MIRA
INFORM REPORT
|
Report Date : |
08.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNIDESIGN FAREAST LTD |
|
|
|
|
Registered Office : |
RM 3, 11FL Hunghom Commercial Centre - Tower B 37 Ma Tau Wai Rd, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
15.03. 2004 |
|
|
|
|
Com. Reg. No.: |
0889111 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Imports and Local Purchase of Watches, Jewelry, Precious Stone and
Metals. Sales and Distribution of purchased products to local and
international 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
UNIDESIGN
FAREAST LTD
RM 3, 11FL HUNGHOM COMMERCIAL CENTRE - TOWER
B
37 MA TAU WAI RD, KOWLOON, HONG KONG
TEL: 852-27212682 FAX: 852-21276576
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 15, 2004
REGISTRATION NO. :
0889111
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. GANESHAN (REPRESENTATIVE)
STAFF STRENGTH :
3
CAPITAL :
US$ 1,285
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
*Company Registration*
==================
(1)
License number : 0889111
Date issued :
15 March, 2004
Issuing authority : Companies Registry
Legal form : Private Limited Company
Type of license : Corporate
(2)
License number : 34720765
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Company Name*
=============
Incorporated as : CHIGWELL ENTERPRISES LTD
Date of incorporation : 15 March, 2004
Changed name to : UNIDESIGN FAREAST LTD
Date of change : 19 July, 2004
*Capital Details*
=============
Authorized capital : HKD 10,000.00 divided into 10,000 ordinary shares
at HKD 1.00/-each, fully paid
*Office & Facilities*
===============
Previous address : Rm 1101 Hunghom Commercial Centre - Tower B 37 Ma Tau
Wai Rd Kowloon 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 Signature*
================
Only Mr. Nareshkumar Hirachand Surana 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*
================
Total number of shareholders: 1
Total number of shares: 10,000
Shareholders Country
Number Amount %
---------------- ----------- ------------- ------------ --------
UNIDESIGN JEWELERY PVT LTD India 10,000.00 10,000.00 100.00
*Company Secretary*
================
EAST (NOMINEES) LTD
Address : 11Fl Kundamal
House 2-4 Prat Ave Tsimshatsui Kowloon Hong Kong
CR number : 327797
Management : Mr. Ganeshan, Representative
Name Nationality Job Description
Mr. Ganeshan Hong Kong Representative
*COMPANY DIRECTORS*
======================
1
Name : Mr. Hiten Harshadrai Mehta
Nationality : India
ID/Passport No. : P756999(1)
Registered Address : 1204 Shirin Apartments Tardeo Rd, Mumbai (Bombay),
Maharashtra, 400007
Country of Residence : India
2
Name : Mr. Nareshkumar Hirachand Surana
Nationality : India
ID/Passport No. : P756999(1)
Registered Address : E8 Hilton Towers 96 Granville Rd
Country of Residence : Hong Kong
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Imports and local purchase of watches, jewelry, precious stone and
metals.
2. Sales and distribution of purchased products to local and
international market.
Products: Jewelry
Precious
metals
Precious
stones
Watches
*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)
*Local Distribution Network*
======================
Part of the annual turnover is attributed to local sales.
*Export Markets*
=============
Part 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 short history.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3399 Primary
metal products,
Trading 3873 Watches,
clocks, clockwork operated devices, and parts,
Trading 3961 Jewelry of
materials other than solid gold, platinum & silver
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7113205000 Jewelry
of base metal clad with precious metal
Trading 7114200060 Articles
of base metal clad with precious metal
Trading 7116201000 Jewelry
of precious or semiprecious stones
Trading 7116205000 Articles
of precious or semiprecious or synthetic stones
Trading 9100 Clocks
& watches & parts thereof
Trading 9114 Clock
or watch parts
Trading 9114904000 Parts
for watches
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Importing from Asia
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%)