MIRA
INFORM REPORT
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Report Date : |
16.07.2007 |
IDENTIFICATION DETAILS
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Name : |
TOPNET INT'L LTD |
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Registered Office : |
Unit 1611, 16FL Trendy Centre |
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Country : |
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Date of Incorporation : |
April 7, 2000 |
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Com. Reg. No.: |
711831 |
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Legal Form : |
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Line of Business : |
Trading wide range of yarn, fabrics, trimmings, dye chemicals and
accessories. |
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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Maximum Credit Limit : |
Up To US$ 30,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
TOPNET INT'L LTD
UNIT 1611, 16FL TRENDY CENTRE
LAI CHI KOK
TEL : 852 22426424
FAX : 852 23335939
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 7, 2000
REGISTRATION NO. :
711831
CHIEF EXECUTIVE :
MR. NARESH KERAJ MAHITHIA (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 127,877
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.8205 = US$1 AS OF
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*
===================
License number : 711831
Date issued : 7 April,
2000
Issuing authority : Companies
Registry
Legal form : Private
Limited Company
Type of license : Corporate
License number : 31114818-000
Issuing authority : Business
Registration Office - Inland Revenue Department
Type of license :
Business
*Capital Details*
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Authorized capital : HKD 1,000,000.00 divided into 1,000,000 ordinary
shares at HKD 1.00/-each, fully paid
*Office & Facilities*
================
Other e-mail : sales@topnetintl.com
(Sales Team Department)
shipping@topnetintl.com (Shipping and
Receiving Department)
purchase@topnetintl.com (Purchasing Department)
webmaster@topnetintl.com (Information Systems Team Lead Department)
pat_topnet@yahoo.com.uk
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Website : www.topnetintl.com The design is professional and the content is
well organized. At present it is in English version.
E-mail : customerservice@topnetintl.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 : 1,000,000
Shareholders' Name No. Ordinary of Shares Amount of Shares (HKD) %of Shares
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---------------------------------- ----------------
Pooja Sawhney
333,334 333,334.00 33.34
Naresh Kheraj Majithia
333,333
333,333.00
33.33
Rashmi Naresh Majithia
333,333
333,333.00
33.33
*Directors' Details*
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Rashmi Naresh Majithia
Address : Flat H 9Fl
Block 8 South Horizon
National ID no. : P794646(9)
Pooja Sawhney
Address : 27Fl
Apartment B Block 3 Seaview Cressent
National ID no. : P794282(A)
*Company Secretary*
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LODSTAR SECRETARIES LTD
Address : 13Fl Wah Kit
Commercial Centre
*COMPANY MANAGEMENT*
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Name Nationality
Job Description
Mr. Naresh Kheraj Majithia
*Key Personnel*
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Naresh Kheraj Majithia
National ID no : P469798(0)
Address : Flat H 9Fl
Block 8 South Horizon Hong Kong
Responsibility : Handles the
overall management of the company.
*Main Products & Services*
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Specializes in trading wide range of yarn, fabrics, trimmings, dye
chemicals and accessories.
Products also includes the following:
- 100% cotton yarns from Indian Cotton (Ring Spun) for knitting/weaving
- 100% cotton yarns from Indian Cotton (Open End) for knitting/weaving
- 100% supima cotton
- 100% ring spun polyster yarns for knitting and weaving
- Polyster cotton yarns (TC) for knitting and weaving
- 100% spun rayon for knitting and weaving
- Fancy yarns for sweaters/knitting
- Knitted fabrics in raw white and dyed
Products : 100% cotton yarn
100% ring spun
polyester yarns
100% spun rayon
yarns
100% supima
cotton yarns
AMH dyes
*Payment Terms*
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Sales
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Local : Cash on Credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Local : Cash on 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*
=================================
Maintains the following:
- A factory in
- Offices in
PAYMENT RATING : 3 OBTAINED SCORES : 58
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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 SMALL amounts depending on individual judgement
experience.
*Bank Details*
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Bank name : HONG KONG
& SHANGHAI BANKING CORP LTD, THE
Branch : LG-01-3
Lower Ground Western Hong Kong
Swift code : HSBCHKHH
As a private limited company 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 stable development trend.
It is considered a credit line up to US$ 30,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2200 Textile
Mill Products
Trading 2211 Broad
woven fabrics, cotton
Trading 2231 Broad
woven fabrics, wool
Trading 2241 Narrow
woven fabrics
Trading 2257 Circular
knit fabrics
Trading 2258 Warp
knit fabrics
Trading 2261 Finish
Cotton Fabrics
Trading 2281 Yarn,
spun, of cotton, man-made fibers, and silk
Trading 2284 Thread
and handwork yarns
Trading 2299 Textile
goods
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2833290000 Other
sulfates
Trading 2847 Hydrogen
peroxide, whether/not solidified w/ urea
Trading 3204130000 Basic
dyes and preparations based thereon
Trading 3204140000 Direct
dyes & preparations based thereon
Trading 3212 Pigments
nonaq liquid etc for paint; st foil; dye etc
Trading 3910 Silicones,
in primary forms
Trading 4202 Travel
goods, handbags, wallets, jewelry cases etc
Trading 5200 Cotton,
inc. yarns & woven fabrics thereof
Trading 5205 Cotton
yarn (not sewing thread) nu 85% cot no retail
Trading 5205112000 Cotton
yarn (other than sewing thread), greater than or equal to 85 percent
cotton,
less than or equal to 14 nm, not for retail sale, not unbleached
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Trader 100% cotton
yarn
Trader 100% supima
cotton yarns
Trader 100% ring spun
polyester yarns
Trader PC (polyester
cotton) yarns
Trader 100% spun
rayon yarns
Trader Fancy
yarns
Trader Knitted
fabrics
Trader Knitted jersey
fabrics
Trader Knitted
fabrics, jacquard
Trader Knitted
interlock fabrics
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
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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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%)