MIRA
INFORM REPORT
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Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SOLAR EXPORTS LTD |
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Registered Office : |
15 Fl, Kowloon Centre , 29-39 Ashley Rd Kowloon, Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.11.1992 |
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Com. Reg. No.: |
0388460 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer of Oak Veneer, Home Furniture and Other Related Products. Sales and Distribution of Manufactured Products to Local and Export
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 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
SOLAR EXPORTS LTD
15FL KOWLOON CENTRE
29-39 ASHLEY RD KOWLOON, HONG KONG
TEL: 852-27300678 FAX: 852-23148992
EXECUTIVE SUMMARY
INCORPORATION DATE : NOVEMBER
5, 1992
REGISTRATION NO. :
0388460
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. DEEPAK DHARMVEER MADNANI (MANAGING DIRECTOR)
STAFF STRENGTH :
50
CAPITAL :
US$ 128,535
BUSINESS LINE : MANUFACTURER
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 7.80681 = 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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(1)
License number : 0388460
Date issued : 5
November, 1992
Issuing authority : Companies
Registry
Legal form : Private
limited company
Type of license : Corporate
(2)
License number : 16346935-000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Capital Details*
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Authorized capital : HKD 1,000,000.00 divided into 1,000,000 ordinary
shares at HKD 1.00/-each, fully paid.
*Approved Signatures*
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Only Mr. Notan Hassanand Tolani can sign on behalf of the company with
seal affixed.
www.solarexports.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: exports@solartimeltd.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders
: 2
Total number ordinary of shares
: 1,000,000
Shareholders' Name
No. of Ordinary Shares
Amount of Shares (HKD) % of
Shares
--------------------------- ------------------------------- ----------------------------- ----------------
SOLAR TIME LTD
520,000 520,000.00 52.00
Deepak Dharmveer Madnani
480,000 480,000.00 48.00
Share transfer
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Date No. of
Ordinary Share
Transferror(s)
Transferee(s)
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28 May, 2005 479,970 SOLAR TIME LTD Deepak Dharmveer Madnani
28 May, 2005
30 Notan Hassanand Tolani Deepak Dharmveer Madnani
*Company Secretary*
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Notan Hassanand Tolani
National ID number :
XD001225(A)
Address :
11Fl Ocean View Court 21 Chatham Rd, Kowloon Hong Kong
Date of Appointment : 11 December, 2007
Management: Mr. Deepak Dharmveer Madnani, Managing Director
Name Nationality
Job Description
Mr. Deepak Dharmveer Madnani Hong
Kong Managing Director
*Main Products & Services*
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Specializes in the following areas of work:
1. Manufacture oak veneer, home furniture and other related products.
2. Sales and distribution of manufactured products to local and export
markets.
Products: Buying agent
Consumer
products
Home furniture
Oak veneer
Product
development
*Brand*
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SOLAR
*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 :
50
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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 medium-sized in its line with a development history of
16 years. A credit line at the above amount appears 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
Manufacturing 2435 Hardwood
veneer and plywood
Manufacturing 3999 Manufactured
articles,
Service 7389 Business
Svcs, NEC
Service 8741 Management
Services
Trading 2435 Hardwood veneer and plywood
Trading 3999 Manufactured articles,
HARMONIZED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 4408900092 Other
oak veneer sheets and sheets for plywood and other wood sawn lengthwise, sliced
or peeled, thickness not over 6 mm, reinforced or backed
Manufacturing 9403 Furniture
and parts thereof
Manufacturing 9403806040 Household
furniture of other materials
Manufacturing 9600 Miscellaneous
manufactured articles
Service 9874 Management
services
Trading 4408900092 Other oak veneer sheets and sheets for
plywood and other wood sawn lengthwise, sliced or peeled, thickness not over 6
mm, reinforced or backed
Trading 9403 Furniture
and parts thereof
Trading 9403806040 Household
furniture of other materials
Trading 9600 Miscellaneous
manufactured articles
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Service Product
development
Service Production
management
Trader Home furniture
Trader Consumer
products
Trader Oak
veneer
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Chile
Exporting to Europe
Exporting to India
Exporting to Italy
Exporting to Malaysia
Exporting to North America
Exporting to Poland
Exporting to Spain
Exporting to Switzerland
Exporting to USA
Exporting to United Kingdom
Importing from Asia
Importing from Europe
Importing from India
Importing from North America
Importing from USA
Importing from United Kingdom
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%)