MIRA
INFORM REPORT
|
Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RUKMA INDUSTRIES LTD |
|
|
|
|
Registered Office : |
Units A-D 3FL Chatham Plaza 8-10 Hart Ave Tsimshatsui Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
30.05. 1989 |
|
|
|
|
Com. Reg. No.: |
0253765 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importing wide range of Men's and Boy's Clothing Sales and Distribution of Imported Products to Local and International Markets. |
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 |
|
Maximum Credit Limit : |
USD 5,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Exists |
name & address
RUKMA
INDUSTRIES LTD
UNITS A-D 3FL CHATHAM PLAZA
8-10 HART AVE TSIMSHATSUI KOWLOON, HONG KONG
TEL: 852-23698347 FAX: 852-23690390
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
30, 1989
REGISTRATION NO. :
0253765
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. MOHANLAL SHAMDAS NAVALANI (MANAGING DIRECTOR)
STAFF STRENGTH :
18
CAPITAL :
US$ 12,853
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 5,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : FAIR
EXCHANGE RATE :
HKD 7.79241 = 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*
==================
(1)
License number : 0253765
Date issued : 30 May, 1989
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 12842084-000
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Capital Details*
=============
Share value : HKD 1.00/-each
Authorized capital : HKD
100,000.00
Paid-up capital : HKD 2.00 divided into 2 ordinary
shares
*Office & Facilities*
================
Other tel no. : 23698448
*Approved Signatures*
==================
Mr. Pritam Kumar Navalani can sign on behalf of the company with seal
affixed.
*Registrar*
=========
DMW MANAGEMENT CONSULTANTS LTD
SC is not known to host website of its own at present.
E-mail: rukma@rukma.corp.com.hk
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Case Issue : A petition to the Court seeking a charging order (filed
under case no. DCMP3372/2001).
Court : District Court, Hong Kong
Date Commenced : 9 November, 2001
Status : Not stated
Litigation ( 2 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong FLYNT
SHIPPING LTD
Case Issue : A petition to the Court claiming unpaid service charge
(filed under case no. SCTC39150/2002).
Court : District Court, Hong Kong
Date Commenced : 16 August, 2002
Status : Not stated
Litigation ( 3 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong T M HO H C
SO & CO
Plaintiff Hong Kong T M HO H C SO
& CO
Plaintiff Hong Kong T M HO H C
SO & CO
Case Issue : A petition to the Court claiming overdue payment amounting
to HKD 98,400.00 for services rendered (filed under case no. DCCJ6314/2002).
Court : District Court, Hong Kong
Date Commenced : 10 October, 2002
Status : Not stated
Litigation ( 4 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Case Issue : Others (filed under case no. SCTC56158/2002)
Court : District Court, Hong Kong
Date Commenced : 16 October, 2002
Status : Not stated
Litigation ( 5 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Case Issue : A petition to the Court seeking a charging order (filed
under case no. DCMP1514/2003).
Court : District Court, Hong Kong
Date Commenced : 15 May, 2003
Status : Not stated
Litigation ( 6 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Case Issue : A petition to the Court to rule over a dispute on rates
(filed under case no. SCTC38800/2003).
Court : District Court, Hong Kong
Date Commenced : 19 June, 2003
Status : Not stated
Litigation ( 7 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Case Issue : A petition to the Court to rule over a dispute on rates
(filed under case no. SCTC105201/2003).
Court : District Court, Hong Kong
Date Commenced : 15 January, 2004
Status : Not stated
Litigation ( 8 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong MAXEARN LTD
Plaintiff Hong Kong MAXEARN LTD
Plaintiff Hong Kong MAXEARN LTD
Case Issue : A petition to the Court claiming a refund (filed under case
no. SCTC63590/2004).
Court : District Court, Hong Kong
Date Commenced : 27 October, 2004
Status : Not stated
Litigation ( 9 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong COMMISSIONER
OF INLAND REVENUE
Plaintiff Hong Kong COMMISSIONER
OF INLAND REVENUE
Plaintiff Hong Kong COMMISSIONER
OF INLAND REVENUE
Case Issue : A petition to the Court claiming unpaid profit taxes
amounting to HKD 8,435.00 (filed under case no. DCCJ1586/93).
Court : District Court, Hong Kong
Date Commenced : 29 January, 1993
Status : Not stated
Litigation ( 10 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong COMMISSIONER
OF INLAND REVENUE
Plaintiff Hong Kong COMMISSIONER
OF INLAND REVENUE
Plaintiff Hong Kong COMMISSIONER
OF INLAND REVENUE
Case Issue : A petition to the Court claiming unpaid profit taxes
amounting to HKD 70,350.00 (filed under case no. DCCJ1937/93).
