MIRA INFORM REPORT

 

 

Report Date :           

03.05.2011

 

IDENTIFICATION DETAILS

 

Name :

JOINT  FORD  LTD.

 

 

Registered Office :

c/o Sincere Secretaries Ltd., 13/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street, Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

08.01.2010

 

 

Com. Reg. No.:

52542593

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds, 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 :

New Company

 

 

Payment Behaviour :

Regular

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

JOINT  FORD  LTD.

 

 

Company ADDRESS

 

c/o Sincere Secretaries Ltd.

13/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street, Central, Hong Kong.

PHONE:            2545 6525

FAX:                 2854 0460

 

 

MANAGEMENT

 

Managing Director:  Mr. Mohamed Ashraff Mohamed Yahya

 

 

SUMMARY

 

Incorporated on:                         8th January, 2010.

 

Organization:                             Private Limited Company.

 

Capital:                                     Nominal:           HK$10,000.00

Issued:              HK$1.00

 

Business Category:                    Diamond Trader.

 

Employees:                               Nil.

 

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

 

Banking Relation:                       Satisfactory.

 

Company ADDRESS

 

Registered Head Office:-

c/o Sincere Secretaries Ltd.

13/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street, Central, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

52542593

 

 

COMPANY FILE NUMBER 

 

1409689

 

 

MANAGEMENT

 

Managing Director:  Mr. Mohamed Ashraff Mohamed Yahya

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

 

SHAREHOLDER  

(As per registry dated 08-01-2011)

 

Name

 

No. of share

Mohamed Ashraff MOHAMED YAHYA

 

1

=

 

 

DIRECTOR

(As per registry dated 08-01-2011)

 

Name

(Nationality)

 

Address

Mohamed Ashraff MOHAMED YAHYA

Room 1108, Luk Yat House, Yat Tung Estate, Tung Chung, Lantau Island, Hong Kong.

 

 

SECRETARY

(As per registry dated 08-01-2011)

 

Name

Address

Co. No.

Sincere Secretaries Ltd.

13/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street, Central, Hong Kong.

0109535

 

 

HISTORY

 

The subject was incorporated on 8th January, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.

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, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries,

 

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

 

Terms/Buying:               L/C, pre-payment, etc.

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

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:  Too early to comment.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 1 ordinary share of HK$1.00, Joint Ford Ltd. is solely owned by Mr. Mohamed Ashraff Mohamed Yahya.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at 13/F., Chun Wo Commercial Centre, 23‑29 Wing Wo Street, Central, Hong Kong known as City Secretarial Ltd. which is handling its correspondences and documents.  Sincere Secretaries Ltd. is also the corporate secretary of the subject.  This firm is an associated company of Y. H. Lam & Co. which is an accountant firm located at the above-mentioned address.

The subject has no employees in Hong Kong.

Business commenced in January 2010, the subject is a diamond importer, exporter and wholesaler.  It is trading in loose diamonds like marquise, pears, tappers, buggets and rose cut, round brilliant, single cut and fancy cut, etc.  Most of the commodities are imported from India, other Asian countries and Europe.  Prime markets are Hong Kong, Japan, India and the other Asian countries.

Business handled by Mohamed Yahya himself, the subject is just a one-man company.

Since the history of the subject is just over a year and three months in Hong Kong, on the whole, consider it good for normal business engagements on secured basis.

 

COURT CASES:            None per our records.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.73.89

Euro

1

Rs.65.57

 

 

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.