MIRA
INFORM REPORT
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Report Date : |
07.05.2011 |
IDENTIFICATION DETAILS
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Name : |
ABILITY TRADING CO. |
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Registered Office : |
Flat D-4, 10/F., Block D, |
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Country : |
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Date of Incorporation : |
09.10.2009 |
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Com. Reg. No.: |
51293149-000-10 |
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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, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Concern |
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Payment Behaviour : |
No Complaints |
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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
ABILITY TRADING
CO.
ADDRESS
Flat D-4, 10/F., Block D,
PHONE: Not available
FAX: Not available
MANAGEMENT
Manager: Mr. Hamid Katheeb Abul
Kassim
SUMMARY
Establishment: 9th October,
2009.
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Diamond Trader.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Flat D-4, 10/F., Block D, Tsim Sha Tsui Mansion, 83-97 Nathan Road,
Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
51293149-000-10
MANAGEMENT
Manager: Mr. Hamid Katheeb Abul
Kassim
SOLE PROPRIETOR
Name: Mr. Hamid KATHEEB ABUL KASSIM
Residential Address: Flat D-4,
10/F., Block D, Tsim Sha Tsui Mansion, 83‑97 Nathan Road, Tsimshatsui,
Kowloon, Hong Kong.
HISTORY
The subject was established on 9th October, 2009 as a sole
proprietorship concern owned by Mr. Hamid Katheeb Abul Kassim 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, etc.
Employees: Nil.
Commodities Imported:
Markets:
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 on time.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd.,
Standing:
Small.
GENERAL
Ability Trading Co. is a sole proprietorship set up and owned by Mr.
Hamid Katheeb Abul Kassim who is an Indian.
He is a Hong Kong ID Card holder and has got the right to reside in
The subject does not have its own operating office. Its registered and operating address is in
the residence of the sole proprietor.
Business is improving.
The subject has no employees.
The subject’s telephone number and fax number have not registered with
local telephone company nor listed on telephone directories.
The subject is a diamond importer, exporter and wholesaler. It is trading in single-cut diamond, fullcut
loose diamond, carat size diamonds, blue sapphire, etc. Most of the commodities are imported from
Business handled by Katheeb Abul Kassim himself, the subject is just a
one‑man company. It is likely that
Katheeb Abul Kassim has been engaged in diamond trading for a very long time
before setting up his own business.
The history of the subject in
On the whole, since the registered office of the subject is in a
residential building, history is short,
consider it good for normal business engagements on L/C basis.
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.44.78 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.65.27 |
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.