MIRA
INFORM REPORT
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Report Date : |
11.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASPIRE DESIGNS LTD. |
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Registered Office : |
2/F, Tung Wui Commercial Bldg., 27 Prat Avenue,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.7.2001 |
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Com. Reg. No.: |
764229 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of Gems and Jewellery 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/normal. |
Small |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
ASPIRE DESIGNS LTD.
2/F, TUNG WUI COMMERCIAL BLDG.,
27 PRAT AVENUE, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 28151218 / 231715561
FAX : 852 28154505
EXECUTIVE SUMMARY
INCORPORATION DATE : 20-7-2001
REGISTRATION NO. :
764229
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : SHETH APSARA TANSUKH (MANAGING DIRECTOR)
STAFF STRENGTH :
7
AUTHORIZED CAPITAL : 0.5M = 0.5M SHARES @ HKD1.-
PAID-UP CAPITAL : HKD 495,000
BUSINESS LINE :
TRADING OF GEMS & JEWELLERY PRODUCTS
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.82300 = USD1
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
SC is a private limited company registered under incorporation file no.
764229 on 20-7-2001.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 20-7-2006) Number
of shares held
Shah Gunvant Hemchand 165,000
Shah Dhaval Gunvant 165,000
Sheth Apsara Tansukh 165,000
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495,000
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Directors (as at 20-7-2006)
Shah Dhaval Gunvant / R037855(A)
Sheth Apsara Tansukh / P926445(4)
Shah Gunvant Hemchand / Z1109097
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Our current search reveals certain material change or amendment of SC
has been recorded within the last 2 years & noted as follows:
Partial change in SC's directorship as follows:
Name(s) of resigned director(s) Resignation
date
Nil Nil
Name(s) of newly appointed director(s) Appointment
date
Shah Gunvant Hemchand 2-12-2003
Shares allotments on 2-12-2003:
Allottee(s) No.
of share(s)
Shah Gunvant Hemchand 165,000
Shah Dhaval Gunvant 164,999
Sheth Apsara Tansukh 164,999
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 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 :
23-3-2006
Defendant(s) : SC
Plaintiff(s) : Nam Mui Kin Kee Co.Ltd.
Cause of claim : Landlord & Tenants (Possession)
Claimed amount : ANS
Mortgage/charge record(s) : (X) see below ( ) see per attached
Creation date : 14-11-2006
Charger(s) :
SC
Chargee(s) :
Standard Chartered Bank (HK) Ltd.
Secured amount : ANS
Charge particulars : Charge Over Deposits (HKD1.5M)
Creation date : 22-7-2005
Charger(s) :
SC
Chargee(s) :
Industrial & Commercial Bank of China (Asia) Ltd.
Secured amount : ANS
Charge particulars : Mortgage (same as heading business address)
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2001, 2005 &
2006
Year(s) in which mortgage satisfaction record(s) are filed: 2005
Sheth Apsara Tansukh, director:
- She is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: 3/F, Peace Court, 64 Conduit Road,
Mid-Levels West, Hong Kong.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Cheung Woon Yiu
- Date of purchase & consideration : 5-6-2006 / HKD9.5M
- Date of mortgage & secured amount : 5-6-2006 / ANS
- Mortgagee : Standard Chartered Bank (HK) Ltd.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
records 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 :
28-4-2001
Defendant(s) : Sheth Apsara Tansukh T/A Aspire
Gems & Jewellery
Plaintiff(s) : Goldheart Jewelry Ltd.
Cause of claims : Dishonoured cheque
Claimed amount : SGD24,437*
SGD = Singapore dollar
SGD1 = HK$5.06
Shah Dhaval Gunvant, director:
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Sheth.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
records stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
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
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.
Business categories :
SC is engaged in trading of gems & jewellery products.
Items available include diamond jewellery, precious & semi-precious
stones, ruby, sapphire & other related products.
Principal purchases :
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Importers &
distributors
Buying
terms : Credit
of 60 days
Overseas--supplying
countries : India, Middle East & SE
Asia
Buying
terms : L/C, T/T
& credit of 60 days
Principal market :
Local--type
of customers : Manufacturers,
wholesalers & retailers
Selling
terms : COD & credit
of 60 days
Overseas--buying
countries : Russia & USA
Selling
terms : Special
agreed terms
Total number of employees : 7.
Location : Maintaining
its office at the heading business address which occupies a gross area of 2,000
square feet at a commercial building in a commercial & shopping district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
Property ownership : Current land search indicates the ownership details
of the captioned premises as follows:
- Owner(s) : SC
- Date of purchase & consideration : 9-11-2001 / HKD1.47M
- Date of mortgage & secured amount : 22-7-2005 / ANS
- Mortgagee : Industrial & commercial Bank of China (Asia) Ltd.
SC is not known to have any subsidiary at present.
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.
Trade payment
experience : SC did not provide any name of
trade/service suppliers and we have no other
sources to conduct
the enquiry at present.
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.
Banking relations are maintained principally with:
- Industrial & Commercial Bank of China (Asia) Ltd.
- Standard Chartered Bank (HK) Ltd.
Upon a current
contact, Chan Jenny, SC's administrator, declined forwarding any financial
information on the ground that it is the company's policy not releasing any
data to a third party without the benefit of knowing the identity of the
inquiring party.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 20-7-2006 was HKD700,000.
SC is considered small-sized in its line locally with acceptable base to
meet its normal dealings.
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/normal. |
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%)