MIRA
INFORM REPORT
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Report Date : |
18.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SEVEN STARS |
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Registered Office : |
Blk E, 5/F, |
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Country : |
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Date of Incorporation : |
5-6-1997 |
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Com. Reg. No.: |
20996675 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in trading & supply 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 |
name & address
SEVEN STARS
BLK E, 5/F,
TEL : 852 91044997
FAX : 852 23666487
EXECUTIVE SUMMARY
INCORPORATION DATE :
5-6-1997
REGISTRATION NO. :
20996675
REGISTERED LEGAL FORM :
SOLE PROPRIETORSHIP
CHIEF EXECUTIVE : MAHESHWARI SANJEEV (SOLE PROPRIETOR)
STAFF STRENGTH :
4
AUTHORIZED CAPITAL : [IN
CAPITAL
PARTICULARS TO BR OFFICE (THE INLAND REVENUE)]
PAID-UP CAPITAL
: NOT APPLICABLE
BUSINESS LINE :
TRADING & SUPPLY OF DIAMOND
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A
(AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81954 = USD1 AS OF 2007-07-17
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 20996675
on 5-6-1997 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
- Maheshwari Sanjeev /
P369913(0) Flat
F & G, 16/F,
3-5
Certain material change or amendment regarding SC within the
last 4 years has been traced & noted as follows:
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Pareek Ashish 26-3-2003
Name(s) of retired partner(s) Leaving
date
Pareek Ashish 31-8-2004
Change of business address : SC moved to the heading
business address from Flat D, 4/F, Union Mansion, 33-35 Chatham Road, Tsimshatsui,
Kowloon, Hong Kong in Dec 2004.
Maheshwari Sanjeev, sole proprietor:
- In his mid 30's & married
- He is by Indian nationality
- Embarked upon his career to present field as a junior
salesman in his 20's
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) : Leung Chuen Fai *
- Date of purchase & consideration : 14-7-2000 / HKD$1M
- Date of mortgage & secured amount : NA
- Mortgagee : NA
(For Flat F of the above stated address)
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
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,
Banking relations are maintained principally with:
- Hang Seng Bank Ltd.
- 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 Hong Kong, unlimited companies are not
required to file its charge particulars for public inspection.
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.
Trade payment experience : Owing to the nature of its business, SC is not an active seeker of local commercial credit since merchandise/materials are imported. Its expenses in the form of accruals and servicing are reportedly met in prompt manner.
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.
Business categories :
SC is engaged in trading & supply of diamond.
Principal purchases :
Major types of sourcing :
Diamond
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
Buying terms :
L/C & T/T
Principal market :
Local--type of customers :
Wholesalers & dealers
Selling terms :
Credit of 30 days & local L/C
Overseas--buying countries :
Selling terms :
L/C & T/T
Total number of employees : 4.
Location : Maintaining its office at the heading business
address which occupies a gross area of 700 square feet at a residential
building in a commercial & shopping district.
Condition inside the premises
during our visit :
Office/factory layout : Standard.
Property ownership : Current land search indicates the
ownership details of the heading premises as follows:
- Owner(s) : Maheshwari Rashmi
- Date of purchase & consideration : 15-9-2004 /
HKD$1,568,500
- Date of mortgage & secured amount : 15-9-2004 / ANS
- Mortgagee : Wing Lung Bank Ltd.
SC is not known to have any subsidiary at present.
SC is considered small-sized in its line locally with
limited potential for further business growth.
In view of its long business history and comparatively low overhead, credit in the
range of small amount may be considered.
-- Asset Tracing --
Upon our current investigation, our database & sources
consulted indicate that SC was not involved in any property transaction (both
purchase & disposal) in
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%)