MIRA INFORM REPORT

 

 

Report Date :

20.02.2012

 

IDENTIFICATION DETAILS

 

Name :

UNITED  IMPORT  AND  EXPORTS

 

 

Registered Office :

Room 1308, 13/F., Hart Avenue Plaza, 5 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

11.08.2009

 

 

Com. Reg. No.:

50993582-000-08

 

 

Legal Form :

Sole Proprietorship

 

 

LINE OF BUSINESS :

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

 

 

No. of Employees :

2.  (Including affiliate)

 

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 Concern

Payment Behaviour :

No Complaints

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 30, 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

 

Company nAme AND ADDRESS

 

UNITED  IMPORT  AND  EXPORTS

 

 

ADDRESS:       Room 1308, 13/F., Hart Avenue Plaza, 5 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:                        2724 0044

 

FAX:                 2724 0055

 

 

MANAGEMENT

 

Manager:  Mr. Mohamed Sultan Meeralebbe

 

 

SUMMARY

 

Establishment:                          11th August, 2009.

 

Organization:                  Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   2.  (Including affiliate)

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Head Office:-

Room 1308, 13/F., Hart Avenue Plaza, 5 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Company:-

V.S. Trading, Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER 

 

50993582-000-08

 

 

MANAGEMENT

 

Manager:  Mr. Mohamed Sultan Meeralebbe

 

 

SOLE PROPRIETOR

 

Name:  Mr. Mohamed Sultan MEERALEBBE

Residential Address:      Flat G, 7/F., Wing Lee Building, 27-33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 11th August, 2009 as a sole proprietorship concern owned by Mr. Mohamed Sultan Meeralebbe under the Hong Kong Business Registration Regulations.

Initially the subject was located at Suie E, 3/F., Union Mansion, 33 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in April 2010.

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, accessories, etc.

 

Employees:                   2.  (Including affiliate)

 

Commodities Imported:   Turkey, Europe, Asian countries, etc.

 

Markets:                       India, other Asian countries, etc.

 

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

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

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

 

Condition:                      Business is under development.

 

Facilities:                      Trying to make 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

 

United Import And Exports is a sole proprietorship set up and owned by Mr. Mohamed Sultan Meeralebbe who is an Indian.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  He is also the manager of the subject.

The subject commenced business in August 2009.  Sharing the same office with another firm V.S. Trading located at the present address, the subject is a mobile phone trader, so does V.S. Trading.

The subject is trading in all kinds of mobile phones and accessories.  It is carrying GSM/PCS mobile phones and accessories imported from Turkey, Europe and some of the Asian countries.

The subject and V.S. Trading are carrying the products bearing the following brands: “Motorola”, “Nokia”, “Sony Ericsson”, “Samsung”, “LG”, “Sharp”, “Panasonic/NEC”, “Blackberry”, “HTC”, etc.  Prime markets are India, other Asian countries, etc.  Business is still under development.

The subject 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 RU00147430-RU.

V.S. Trading is also a mobile phone and cellular phone trader.  The owner of V.S. Trading is Mr. Marco Vanguard.

The subject’s business is chiefly handled by Meeralebbe himself.  History in Hong Kong is just over two years and six months.

On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.21

UK Pound

1

Rs.77.75

Euro

1

Rs.64.58

 

 

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.