MIRA
INFORM REPORT
|
Report Date : |
27.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RELIANCE TRADES |
|
|
|
|
Registered Office : |
A/4 6 Fl Hankow Centre 47 Peking Rd, Tsimshatsui Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Com. Reg. No.: |
07053042 - 000 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Imports and Local Purchase of Jewelry, Precious Metals, Precious Stones
and Watches. Sales and Distribution of Purchased Products to Local Market. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Name & address
RELIANCE TRADES
A/4 6FL HANKOW CENTRE 47 PEKING RD
TSIMSHATSUI KOWLOON, HONG KONG
TEL: 852-23663063 FAX:
852-23110919
EXECUTIVE SUMMARY
INCORPORATION DATE : N/A
REGISTRATION NO. :
07053042 - 000
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. MOHAN (REPRESENTATIVE)
STAFF STRENGTH :
5
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
BELOW AVERAGE
RECOMM. CREDIT RANGE : C.O.D
TO SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80197 = 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*
===================
At the time of preparing this report, a check on the registry was made, however
the official government documents for the Subject Company is still outstanding.
Should further information be made available, we will then send an
updated report.
SC is not known to host website of its own at present.
E-mail: reliance1@netvigator.com
For the past two years there is no record of litigation.
SC’s ownership background details are not available at present.
Management: Mr. Mohan, Representative
Name Nationality Job Description
Mr. Mohan Hong Kong Representative
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Imports and local purchase of jewelry, precious metals, precious
stones and watches.
2. Sales and distribution of purchased products to local market.
Products: Cut diamonds
Jewelry
Polished
diamonds
Precious
metals
Precious stones
*Payment Terms*
==============
Sales
-------
Local : Cash or credit
Purchases
--------------
Local : Cash or credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
=======================
100% of the annual turnover is attributed to local sales.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 5 OBTAINED SCORES :
34
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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.
As a private 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 and its credit has not been
established yet. Credit dealings with SC are recommended under secured terms at
present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3873 Watches,
clocks, clockwork operated devices, and parts,
Trading 3911 Jewelry, of
precious metal
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds, worked or not, not
mounted or set
Trading 7102100000 Diamonds,
unsorted
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7114200060 Articles
of base metal clad with precious metal
Trading 7116204050 Articles
of precious or semiprecious stones, not jewelry
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Cut
diamonds
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from India
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.79 |
|
UK Pound |
1 |
Rs.85.04 |
|
Euro |
1 |
Rs.67.34 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)