MIRA
INFORM REPORT
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Report Date : |
26.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNI RICH JEWELLERY LTD. |
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Registered Office : |
Unit 902-903, 9/F, Hilder Centre, 2 Sung Ping Street,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
26-5-2006 |
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Com. Reg. No.: |
1048060 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in 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 : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
UNI RICH JEWELLERY LTD.
UNIT 902-903, 9/F, HILDER CENTRE,
2 SUNG PING STREET, HUNGHOM, KOWLOON,HONG KONG.
TEL : 852 23762007
FAX : 852 23763734
EXECUTIVE SUMMARY
INCORPORATION DATE :
26-5-2006
REGISTRATION NO. :
1048060
REGISTERED LEGAL FORM :
PRIVATE LIMITED CO.
CHIEF EXECUTIVE : GOENKA SOHAN (DIRECTOR)
STAFF STRENGTH :
15 (SHARING WITH ITS AFFILIATE).
AUTHORIZED CAPITAL : HKD $2.5M = 2.5M SHARES @HKD $1.-
PAID-UP CAPITAL : HKD $2.5M
BUSINESS LINE :
TRADING OF FINE 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 7.81206 = USD1 AS OF 2007-03-26
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
The correct name of SC is the heading one instead of "Uni Rich
Jewellery Ltd." given by you.
SC is a private limited company registered under incorporation file no.
1048060 on 26-5-2006.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 26-5-2006) Number
of shares held
Goenka Sohan 1,750,000
Goenka Asha 750,000
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2,500,000
==========
Directors (as at
26-5-2006)
Goenka Sohan / K306069(1)
Goenka Asha / K306070(5)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Our current search revealed certain material change or amendment of SC
has been recorded within the last 2 years & noted as follows:
Change of business address : SC moved to the heading business address
from Suite 706, 7/F, Chevalier House, 45-51 Chatham Road South, Tsimshatsui,
Kln., HONG KONG in August 2006.
Total number of employees : 15 (sharing with its affiliate).
Location : Maintaining its office at the heading
business address which occupies a gross area of 2,500 square feet at an
industrial building in an industrial & residential 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): (x) see below ( ) see per attached
Creation date : 27-10-2006
Charger(s) :
SC
Chargee(s) :
Citibank N.A.
Secured amount : ANS
Charge particulars : Legal Charge (Flat B, 57/F & Flat B, 58/F, Tower 3,
Harbourfront Landmark, 11 Wan Hoi
St, Hunghom, Kowloon, HONG KONG)
Creation date : 27-10-2006
Charger(s) :
SC
Chargee(s) :
Citibank N.A.
Secured amount : ANS
Charge particulars : Rental Assignment (sam as above said address)
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2006
Year(s) in which mortgage satisfaction record(s) are filed: Nil
Goenka Sohan, director:
- In his early 40's
- Embarked upon his career to present field as a small businessman in
his mid 20's
- Also currently sole proprietor of Unique Diamonds, SC's affiliate
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat 5, 12/F, 5-7 Chatham Road South,
Tsimshatsui, Kowloon, HONG KONG.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Goenka Sohan + Goenka Asha
- Date of purchase & consideration : 31-5-2000 / HKD $3.2M
- Date of mortgage & secured amount : NA
- Mortgagee : NA
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
Goenka Asha, director
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Goenka Sohan.
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 : 2 Obtained scores : 62 (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 sapphire, ruby, emerald, diamond & color
gems stones.
Principal purchases :
Major
types of sourcing : Fine
jewellery
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : Thailand, India &
Belgium
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : Europe, Japan, South Korea,
Taiwan & SE Asia
Selling
terms : L/C &
T/T
Jointly occupying the premises with the below mentioned affiliate.
Affiliate(s):
Company name :
Unique Diamonds
Year established : 1994
Business nature : Similar to SC
Address : Same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
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: Citibank, N.A.
Upon a current
contact, Nair Sam, SC's manager, 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.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 26-5-2006 was NA.
SC is still in early stage of development with a comparatively limited
track record in its performance. On the
other hand, the principals appear to possess adequate experience and market connection
to take off its business. Credit in the
range of small to moderate amount may be considered.
NOTES:
Current land search indicates that SC owns the following premises:
- Address: Flat B, 57/F, Tower 3, Harbourfront Landmark, 11 Wan Hoi
Street, Hunghom, Kln., HONG KONG
- Owner(s): SC
- Date of purchase & consideration: 27-10-2006 / HKD $23.05M
- Date of mortgage & secured amount: 27-10-2006 / ANS
- Mortgagee: Legal Charge
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%)