MIRA
INFORM REPORT
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Report Date : |
26.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
COMET GEMS |
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Registered Office : |
Room 805, 8/F, Hang Seng Bank Building,18 Carnarvon Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24-11-1969 |
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Com. Reg. No.: |
02845987 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in 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 : |
Usually correct |
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Litigation : |
Clear |
name & address
COMET GEMS
ROOM 805, 8/F, HANG SENG BANK BUILDING,18 CARNARVON ROAD,
TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23685441
FAX : 852 27212565
EXECUTIVE SUMMARY
INCORPORATION DATE :
24-11-1969
REGISTRATION NO. :
02845987
REGISTERED LEGAL FORM : SOLE PROPRIETORSHIP
CHIEF EXECUTIVE : SUKHADIA SAMIR (SOLE
PROPRIETOR)
STAFF STRENGTH :
3
AUTHORIZED CAPITAL : [IN HK, UNLIMITED COMPANIES ARE
NOT REQUIRED TO FILE ITS
CAPITAL
PARTICULARS TO BR OFFICE (THE INLAND REVENUE)]
PAID-UP CAPITAL : NOT APPLICABLE
BUSINESS LINE :
TRADING OF JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81175 = USD1 AS OF 2007-3-23
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
02845987 on 24-11-1969 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
- Sukhadia Samir / ZZ5101254 Room
A, 15/F, Star Mansion,
3-5
Minden Row, Tsimshatsui,
Kowloon,
HK.
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
Parihk Gaurav Nayan 8-11-2004
Total number of employees : 3.
Location : Maintaining its office at the heading business
address which occupies a gross area of 500 square feet at a commercial building
in a commercial & shopping district.
Condition inside the premises
during our visit : Normal.
Office/factory layout : Standard.
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.
Sukhadia Samir, sole proprietor:
- He is by Indian nationality
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 : 57 (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 jewellery.
Items available include sapphire, ruby, emerald &
diamond.
Principal purchases :
Major types of sourcing :
Jewellery
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
Thailand, India, SE Asia, Belarus & Columbia
Buying terms :
L/C & T/T
Principal market :
Local--type of customers :
Wholesalers
Selling terms :
COD & credit of 30-45 days
Overseas--buying countries :
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 operation, SC is not an active seeker of local commercial
credit.
Its expenses in the form of accruals and servicing are reportedly met in a 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, Mr. Mustak, SC's executive, 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%)