MIRA
INFORM REPORT
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Report Date : |
23.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOODWILL FAR EAST CO |
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Registered Office : |
RM 1107 Peninsula Centre 67
Mody Rd Tsimshatsui East Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.12. 2000 |
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Com. Reg. No.: |
31456135-000 |
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Legal Form : |
Partnership |
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Line of Business : |
Acts as a buying office of any kinds of products required by its
affiliated company situated in Conakry, Guinea |
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 2,500 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name
& address
GOODWILL FAR EAST CO
RM 1107 PENINSULA CENTRE 67 MODY RD
TSIMSHATSUI EAST KOWLOON, HONG KONG
TEL: 852-23120488 FAX: 852-23664790
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 14, 2000
REGISTRATION NO. :
31456135-000
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
3
CAPITAL :
N/A
BUSINESS LINE :
EXPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 2,500
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.79681 = 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*
===================
License Number :
31456135-000
Date of Registration :
14 December, 2000
Issuing Authority :
Business Registration Office - Inland Revenue Dept (BRO)
Legal Form :
Partnership
Primary Business Activity
: Exporter
Key Industry :
Consumer Products
*Office & Facilities*
================
Other tel no. : 23664791
SC is not known to host website of its own at present.
E-mail: goodwill@vinay.com.hk
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.
SC’s management details are not available at present.
*Main Products & Services*
======================
Acts as a buying office of any kinds of products required by its affiliated
company situated in Conakry, Guinea (name of the company was not
disclosed)
Products: Buying agent
Garments
General
merchandise
Textile
products
*Payment Terms*
==============
Sales
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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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There is no record of local sales since the prime focus of the firm's activity
is concentrated on exports only.
*Export Markets*
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100% of the annual turnover is attributed to export to Guinea.
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 partnership company 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 8
years. Taking into consideration of SC’s general performance, a credit line up
to USD 2,500 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2299 Textile
goods,
Exporting 2389 Apparel
and accessories,
Exporting 3999 Manufactured
articles,
Service 7300 Business
Services
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 4203100090 Articles of apparel
Exporting 5911 Textile
products etc. for specific tech uses
Exporting 9600 Miscellaneous
manufactured articles
Service 9960 Export
trading/management company
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region Trading Type
Africa Exporting
Guinea Exporting
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
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%)