Court : District Court, Hong Kong
Date Commenced : 25 November, 1993
Status : Not stated
Litigation ( 11 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong DORMIND LTD
Plaintiff Hong Kong DORMIND LTD
Plaintiff Hong Kong DORMIND LTD
Case Issue : A petition to the Court claiming overdue payment on rent
amounting to HKD 27,600.00 (filed under case no. DCDT4634/97).
Court : District Court, Hong Kong
Date Commenced : 13 August, 1997
Status : Not stated
Litigation ( 12 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong DORMIND LTD
Plaintiff Hong Kong DORMIND LTD
Plaintiff Hong Kong DORMIND LTD
Case Issue : A petition to the Court claiming overdue payment on rent
amounting to HKD 36,800.00 (filed under case no. DCDT4635/97).
Court : District Court, Hong Kong
Date Commenced : 13 August, 1997
Status : Not stated
Litigation ( 13 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong CITY TELECOM
(HK) LTD
Case Issue : A petition to the Court claiming overdue payment of
undisclosed amount for services rendered (filed under case no. SCTC7748/2000).
Court : District Court, Hong Kong
Date Commenced : 28 March, 2000
Status : Not stated
Litigation ( 14 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Defendant Hong Kong RUKMA LTD
Plaintiff Hong Kong LIU CHONG
HING BANK LTD
Defendant Hong Kong RUKMA LTD
Defendant Hong Kong RUKMA LTD
Case Issue : A petition to the Court claiming overdue payment on
mortgage of undisclosed amount (filed under case no. HCMP2158/2001).
Court : High Court, Hong Kong
Date Commenced : 19 April, 2001
Status : Not stated
Litigation ( 15 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Plaintiff Hong Kong SECRETARY OF
JUSTICE
Case Issue : A petition to the Court to rule over a dispute on rates
(filed under case no. SCTC10939/2001).
Court : District Court, Hong Kong
Date Commenced : 4 May, 2001
Status : Not stated
Litigation ( 16 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SECRETARY
FOR JUSTICE
Plaintiff Hong Kong SECRETARY
FOR JUSTICE
Plaintiff Hong Kong SECRETARY
FOR JUSTICE
Case Issue : A petition to the Court to rule over a dispute on rates
(filed under case no. SCTC43108/2001).
Court : District Court, Hong Kong
Date Commenced : 7 November, 2001
Status : Not stated
*Major Shareholders*
================
Total number of shareholders: 2
Total number of shares: 2
Shareholders Country Number Amount (HKD) %
---------------- ---------- ---------- ------------------ -------
Mr. Lachmi India
1.00 1.00 50.00
Mr. Cheung-ha Choi Hong Kong 1.00 1.00 50.00
*Company Secretary*
================
Mohanlal Shamdas Navalani
National ID no. : XE451706(5)
Address : Flat E
16Fl, 29 Chatham Rd South, Kowloon, Hong Kong
Management: Mr. Mohanlal Shamdas Navalani, Managing Director
Name Nationality
Job Description
Mr. Mohanlal Shamdas Navalani Indian
Managing Director
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Lachmi
Nationality : India
ID/Passport No. : R561502
Registered Address : 757 Ashok Chowk
Country of Residence : India
2
Name : Mr. Cheung-ha Choi
Nationality : Hong Kong
ID/Passport No. : E361265(2)
Registered Address : 4Fl, 30A Tung Choi St
Country of Residence : Hong Kong
3
Name : Mr. Mohanlal Shamdas Navalani
Nationality : India
ID/Passport No. : XG468191(A)
Registered Address : Flat E 16Fl, 29 Chatham Rd South, Kowloon
Country of Residence : Hong Kong
4
Name : Mr. Pritam Kumar Navalani
Nationality : India
ID/Passport No. : XG468191(A)
Registered Address : Flat E 16Fl Windsor Mansion 29 Chatham Rd,
Tsimshatsui, Hong Kong
Country of Residence : Hong Kong
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Importing wide range of men's and boy's clothing.
2. Sales and distribution of imported products to local and
international markets.
Products: Boys' clothes
Men's clothing
Men's garments
Men's shirts
*Payment Terms*
=============
Sales
-------
Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Imports*
========
100% of the products are imported from China.
*Local Distribution Network*
======================
20% of the annual turnover is attributed to local sales.
*Export Markets*
=============
80% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES :
48
|
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.
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 history. The
numerous litigation cases could be a threat to its reputation. A credit line up
to USD 5,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2300 Apparel/Other
Textile Products
Trading 2329 Men's and
boys' clothing,
Trading 2389 Apparel and
accessories,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 6100 Articles of
apparel & clothing accessories-knitted or crocheted
Trading 6114 Garments,
knitted or crocheted
Trading 6200 Articles of
apparel & clothing accessories-not knitted or crocheted
Trading 6217 Made-up
clothing access, garment etc parts
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Argentina
Exporting to Asia
Exporting to Europe
Exporting to North America
Exporting to Panama
Exporting to South America
Exporting to USA
Importing from Asia
Importing from China
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%)