MIRA
INFORM REPORT
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Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
BELMOND |
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Registered Office : |
Flat A5, 7/F., Hankow Centre, 44 Peking Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.11.2004 |
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Com. Reg. No.: |
35119579-000-11 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of Diamonds and
Jewellery, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
BELMOND
ADDRESS
Flat A5, 7/F., Hankow Centre, 44 Peking Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2366 5075
FAX: 2366 2227
[Your enquiry given as: BELMOND (H K) of the same address.]
MANAGEMENT
Manager: Mr. Mohamed Hanifa Mohamed Farock
SUMMARY
Establishment: 10th November, 2004.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employee: 1.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
ADDRESS
Head Office:-
Flat A5, 7/F., Hankow Centre, 44 Peking Road, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
35119579-000-11
MANAGEMENT
Manager: Mr. Mohamed Hanifa Mohamed Farock
SOLE PROPRIETOR
Name: Mr. Mohamed Hanifa MOHAMED FAROCK
Residential Address: Flat
A, 4/F., 47 Haiphong Road, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was established on 10th November, 2004 as a sole proprietorship concern owned by Mr. Mohamed Hanifa Mohamed Farock under the Hong Kong Business Registration Regulations.
Formerly the subject was located at Flat A, 4/F., 47 Haiphong Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in recent years.
Apart from these, neither material change nor amendment has
been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Diamonds and Jewellery, etc.
Employee: 1.
Commodities Imported: India, other European countries.
Markets: Asian countries, the Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Kept a balance account in 2007.
Condition: Business is fairly active.
Facilities: Making fairly active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Belmond is a sole proprietorship set up on and owned by Mr. Mohamed Hanifa Mohamed Farock who is an Indian.
Mr. Mohamed Farock is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. Formerly the subject’s operating office is located at the residential address of the sole proprietor.
The subject is engaged in remittance business and acting as an agent for certain kinds of commodities, including diamonds and jewellery.
Diamonds and jewellery are imported from India and other European countries. Commodities are wholesaled in Hong Kong and re-exported to the other Asian countries. Business is not very active.
The subject has got one or two employees who seemed to be Mr. Mohamed Farock’s family member.
The subject kept a balance account in 2007.
Being a small trading agent, the subject is considered good for business engagements on L/C basis.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.90 |
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UK Pound |
1 |
Rs.74.30 |
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Euro |
1 |
Rs.63.42 |
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%)