MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
IN COLLECTION |
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Registered Office : |
Flat 901, 9/F,
Harbour Centre, Tower 2, 8 Hok Cheung St., Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.6.2001 |
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Com. Reg. No.: |
31944936 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Supply and Import of Diamonds and Jades. |
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 |
name & address
IN
COLLECTION
FLAT 901, 9/F,
HARBOUR CENTRE, TOWER 2, 8 HOK CHEUNG ST.,
HUNGHOM, KOWLOON, HONG KONG
TEL: 852 23113011
/ 31632289 FAX: 852 23111167
EXECUTIVE SUMMARY
INCORPORATION DATE :
23-6-2001
REGISTRATION NO. :
31944936
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE : MR. SHAH KAMLESH JIVANBHAI (SOLE PROPRIETOR)
STAFF STRENGTH :
10
AUTHORIZED CAPITAL : N/A [IN HK, UNLIMITED COS. ARE NOT REQUIRED TO FILE
ITS
CAPITAL PARTICULARS TO BR OFFICE
(THE INLAND REVENUE)]
PAID-UP
CAPITAL : NOT
APPLICABLE
BUSINESS LINE :
IMPORT & SUPPLY OF DIAMONDS AND JADES
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 7.80480 = 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
Your given Fax no. is incomplete.
SC was established under Business Registration number 31944936 on
23-6-2001 with present status as sole proprietorship.
Currently obtained BR copy indicates the particulars of SC's
principal(s) are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered
address
- Shah Kamlesh Jivanbhai / K9789227 Flat A, 11/F,
Tower 2,
Harbourfront
Landmark,
11
Wan Hoi St., Hunghom,
Kowloon,
HK.
Total number of employees: 10.
Location: Maintaining
its office at the heading business address which occupies a gross area of 1,800
square feet at a commercial building in a commercial 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): Shah Kamlesh Jivanbhai (SC's sole proprietor)
- Date of purchase / consideration: 13-12-2004 / HK $5,583,000
- Date of mortgage / secured amount: 17-8-2007 / ANS
- Mortgagee: Bank of India
Shah Kamlesh Jivanbhai, sole proprietor:
- In his early 50's
- He has 10 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: As stated above.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s): Shah Kamlesh Jivanbhai (SC's sole proprietor)
- Date of purchase / consideration: 15-7-2006 / HK $18M
- Date of mortgage / secured amount: 15-7-2006 / ANS
- Mortgagee: Bank of Communications Co. Ltd.
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:
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
Civil
litigations : (X) see below ( ) see per
attached
Date :
27-10-2003 / 20-8-2003
Defendant(s) : Shah Kamlesh Jivanbhai + Shah
Vaishali Kamlesh
Plaintiff(s) : The Incorporated Owners of
Hilton Towers
Cause of claims : Renovation contribution
Claimed amount : ANS
Ownership background appraisal:
Rating : 2 Obtained scores : 65 (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.
During our report preparation, the principals could not be contacted
while the staff members hesitated to release financial information without the
principals' consent.
Banking relations are maintained principally with:
- Bank of India
- Bank of China (HK) Ltd.
- Bank of Communications Co. Ltd.
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: (X) see below ( ) see attached sheet
Date :
28-4-2003
Defendant(s) : Yeung Sap Yung t/a SC
Plaintiff(s) : Manson Investment Finance Co.
Ltd.
Cause of claim : Possession
Claimed amount : ANS
Mortgage/charge record(s) : In HK, unlimited companies are not required
to file its charge particulars for public inspection.
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.
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 supply & import of diamonds and jades.
Items available include marquise, pear, baguette, taper, fancy cut
diamond & jade.
Principal purchases:
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India, Belgium, S. Africa,
Pakistan & other Asian countries
Buying
terms : L/C
& special agreed terms
Principal market:
Local--type
of customers : Retailers &
exporters
Selling
terms : COD &
credit of 7 to 30 days
Overseas--buying
countries : PR China (mainly), The
Philippines, USA, Canada, Middle East & Australia & Europe
Selling
terms : L/C &
special agreed terms
SC is not known to have any subsidiary at present.
SC is considered small-sized in its line locally with acceptable base to
meet its normal dealings. Credit in the
range of small amount may 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.42.54 |
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UK Pound |
1 |
Rs.84.86 |
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Euro |
1 |
Rs.66.95 |
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%)