MIRA
INFORM REPORT
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Report Date : |
18.07.2007 |
IDENTIFICATION DETAILS
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Name : |
L. D. CREATIONS |
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Registered Office : |
Flat F, 14/F, |
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Country : |
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Date of Incorporation : |
25-3-2006 |
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Com. Reg. No.: |
36669282 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading of diamond. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New & Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
L. D. CREATIONS
FLAT F, 14/F,
TSIMSHATSUI,
TEL : 852 60344237
FAX : 852 23114498
EXECUTIVE SUMMARY
INCORPORATION DATE :
25-3-2006
REGISTRATION NO. :
36669282
REGISTERED LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE : POPAT NEELANG ARVIND (PARTNER)
STAFF STRENGTH :
1
AUTHORIZED CAPITAL : [IN HK, UNLIMITED COS. ARE NOT
REQUIRED TO FILE ITS
CAPITAL PARTICULARS TO BR OFFICE (THE
INLAND REVENUE)]
PAID-UP
CAPITAL : NOT
APPLICABLE
BUSINESS LINE :
TRADING OF DIAMOND
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
NOT YET DETERMINED
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : N/A
EXCHANGE RATE :
HKD 7.81947 = USD1 AS OF 2007-7-17
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
SC was established under Business Registration number 36669282 on
25-3-2006 with present status as partnership.
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
- Popat Neelang Arvind / R021666(5) Same as
heading business address
- Boghani Vipulkumar Kesubhai Flat
9B, 9/F, Kok Pah Mansion,
/ R1367985 (admitted as partner on
28-2-2007)
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 Unit 802, Guardforce Centre,
SC's business activities actually commenced in Sep. 2006.
Popat Neelang Arvind, partner:
- He is 36 years old
- He is by Indian nationality
- Embarked upon his career to present field as a junior salesman in his
late 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Credit history check : This refers to a check of our database whether the said person has been involved in any of the following 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
Boghani Vipulkumar Kesubhai, partner:
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
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.
Upon a current contact, Popat Neelang Arvind, SC's partner, declined forwarding
any financial information on the ground that it is the company's policy not
releasing any data to a third party without the benefit of knowing the identity
of the inquiring party.
Re: In
Banking relations are maintained principally with: Wing Lung Bank Ltd.
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 records filed by SC for the last 2 years. In
Civil litigation/winding-up petitions : None in our
database.
Mortgage/charge record(s) : In HK, unlimited
companies are not required to file its charge particulars for public
inspection.
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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.
Trade payment experience : SC has currently commenced operation, its payment record has remained unestablished.
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.
SC's business activities actually commenced in Sep. 2006.
Business categories :
SC is engaged in trading of diamond.
Items available include loose diamond
Principal purchases :
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries :
Buying
terms : T/T
& open account of 60 to 120 days
Principal market :
Local--type
of customers : Manufacturers &
dealers
Selling
terms : COD &
credit of 60 to 120 days
Overseas--buying
countries : PR China, Bangkok & USA
Selling
terms : T/T &
open account of 60 to 120 days
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 commercial & residential building in a commercial &
shopping district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
SC is
not known to have any subsidiary at present.
SC is still in early stage of development,
operating on a small scale basis. As its track record has remained
unestablished & its principals are not well-known in the trade, a longer
period of observation seems appropriate for considering credit granting
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%)