MIRA INFORM REPORT

 

 

Report Date :           

29.07.2011

 

IDENTIFICATION DETAILS

 

Name :

ADAM’S  ENTERPRISE

 

 

Registered Office :

 Room 903, 9/F., Block A, Nan Dao Commercial Building, 359-361 Queen’s Road Central, Sheung Wan

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

19.03.1981

 

 

Com. Reg. No.:

07120283-000-03

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of Electronic products, hardware, electric kitchen appliances, 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

 

 Bottom of Form

 

Company name

 

ADAM’S  ENTERPRISE

 

 

Company ADDRESS

 

Room 903, 9/F., Block A, Nan Dao Commercial Building, 359-361 Queen’s Road Central, Sheung Wan, Hong Kong.

PHONE:            2544 5033,  2541 4633

FAX:                 2541 4563,  2541 4998

E-MAIL:            adams_enterprise@yahoo.com

vishni@netvigator.com

 

 

MANAGEMENT

 

Manager:  Mr. Ashok Doulatram Mahtani

 

 

SUMMARY

 

Establishment:                          19th March, 1981.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   5.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Room 903, 9/F., Block A, Nan Dao Commercial Building, 359-361 Queen’s Road Central, Sheung Wan, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

07120283-000-03

 

 

MANAGEMENT

 

Manager:  Mr. Ashok Doulatram Mahtani

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Ashok Doulatram MAHTANI

Residential Address:      Flat 3B, 3/F., 38 Conduit Road, Hong Kong.

 

 

HISTORY

 

The subject was established on 19th March, 1981 as a partnership concern jointly owned by three Indian under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Mr. Doulatram Hotlhand MAHTANI

19-03-1981

16-07-2009

Mr. Ashok Doulatram MAHTANI

19-03-1981

-

Mr. Dayal Dhalomal SHAHDADPURI

19-03-1981

31-03-2010

 

The first partner passed away on 16th July, 2009.  The subject has become a sole proprietorship since 31st March, 2010.

Initially the subject was located at Room 104, 1/F., 43-55 Wyndham Street, Central, Hong Kong, moved to 4/F., Parklane Building, 235 Queen’s Road Central, Hong Kong in June 1990; to Room 202, 2/F., Kam On Building, 176A-F Queen’s Road Central, Sheung Wan, Hong Kong in May 2000; to Flat B, 13/F., Wing Cheong Commercial Building, 19-25 Jervois Street, Sheung Wan, Hong Kong in April 2008; and further moved to the present address in April 2010.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Electronic products, hardware, electric kitchen appliances, etc.

 

Employees:                   5.

 

Commodities Imported:   China, other Asian countries, etc.

 

Markets:                       India, other Asian countries, Middle East, Europe, North America, etc.

 

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

 

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

 

 

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.

 

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

 

Standing:                      Small.

 

GENERAL

 

Adam’s Enterprise is a sole proprietorship set up and owned by Mr. Ashok Doulatram Mahtani 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 is a trading company.  It is trading in the following commodities:-

·         Doll and Pet – Plastic

·         Locks

·         Radio – 1 Band (Excluding MW and CB)

·         Radio – 2 Band (Excluding AM / FM)

·         Radio – Multi-band

·         Radio AM/FM

·         Radio MW (AM)

·         Shower Radio

·         Walkman Radio

·         DVD Player/Recorder

·         VCD Player

·         Kitchen Appliances – Electric

·         Computer/Peripherals

·         Numerical Products

·         Audio and Video Equipment

etc.

Most of the subject’s commodities are sourced from China, Europe, other Asian countries or acquired from local suppliers.  Prime markets are India, other Asian countries, the Middle East, Europe, North America, etc.  Overall business is active and steady.  Regular suppliers and customers have been maintained.

The subject’s business is chiefly handled by A. D. Mahtani himself.  History in Hong Kong is over thirty years and four months.

On the whole, consider the subject good for normal business engagements.

 

COURT CASES:            None per our.

 

-

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.13

UK Pound

1

Rs.72.05

Euro

1

Rs.63.33

 

 

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.