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MIRA
INFORM REPORT
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Report Date : |
11.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
GEMPO HK LTD. (T/A TRADE ONE) |
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Registered Office : |
Flat 6, 14/F., Blk.A, Hankow Ctr., 47 Peking Rd.,Tsim Sha Tsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
5.6.1990 |
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Com. Reg. No.: |
279583 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of Jewellery |
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 : |
Exists |
name & address
GEMPO
HK LTD. (T/A TRADE ONE)
FLAT 6, 14/F.,
BLK.A, HANKOW CTR., 47 PEKING RD.,
TSIM SHA TSUI, KLN., HONG KONG.
TEL: 852
27215880 FAX: 852 23668335
EXECUTIVE SUMMARY
INCORPORATION DATE :
5-6-1990
REGISTRATION NO. :
279583
REGISTERED LEGAL FORM : PRIVATE
LTD.
CHIEF EXECUTIVE : MR. AHMED FAZLUL HASSAN (DIRECTOR)
STAFF STRENGTH :
4
AUTHORIZED CAPITAL :
HK $1M = 0.1M SHARES @ HK $10.-
PAID-UP
CAPITAL : HK $1M
BUSINESS LINE :
TRADING OF JEWELLERY
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 : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78301 = 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
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SC is a private limited company registered under incorporation file no.
279583 on 5-6-1990.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 5-6-2006) Number
of shares held
- Ahmed Fazlul Hassan 50,000
- Ahamed Fazul Hassan Abirin Zhlaiah 20,000
- Seyed Mohamed Buhary Mohamed Abdul Cader 30,000
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100,000
========
Director(s) (as at 5-6-2006)
- Ahmed Fazlul Hassan / P113043(2)
- Ahamed Fazul Hassan Abirin Zulaiah / P419310(9)
The above registration information is based on SC's annual return of
2006 filed at Companies Registry while that of the current year was not
available during our search.
Partial change in SC's directorship as follows:
Name(s) of resigned director(s) Resignation
date
Seyed Mohamed Buhary Mohamed Aboul Cader 1-1-2006
Name(s) of newly appointed director(s) Appointment
date
Nil Nil
Total number of employees: 4.
Location: Maintaining
its office at the heading business address which occupies a gross area of 800
square feet at a commercial building in a commercial and shopping district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Property ownership: Current land search indicates the ownership details
of the heading premises as follows:
- Owner(s): SC
- Date of purchase / consideration: 17-9-2007 / HK $4.9M
- Date of mortgage / secured amount: 17-9-2007 / ANS
- Mortgagee: Public Bank (HK) Ltd.
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Ahmed Fazlul Hassan, director:
- In his early 40's
- Embarked upon his career to present field as a small businessman in
his early 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: T-1, 27/B, The Waterfront TST, Austin
Road West, Kln., 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
Ahamed Fazul Hassan Abirin Zulaiah, director:
- In his mid 20's
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Ahmed Fazlul Hassan.
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:
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
Ownership background appraisal:
Rating : 3 Obtained scores : 58 (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.
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Upon a current contact, Mr. Ahmed Fazlul Hassan, SC's director, 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.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 5-6-2006 was Nil.
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Banking relations are maintained principally with: HSBC
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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.
Mortgage/charge record(s): (X) see below ( ) see per attached
Creation date : 20-6-2007
Charger(s) :
SC
Chargee(s) :
HSBC
Secured amount : ANS
Charge particulars : Assign of receivable
Creation date : 19-7-2007
Charger(s) :
SC
Chargee(s) :
Public Bank (HK) Ltd.
Secured amount : ANS
Charge particulars : 2 party mortgage deed (the heading business address)
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1991, 2007
Year(s) in which mortgage satisfaction record(s) are filed: 1991
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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.
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Business categories:
SC is engaged in trading of jewellery.
Items available include gemstones, jades, rubies, sapphires and crystals
SC's sideline business deals in polishing and cutting of gemstones.
Principal purchases:
Major
types of sourcing : Merchandise,
accessories
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : Europe, PR China, other SE
Asian countries, Israel, India, Belgiem, Middle East
Buying
terms : Open
account of 15-30 days, L/C
Principal market:
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : PR China, SE Asia
Selling
terms : L/C, open
account of 30 days
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SC is not known to have any subsidiary at
present.
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SC is considered small-sized in its line locally with a long history.
Credit dealings of small amount may be considered.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)