MIRA INFORM REPORT

 

 

Report Date :           

23.11.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

SEARCH  LIGHTS

 

 

Registered Office :

C/o Excellent Honour Corporate Services Ltd., Flat B & C, 20/F., Full Win Commercial Centre, 573 Nathan Road, Yaumatei, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

08.08.2008

 

 

Com. Reg. No.:

39645104-000-08

 

 

Legal Form :

Sole Proprietorship.       

 

 

Line of Business :

Importer and Exporter of all kinds of fabrics

 

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 :

Unknown

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

 

 

 Bottom of Form

 

Company name

 

SEARCH  LIGHTS

 

 

Company ADDRESS

 

c/o Excellent Honour Corporate Services Ltd.

Flat B & C, 20/F., Full Win Commercial Centre, 573 Nathan Road, Yaumatei, Kowloon, Hong Kong.

PHONE:            2626 0378

FAX:                 2626 0372

 

 

MANAGEMENT

 

Manager:  Mr. Sanjeev Kumar Chopra

 

 

SUMMARY

 

Establishment:                          8th August, 2008.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Fabric Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

c/o Excellent Honour Corporate Services Ltd.

Flat B & C, 20/F., Full Win Commercial Centre, 573 Nathan Road, Yaumatei, Kowloon, Hong Kong.

 

Associated Company:-

Rise International Ltd., Hong Kong.  (Same owner and same address)

 

 

BUSINESS REGISTRATION NUMBER

 

39645104-000-08

 

 

MANAGEMENT

 

Manager:  Mr. Sanjeev Kumar Chopra

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Sanjeev Kumar CHOPRA

Residential Address:      11879 Street, No. 10, 3/F., Sat Nagar Karol Bagh, New Delhi, India.

 

 

HISTORY

 

The subject was established on 8th August, 2008 as a sole proprietorship concern owned by Mr. Sanjeev Kumar Chopra under the Hong Kong Business Registration Regulations.

Initially the subject’s registered address was located at Suite 6601, 66/F., The Center, 99 Queen’s Road Central, Hong Kong where is the operating address of a commercial service provider Regus Centre (HK) Ltd.  It moved to the present address in July 2010 where is the operating address of Excellent Honour Corporate Services Ltd.

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

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of fabrics.

 

Employees:                   Nil.

 

Commodities Imported:   India, etc.

 

Markets:                       Hong Kong, China, other Asian countries, etc.

 

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

 

Terms/Buying:               L/C.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Suffering from a small loss in 2009 and 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Fairly satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Search Lights is a sole proprietorship set up and owned by Mr. Sanjeev Kumar Chopra who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject commenced business in August 2008.  Chopra is the Manager.

The subject does not have its own operating office.  Its registered office was in a commercial service firm located at Suite 6601, 66/F., The Center, 99 Queen’s Road Central, Hong Kong known as Regus Centre (HK) Ltd. [Regus] which is handling its correspondences and documents.  It moved to the present address in July 2010 as it has changed its commercial service firm to Excellent Honour Corporate Services Ltd. [Excellent Honour].  The new address is the operating address of Excellent Honour.

The subject has no employees in Hong Kong.

Chopra’s residential address is in New Delhi, India.

According to the subject, it is a fabric trader.  Commodities are chiefly imported from India.  Prime markets are Hong Kong, China, other Asian countries, etc.  Business is not active in Hong Kong.

It is likely that the subject has got an affiliated company in New Delhi, India which is also trading in fabrics.  This firm may be also operated by Chopra.  However, details are unknown.

The India firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.70

UK Pound

1

Rs.82.44

Euro

1

Rs.71.08

 

 

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.