MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ORIENT RESOURCES
COMPANY O/B CHINA BUSINESS LTD. |
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Registered Office : |
5/F, Qualipad Tower, 122 Connaught Road West |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.9.1991 |
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Com. Reg. No.: |
326915 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and Trading of Food Products. |
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
ORIENT RESOURCES COMPANY O/B CHINA BUSINESS LTD.
5/F, QUALIPAD TOWER, 122 CONNAUGHT ROAD
WEST, HONG KONG.
TEL: 852
25172316 FAX: 852
25178741
EXECUTIVE SUMMARY
INCORPORATION DATE :
24-9-1991
REGISTRATION NO. :
326915
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : DATTANI NILESH GOPALDAS (DIRECTOR)
STAFF STRENGTH :
6
AUTHORIZED CAPITAL : HK $1M = 1M SHARES @ HK $1.-
PAID-UP
CAPITAL :
HK $1M
BUSINESS LINE :
MANUFACTURING & TRADING OF FOOD PRODUCTS
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80162 = USD 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
SC is a private limited company registered under incorporation file no.
326915 on 24-9-1991.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 24-9-2007) Number
of shares held
- Dattani Nilesh Gopaldas 999,999
- Dattani Rashmi Nilesh 1
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1,000,000
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Director(s) (as at 24-9-2007)
- Dattani Nilesh Gopaldas / P181120(0)
- Dattani Rashmi Nilesh / P201253(0)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
SC's registered office address:
Unit 3, 20/F, Golden Centre, 188 Des Voeux Road Central, HK.
SC also maintains a trade name:
China Plastic Enterprises Co.
Total number of employees: 6.
Location: Maintaining
its office at the heading business address which occupies a gross area of 500
square feet at a commercial building in a commercial & residential
district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
Property ownership : Current land search indicates the ownership details
of the heading premises as follows:
- Owner(s) : Dattani Nilesh Gopaldas&Dattani Rasmi Nilesh(SC's
directors)
- Date of purchase / consideration : 4-9-2006 / HK $3,050,000
- Date of mortgage / secured amount : 4-9-2006 / ANS
- Mortgagee : Fubon Bank (HK) Ltd.
Dattani Nilesh Gopaldas, director:
- In his mid 50's
- He is by Indian natinality
- He has over 15 years of exprience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Dattani Rashmi Nilesh, director:
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
Credit history
check : This refers to a check of our database
whether the said person has been involved in any of the following records
stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 3 Obtained scores : 60 (see explanatory notes below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors
which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
Upon a current contact, Mr. Cheng, SC's administrator, declined
forwarding any financial information on the ground that it is the company's
policy not releasing any data to a third party without the benefit of knowing
the identity of the inquiring party.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 24-9-2007 was NA.
Banking relations are maintained principally with: HSBC.
This section will contain the civil litigations & winding-up
petitions filed against SC for the last 6 years (as stored in our database),
and the mortgage/charge records filed by SC for the last 2 years. In Hong Kong, creation of such mortgages/charges
by an unlimited co is not required to be registered in the public records.
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : None filed within the last 2 years as per
our current search.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1992, 1994, 1995,
2001
Year(s) in which mortgage satisfaction record(s) are filed: 1995
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair (
) Poor ( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment records and our debt collection record concerning SC.
Trade payment
experience: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
Delinquent
payment record: None in our database.
Debt
collection record: No overdue amount owed by SC
was placed to us for collection within the last 6 years.
Business categories:
SC is engaged in manufacturing & trading of food products.
Items available include spice (e.g. chilies, ginger, cloves, etc.),
dehydrated vegetables (e.g. onion, carrot, etc.), nuts (e.g. peanuts, pine
nuts, etc.) & specialty ingredients (sugar candy, hibiscus, vanillin,
etc.).
SC was awarded ISO 9001: 2000
Production is assigned to its affiliated factory/joint venture factory
located at Guangdong Province, PR China.
A portion is sold under its own brand(s) "Regency".
Principal purchases:
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : PR China, SE Asia &
India
Buying
terms : L/C
& T/T
Principal market:
Local--type
of customers : Wholesalers &
dealers
Selling
terms : COD
Overseas--buying
countries : SE Asia, USA & Europe
Selling
terms : L/C &
T/T
SC is not known to have any subsidiary at present.
SC is considered a normally advancing concern with steady customers and
acceptable base to meet its trade engagements.
Credit in the range of small amount can be considered.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.16 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.95 |
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%)