MIRA
INFORM REPORT
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Report Date : |
18.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MAHAVIR DIAM |
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Registered Office : |
Flat D, 3/F, |
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Country : |
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Date of Incorporation : |
22-4-2005 |
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Com. Reg. No.: |
35549550 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import & 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 : |
Regular |
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Litigation : |
Clear |
name & address
MAHAVIR DIAM
FLAT D, 3/F,
TEL : 852 23699950 / 23699951
FAX : 852 23699995
EXECUTIVE SUMMARY
INCORPORATION DATE :
22-4-2005
REGISTRATION NO. :
35549550
REGISTERED LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE : DOSHI CHINTAN SHASHIKANT
(SOLE PROPRIETOR)
STAFF STRENGTH :
1
AUTHORIZED CAPITAL : [IN
CAPITAL
PARTICULARS TO BR OFFICE (THE INLAND REVENUE)]
PAID-UP CAPITAL
: NOT APPLICABLE
BUSINESS LINE : IMPORT & SUPPLY OF
DIAMOND
TURNOVER :
HKD 50M (8 MONTHS ENDED 31-12-2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.641 = USD1 AS OF 2007-6-4
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
The complete address of SC is the heading one instead of the address
given by you.
SC was established under Business Registration number 35549550 on
22-4-2005 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
- Doshi Chintan Shashikant / E7575726 Flat C, 5/F,
Tsimshatsui,
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 Flat C, 5/F, Lising Court, 34-36 Granville Road, Tsimshatsui, Kowloon,
Hong Kong.
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 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.
Doshi Chintan Shashikant, sole proprietor:
- He is by Indian nationality
- He has 4 years of experience in present field
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) : Kwan Chak Ming & Chan Sau Hung
- Date of purchase & consideration : 20-8-2002 / HKD0.8M
- Date of mortgage & secured amount : 20-8-2002 / ANS
- Mortgagee : The Bank of East Asia Ltd.
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.
Business categories :
SC is engaged in import & supply of diamond.
Principal purchases :
Major
types of sourcing :
Merchandise (diamond)
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries :
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Manufacturers
Selling
terms : COD
Overseas--buying
countries : Nil
Selling
terms : Nil
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 residential building in a residential district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
Property ownership : Current land search indicates the ownership details
of the captioned premises as follows:
- Owner(s) : Doshi Chintan Shashikant
(SC's sole proprietor)
- Date of purchase & consideration : 7-9-2005 / HKD1.8M
- Date of mortgage & secured amount : NA
- Mortgagee : NA
SC is not known to have any subsidiary at present.
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.
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.
Banking relations are maintained principally with: Hang Seng Bank Ltd.
Upon a current
contact, Doshi Chintan Shashikant, SC's sole proprietor, refused releasing
detailed financial data but advised that SC's turnover in 2005 was HKD50M.
SC is considered small-sized in its line locally with a short history.
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%)