MIRA INFORM REPORT

 

 

Report Date :           

07.05.2011

 

IDENTIFICATION DETAILS

 

Name :

KOVTRA

 

 

Registered Office :

Flat C, 12/F., Arthur Commercial Building, 33 Arthur Street, Yau Ma Tei, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.03.2010

 

 

Com. Reg. No.:

51850989-000-03

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of mobile phones and accessories, 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 :

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

 

KOVTRA

 

 

Company ADDRESS

 

Flat C, 12/F., Arthur Commercial Building, 33 Arthur Street, Yau Ma Tei, Kowloon, Hong Kong.

PHONE:            3502 1986

FAX:                 3502 1987

 

 

MANAGEMENT

 

Manager:  Mr. Jaydeep Singh Bajwa

 

 

SUMMARY

 

Establishment:                          1st March, 2010.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   3.

 

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

 

Banking Relation:           Fairly satisfactory.

Company ADDRESS

 

Head Office:-

Flat C, 12/F., Arthur Commercial Building, 33 Arthur Street, Yau Ma Tei, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

51850989-000-03

 

 

MANAGEMENT

 

Manager:  Mr. Jaydeep Singh Bajwa

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Jaydeep Singh BAJWA

Residential Address:      Vill-Bazar Kalan Math Khera Road, Near Chouhra, Po/Ps-Bilaspur Rampur, India.

 

 

HISTORY

 

The subject was established on 1st March, 2010 as a sole proprietorship concern owned by Mr. Jaydeep Singh Bajwa 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 mobile phones and accessories, etc.

 

Employees:                   3.

 

Commodities Imported:   Europe, South Korea, etc.

 

Markets:                       Asian countries, Middle East, etc.

 

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

 

Terms/Buying:               L/C, 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 as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Kovtra is a sole proprietorship set up and owned by Mr. Jaydeep Singh Bajwa who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  Bajwa is the manager of the subject.

Business commenced in March 2010, the subject is a mobile phone trader.  It 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 RU00140501-RU.

The subject is trading in GSM/PCS mobile phones and accessories.  Significant brands such as “Motorola”, “Nokia”, “Ericsson”, “Samsung”, “Philips” and “Siemens” are being carried.  Commodities are exported to Southeast Asia, India, the Middle East, etc.  Business is still under development.

The subject’s business is chiefly handled by Bajwa himself.  History in Hong Kong is just over a year and two months.

On the whole, since the history of the subject is short in Hong Kong, consider it good for normal business engagements on secured basis.

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.78

UK Pound

1

Rs.73.43

Euro

1

Rs.65.27

 

 

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

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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%)

 

 

 

 

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