
Children's garments
Children's wear
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name :
Address :
2Fl Huarun Bldg East of
Country :
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Garments & Accessories
Company Name :
Address : Rm
E 18Fl Hengfu Bldg - Block
Country :
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Garments & Accessories
Company Name : SV
INDUSTRIES
Address : Rm
E 18Fl Hengfu Bldg - Block 2,
Country :
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Electronic Products & Components
*Strategic Partners & Alliances*
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Maintains trading partners in the following locations:
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PAYMENT RATING :3 OBTAINED SCORES : 57
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Rating Key |
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 private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank name : DBS BANK (
Account no : 572435725
Swift code : DHBKHKHH
SC is considered an old-established business with stable development
trend. It is considered a credit line up to USD25,000 appears to be within SC’s
capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2300
Apparel/Other Textile
Products
Trading 2329
Men's and boys' clothing,
Trading 2389
Apparel and accessories,
nspf
Trading 2674
Bags; uncoated paper and
multiwall
Trading 3149
Footwear, nspf
Trading 3600
Electronic & Electric
Equip.
Trading 3949
Sporting and athletic
goods, and parts, nspf
Trading 5065
Electronic Parts/Equip,
NEC
Trading 5091
Sporting/Rec Goods &
Supplies
Trading 5136
Clothing & Furnishing,
male
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4203100090
Articles of apparel
Trading 6200
Articles of apparel &
clothing accessories-not knitted or crocheted
Trading 6203
Men's or boys' suits,
ensembles etc, not knit etc
Trading 6203292060
Men's or boys' ensembles, not
knitted, of other textile materials, of artificial fibers,
other
apparel
Trading 6210
Garments, of felt etc, or
fabric impregnated etc
Trading 6211
Track suits, ski-suits
& swimwear, not knit etc
Trading 6211330005
Men's and boys' coveralls, jumpsuits
and similar apparel of man-made fibers,
insulated
for cold weather protection; not knitted or crocheted
Trading 6211430005
Women's and girls' coveralls,
jumpsuits, and similar apparel insulated for cold
weather
protection; of man-made fibers, not knitted or crocheted
Trading 6217
Made-up clothing access
nesoi, garment etc parts
Trading 6309
Worn clothing and other
worn textile articles
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to UAE
Exporting to
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)