MIRA
INFORM REPORT
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Report Date : |
23.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
HOUSE OF JEWELS |
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Registered Office : |
RM 1105-6, 11FL Rise Commercial Centre
5-11 Granville Circuit Granville Rd Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.09.1991 |
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Com. Reg. No.: |
14968056-000 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Local Purchasing of Jewelry Products Mainly Gold Jewelry |
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 and address of the company
HOUSE
OF JEWELS
RM 1105-6, 11FL RISE COMMERCIAL CENTRE
5-11 GRANVILLE CIRCUIT GRANVILLE RD
TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-27224443 FAX: 852-23688963
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 21, 1991
REGISTRATION NO. :
14968056-000
LEGAL FORM :
SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. BHARAT GULAB RAI S. DASWANI (CHAIRMAN)
STAFF STRENGTH :
4
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81182 = 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
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
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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Bharat Gulab Rai S. Daswani
Founder : Sole
Founder
National ID no : K6027342
Address : Rm 7, 9Fl
Deagon House 7-7B Cameron Rd Tsimshatsui Kowloon Hong Kong
Responsibilities : Handles the
overall management of the company
*Main Products & Services*
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Specializes in the following areas of work:
1. Local purchasing of jewelry products mainly gold jewelry.
2. Trading of purchased products to local and export market.
Products: Diamonds
Gold jewelry
Jewelry
*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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Majority 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 : 4 OBTAINED SCORES :
46
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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 sole proprietorship firm 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 long history. Credit
dealings with SC should be confined into small amount at present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry, of
precious metal
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 7113195000 Gold
jewelry, goldsmiths wares and other gold articles
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Japan
Exporting to North America
Exporting to South Korea
Exporting to Taiwan
Exporting to USA
Importing from Asia
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%)