MIRA INFORM REPORT

 

 

Report Date :

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

WEALTH  IMP  &  EXP

 

 

Registered Office :

Flat C, 2/F., Peninsula Apartments, 16 Mody Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

30.03.2010

 

 

Com. Reg. No.:

52008864-000-03

 

 

Legal Form :

Sole Proprietorship

 

 

LINE OF BUSINESS :

IMPORTER AND EXPORTER OF ALL KINDS OF MOBILE PHONES, ETC.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

No Operating Office in Hong Kong

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

WEALTH  IMP  &  EXP

 

 

Company ADDRESS

 

Flat C, 2/F., Peninsula Apartments, 16 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:                  6423 8131

 

 

MANAGEMENT

 

Manager:  Mr. Abdul Kader Kamaldeen

 

 

SUMMARY

 

Establishment:                          30th March, 2010.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Mobile phone trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company name 

 

WEALTH  IMP  &  EXP

 

 

Company ADDRESS

 

Head Office:-

Flat C, 2/F., Peninsula Apartments, 16 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

52008864-000-03

 

 

MANAGEMENT

 

Manager:  Mr. Abdul Kader Kamaldeen

 

 

SOLE PROPRIETOR

 

Name:  Mr. Abdul Kader KAMALDEEN

Residential Address: No. 61/230, K.T.M Street, Kayalpatnam-628206, Thoothukudi District, Tamil Nadu, India.

 

 

HISTORY

 

The subject was established on 30th March, 2010 as a sole proprietorship concern owned by Mr. Abdul Kader Kamaldeen under the Hong Kong Business Registration Regulations.

Formerly the subject was located at Unit 1308, 13/F., Hart Avenue Plaza, 5 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in May 2012.

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

 

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of mobile phones, etc.

 

Employees:                   Nil.

 

Commodities Imported:   China, other Asian countries, etc.

 

Markets:                       India, etc.

 

Terms/Sales:                 As per contracted.

 

Terms/Buying:               Various terms.

 

 

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

 

Wealth Imp & Exp is a sole proprietorship set up and owned by Mr. Abdul Kader Kamaldeen who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  He is also the Manager of the subject.

The subject does not have its own operating office.  Its registered office is in a private building located at Flat C, 2/F., Peninsula Apartments, 16 Mody Road, Tsimshatsui, Kowloon, Hong Kong where seems to be the residence of Kamaldeen when he is in Hong Kong.

The residential building is not trespassed by outsiders.  The subject has no employees in Hong Kong.  However, Kamaldeen can be reached at his mobile phone number 852-6423 8131.

The subject is a mobile phone trader.  It has registered with the Office of the Communications Authority [OFCA], 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 RU00138215-RU.

Most of the mobile phones are sourced from China and exported to India.  Its business is still under development.

In Hong Kong the subject has had an affiliated company known as V S Trading which is located at the old registered address of the subject.

The business of the subject is chiefly handled by Kamaldeen himself.

On the whole, since the subject is newly set up, consider it good for normal business engagements on L/C basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.77

UK Pound

1

Rs.86.74

Euro

1

Rs.68.31

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.