MIRA
INFORM REPORT
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Report Date : |
05.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHAN-NIT
TRADING CO |
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Registered Office : |
RM G 25FL Costa Del Sol Block 8 Laguna Verde Hunghom
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.02.1999 |
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Com. Reg. No.: |
22277754 |
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Legal Form : |
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Line of Business : |
Trading diamonds. |
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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Maximum Credit Limit : |
Up To USD 4,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
CHAN-NIT
TRADING CO
RM G 25FL COSTA DEL SOL BLOCK 8 LAGUNA VERDE
HUNGHOM KOWLOON, HONG KONG
TEL: 852 27236407
FAX: 852 27240519
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 13, 1999
REGISTRATION NO. :
22277754
CHIEF EXECUTIVE :
MR. NITESH JAGDISHCHAN CHAUHAN (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
NA (AS OF DEC. 31, 2005)
EQUITIES :
NA (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 4,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.81339 AS OF 2007-3-5
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
*Company Registration*
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License number : 22277754
Date issued : 13
February, 1999
Issuing authority : Inland
Revenue Department
Type of license :
Business
*Office & Facilities*
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Previous Contact Detail
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Address : Rm 5, 10Fl Haiphong Mansion Tsim Sha Tsui, Kowloon, Hong
Kong
*Corporate & Organization Structure*
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A small-sized company operated and managed by the owner.
*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 : hareshsugenhk@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.
*Major Shareholders*
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Under Hong Kong corporate law, there is no existing
"shareholder" in a sole proprietorship.
Name Nationality
Job Description
Mr. Nitesh Jagdishchan Chauhan Indian
General Manager
*Key Personnel*
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Mr. Nitesh Jagdishchan Chauhan
Founder : Sole Founder
Passport no. : P9132507
Address : Rm 27-A,
7Fl Ocean View Court Chatham Rd, Tsimshatsui, Kowloon, Hong Kong.
Responsibilities : Handles the
overall management of the company.
Work experience : More than 5 years
*Main Products & Services*
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Specializes in trading diamonds.
Products : Diamonds
*Payment Terms*
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Sales
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Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
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50% of the annual turnover is attributed to local sales.
*Export Markets*
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50% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 4 OBTAINED SCORES : 45
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Implication |
Implications |
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1 |
Scores 85–100 |
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 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 with favorable market
conditions. It is considered a credit line up to USD4,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7102100000 Diamonds,
unsorted
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to North America
Exporting to USA
Importing from Asia
Importing from India
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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions