MIRA
INFORM REPORT
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Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
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Name : |
WAI HING CO. |
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Registered Office : |
Flat A4, 6/F., Hankow Centre, |
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Country : |
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Date of Incorporation : |
03.11.2008 |
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Com. Reg. No.: |
39956612-000-11 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery
products, emerald, precious stones, etc. |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
WAI HING
CO.
ADDRESS
Flat A4, 6/F., Hankow Centre,
PHONE: 2366 3063
FAX: 2311 0919
MANAGEMENT
Manager: Mr. Asik Ali Mohamed
Sadakthambi
SUMMARY
Establishment: 3rd November,
2008.
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Diamond Trader.
Annual Turnover: HK$12~15
million (Including affiliate)
Employees:
2. (Including affiliate)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Fairly
satisfactory.
ADDRESS
Head Office:-
Flat A4, 6/F., Hankow Centre,
Affiliated Company:-
Reliance Trades, Hong Kong. (Same
address)
BUSINESS REGISTRATION NUMBER
39956612-000-11
MANAGEMENT
Manager: Mr. Asik Ali Mohamed
Sadakthambi
SOLE PROPRIETOR
Name: Mr. Asik Ali MOHAMED
SADAKTHAMBI
Residential Address: Unit 4,
6/F., Block A, Hankow Centre, 47 Peking Road, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was established on 3rd November, 2008 as a sole
proprietorship concern owned by Mr. Asik Ali Mohamed Sadakthambi under the
Hong Kong Business Registration Regulations.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds and jewellery products, emerald, precious stones, etc.
Employees: 2. (Including affiliate)
Commodities Imported:
Markets:
Annual Turnover: HK$12~15 million
(Including affiliate)
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit or Loss: Too early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd.,
Standing:
Small.
GENERAL
Wai Hing Co. is a is a sole proprietorship set up on and owned by Mr.
Asik Ali Mohamed Sadakthambi who is an Indian.
Business commenced in November 2008, the subject is a diamond importer,
exporter and wholesaler. It is trading
in loose diamonds.
The subject has got an affiliated company Reliance Trades located at its
operating address. Reliance Trades and
the subject are engaged in the same lines of business.
The subject’s operating address is in a private and commercial building
known as Hankow Centre which is in Tsimshatsui,
Reliance Trades is a partnership jointly owned by Seyed Abdul Gani Seyed
Abdul Kader, Asik Ali Mohamed Sadakthamby and Samul Haque Mohamed Sadak. All the partners are Indians who are Hong
Kong ID Card holders and have got the right to reside in
The subject is a polished and cut diamond importer, exporter and
wholesaler. It also trades in
alexandrite, emerald, precious stones, ruby jade, gem sets, semi-precious
stones, blue or coloured sapphire, Tanzanite, etc. Commodities are chiefly imported from
The subject’s business is chiefly handled by Mohamed Sadakthambi
himself.
The annual sales turnover of the subject and Reliance Trades ranges from
HK$12 to 15 million. The business of the
subject is still under development.
On the whole, since the history of the subject in
COURT CASES: None
per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.02 |
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1 |
Rs.73.21 |
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Euro |
1 |
Rs.60.70 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.