MIRA
INFORM REPORT
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Report Date : |
27.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHAN-NIT TRADING CO |
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Registered Office : |
Unit G, 25/F, Blk 8, Costa Del Sol, Laguna Verde, Hung
Hom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
13-2-1999 |
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Com. Reg. No.: |
22277754 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Egaged 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 : |
Regular |
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Litigation : |
Clear |
name & address
CHAN-NIT TRADING CO
UNIT G, 25/F, BLK 8, COSTA DEL SOL,
LAGUNA VERDE, HUNG HOM, KOWLOON, HONG KONG.
TEL: 852 23757878 FAX: 852 23758080
EXECUTIVE SUMMARY
INCORPORATION DATE :
13-2-1999
REGISTRATION NO. :
22277754
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE : CHAUHAN NITESH JAGDISHCHANDRA (SOLE PROPRIETOR)
STAFF STRENGTH :
3.
AUTHORIZED CAPITAL :
[IN HK, UNLIMITED COS. 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 7.81379 = USD1 AS OF 2007-3-27
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
Your given name (Cha-Nit Trading Co.) is not listed in companies list in
Business Registration Office in Hong Kong. Based on your given address, we
believe your search target is Chan-Nit Trading Co.
SC was established under Business Registration number 22277754 on
13-2-1999 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
- Chauhan Nitesh Jagdishchandra 7/F, 27A
Ocean View Court,
/
G095460 Chatham
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 from 9/F, China Minmetals Tower,
79-79A Chatham Road South, Tsimshatsui, Kowloon, HK to Rm 1005, 10/F, Hai Phong
Mansion, 99-101 Nathan Road, Tsimshatsui, Kowloon, HK in Oct 2003 and then
moved to the heading business address in May 2006.
Total number of employees: 3.
Location: Maintaining
its office at the heading business address which occupies a gross area of 682
square feet at a residential building in a residential & commercial
district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Property ownership: Current land search indicates the ownership details
of the captioned premises as follows:
- Owner(s) : Chauhan Nitesh Jadgishchandra * & Chauhan Dimple Nitesh
- Date of purchase & consideration : 20-8-2005 /HK$3,568,000
- Date of mortgage & secured amount : 27-9-2005 / ANS
- Mortgagee : HSBC (* SC's
sole proprietor)
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.
Chauhan Nitesh Jagdishchandra, sole proprietor: He is by Indian nationality.
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) : Harjani Dayal Kishinchand & Harjani Veena Dayaldas
- Date of purchase & consideration : 21-2-1997 / ANS
- Date of mortgage & secured amount : 15-11-2001 / ANS
- Mortgagee : Indian Overseas Bank
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 : 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 jewellery.
Items available include rings, bracelets, earrings, pendants &
brooches.
Principal purchases :
Major
types of sourcing :
Merchandise
Local--type
of suppliers : NA
Buying
terms : NA
Overseas--supplying
countries : India, Thailand, SE Asia
& S. Africa
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : PR China & SE Asia
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 : 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 China (HK) Ltd.
- Indian Overseas Bank
Upon a current contact, Mr. Nishar, SC's administrator, 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.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
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%)