MIRA
INFORM REPORT
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Report Date : |
13th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL ENTERPRISES |
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Registered Office : |
Room 701-2, 7/F,
Yip Fung Building, 2-18 D'aguilar Street, Central Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.04.1978 |
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Com. Reg. No.: |
05566326 |
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Legal Form : |
Partnership |
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Line of Business : |
Engaged in design & trading of 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 : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company name & Address
ROYAL ENTERPRISES
ROOM 701-2, 7/F,
YIP FUNG BUILDING, 2-18 D'AGUILAR STREET, CENTRAL, HONG KONG.
TEL : 852 25212443
FAX : 852 28452706
EXECUTIVE SUMMARY
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INCORPORATION
DATE |
1-4-1978 |
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REGISTRATION NO. |
05566326 |
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REGISTERED LEGAL
FORM |
PARTNERSHIP |
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CHIEF EXECUTIVE |
SADHWANI RAJESH MOHANDAS (PARTNER) |
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STAFF STRENGTH |
3 |
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AUTHORIZED
CAPITAL |
[IN HONG KONG, UNLIMITED COMPANIES
ARE NOT REQUIRED TO FILE ITS CAPITAL PARTICULARS TO BR OFFICE (THE INLAND |
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PAID-UP CAPITAL |
NOT APPLICABLE |
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BUSINESS LINE |
DESIGN & TRADING OF JEWELLERY |
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TURNOVER |
N/A (AS OF DEC. 31, 2005) |
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EQUITIES |
N/A (AS OF DEC.
31, 2005) |
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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 7.78045 = USD1 AS OF 2006-11-24 |
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
SC was established under Business Registration number 05566326 on
1-4-1978 with present status as partnership.
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
Sadhwani Mohan Tikamdas / Q178986 Rm E, 12/F,
Victoria Road,
10
Scenic Villa Drive, Pokfulam,
Hong
Kong.
Sadhwani Rajesh Mohandas / K056231 28 Scenic Villa
Drive, Apt. 14N,
Victoria
Road, Hong Kong.
Certain material change or amendment regarding SC within the last 4
years has been traced & noted as follows:
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Nil Nil
Name(s) of retired partner(s) Leaving
date
Sadhwani Thawerdas Tikamdas 6-3-2006
Sadheani Prakash Suresh 6-3-2006
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 Hong Kong, unlimited companies are not
required to file its charge particulars for public inspection.
Sadhwani Rajesh Mohandas, partner:
- In her 40's
- She is by Indian nationality
- Embarked upon her career to present field as a junior salesman in her
late 20's
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) : Rich Union Investment Ltd.
- Date of purchase & consideration : 27-3-1997 / HKD14.7M (pt.)
- Date of mortgage & secured amount : 23-3-2005 / ANS
- Mortgagee : Wing Lung Bank 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
Sadhwani Mohan Tikamdas, partner:
- He is by Indian nationality
- Embarked upon his career to present field as a junior salesman in his
early 30'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:
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 : 60 (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 design & trading of jewellery.
Items available include colored stone, diamond rings, earrings and
necklaces.
Production is assigned to its affiliated factory/joint venture
factory located at Dongguan, Guangdong
Province, PR China.
Principal purchases :
Major
types of sourcing : Merchandise,
raw materials & accessories
Local--type
of suppliers : Manufacturers,
importers & distributors
Buying
terms : Credit
of 30 days
Overseas--supplying
countries : Belgium, India & Israel
Buying
terms : T/T, L/C
& special agreed terms
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : USA & SE Asia
Selling
terms : COD, L/C
& T/T
Total number of employees :
3.
Location :
Maintaining its office at the heading
business address which occupies a gross area of 1,800 square feet at a
commercial building in a commercial district.
Condition inside the premises during our visit :
Active.
Office/factory layout :
Good.
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 :
SC did not provide
any name of trade/service suppliers and we have no
other sources to
conduct the enquiry at present.
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
- Bank of India
Upon a current
contact, Sadhwani Mohan Tikamdas, SC's partner, declined forwarding any
financial information on the ground that it is the company's policy not releasing
any data to a third party without the benefit of knowing the identity of the
inquiring party.
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements.
Credit in the range of moderate amount can 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%)