MIRA
INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GLITTER SUCCESS LTD |
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Registered Office : |
RM 1401, 14FL Hart Ave Plaza 5-9 Hart Ave Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.07.1989 |
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Com. Reg. No.: |
0257798 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Jewelry 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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
GLITTER
SUCCESS LTD
RM 1401, 14FL HART AVE PLAZA
5-9 HART AVE TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-23119123 FAX: 852-23670403
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 11, 1989
REGISTRATION NO. :
0257798
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. AMIT MAHENDRA KUMAR SHAH (DIRECTOR)
STAFF STRENGTH :
6
CAPITAL :
US$ 1,920,615
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80129 = 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
*OTHER LICENSE*
================
License Number : 13202015-000
Issuing Authority : Business Registration Office - Inland Revenue Dept
*Company Registration*
==================
License Number :
0257798
Date of Registration :
11 July, 1989
Issuing Authority :
Companies Registry (CR)
Legal Form :
Private company with limited liability
Primary Business Activity :
Trader
Key Industry :
Giftware & Jewellery
*Capital Details*
=============
Nominal capital : HKD 15,000,000.00 divided into 15,000,000 ordinary
shares at HKD 1.00/-each, fully paid
SC is not known to host website of its own at present.
E-mail: amitgsl@hotmail.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: 15,000,000
Shareholders Country
Number Amount (HKD) %
Mr. Champaklal Manilal Shah India 10,000,000.00
10,000,000.00 66.67
Mr. Amit Mahendra Kumar Shah India 5,000,000.00 5,000,000.00 33.33
*Company Secretary*
=================
Amit Mahendra Kumar Shah
Identification :
P017974(8), National ID No
Address :
6Fl Kimberly Mansion 15 Austin Ave - Block C Tsimshatsui Kowloon Hongkong
*COMPANY DIRECTORS*
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1
Name :
Mr. Amit Mahendra Kumar Shah
Nationality :
Indian
ID/Passport No. :
P017974(8)
Registered Address : 6Fl Kimberly
Mansion 15 Austin Ave Block C ,Tsimshatsui ,Kowloon ,Tsimshatsui
Country of Residence : Hong
Kong
2
Name :
Mr. Champaklal Manilal Shah
Nationality :
Indian
Registered Address : 3Fl,
2-14-29 Saigal Mansion ,Chuo-ku ,Kobe-shi ,Chuo-ku 6508680
Country of Residence : Japan
3
Name : Mr. Mona Amit Shah
Nationality : Indian
*Main Products & Services*
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Engaged in trading wide range of jewelry products.
Products: Colored precious stones
Diamonds
Diamonds polished
& rough
Natural pearls
*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)
*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.
*International Exhibition Participation*
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Exhibition fair : 2007
Shenzhen Int'l Jewellery Fair
Dates attended : 19 March, 2008
Location : Shenzhen,
China
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
53
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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 private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a development history of
19 years.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3961 Jewelry of
materials other than solid gold, platinum & silver
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7116201000 Jewelry
of precious or semiprecious stones
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
North America Exporting
China Exporting
India Importing
USA Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.32 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.65.96 |
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%)