MIRA
INFORM REPORT
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Report Date : |
14.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHAN-NIT TRADING CO |
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Registered Office : |
RM G 15FL Whampoa Garden Oak Mansion -
Block 3 Hunghom Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.02.1999 |
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Com. Reg. No.: |
22277754 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Trading of Jewelry and Diamonds.
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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
CHAN-NIT
TRADING CO
RM G 15FL WHAMPOA GARDEN OAK MANSION
- BLOCK 3 HUNGHOM KOWLOON, HONG KONG
TEL: 852-27236407 FAX: 852-27240519
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 13, 1999
REGISTRATION NO. :
22277754
LEGAL FORM :
SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. NITESH JAGDISHCHAN CHAUHAN (CHAIRMAN)
STAFF STRENGTH :
6
CAPITAL :
US$ 1,280
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80335 = 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
*Office & Facilities*
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Previous Contact Details
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(1)
Address : Rm 5,
10Fl Haiphong Mansion Tsim Sha Tsui Kowloon Hong Kong
(2)
Address : Rm G
25Fl Costa Del Sol - Block 8 Laguna Verde Hunghom Kowloon Hong Kong
*Corporate & Organization Structure*
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A small-sized company operated and managed by the owner.
SC is not known to host website of its own at present.
E-mail: hareshsugenhk@yahoo.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.
Management: Mr. Nitesh Jagdishchan Chauhan, General Manager
Name Nationality
Job Description
Mr. Nitesh Jagdishchan Chauhan Indian
General Manager
*Main Products & Services*
======================
Specializes in trading of jewelry and diamonds.
Products: Diamonds
Jewelry
*Payment Terms*
==============
Sales
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Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash
30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Local Distribution Network*
=======================
50% of the annual turnover is attributed to local sales.
*Export Markets*
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50% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES :
45
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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 there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*BANK DETAILS*
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Bank Name : WING
LUNG BANK LTD
Branch :
Tsimshatsui,Kowloon
Branch Address : Lee
Kar Bldg 4 Carnarvon Rd
SWIFT Code :
WUBAHKHH
SC is considered small-sized in its line with a development
history of 9 years.
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 7102 Diamonds,
worked or not, not mounted or set
Trading 7102100000 Diamonds,
unsorted
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Trading Type
Asia / Pacific Exporting,
Importing
Europe Exporting
Middle-East Exporting
North America Exporting
India Importing
Japan Exporting
USA Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.82 |
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UK Pound |
1 |
Rs.84.89 |
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Euro |
1 |
Rs.68.07 |
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%)