MIRA
INFORM REPORT
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Report Date : |
22.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAST RISE TRADING CO |
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Registered Office : |
10 Fl Lip Shing Mansion, Block A, 15-19 Carnarvon Rd Tsimshatsui Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.04.1992 |
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Com. Reg. No.: |
15500215-000 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading of Building Materials and Supplies. Sales and Distribution of Purchased Products to Local and
International Markets. |
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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Maximum Credit Limit : |
USD 52242 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
FAST RISE TRADING
CO
10FL LIP SHING MANSION, BLOCK A, 15-19 CARNARVON RD
TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-23671669 FAX:
852-27243251
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 11, 1992
REGISTRATION NO. :
15500215-000
LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE :
MR. RAMESH BAHETY (PARTNER)
STAFF STRENGTH :
3
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 : UP TO
USD 52,242
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80529 = 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 : 15500215-000
Date issued : 11
April, 1992
Issuing authority : Business
Registration Office - Inland Sales Dept
Legal form :
Partnership
Type of license : Business
Name
*Office & Facilities*
================
Other tel no : 27243251
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.
Management: Mr. Ramesh Bahety,
Partner
Mr. Uma Bahety, Partner
Name Nationality
Job Description
Mr. Ramesh Bahety Indian Partner
Mr. Uma Bahety Indian Partner
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Trading of building materials and supplies.
2. Sales and distribution of purchased products to local and
international markets.
Products: Building materials
Building
supplies
Composite
woods
Plastic
semi-finished products
Plastic sheets,
film
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit
(L/C)
Purchases
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Local : Cash or Credit
Import : Letter of Credit
(L/C)
*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 :
56
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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 partnership 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 development history of
16 years. A credit line at the above amount would appear to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2400 Lumber and
Wood Products
Trading 3081 Plastics
film, strips, and sheets, unsupported
Trading 5039 Construction
Materials, NEC
Trading 5200 Building
Materials and Garden
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3900 Plastics
& articles thereof
Trading 4421909400 Manmade/recomosed
wood veneer not exceeding 6 mm in thickness, sliced from a block composed of
wood veneer sheets produced from logs and flitches etc
Trading 6812900025 Building
materials of asbestos fibers
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to India
Exporting to Middle East
Exporting to Nepal
Exporting to United Kingdom
Importing from Asia
Importing from Europe
Importing from India
Importing from Middle East
Importing from Taiwan
Importing from Thailand
Importing from USA
Importing from United Kingdom
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.71 |
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UK Pound |
1 |
Rs.85.11 |
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Euro |
1 |
Rs.67.71 |
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%)