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MIRA
INFORM REPORT
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Report Date : |
23.10.2008 |
IDENTIFICATION DETAILS
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Name : |
EASTEXPORT ENTERPRISES
(H.K.) LTD. |
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Registered Office : |
9/F., |
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Country : |
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Date of Incorporation : |
20.07. 1982. |
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Com. Reg. No.: |
8344767 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Fabrics and Garments, etc. |
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
EASTEXPORT
ENTERPRISES (H.K.) LTD.
ADDRESS
9/F., S.B.
Commercial Building, 478 Nathan Road, Yau Ma Tei, Kowloon, Hong Kong.
PHONE: 2385 5073
FAX: 2780 1255
E-MAIL: prem@eastexport.com.hk
[Your enquiry given as: EAST EXPORT
ENTERPRISES (HK) LTD of the same address. ]
MANAGEMENT
Managing
Director: Mr. Prem Kumar Arthal Candoth
SUMMARY
Incorporated on: 20th July, 1982.
Organization: Private Limited Company.
Capital: Nominal: HK$4,500,000.00
Issued: HK$4,500,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$80-85 million.
Employees: 10.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Registered Head Office:-
9/F.,
S.B. Commercial Building, 478 Nathan Road, Yau Ma Tei, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
8344767
COMPANY FILE NUMBER
114537
MANAGEMENT
Managing
Director: Mr. Prem Kumar Arthal Candoth
CAPITAL
Nominal Share
Capital: HK$4,500,000.00 (Divided into 4,500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$4,500,000.00
SHAREHOLDERS
(As per registry dated 20-07-2008)
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Name |
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No. of shares |
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Prem
Kumar ARTHAL CANDOTH |
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4,499,999 |
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Geeta KUMAR |
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1 |
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–––––––– |
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Total: |
4,500,000 ======= |
DIRECTORS
(As per registry dated 20-07-2008)
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Name (Nationality) |
Address |
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Prem Kumar
ARTHAL CANDOTH |
Flat B, 1/F., Block 5, King’s Park Villa,
1 King’s Park Rise, Homantin, Kowloon, Hong Kong. |
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Geeta KUMAR |
Flat B, 1/F., Block 5, King’s Park Villa,
1 King’s Park Rise, Homantin, Kowloon, Hong Kong. |
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Alphanom
Ltd. |
Room 2004-2006, 20/F., Eastern Commercial Centre, 397 Hennessy Road,
Wanchai, Hong Kong. |
SECRETARY
(As per registry dated 20-07-2008)
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Name |
Address |
Co. No. |
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Alphanom Ltd. |
Room 2004-2006, 20/F.,
Eastern Commercial Centre, 397 Hennessy Road, Wanchai, Hong Kong. |
111245 |
HISTORY
The
subject was incorporated on 20th July, 1982 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally
the subject was registered under the name of Corrimal Ltd., name changed to the
present style on 24th May, 1983.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Fabrics and Garments, etc.
Employees: 10.
Commodities Imported: China, South Korea, India, Taiwan, etc.
Markets: Southeast Asia, Australia, East Asia, etc.
Annual Turnover: HK$80-85 million.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$4,500,000.00 (Divided into 4,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$4,500,000.00
Mortgage or Charge (since 1996): (See attachment)
Profit & Loss: Business is rather profitable.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Canara Bank, Hong Kong Branch.
Indo Hong Kong International Finance Ltd., Hong Kong.
Standing: Good.
GENERAL
Incorporated
in July 1982, Eastexport Enterprises (H.K.) Ltd. is wholly-owned by Mr. Prem
Kumar ARTHAL CANDOTH who is a Hong Kong ID Card holder. He has had the right to reside in Hong Kong
permanently. He and Mr. Geeta KUMAR are
the directors of the subject. Mr. Geeta
KUMAR is also a Hong Kong ID Card holder.
The
subject is trading in the following commodities:
·
Yarns, Piecegoods and Textiles
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Piecegoods — Blended
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Piecegoods — Vegetable Fibre
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Garments (Men’s, Women’s and Children’s)
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Trousers and Slacks — Slacks, Trousers
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Shirts
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Dresses and Skirts
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Denim Garments — Jeans
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Blouses
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Children’s Wear
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Suits and Jackets — Women’s
o
Suits and Jackets — Men’s
Piecegoods
are imported from Taiwan, India, South Korea, etc. while garments are imported
from China. Prime markets are Southeast
Asia, Australia, East Asia, etc.
Business is rather active.
Regular suppliers and clients have been maintained. Annual sales turnover ranges from HK$80 to 85
million. Making a profit every year.
The
subject’s business is administered by the directors of the subject. History is over 26 years in Hong Kong.
On the whole,
consider the subject good for normal business engagements.
REMARKS
Court case record:-
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Date |
Plaintiff |
Defendant |
Cause |
Amount |
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Dec. 1991 |
Kong Sun Weaving Factory Ltd. |
Eastexport Enterprises (H.K.) Ltd. |
Damages |
Not stated |
Property
information of the company:-
Property Location: 9/F., S.B. Commercial Building, 478 Nathan Road,
Kowloon, Hong Kong.
Owner: Eastexport Enterprises (H.K.) Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
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Date of
Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
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07-10-1998 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
(Since 1996)
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Date |
Particulars |
Amount |
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29-04-1996 |
Instrument: Undertaking
Relating to Deposits Property: Receipt No.: 2096 Mortgagee: Indo
Hong Kong International Finance Ltd., Hong Kong. |
All moneys |
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07-10-1998 |
Instrument: Mortgage Property: 3/108th parts or shares of and in Kowloon Inland
Lot Nos. 3642 & 3641 (9/F. of S.B. Commercial Building, 478 Nathan Road,
Kowloon, Hong Kong.) Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
To secure general banking facilities |
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29-06-2007 |
Instrument: Undertaking
Relating to Deposits Property: Receipt No.: KD.19.2007 Mortgagee: Canara
Bank, Hong Kong Branch. |
General credit facility |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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%)