MIRA INFORM REPORT

 

 

Report Date :           

01.12.2011

 

IDENTIFICATION DETAILS

 

Name :

V.  S.  TRADING

 

 

Registered Office :

Flat G, 7/F., Wing Lee Building, 33 Kimberley Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

06.01.1997

 

 

Com. Reg. No.:

20568434-000-01

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Importer, Exporter and Wholesaler of Advertising premium, kitchen utensils, telecom products, telephone and telephone equipment, mobile phones, electronic products, etc.

 

 

No. of Employees :

4 Persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

V.  S.  TRADING

 

 

Company ADDRESS

 

Room 1308, 13/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2724 0044

FAX:                 2724 0055

E-MAIL:                        vstrade@netvigator.com

 

 

MANAGEMENT

 

Manager:           Mr. Mohamed Sultan Sadak Merran  (Mobile: 6423 8131)

 

 

SUMMARY

 

Establishment:                          6th January, 1997.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   4.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Office:-

Flat G, 7/F., Wing Lee Building, 33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

Head Office:-

Room 1308, 13/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

Associated Company:-

V. S. Trading Ltd., Hong Kong.  [Dissolved]

 

 

BUSINESS REGISTRATION NUMBER

 

20568434-000-01

 

 

MANAGEMENT

 

Manager:  Mr. Mohamed Sultan Sadak Merran

 

 

PARTNERS

 

Name:                           Mr. Mohamed Sultan SADAK MERRAN

Residential Address:      Flat B6, 12/F., Chung King Mansion, 36-44 Nathan Road, Tsimshatsui, Kowloon, Hong

Kong.

 

Name:                           Mr. Marzoona SADAK MEERAN

Residential Address:      Flat G, 7/F., Wing Lee Building, 33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 6th January, 1997 as a sole proprietorship concern owned by Mr. Mohamed Sultan Sadak Merran under the Hong Kong Business Registration Regulations.  It became a partnership as Mr. Marzoona Sadak Meeran joined in the subject as a partner on 1st November, 1999.

At the very beginning, the subject’s registered address was located at Flat B6, 12/F., Chung King Mansion, 36-44 Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat G, 7/F., Wing Lee Building, 33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong in September 1998.  However, the subject’s operating address is located at Room 1308, 13/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Advertising premium, kitchen utensils, telecom products, telephone and telephone equipment, mobile phones, electronic products, etc.

 

Employees:                   4.

 

Commodities Imported:   China, other Asian countries, Europe, etc.

 

Markets:                       Eastern and Western Europe, Africa, Middle East, Australia, Japan, Southeast Asia,

North & South America, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

·         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

·         Hang Seng Bank Ltd., Hong Kong.

 

Standing:  Normal.

GENERAL

 

V. S. Trading is a partnership jointly owned by Mohamed Sultan Sadak Merran and Marzoona Sadak Meeran.  Both are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

Belonging to the Sadak Meeran family, the two partners currently are residing in a private building located at Flat G, 7/F., Wing Lee Building, 33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.  This is also the registered address of the subject.  The subject’s operating office is located at a difference address.

The subject is a trading company, buying office, distributor and wholesaler.  It is trading in varieties of commodities.  It is carrying the following commodities: stationery, bags, advertising premiums, kitchen utensils, telecom products, telephone and telephone equipment, luggage, ceramics, tableware, gifts, electric home appliances, watches and clocks, spectacles, mobile phones, digital cameras, other electronic products, etc.

The subject has registered with the Office of the Telecommunications Authority [OFTA], The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee.  The subject bears the licence No. of RU00114330-RU.  Mobile phone trading seems to be one of the main lines of business of the subject.

The subject’s products have been exported to Eastern and Western Europe, Africa, the Middle East, Australia, Japan, Southeast Asia, North & South America, etc.  Overall business is normal.

Mohamed Sultan Sadak Merran can be reached at his mobile phone number 6423 8131.

As the history of the subject is over fourteen years and ten months in Hong Kong, on the whole, consider it good for normal business engagements.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.17

UK Pound

1

Rs.81.29

Euro

1

Rs.69.47

 

 

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.