MIRA
INFORM REPORT
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Report Date : |
27.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUGEM (H.K.) LTD. |
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Registered Office : |
Rm
1105-1108, 11/F, Hilder Centre, 2 Sung Ping Street, Hunghom, Kowloon |
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Country : |
Hong
Kong |
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Date of Incorporation : |
25-3-2002 |
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Com. Reg. No.: |
790559 |
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Legal Form : |
Private
Limited Co. |
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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 : |
Regular |
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Litigation : |
Clear |
Name & address
SUGEM
(H.K.) LTD.
RM
1105-1108, 11/F, HILDER CENTRE,
2 SUNG
PING STREET, HUNGHOM, KOWLOON, HONG KONG.
TEL: 852
27236407
FAX: 852
27224535
EXECUTIVE SUMMARY
INCORPORATION DATE : 25-3-2002
REGISTRATION NO. : 790559
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : SURANI BHUPENDRA JIVRAJBHAI
(DIRECTOR)
STAFF STRENGTH : 11
AUTHORIZED
CAPITAL : US$100,000 =
100,000 SHARES @$US$1.-
PAID-UP
CAPITAL : US$100,000
BUSINESS LINE : TRADING OF FINE JEWELRY
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 7.77780 = USD1 AS OF
2006-07-24
SC is a private limited company registered under incorporation file no.
790559 on 25-3-2002.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 25-3-2006) Number
of shares held
Surani Bhupendra Jivrajbhai 85,500
Surani Varsha Bhupendra 9,500
J.B.Diamonds (H.K.) Ltd. 5,000
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100,000
=======
Directors (as at 25-3-2006)
Surani Bhupendra Jivrajbhai / P404971(7)
Surani Varsha Bhupendra / P753203(6)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
No material change or amendment regarding SC has been traced & noted
within last 2 years.
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 :
26-1-2005
Charger(s) : SC
Chargee(s) :
Antwerp Diamond Bank NV
Secured amount : ANS
Charge particulars :
Further debenture
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2002 & 2005
Year(s) in which mortgage satisfaction record(s) are filed: Nil
Surani Bhupendra Jivrajbhai, director:
- Embarked upon his career to present field in his 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: No. 31 King's Park Hill Road, Homantin,
Kowloon, HONG KONG.
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
Surani Varsha Bhupendra, director:
- Embarked upon his career to present field in his 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Surani Bhupendre Jivrajbhai.
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 : 63 (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 semi-precious & coloured gemstones
(including ruby, sapphires, tigers, rough colour stones, etc), cut diamond
& jewellery products.
Principal purchases :
Major types of sourcing :
Merchandise
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
PR China, Thailand & India
Buying terms :
L/C & T/T
Principal market :
Local--type of customers :
Manufacturer and retailers
Selling terms :
COD & credit of 30 days
Overseas--buying countries :
PR China, SE Asia, USA & Europe
Selling terms :
L/C & T/T
Total number of employees : 11.
Location : Maintaining its office at the heading business address which occupies a
gross area of 2,800 square feet at a commercial building in an industrial &
commercial district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
The premises is rented.
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
- Antwerp Diamond Bank NV
During our report preparation,
the principals could not be contacted while the staff members hesitated to
release financial information without the principals' consent.
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 25-3-2006 was HKD234M.
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%)