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MIRA
INFORM REPORT
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Report Date : |
06.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
MARIRA OVERSEAS TRADING (HK) COMPANY |
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Registered Office : |
Room 105, 1/F., Far East Mansion, 5-6 Middle Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
15.10.2007 |
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Com. Reg. No.: |
38515152-000-10 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of Native produce of India. |
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 : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
MARIRA OVERSEAS
TRADING (HK) COMPANY
ADDRESS
Room 105, 1/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available.
FAX: Not available.
MANAGEMENT
Manager: Mr. Mahesh Thaker
SUMMARY
Establishment: 15th October, 2007.
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: Too early to comment.
ADDRESS
Head Office:-
Room 105, 1/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.
Affiliated
Companies:-
Marira Overseas Trading (HK) Ltd., India.
Marira Overseas Trading (HK) Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
38515152-000-10
MANAGEMENT
Manager: Mr. Mahesh Thaker
SOLE PROPRIETOR
Name: Mr. Mahesh THAKER
Residential Address: 51-B,
Kali Temple Road, Flat-1E, Po-Kalighat Kolkata 700026, India.
HISTORY
The subject was established on 15th October, 2007 as a sole proprietorship concern owned by Mr. Mahesh Thaker under the Hong Kong Business Registration Regulations.
At the very beginning, the subject was located at Unit 04, 23/F., Ho King Commercial Centre, 2-16 Fa Yuen Street, Kowloon, Hong Kong, moved to Room 01, 6/F., Cheungs Building, 1-3 Wing Lok Street, Sheung Wan, Hong Kong in July 2008 and further moved to the present address in October 2008.
Apart from these, neither material change nor amendment has
been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Native produce of India.
Employee: 1.
Commodities Imported: India, etc.
Markets: Hong Kong, China and other Asian countries.
Annual Turnover: Too early to obtain figure.
Terms/Sales: COD or as per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Too early to offer an opinion.
Condition: Business is still under development.
Facilities: Trying to make use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Too early to comment.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Marira Overseas Trading (HK) Company is a sole proprietorship set up and owned by Mr. Mahesh Thaker who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently.
The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.
The subject’s new registered address is also the residential address of the sole proprietor, Mr. Thaker, in Hong Kong. The subject has changed its registered address twice.
Business commenced in October 2007, the subject is trading in various kinds of commodities. According to the subject, it is trading in the following commodities:-
Buying: Kraft liner paper, manganese ore, paraffin wax, PP resin, soda ash, sulphur powder, tyres, new automotive battery, socks, etc.
Selling: Jute Hessian, paraffin wax, PVC resin, shellac, slack wax, sugar, urea, Indian tea, etc.
Commodities are chiefly imported from India. Prime markets are Hong Kong, China and other Asian countries. Business is still under development.
According to the subject, it has got “a number of overseas clients and local Indian market”.
The subject’s business is handled by a Hongkongnese Mr. Ivan Chen.
On the whole, since the subject’s history is just over a year and a month in Hong Kong, consider it good for normal business engagements on L/C basis for the time being.
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.49.69 |
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UK Pound |
1 |
Rs.72.96 |
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Euro |
1 |
Rs.63.46 |
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%)