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MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
FLAWLESS (HK) CO |
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Registered Office : |
RM 808, 8 Fl Hart Ave Plaza 5-9 Hart Ave, Tsimshatsui Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.06.2005 |
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Com. Reg. No.: |
35695197-000 |
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Legal Form : |
Partnership |
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Line of Business : |
Trader of 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 & address
FLAWLESS (HK) CO.
RM 808, 8FL HART AVE PLAZA 5-9 HART AVE
TSIMSHATSUI KOWLOON, HONG KONG
TEL: 852-27390444
FAX: 852-23684939
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 6, 2005
REGISTRATION NO. :
35695197-000
LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE :
MR. JAIN (REPRESENTATIVE)
STAFF STRENGTH :
5
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
BELOW AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
TO SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79397= 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
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*Company Registration*
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License number : 35695197-000
Date issued : 6 June,
2005
Issuing authority : Business
Registration Office - Inland Sale Dept
Type of license :
Business
*Reputation*
==========
Unable to locate any points of reference within the industry due to the
relatively small nature of the company.
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SC is not known to host website of its own at present.
E-mail: flawlesshk@flawlesscompany.com
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For the past two years there is no record of litigation.
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*Major Shareholders*
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Total number of shareholders: N/A
Total number of shares: N/A
Shareholders Country
Number Amount %
------------------ ---------- ---------- ---------- -----
Mr. Poonam Chand Kothari Thailand n/a n/a n/a
Mr. Sunil Kothari Thailand n/a
n/a n/a
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Management: Mr. Jain, Representative
Name Nationality Job Description
Mr. Jain Thai Representative
*COMPANY DIRECTORS*
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1
Name : Mr. Poonam Chand Kothari
Nationality : Thailand
Registered Address : CD-8 Tower 1867/59-60 Thirdos City Marina Condo
Charoennakorn Rd
Country of Residence : Thailand
Date of Appointment : 6 Jun, 2005
2
Name : Mr. Sunil Kothari
Nationality : Thailand
Registered Address : CD-8 Tower 1867/59-60 Thirdos City Marina Condo
Charoennakorn Rd
Country of Residence : Thailand
Date of Appointment : 6 Jun, 2005
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*Main Products & Services*
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Specializes in trading a wide range of jewelry.
Products: Jewelry
*Payment Terms*
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Sales
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Local : Cash or Credit
Purchases
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Local : Cash or Credit
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*International Trade Activity*
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There is no record of exports or imports, since the prime focus of the
firm's activity is concentrated on the local sales and purchases only.
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SC is not known to have any subsidiary at
present.
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PAYMENT RATING : 5 OBTAINED SCORES :
33
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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.
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As a partnership firm there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
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SC was established recently in 2005, and its credit has not been
established yet. Credit dealings with SC are recommended under secured terms at
present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry, of
precious metal
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7113200000 Jewelry
and parts, base metal clad w precious metal
Trading 7116201000 Jewelry
of precious or semiprecious stones
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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%)