MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHAN-NIT TRADING CO |
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Registered Office : |
Rm G 25FL Costa Del Sol Block, 8 Laguna Verde Hunghom
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.02.1999 |
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Com. Reg. No.: |
22277754 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Trader of Diamonds. |
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
CHAN-NIT TRADING CO
RM G 25FL COSTA DEL SOL BLOCK
8 LAGUNA VERDE HUNGHOM KOWLOON, HONG KONG.
TEL : 852-27236407
FAX : 852-27240519
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 13, 1999
REGISTRATION NO. :
22277754
LEGAL FORM :
SOLE-PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. NITESH JAGDISHCHAN CHAUHAN (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78851 = 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*
===================
License number : 22277754
Date issued : 13 February,
1999
Issuing authority : Inland
Revenue Department
Type of license :
Business
*Office & Facilities*
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Previous Contact Detail
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Address : Rm 5, 10Fl Haiphong Mansion Tsim Sha Tsui, Kowloon, Hong
Kong
*Corporate & Organization Structure*
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A small-sized company operated and managed by the owner.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
E-mail: hareshsugenhk@yahoo.com
For the past two years there is no record of litigation.
Based on corporate filing regulations for this type of entity in Hong
Kong, there is either, no requirement for Shareholders or no requirement for public
disclosure of Shareholders.
Management : Mr. Nitesh Jagdishchan Chauhan, General Manager
Name Nationality
Job Description
Mr. Nitesh Jagdishchan Chauhan Indian
General Manager
*Key Personnel*
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Mr. Nitesh Jagdishchan Chauhan
Founder : Sole
Founder
Passport no. : P9132507
Address : Rm 27-A,
7Fl Ocean View Court Chatham Rd, Tsimshatsui, Kowloon, Hong Kong.
Responsibilities : Handles the
overall management of the company.
Work experience : More than 5 years
*Main Products & Services*
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Specializes in trading diamonds.
Products: Diamonds
*Payment Terms*
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Sales
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Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
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50% of the annual turnover is attributed to local sales.
*Export Markets*
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50% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 52
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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 sole proprietorship there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank name : WING LUNG BANK
LTD
Branch : Tsimshatsui,
Kowloon
Swift code : WUBAHKHH
SC is considered small-sized in its line with a development history of 8
years.
Attached:
trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
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 7102100000 Diamonds,
unsorted
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to North America
Exporting to USA
Importing from Asia
Importing from India
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
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%)