MIRA
INFORM REPORT
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Report Date : |
27.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ACEMARK DISTRIBUTORS LTD. |
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Registered Office : |
2/F., Eader Centre, |
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Country : |
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Date of Incorporation : |
23.11. 2007 |
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Com. Reg. No.: |
38665581 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Household Goods, Electronic Products,
Electrical Appliances, Toys and Sundry Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
ACEMARK DISTRIBUTORS LTD.
ADDRESS
2/F., Eader Centre,
PHONE: 2542 2182, 2736 2300
FAX: 2542
3994, 2851 7890
E-MAIL: acehk@acemk.com.hk
MANAGEMENT
Managing Director: Mr. Rajkumar Naraindas Sabnani
SUMMARY
Incorporated on: 23rd November, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$100,000.00
Issued: HK$100,000.00
Business Category: Household Goods Trader.
Annual Turnover: HK$90-95 million.
Employees: 8.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
2/F., Eader Centre,
Affiliated Company:-
Acemark Exports (H.K.) Ltd., Hong Kong. [Dissolved]
BUSINESS REGISTRATION NUMBER
38665581
COMPANY FILE NUMBER
1188436
MANAGEMENT
Managing Director: Mr. Rajkumar Naraindas Sabnani
CAPITAL
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000.00
SHAREHOLDER
(As per registry
dated 23-11-2008)
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Name |
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No. of shares |
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Rajkumar Naraindas SABNANI |
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100,000 ====== |
DIRECTORS
(As per registry
dated 23-11-2008)
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Name (Nationality) |
Address |
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Manoj Mohanlal AHUJA |
15/G, Block 5, Juniper Mansion, Site 1, Whampoa Garden, Hunghom, Kowloon, Hong Kong.
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Rajkumar Naraindas SABNANI |
2/F., Block 46, |
SECRETARY
(As per registry
dated 23-11-2008)
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Name |
Address |
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Buttar.HK Ltd. |
1/F., |
975326 |
HISTORY
The subject was incorporated on 23rd November, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 12/F., Astoria Building, 24-38 Ashley Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in November 2007.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: Household goods, electronic products, electrical appliances, toys and sundry products.
Employees: 8.
Commodities Imported: Mainly imported from
Markets: Asian countries, Middle East, etc.
Annual Turnover: HK$90-95 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C and D/P.
MEMBERSHIP
The Indian Chamber of Commerce Hong Kong,
FINANCIAL INFORMATION
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000.00
Mortgage or Charge:-
Date of Lien and Set-Off Agreement: 26-08-2008
Amount: Loans, credit financial accommodation and facilities
Property: Fixed Deposit Receipt No.: DFN0091588
Value Date: 26-08-2008
Principal Amount: HK$542,236.85
Maturity Date: 26-11-2008
Mortgagee: HBZ
Finance Ltd.,
Profit & Loss: Too early to offer an opinion.
Condition: Business is still under development.
Facilities: Rather actively using general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers:-
Indian Overseas Bank, Hong Kong Branch.
HBZ Finance Ltd.,
Standing: Moderate.
GENERAL
Having issued 100,000 ordinary shares of HK$1.00 each, Acemark
Distributors Ltd. is wholly owned by Mr. Rajkumar Naraindas Sabnani who is an
Indian. He is a Hong Kong ID card
holder and has been in
The subject got an affiliated company Acemark Exports (H.K.) Ltd. [Acemark Exports] which was located at the subject’s old operating address. However, this firm was dissolved on 26th October, 2007.
Acemark Exports was a private limited company also chiefly owned by Mr. Sabnani. Acemark Exports was incorporated on 30th July, 1992.
The subject and is a trading firm dealing in electronic
products, electrical appliances, kettles, stainless home appliances, cookware,
household goods and other sundry products.
Commodities are mainly imported from
Currently, the subject has set up an office in
The subject’s owner Mr. Sabnani always back to his motherland because of handling business concerns.
Since the history of the subject is just over a year, consider it good for normal business engagements on L/C basis for the time being.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.89 |
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1 |
Rs.70.84 |
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Euro |
1 |
Rs.67.37 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)