MIRA
INFORM REPORT
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Report Date : |
30.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MILLENNIUM CARPET |
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Registered Office : |
Rm 1009, 10fl Horizon Plaza |
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Country : |
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Date of Incorporation : |
November 12, 2001 |
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Com. Reg. No.: |
32186498 |
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Legal Form : |
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Line of Business : |
Import of handmade carpets. Sales and distribution to local and overseas markets. |
RATING & COMMENTS
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MIRAs 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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Maximum Credit Limit : |
Up To US$ 3,000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name &
address
MILLENNIUM CARPET
RM 1009, 10FL
AP LEI CHAU
TEL : 852 25255011
FAX : 852 25250911
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 12, 2001
REGISTRATION NO. :
32186498
CHIEF EXECUTIVE :
MR. SHOAIB SULTAN (CHAIRMAN)
STAFF STRENGTH :
1
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION : FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.82207 = US$1 AS OF 2007-7-27
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*
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License number : 32186498
Date issued : 12
November, 2001
Issuing authority : Business Registration
Office - Inland Revenue Dept
Legal form : Sole
Proprietorship
Type of license :
Corporate
*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.
E-mail : millennium_carpet@yahoo.com
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Shareholders*
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Based on corporate filing regulations for this type of entity in
*Key Personnel*
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Shoaib Sultan
Founder : Sole
founder
HKID no. :
XG4510589
Address : Rm
D 1Fl 265 Queen's Rd East Wanchai
Responsibility :
Handles the overall management of the firm.
*Main Products & Services*
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Specializes in the following areas of work :
1. Import of handmade carpets.
2. Sales and distribution to local and overseas markets.
Products : Carpet
Handmade
carpets
*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.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 4 OBTAINED SCORES : 46
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Implication |
Implications |
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1 |
Scores 85100 |
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 : BANK OF EAST ASIA LTD
Branch : Ground Fl 44
Swiftcode : BEASHKHH
As a sole proprietorship there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line locally. With regard to its
size of operation and limited growth potential, credit should be confined to
small amount at present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2273 Carpets
and rugs
Trading 2399 Fabricated
textile products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 5700 Carpets
& other textile floor coverings
Trading 5705 Other
carpets & other
Trading 5911 Textile
products etc. for specific tech uses
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
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 SCs 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%)