MIRA
INFORM REPORT
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Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
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Name : |
PRAISE GROUP H.K. LIMITED |
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Registered Office : |
Nanshan
District, |
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Country : |
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Financials (as on) : |
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Date of Incorporation : |
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Com. Reg. No.: |
--- |
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Legal Form : |
--- |
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Line of Business : |
--- |
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No. of Employees : |
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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 : |
Registered in |
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Payment Behaviour : |
Unknown |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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China |
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 & address
PRAISE GROUP H.K. LIMITED
NANSHAN
DISTRICT, SHENZHEN, GUANGDONG PROVINCE 518000 PR CHINA
TEL: 86 (0)
755-25011344
FAX: N/A
NARRATIVE
REPORT
This refers to a type of report whose format is different from that of a
standard report. Such type of report is provided when:
l
Information obtained is insufficient for compiling
a standard report.
l
The enquired co has been out of business or its
business address has been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
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Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
CHECK
ON SC’S REGISTERED TELEPHONE LINE
²
The
client provided the following telephone number,
Tel: 86 (0) 755-25011344
When we dialed the above number, the gentleman Mr. Peter answered the phone.
He admitted the given English name, and told us SC is registered in Hong Kong,
but has no Chinese name. SC mainly operates in Shenzhen, Guangdong Province PR
China.
²
Mr. Peter
introduced the below information,
A.
SC is mainly engaged in exporting electronic
products.
B.
The products mainly include:
DVD, VCD, DTH
DVD
Remote Controls
Car
DVD Accessories
DVD
Card/VCD Card
DVD
Front Panel
DVD
Lens
DTH
kit
DTH
Card
Car
Accessories
GAMES
Brick
Game
Educational
Game
TV
Games
Game
Console/Accessories
Ninetendo
Series
Sony
Series
C.
SC sources its materials 100% from domestic market,
mainly Shenzhen. SC sells 100% to overseas market, mainly India.
D.
SC’s website: www.praisesources.com
SC’s other contact ways:
Skype:
praise-group
Email:
praise.group@gmail.com
SPOT
VISIT
Nanshan
District, Shenzhen, Guangdong Province 518000 PR China
The above address is not complete, but Mr. Peter refused to release the
details.
REGISTRATION
During our check with Hong Kong Registry,
we found the following registration about SC,
Company
Name: Praise Group H.K. Limited
Company
File No.: 1416973
Date of
Registration: January 28, 2010
Legal
Form: Private
Status: Live
CONCLUSIONS
SC is considered small-sized in its line with 2 years business history.
Credit dealings with SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.57.22 |
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UK Pound |
1 |
Rs.89.42 |
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Euro |
1 |
Rs.71.46 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.