MIRA
INFORM REPORT
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Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
M2 TRADING CO |
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Registered Office : |
14-N Lucky House 18-24 Jordan Rd, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.03.2008 |
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Com. Reg. No.: |
39014898-000 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading Radio. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Name & address
M2 TRADING CO
14-N LUCKY HOUSE 18-24 JORDAN RD
KOWLOON, HONG KONG
TEL: 852-91858786 FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 10, 2008
REGISTRATION NO. :
39014898-000
LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE :
MR. MOOSA FAZIL KABEER (DIRECTOR)
STAFF STRENGTH :
2
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
NR
RECOMM. CREDIT RANGE : COD TO
SMALL AMOUNT
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81269 = 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 : 39014898-000
Date issued : 10
March, 2008
Issuing authority : Business
Registration Office - Inland Revenue Dept
Legal form :
Partnership
Type of license : Business
*Office Contact Details*
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Operating Address : 14-N Lucky House 18-24 Jordan Rd
City : Kowloon
Cell : [+852] 91858786
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: N/A
Total number of shares: N/A
Shareholders Country Number Amount %
-------------------- -------------------- ---------- ----------- -----
Mr. Moosa Fazil Kabeer United Arab Emirates n/a n/a n/a
Mr. Syed Ahamed Moosa Sadat United Arab Emirates n/a n/a n/a
*COMPANY DIRECTORS*
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1
Name : Mr. Moosa Fazil Kabeer
Nationality : United Arab Emirates
ID/Passport No. : P27538156
Registered Address : A4A 14Fl United Mansion 37G Jordan Rd, Yaumatei,
Kowloon
Country of Residence : Hong Kong
Date of Appointment : 10 Mar, 2008
2
Name : Mr. Syed Ahamed Moosa Sadat
Nationality : United Arab Emirates
ID/Passport No. : P27538156
Registered Address : 14-N Lucky House 18-24 Jordan Rd, Kowloon
Country of Residence : Hong Kong
Date of Appointment : 10 Mar, 2008
*Main Products & Services*
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Specializes in trading radio.
Products: Radio
*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 : NR OBTAINED SCORES :
No Data
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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.
Since the company was only established three (3) months ago no financials
have been lodged.
SC was established recently in a small size, and its credit has not been
established yet. Credit dealings with SC are recommended under secured terms.
Attached:
trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3651 Radio &
tv receiving sets; phonographs; recorders; microphones; loudspeakers; audio
amplifiers; & oth audio equip
Trading 5064 Electrical
Appliances
HARMONIZED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 8509 Electromech
domestic appliances; parts
Trading 8527310500 Radio
receivers combined with sound recorders or reproducers to be connected to telephonic
or telegraphic apparatus
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Importing from Asia
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%)