MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAR & BEST LTD |
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Registered Office : |
7A Lee Wai Commercial Bldg 1-3 Hart Ave Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.12. 2002 |
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Com. Reg. No.: |
0826813 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading wide range of Diamond and related Jewelry. |
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
FAR
& BEST LTD
7A LEE WAI COMMERCIAL BLDG
1-3 HART AVE TSIMSHATSUI KOWLOON, HONG KONG
TEL: 852-27240061 FAX: 852-27240063
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 20, 2002
REGISTRATION NO. :
0826813
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. SO (REPRESENTATIVE)
STAFF STRENGTH :
3
CAPITAL :
US$ 154,242
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79397= 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
Registered Legal Address: 4Fl Central Tower 28 Queen's Rd Central Hong
Kong
*Company Registration*
==================
(1)
License number : 0826813
Date issued : 20 December, 2002
Issuing authority : Companies Registry
Type of license : Corporate license
(2)
License number : 33944328-000
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business license
*Capital Details*
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Authorized capital : HKD
1,200,000.00
Paid-up capital : HKD 1,000,000.00 divided into 100,000
ordinary shares of HKD 10.00/-each
*Office & Facilities*
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Previous address : Carnarvon Plaza 20 Carnarvon Rd Tsimshatsui Hong
Kong
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
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STEVENSEC LTD can sign on behalf of the company with seal affixed.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: 100,000
Shareholders Country
Number Amount (HKD) %
------------------- ----------- ----------- ----------- -----
Mr. Guvrumurthy Venkataraman Iyer
India 50,000.00 500,000.00 50.00
Mr. Indira Thiagarajan India 50,000.00 500,000.00 50.00
*Company Secretary*
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STEVENSEC LTD
Address : 4Fl Central Tower 28 Queen's Rd Central Hong Kong
CR no : 879348
Management: Ms. So, Representative
Name Nationality Job Description Dept. / Division
Ms. So Hong Kong Representative Sales
*COMPANY DIRECTORS*
======================
1
Name :
Mr. Guvrumurthy Venkataraman Iyer
Nationality :
India
ID/Passport No. :
E1414265
Registered Address : 107
Sheetal Co Op Hsg Society Narayan Nagar
Country of Residence : India
2
Name :
Mr. Indira Thiagarajan
Nationality :
India
ID/Passport No. :
Z1440652
Registered Address : 8/50 Ha
Mavdil St
Country of Residence: Israel
*Main Products & Services*
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Specializes in trading wide range of diamond and related jewelry.
Products: Diamonds
*Payment Terms*
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Sales
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Local : Cash or Credit
Purchases
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Local : Cash or Credit
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*International Trade Activity*
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There are no of exports or imports, because the prime focus of the
firm's activity is concentrated on the local sales only
*LOCAL BRANCHES & MANAGEMENT*
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Branch: FAR & BEST LTD (ACCOUNTING OFFICE) - HONG KONG
Branch Address: 4Fl Central Tower 28 Queen's Rd Central, Hong Kong,
*Branches*
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Comment: Also occupies 5th floor of the above-mentioned building.
PAYMENT RATING : 4 OBTAINED SCORES :
48
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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 small-sized in its line with a development history of 6
years.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
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 7102290000 Industrial
diamonds, worked
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7116201000 Jewelry
of precious or semiprecious stones
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%)