MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
VEELAM IMPORT & EXPORT CO LTD |
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Registered Office : |
24FL Qualipak Tower 122 Connaught Rd
Western Dist |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.06.1985 |
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Com. Reg. No.: |
0152502 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Consumer 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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Maximum Credit Limit : |
USD 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
VEELAM
IMPORT & EXPORT CO LTD
24FL QUALIPAK TOWER 122 CONNAUGHT RD
WESTERN DIST, HONG KONG
TEL: 852-25419735 FAX: 852- 25417113
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 7, 1985
REGISTRATION NO. :
0152502
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. ALBERT CHAN (MANAGER)
STAFF STRENGTH :
10
CAPITAL :
US$ 6,402
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 10,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80129 = 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
*OTHER LICENSE*
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License Number : 09779838-000
Issuing Authority : Business Registration Office - Inland Revenue Dept
*Capital Details*
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Share value : HKD
1.00/-each
Authorized capital : HKD 50,000.00
Paid-up capital : HKD 2.00
divided into 2 ordinary shares
*Approved Signatures*
=================
Mr. Chandravadan Gangaram Rathod can sign on behalf of the company with
seal affixed.
*Registrar*
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C K LIU & CO
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: 2
Shareholders Country Number Amount (HKD) %
LAWSTAR MANAGEMENT LTD Hong
Kong 1.00 1.00 50.00
LODESTAR SECRETARIES LTD Hong Kong 1.00 1.00 50.00
*Company Secretary*
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Veena Kumari Rathod
HK ID no. : XD476570(8)
Address : 24Fl Qualipak Tower
122 Connaught Rd Western Dist Hong Kong Hongkong
Management: Mr. Albert Chan, Manager
Name Nationality
Job Description
Mr. Albert Chan Hong
Kong Manager
*COMPANY DIRECTORS*
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1
Name :
Mr. Chandravadan Gangaram Rathod
Nationality :
Indian
ID/Passport No. :
XD103247(5)
Registered Address : 24Fl
Qualipak Tower 122 Connaught Rd ,Western Dist ,Hong Kong ,Western Dist
Country of Residence : Hong
Kong
2
Name :
Mr. Veena Kumari Rathod
Nationality :
Indian
ID/Passport No. :
XD476570(8)
Registered Address : 24Fl
Qualipak Tower 122 Connaught Rd ,Western Dist ,Hong Kong ,Western Dist
Country of Residence : Hong
Kong
*Main Products & Services*
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Specializes in trading wide range of consumer products.
Products: Audio equipment
Batteries
Calculators
Hair care
products
Hair ornaments
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*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 :
53
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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 private limited 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 long development
history. The above credit amount appears to be beyond SC’s capacities, while a
credit line up to USD 10,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2514 Household
metal furniture, nspf
Trading 2678 Stationery
products
Trading 2844 Toilet
preparations
Trading 3171 Women's
handbags and purses
Trading 3423 Hand and
edge tools, except machine tools and hand saws
Trading 3578 Calculating
and accounting machines, and parts,
Trading 3600 Electronic
& Electric Equip.
Trading 3651 Radio &
tv receiving sets; phonographs; recorders; microphones; loudspeakers; audio
amplifiers; & oth audio equip
Trading 3692 Primary
batteries, and parts,
Trading 3911 Jewelry, of
precious metal
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3307 Personal
toilet etc prep, shaving, bath etc.
Trading 3924 Tableware
& other household articles etc, plastics
Trading 4200 Articles of
leather, saddlery & harness, travel goods, handbags, articles of gut
Trading 7113 Articles of
jewelry & parts, of precious metal or clad
Trading 7117 Imitation
jewelry
Trading 8205 Handtools;
blow torches etc; anvils etc
Trading 8301 Padlocks,
locks & keys & parts, of base metal
Trading 8470 Calculating
& account machines, cash registers etc
Trading 8506 Primary
cells & batteries, parts
Trading 8542 Electronic
integrated circuits & microassembl, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Imitation
jewelry
Trader Locks
Trader Hand
tools
Trader Metal
household products
Trader Audio
equipment
Trader Handbags
Trader Plastic
household products
Trader Staple
removers
Trader Hair care
products
Trader Stationery
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Trading Activity
Europe Exporting,Importing
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%)