MIRA
INFORM REPORT
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Report Date : |
17.05.2007 |
IDENTIFICATION DETAILS
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Name : |
NASSA GEM & JEWELLERY CO. |
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Registered Office : |
Flat D, 9/F, |
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Country : |
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Date of Incorporation : |
14-9-2006 |
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Com. Reg. No.: |
37151931 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trading of artificial jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exists |
name & address
NASSA GEM & JEWELLERY CO.
FLAT D, 9/F,
TEL : 852 23013888
FAX : 852 23127888
EXECUTIVE SUMMARY
INCORPORATION DATE :
14-9-2006
REGISTRATION NO. :
37151931
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE : MODI NIMISHA MURESH (SOLE PROPRIETOR)
STAFF STRENGTH :
4.
AUTHORIZED CAPITAL : [IN
CAPITAL PARTICULARS TO BR OFFICE (THE INLAND
REVENUE)]
PAID-UP
CAPITAL : NOT
APPLICABLE
BUSINESS LINE :
TRADING OF ARTIFICIAL JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81981 = USD1 AS OF 2007-05-17
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
SC was established under Business Registration number 37151931 on 14-9-2006 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
- Modi Nimisha Mukesh / K873837(8) Flat A, 7/F,
Tsimshatsui,
No material change or amendment regarding SC has been traced & noted
since its inception.
Modi Nimisha Mukesh, sole proprietor:
- In his late 40's
- He is by Indian nationality
- He has over 5 years of experience in present field
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) : Golden Sunflower Industries Ltd.
- Date of purchase & consideration : 8-7-1997 / HKD $2.75M
- 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
stored by us within the last 6 years:
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
Civil litigations : ( ) see
below (X) see per attached
We could not verify whether the defendants of the attached writ records
and SC's sole proprietor are one and the same person although their name
spellings are identical. In
Ownership background appraisal:
Rating : 3 Obtained scores : 50 (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.
Upon a current contact, Modi Nimisha Mukesh, SC's sole proprietor,
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.
Banking
relations are maintained principally with: HSBC.
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 records filed by SC for the last 2 years. In
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.
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average
(X) 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.
Business categories:
SC is engaged in trading of artificial jewellery.
Items available include rings, bracelets, ear pieces & necklaces.
Principal purchases :
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : PR China
Buying
terms : T/T
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries :
Selling
terms : L/C
Total number of employees : 4.
Location : Maintaining
its office at the heading business address which occupies a gross area of 600
square feet at a commercial & residential building in a shopping &
residential district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
SC is not known to have any subsidiary at
present.
SC is still in embryonic stage of
development with comparatively limited track record. In view of the writ record of SC's sole
proprietor, it seems more appropriate to take a longer period of observation
for coming into any credit dealings.
APPENDIX
SUPPLEMENTARY INFORMATION:
Attached document (total no. of pages : 2)
1.
Civil litigations check of SC's sole proprietor
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%)