MIRA
INFORM REPORT
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Report Date : |
30.07.2007 |
IDENTIFICATION DETAILS
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Name : |
V S TRADING LTD |
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Registered Office : |
Flat G 7fl Wing Lee Bldg 33 |
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Country : |
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Date of Incorporation : |
March.30, 2007 |
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Com. Reg. No.: |
1119597 |
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Legal Form : |
Private |
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Line of Business : |
Local purchase of giftware and jewelry products Distribution of the products to the local market |
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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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name &
address
V S TRADING LTD
FLAT G 7FL WING LEE BLDG
TEL : [+852] 27219689
FAX : [+852] 23674229
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH.30, 2007
REGISTRATION NO. :
1119597
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. MOHAMED SULTAN SADAK MEERAN (CHAIRMAN)
STAFF STRENGTH :
2
CAPITAL :
US$ 25,575
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT : FAIR
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : N/A
EXCHANGE RATE :
HKD 7.82170 = USD1 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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(1)
License number :
1119597
Date issued :
30 March, 2007
Issuing authority :
Companies Registry
Type of license :
Corporate
(2)
License number :
37785156-000
Date issued :
30 March, 2007
Issuing authority :
Business Registration Office - Inland Revenue Dept
Type of license :
Business
*Capital Details*
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Authorized capital : HKD 200,000.00 divided into 200,000
shares at HKD 1.00/-each, fully paid
*Office & Facilities*
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Type of building : Commercial building
*Reputation*
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Due to the recent incorporation of the firm, and the
relatively small nature of its business, no meaningful points of reference in
terms of reputation within the respective industry was possible.
*Approved Signatures*
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The following directors can sign on behalf of the company
with seal affixed :
- Mohamed Sultan Sadak Meeran
- Mohamed Sultan Seyed Ismail
*Company Secretary*
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Mr. Mohamed Sultan Seyed Ismail
HKID number
: P040185(8)
Address
: Suite G 7Fl Wing Lee Bldg
Date of appointment
: 30 March, 2007
Email : vstrade@netvigator.com
SC
is not known to host website of its own at present
For the past 3 months there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 2
Total number of shares : 200,000
Shareholders' Name No. of Shares Amount of Shares (HKD) % of Shares
-------------------------- ------------------ ---------------------------------- ----------------
Mr. Mohamed Sultan Sadak Meeran 100,000 100,000.00 50.00
Mr. Mohamed Sultan Seyed Ismail 100,000 100,000.00 50.00
*Directors' Details*
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The following directors can be reach at Suite G 7Fl Wing Lee
Bldg 33 Kimberley Rd Tsimshatsui Kowloon Hong Kong :
(1)
Mr. Mohamed Sultan Sadak Meeran
HKID number
: K704411(9)
Email :
vstrade@netvigator.com
Date of appointment :
30 March, 2007
Qualification
: Merchant
(2)
Mr. Mohamed Sultan Seyed Ismail
HKID number
: P040185(8)
Date of appointment :
30 March, 2007
*Main Products & Services*
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Specializes in the following areas of work :
1. Local purchase of giftware and jewelry products
2. Distribution of the products to the local market
Products : Giftware
Imitation jewelry
Jewelry
*Payment Terms*
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Sales
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Local : Cash or
Credit
Export : Letter of
Credit (L/C)
Telegraphic Transfer
Purchases
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Local : Cash or
Credit
*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 : 35
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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.
As a private limited company there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
Additionally, as the company was only incorporated three (3)
months ago no financial have been lodged.
*BANK DETAILS*
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Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central,
Branch Address : Basement Level HSBC Main Bldg 1 Queen's Rd
SWIFT Code : HSBCHKHH
SC was established three months ago, and its credit has not
been established yet.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading 3911 Jewelry, of precious metal
Trading 3961 Jewelry of materials other than solid gold, platinum
& silver
Trading 5094 Jewelry/Watches/Precious Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading 7113 Articles of jewelry & parts, of precious metal or
clad
Trading 7116201000 Jewelry of precious or semiprecious stones
Trading 7117 Imitation jewelry
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
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%)