MIRA
INFORM REPORT
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Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MAHARAJAS INDIAN EMPORIUM |
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Registered Office : |
Unit A1, 1/F, Blk A, Friend's House, |
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Country : |
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Date of Incorporation : |
20-10-1999 |
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Com. Reg. No.: |
30439144 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Supply of Indian groceries. |
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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Maximum Credit Limit : |
Up To USD5,000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
MAHARAJAS INDIAN EMPORIUM
UNIT A1, 1/F, BLK A, FRIEND'S HOUSE,
TEL : 852 27565611
FAX : 852 27565693
EXECUTIVE SUMMARY
INCORPORATION DATE :
20-10-1999
REGISTRATION NO. :
30439144
REGISTERED LEGAL FORM :
SOLE PROPRIETORSHIP
CHIEF EXECUTIVE : VARTHAMANA CANDRANATHA
PRABAKARAN (SOLE PROPRIETOR)
STAFF STRENGTH :
5
AUTHORIZED CAPITAL : [IN
CAPITAL
PARTICULARS TO BR OFFICE (THE INLAND REVENUE)]
PAID-UP
CAPITAL : NOT APPLICABLE
BUSINESS LINE :
RETAIL OF INDIAN GROCERIES
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
AVERAGE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.8931 = USD1 AS OF 2007-05-29
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 30439144 on
20-10-1999 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
- Varthamana Chandranatha Prabakaran 6/F,
/ Z1003401
Tsimshatsui,
Certain material change or amendment regarding SC within the last 4
years has been traced & noted as follows:
Change of business address : SC moved to the heading business address
from 1/F,
Varthamana Chandranatha Prabakaran, sole proprietor:
- He is by Indian nationality
- Embarked upon his career to present field as a small businessman in
his late 20's
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
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 : 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.
During our report preparation, the principals could not be contacted
while the staff members hesitated to release financial information without the
principals' consent.
Banking relations are maintained principally with:
- HSBC
- Indian Overseas Bank
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 (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.
Business categories:
SC is engaged in supply of Indian groceries.
Items available include Indian newspapers & magazines, foods &
drinks and other groceries products.
Principal purchases :
Major
types of sourcing :
Merchandise, foods & drinks
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India & Middle East
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Walk-in customers
Selling
terms : COD
Overseas--buying
countries : Nil
Selling
terms : Nil
Total number of employees : 5.
Location : Maintaining
its shop at the heading business address which occupies a gross area of 700
square feet at a shopping & residential building in a commercial &
shopping district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
The premises is rented.
SC is not known to have any subsidiary at
present.
SC is considered small-sized in its line locally with acceptable base to
meet its normal dealings. Credit up to
small amount may 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
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%)