MIRA
INFORM REPORT
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Report Date : |
07.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SINO STAR TRADING CO. |
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Registered Office : |
C/O Rm A, 8/F, Kam Chung Commercial Building, 19-21 Hennessy Road,
Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.3.2003 |
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Com. Reg. No.: |
33419816 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading of Consumer Electronic 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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
SINO
STAR TRADING CO.
C/O RM A, 8/F, KAM
CHUNG COMMERCIAL BUILDING,
19-21 HENNESSY ROAD, WANCHAI, HONG KONG
(CORRESPONDENCE OFFICE)
TEL: 852 69138007/86
755 82147166 FAX: 86 755
8214 7177
EXECUTIVE SUMMARY
INCORPORATION DATE :
11-3-2003
REGISTRATION NO. :
33419816
REGISTERED LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE : MR. KHULLAR VINOD VIJAY (PARTNER)
STAFF STRENGTH :
NONE IN HK
AUTHORIZED CAPITAL : N/A
[IN HK, UNLIMITED COS. ARE NOT REQUIRED TO FILE ITS CAPITAL PARTICULARS TO BR
OFFICE (THE INLAND REVENUE)]
PAID-UP
CAPITAL : NOT
APPLICABLE
BUSINESS LINE :
TRADING OF CONSUMER ELECTRONIC PRODUCTS
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79413 = USD 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
Repeated calls to your given tel. no. (852-2528 2930 and 852-2528 2931)
have no answered.
Calls made to the heading tel. no. (852-6913 8007) had been transferred
to SC's Shenzhen representative office.
SC was established under Business Registration number 33419816 on
11-3-2003 with present status as partnership.
Currently obtained BR copy indicates the particulars of SC's
principal(s) are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered
address
- Khullar Vinod Vijay / A9154313 c/o Mr
Avi, Flat 13E, Green Courts
Discovery
Bay, Hong Kong
- Duyuying / G04954879 -- ditto --
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Nil
Name(s) of retired partner(s) Leaving
date
Trived'l Jayantkumar I 15-10-2007
Total number of employees: None in HK.
The said premise is mainly occupied by CBS Pacific Ltd., which is a
company providing secretarial services.
Location: Maintaining its correspondence office at
the heading business address which occupies a gross area of 600 square feet at
a commercial building in a commercial district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
The premise is rented.
Khullar Vinod Vijay, partner & co-founder:
- In his mid 40's
- He is by Indian nationality
- He has 5 years working experiences in the present field
Currently residing in PR China & only visits Hong Kong for business
occasionally.
Currently stationing in India.
Registered residential address: C/O Mr Avi, Flat 13E, Green Courts
Discovery Bay, HK.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
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
Du Yu Ying, partner & co-founder:
- In his early 50's
- Embarked upon his career to present field as a small businessman in
his mid 40's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Khullar Vinod Vijay..
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 :
6-8-2007
Defendant(s) : Du Yu Ying
Plaintiff(s) : Commissioner of Inland Revenue
Cause of claims : Tax
Claimed amount : $3,465
Ownership background appraisal:
Rating : 3 Obtained scores : 50 (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.
Upon a current contact, Khullar Vinod Vijay, SC's partner, 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.
Re: In HK, only the public
listed cos., financial institutions & overseas cos. are obligated to file
their financial statements to Companies Registry for public search. Generally, the private limited cos. &
unlimited cos. always keep those data as highly confidential matter.
Banking relations are maintained principally with:
- HSBC
- Bank of India
- Agriculture Bank of China
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 records 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: None in our database.
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.
Our inquiry revealed that SC’s operation is mainly handled by its
representative office in Shenzhen and the contact details of the representative
office is as follows:
Tel: 86-755-82147166 / 82147199
Fax: 86-755-82147177
Business categories:
SC is engaged in trading of consumer electronic products.
Items available include televisions, MP3 players and DVD players
Principal purchases:
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : PR China
Buying
terms : L/C
& open account of 15-30 days
Principal market:
Local--type
of customers : Wholesalers &
retailers
Selling
terms : COD &
credit of 15-30 days
Overseas--buying
countries : India & SE Asia
Selling
terms : L/C
SC is not known to have any subsidiary at
present.
In view of SC's operation style, it seems more appropriate to confine credit
dealings to small amount at present.
APPENDIX
SUPPLEMENTARY INFORMATION:
Attached document (total no. of pages : 3)
1. Co.
search of Sino Star Trading co. Shenzhen Preventative Office
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%)