MIRA INFORM REPORT

 

 

Report Date :           

05.08.2011

 

IDENTIFICATION DETAILS

 

Name :

CHING  MING  INTERNATIONAL

 

 

Registered Office :

Flat B, 14/F., Minden House, 13-15 Minden Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

17.08.2006

 

 

Com. Reg. No.:

37061916-000-08

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of Diamonds, electric products, electronic products, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

Payment Behaviour :

No Complaints

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name  

 

CHING  MING  INTERNATIONAL

 

 

Company ADDRESS

 

Flat B, 14/F., Minden House, 13-15 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2850 8771

FAX:                 2850 8031

 

 

MANAGEMENT

 

Manager:  Mr. Ashwani Kumar

 

 

SUMMARY

 

Establishment:                          17th August, 2006.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   3.  (Including affiliates)

 

Main Dealing Banker:     Bank of China (Hong Kong) Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Flat B, 14/F., Minden House, 13-15 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Companies:-  (Same address)

·         Moonlight Holdings Ltd., Hong Kong.

·         Sunray Company, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

37061916-000-08

 

 

MANAGEMENT

 

Manager:  Mr. Ashwani Kumar

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Ashwani Kumar

Residential Address:      Flat D, 4/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon, Hong

Kong.

 

 

HISTORY

 

The subject was established on 17th August, 2006 as a sole proprietorship concern owned by Mr. Ashwani Kumar under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat D, 4/F., Wah Fung Building, 17‑23 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in June 2009.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Diamonds, electric products, electronic products, etc.

 

Employees:                   3.  (Including affiliates)

 

Commodities Imported:   China, other Asian countries, etc.

 

Markets:                       India, Pakistan, Middle East, Africa, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a very small profit every year.

 

Condition:                      Business has been normal.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Bank of China (Hong Kong) Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Ching Ming International is a sole proprietorship set up and owned by Mr. Ashwani Kumar who is an Indian.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject shares the office with Sunray Company [Sunray] and Moonlight Holdings Ltd.  Both are Hong Kong-registered firms.

The subject is engaged in the same lines of business as Sunray, more or less.  Currently, the subject is trading in the following commodities:-

·         Computers, Peripherals, Software, etc.

·         DVD/VCD Players

·         Diamonds, Jewellery and Imitation Jewellery, etc.

·         Textile Products, Garments, etc.

·         Electric Appliances

·         Giftware

·         Toys

·         Other Light Industrial Products

Most of the commodities are sourced from China, other Asian countries and acquired from local suppliers.  Prime markets are India, Pakistan, the Middle East, Africa, etc.

Business chiefly handled by Ashwani Kumar himself, the subject moved to the present address just in June 2009, business is fairly active.  Formerly the subject’s registered and operating address was in the residence of Ashwani Kumar.

On the whole, consider the subject good for normal business engagements in very small credit amounts.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.42

UK Pound

1

Rs.72.70

Euro

1

Rs.63.55

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.