MIRA
INFORM REPORT
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Report Date : |
27.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
STAR ASIA LEATHER COMPANY |
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Registered Office : |
Flat E 11FL Windsor Mansion 29-31 Chatham Rd Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.03.2004 |
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Com. Reg. No.: |
34339308-000 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trading leather products. |
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. |
Small |
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Maximum Credit Limit : |
USD 3,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name and address
STAR ASIA LEATHER CO
FLAT E 11FL WINDSOR MANSION 29-31 CHATHAM RD
TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-27364400 FAX: 852-27364402
EXECUTIVE SUMMARY
INCORPORATION DATE : MARCH 1, 2004
REGISTRATION NO. : 34339308-000
LEGAL FORM : SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE : MR. EHTESHAM MOHAMMAD (CHAIRMAN)
STAFF STRENGTH : 3
CAPITAL : N/A
BUSINESS LINE : TRADER
TURNOVER : N/A (AS OF DEC. 31, 2006)
EQUITIES : N/A (AS OF DEC. 31, 2006)
PAYMENT : FAIR
RECOMM. CREDIT RANGE : UP TO USD 3,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIR STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : HKD 7.78198 = US$1
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
*Office & Facilities*
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Previous address : Rm 1505, 15Fl Star House 3 Salos Bury Rd, Tsimshatsui, Kowloon
*Reputation*
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Due to the lack of any third party references, We were unable to establish the level of the firm's reputation within the respective industry.
SC is not known to host website of its own at present.
E-mail: gemhouse@netvgator.com
For the past two years there is no record of litigation.
Based on corporate filing regulations for this type of entity in Hong Kong, there is either, no requirement for Shareholders or no requirement for public disclosure of Shareholders.
Management : Mr. Ehtesham Mohammad, CEO
Name Nationality Job Description
Mr. Ehtesham Mohammad Indian CEO
*Key Personnel*
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Ehtesham Mohammad
Founder : Sole Founder
National ID number : ZZ6975649
Address : D-25 Chandralok Apts 105 Sydenhams Rd, Periamet, Chennai (Madras), Tamil Nadu,
600003 India
Responsibility : Handles the overall management of the firm
*Main Products & Services*
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Specializes in the following areas of work:
1. Trading leather products.
3. Also acts as a commission agent.
Products: Commission agents
Leather products
*Payment Terms*
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Sales
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Local : Cash or credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
SC is not known to
have any subsidiary at present.
PAYMENT RATING : 4 OBTAINED
SCORES : 48
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Rating Key |
Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating
indicates the payment pattern of SC based upon our Payment Database, comments
from suppliers of SC, information from banks (if available), as well as
industrial sources.
Dealings on
open terms may be possible for SMALL amounts depending on individual judgement experience.
As a sole proprietorship there is no legal requirement according to local corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central
Swift code : HSBCHKHH
SC is considered small-sized in its line with a short history. Taking into consideration of SC’s general performance, a credit line up to USD 3,000 would appear to be within SC’s capacities.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Service 7300 Business Services
Trading 3100 Leather and Leather Products
Trading 3199 Leather goods,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Service 9900 Business services, health, financial/insur. legal/real estate, hotels, and misc repairs
Trading 4205 Articles of leather
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Importing from Asia
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. |
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%)