MIRA
INFORM REPORT
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Report Date : |
24.10.2007 |
IDENTIFICATION DETAILS
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Name : |
COMET INT'L (HK) LTD |
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Registered Office : |
Unit 1118-1119 Metro Centre Ii 21 Lam Hing St, |
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Country : |
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Date of Incorporation : |
November 27, 2002 |
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Com. Reg. No.: |
0823132 |
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Legal Form : |
Private |
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Line of Business : |
Trading of household appliances and equipment. |
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 : |
Up To USD 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name &
address
COMET INT'L (HK) LTD
UNIT 1118-1119 METRO CENTRE II 21 LAM HING ST
TEL : 852-28728086
FAX : 852-28558511
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 27, 2002
REGISTRATION NO. :
0823132
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
15
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.75093 = 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 –
*Company Registration*
===================
(1)
License number : 0823132
Date issued : 27
November, 2002
Issuing authority : Companies
Registry
Type of license : Corporate
license
(2)
License number : 33165316-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
license
*Company History*
===============
1999 - Invested capital in
*Capital Details*
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Authorized capital : HKD 10,000.00 divided into 10,000 ordinary shares
at HKD 1.00/-each, fully paid
*Office & Facilities*
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Other Contact Details
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Tel no : 35280040
Fax no : 35280048
*Corporate & Organization Structure*
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A family-owned and operated business.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
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Only Mr. Bimal Madhukant Selarka can sign on behalf of the company with
seal affixed.
www.comethk.com The design is
professional and the content is well organized. At present it is in English
version.
E-mail: info@comethk.com
For the past two years there is no record of litigation.
Adverse Press Coverage ( 1 )
Country :
Newspaper :
Date : 10 August, 2001
Title : Shipment without Original Bill of Lading
Summary : According to the news, COMET INT'L (HK) LTD had shipped around
150 containers in short period with the Hong Kong arm of USA-based forwarder
with little problem.
Also, the news stated that some of these containers have been released
to third party without Original Bill of Lading.
*Major Shareholders*
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Total number of shareholders :
2
Total number of ordinary shares : 10,000
Shareholders' Name
No. of Ordinary Shares Amount
of Shares (HKD) % of Shares
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Bimal Madhukant Selarka 6,667 6,667.00 66.67
Nilesh Manshukhlal Selarka 3,333 3,333.00 33.33
*Directors' Details*
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(1)
Bimal Madhukant Selarka
HKID no : P285500(7)
Address : 103, 1Fl
Email :
bimal@comethk.com
Responsibility : OEM Projects
(2)
Nilesh Manshukhlal Selarka
HKID no : P537081(0)
Address : Flat D 1Fl
laguna City - Block 4 Kwun Tong Kowloon Hong Kong
(3)
Willy Selarka
Mobile no : 90520320
Email address : willy@comethk.com
(4)
Raja Selarka
Mobile no : 91491530
Email address : raja@comethk.com
*Company Secretary*
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Bimal Madhukant Selarka
HKID no : P285500(7)
Address : 103, 1Fl
Email :
bimal@comethk.com
Responsibility : OEM Projects
SC declined to release its management background at present.
*Main Products & Services*
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Specializes in the following areas of work :
1. Trading of household appliances and equipment.
2. Provides the following services:
- OEM projects
- Inspection
- After sales
- Software programming
Products: After-sales services
Blenders
Breakfast
makers
Coffee makers
Electric household
equipment
*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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Local : Cash or credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Quality Certification*
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Obtained the following certifications :
- CE
- GS
- UL
- FC
*Exhibition Participation*
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Exhibition fair : Hong Kong
Gifts & Premium Fair
Dates attended : 28 April, 2005 - 1 May, 2005
Location :
*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.
*Overseas Suppliers*
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Country :
Supplier's Name : ASIAN SKY
SHOP LTD
Products/Materials : Electric household equipment
*International Exhibition Participation*
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Exhibition fair : Giftionery
Taipei - Taipei Int'l Gift & Stationery Spring Show
Dates attended : 22 - 25 April, 2005
Location :
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains branch office in
PAYMENT RATING : 4 OBTAINED SCORES : 48
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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 limited company 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,
Branch Address : Basement Level HSBC Main Bldg 1 Queen's Rd
SWIFT Code: HSBCHKHH
SC is considered small-sized in its line with a development history of 5
years. A credit line up to USD 5,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3600 Electronic
& Electric Equip.
Trading 3632 Refrigerators
and freezers, household type, and parts,
Trading 3634 Electro-mechanical
household type appliances, and electro-thermic appliances,
and
parts & accessories,
Trading 3635 Vacuum
cleaners, household type, electric, and parts,
Trading 3639 Household appliances, and parts,
Trading 5064 Electrical
Appliances
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7323 Household
articles & parts, iron & st; ir or steel wool etc
Trading 7323930015 Teakettles
of stainless steel, and parts thereof
Trading 7323940000 Table,
kitchen or other household articles and parts, of iron (not cst) and steel
(not
stainless) enameled
Trading 8418 Refrigerators,
freezers etc; heat pumps, parts
Trading 8418290000 Refrigerators,
household type
Trading 8509 Electromech
domestic appliances; parts
Trading 8509100040 Electric
vacuum cleaners
Trading 8509400015 Food
blenders, domestic
Trading 8509400040 Electric
domestic food grinders and processors
Trading 8516 Elec
water, space & soil heaters; hair etc dry, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Vacuum
cleaners
Trader Water
dispenser
Trader Food processors
Trader Hand
mixers
Trader Juicers
Trader Hairdryers
Trader Flat iron
Trader Kettles
Trader Coffee
makers
Trader Breakfast
makers
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
Importing from
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%)