MIRA
INFORM REPORT
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Report Date : |
15.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
VARSHA INTERNATIONAL |
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Registered Office : |
RM A 15FL Golden Crown Court 66-70 Nathan
Rd Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.05.1988 |
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Com. Reg. No.: |
11821772-000 |
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Legal Form : |
Sole proprietorship |
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Line of Business : |
Trading a Wide Range of Garments and Other Related Products |
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 : |
No Complaints |
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Litigation : |
Clear |
NAME AND ADDRESS OF THE COMPANY
VARSA INT'L
RM A 15FL GOLDEN CROWN COURT
66-70 NATHAN RD TSIMSHATSUI KOWLOON, HONG
KONG.
TEL: 852-27393295 FAX: 852-27392617
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
11, 1988
REGISTRATION NO. :
11821772-000
LEGAL FORM :
SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. NARAIN DURGADAS HARIDASANI (CHAIRMAN)
STAFF STRENGTH :
20
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80283 = 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
*Company Registration*
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License number : 11821772-000
Date issued : 11 May, 1988
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Office & Facilities*
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Other tel no : 91897940
*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.
www.nickhari.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: varsa@netvigator.com
For the past two years there is no record of litigation.
Based on corporate filing regulations for this type of entity in Hong
Kong, there is either, no requirement for Shareholders or no requirement for
public disclosure of Shareholders.
*Key Personnel*
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Narain Durgadas Haridasani
Also known as : Nick
Founder : Sole Founder
HKID no : P0657569
Address : Rm 3-J Star Mansion Minden Row Kowloon
Email : info@nickhari.com
Date of appointment : 11 May,
1988
*Main Products & Services*
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Specializes in trading a wide range of garments and other related
products.
Carries the following brand names:
- Dunhill
- Ferre
- Giani Versace
- Giorgio Armarni
- Zegna
Products: Blouses
Custom tailored
suits
Dresses
Formal wear
Jackets
*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
*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.
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 MODERATE
amounts depending on individual judgement experience.
As a sole proprietorship there is no legal requirement according to
local corporate law for public disclosure of detailed financial.
SC is considered small-sized in its line with a long history. Credit in
the range of moderate amount can be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2300 Apparel/Other
Textile Products
Trading 2321 Men's and
boys' shirts
Trading 2329 Men's and
boys' clothing,
Trading 2335 Women's and
misses' dresses
Trading 2337 Women's and
misses' suits, skirts, and coats
Trading 2389 Apparel and
accessories,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 4203100010 Coats
& jackets (not of reptile leather)
Trading 4203100090 Articles
of apparel
Trading 6100 Articles
of apparel & clothing accessories-knitted or crocheted
Trading 6102 Women's
or girls' overcoats etc, knit or crocheted
Trading 6104520020 Girls'
skirts and divided skirts, knitted or crocheted, of cotton
Trading 6106 Women's
or girls' blouses & shirts, knit or crocheted
Trading 6109 T-shirts,
singlets, tank tops etc, knit or crocheted
Trading 6110 Sweaters,
pullovers, vests etc, knit or crocheted
Trading 6114 Garments,
knitted or crocheted
Trading 6300 Made-up
textile articles; needlecraft sets; worn clothing; rags
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Pants
Trader Overcoats
Trader Top coats
Trader Vest
Trader Dresses
Trader Blouses
Trader Skirts
Trader Custom
tailored suits
Trader Tuxedo
Trader Personal
wardrobe
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Japan
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%)