MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAN-CHI INTERNATIONAL LTD. |
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Registered Office : |
Flat Rear Portion, 14/F, Ocean View Court, 25 Chatham Road South,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
5.3.2004 |
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Com. Reg. No.: |
886918 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of 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. |
Small |
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Maximum Credit Limit : |
USD 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
name & address
KAN-CHI
INTERNATIONAL LTD.
FLAT REAR PORTION,
14/F, OCEAN VIEW COURT,
25 CHATHAM ROAD SOUTH, TSIMSHATSUI, KOWLOON,
HONG KONG
TEL: 852 27238004 FAX: 852 27238354 / 27234438
EXECUTIVE SUMMARY
INCORPORATION DATE :
5-3-2004
REGISTRATION NO. :
886918
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. SHAH PANKIL (DIRECTOR)
STAFF STRENGTH :
6
AUTHORIZED
CAPITAL : HK $3.5M = 3.5M
SHARES @ HK $1.-
PAID-UP
CAPITAL : HK $3.5M
BUSINESS LINE :
TRADING OF JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 20,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79268 = USD 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
Note: Your given name "Kan Chi International" was registered
as sole proprietorship by Shah Pankil with BR no. 1404553 on 9-11-1990 &
ceased operation on 1-4-2004.
Through your given tel. no. 852-27238004, we managed to contact Shah
Pankil. He disclosed that Kan Chi
International's business has been taken over by Kan Chi International Ltd. with
registration no. 886918. We believe your search target is this co.
SC's operating address changed heading one from 4/F, Fortune House,
58-60A Granville Rd., Tsimshatsui, Kowloon, HK (as given) on 7-1-2008.
SC is a private limited company registered under incorporation file no.
886918 on 5-3-2004.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 5-3-2008) Number
of shares held
- Shah Pankil 2,800,000
- Shah Priyal Pankil 700,000
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3,500,000
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Director(s) (as at 5-3-2008)
- Shah Pankil / P081051(0)
- Shah Priyal Pankil / P113037(8)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Total number of employees: 6.
Location: Maintaining
its office at the heading business address which occupies a gross area of 1,000
square feet at a commercial & residential building in a commercial
district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
The premise is rented.
Shah Pankil, director:
- In his mid 50's
- He is by Indian nationality
- Embarked upon his career to present field as a small businessman in
his mid 30's
- Formerly as sole proprietor of Kan Chi International
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
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
Shah Priyal Pankil, director:
- In his mid 30's
- He is by Indian nationality
- Embarked upon his career to present field as a junior salesman in his
early 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
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 : 55 (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, Shah Pankil, SC's director, 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.
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 5-3-2008 was nil.
Banking relations are maintained principally with:
- HSBC
- Standard Chartered Bank (HK) Ltd.
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 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 : 29-2-2008
Charger(s) :
SC
Chargee(s) :
Standard Chartered Bank (HK) Ltd.
Secured amount : ANS
Charge particulars : Rental assignment
Creation date : 29-2-2008
Charger(s) :
SC
Chargee(s) :
Standard Chartered Bank (HK) Ltd.
Secured amount : ANS
Charge particulars : Equitable mortgage
Note: In
Hong Kong, documents of mortgages satisfaction (discharge) are not compulsorily
submitted to Companies Registry. Thus,
some of the mentioned mortgages may have been satisfied.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2004, 2006, 2008
Year(s) in which mortgage satisfaction record(s) are filed: Nil
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 trading of jewellery.
Items available include gems, jade & diamond
Principal purchases:
Major
types of sourcing : Jewellery
& accessories
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : Middle East (mainly Israel
& India)
Buying
terms : L/C
& open account of 30 to 60 days
Principal market:
Local--type
of customers : Wholesalers &
retailers
Selling
terms : COD &
credit of 15 to 30 days
Overseas--buying
countries : Nil
Selling
terms : Nil
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. A credit line at the above amount appears beyond SC’s
capacities, while a credit line up to USD 20,000 is recommended
-- 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. |
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%)