MIRA
INFORM REPORT
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Report Date : |
13th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
JIN GEMS |
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Registered Office : |
Flat E, 13/F, Star
Mansion, B-5 Minden Row, Mody Road, Tsimshatsui, Kowloon, HK. |
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Country : |
Hong Kong |
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Date of Incorporation : |
19-6-1991 |
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Com. Reg. No.: |
14616728 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Trading of Fine
Jewellery |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name
JIN GEMS
FLAT C, 12/F, MASS RESOURCES DEVELOPMENT BUILDING,
12 HUMPHREYS AVENUE, TSIMSHATSUI, KOWLOON,, HONG KONG.
TEL : 852 23671373
FAX : 852 23671511
EXECUTIVE SUMMARY
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INCORPORATION DATE |
19-6-1991 |
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REGISTRATION NO. |
14616728 |
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REGISTERED LEGAL
FORM |
SOLE
PROPRIETORSHIP |
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CHIEF EXECUTIVE |
DAGA RAJENDRA
KUMAR (SOLE PROPRIETOR) |
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STAFF STRENGTH |
6. |
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AUTHORIZED CAPITAL |
[IN HK, UNLIMITED COS. ARE NOT REQUIRED TO FILE
ITS CAPITAL PARTICULARS TO BR OFFICE (THE INLAND REVENUE)] |
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PAID-UP CAPITAL |
NOT APPLICABLE |
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BUSINESS LINE |
TRADING OF FINE
JEWELLERY |
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TURNOVER |
N/A (AS OF
DEC. 31, 2004) |
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EQUITIES |
N/A (AS OF DEC. 31, 2004) |
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PAYMENT |
AVERAGE |
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RECOMM. CREDIT
RANGE |
MODERATE AMOUNT |
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MARKET CONDITION |
COMPETITIVE |
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FINANCIAL CONDITION |
STABLE |
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OPERATIONAL TREND |
FAIRLY STEADY |
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GENERAL REPUTATION |
AVERAGE |
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EXCHANGE RATE |
HKD 7.76090 = USD1 AS OF 2006-06-12 |
SC was established under Business Registration number 14616728 on 19-6-1991 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
- Daga Rajendra Kumar / P133887(4) Flat E, 13/F, Star Mansion,
B-5 Minden Row, Mody Road,
Tsimshatsui, Kowloon, HK.
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, 4/F, Heung Sun Mansion, 45-47 Carnarvon Road, Tsimshatsui, Kowloon, HK in May 2001.
Note: The correct address of SC is the heading one instead of the address given by you.
Total number of employees :
6.
Location :
Maintaining its office at the heading business address which occupies a gross area of 1,000 square feet at a commercial building in a commercial & shopping district.
Condition inside the premises during our visit :
Normal.
Office/factory layout :
Standard.
The premises is rented.
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 Hong Kong, creation of such mortgages/charges by an unlimited co is not required to be registered in the public records.
Civil litigation/winding-up petitions :
None in our database.
Mortgage/charge record(s) :In
HK, unlimited companies are not required to file its charge particulars for public inspection.
Daga Rajendra Kumar, sole proprietor & main founder:
- In his 40's
- He is by Indian nationality
- Embarked upon his career to present field as a junior salesman in his early 20's
Currently active in SC's day-to-day operations & is responsible for its management.
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:
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 Civil
collection
litigations :(X) see below ( ) see per attached
Date : 22-7-1999
Defendant(s) : The said person
Plaintiff(s) : Commissioner of Inland Revenue
Cause of claims : Tax
Claimed amount : HKD 156,208
Ownership background appraisal:
Rating : 3Obtained 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 trading of fine jewellery.
Items available include precious & semi-precious stones, diamond, gemset jewellery, jade & gemstones.
Principal purchases :
Major types of sourcing : Merchandise
Local--type of suppliers : Nil
Buying terms : Nil
Overseas--supplying countries : India (mainly), Thailand & Belgium
Buying terms : L/C & T/T
Principal market :
Local--type of customers : Nil
Selling terms : Nil
Overseas--buying countries : Japan, SE Asia, USA & Europe
Selling terms : L/C & T/T
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.
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.
Banking relations are maintained principally with: HSBC.
Upon
a current contact, SC's principal(s) declined forwarding any financial information
on the ground that SC is a private venture whose data is not required for
public inspection.
Re: In HK, only the public listed cos., financial institutions & overseas cos. are obligated to file their financial statements to Companies Registry for public search. Generally, the private limited cos. & unlimited cos. always keep those data as highly confidential matter.
SC is considered small-sized in its line locally with acceptable base to meet its normal dealings. Credit up to moderate amount may be considered.
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%)