MIRA INFORM
REPORT
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Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
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Name : |
APPLE
COMMODITIES LTD. |
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Registered Office : |
c/o HKBSS
Ltd., Unit 3B, 20/F., |
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Country : |
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Date of Incorporation : |
27.03.2009 |
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Com. Reg. No.: |
50498061 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Steel, coal, construction materials, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
APPLE COMMODITIES LTD.
Company ADDRESs
c/o Regus Business Services (HK) Ltd.
2/F., Shui On Centre,
PHONE: 2824 8888
FAX: 2824 8000
E-MAIL: hkg@applegroup.co.in
MANAGEMENT
Managing Director: Mr. Ashish Narendra Garg
SUMMARY
Incorporated on: 27th March, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$77,500,000.00
Issued: HK$77,500,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Office:-
c/o HKBSS Ltd.
Unit 3B, 20/F.,
Head Office:-
c/o Regus Business Services (HK) Ltd.
2/F., Shui On Centre,
Holding Company:-
Apple Commodities Private Ltd.,
Subsidiary & Associated
Companies:-
Apple Group of Companies
Apple Buildtech Ltd.,
Apple Commodities Ltd.,
Apple Industries Ltd.,
Apple Insurance Brokers Pvt. Ltd.,
Apple Power Ltd.,
Apple Rolling Mills Ltd.,
Apple Sponge & Power Ltd.,
P.T. Apple Coal
etc.
BUSINESS REGISTRATION NUMBER
50498061
COMPANY FILE NUMBER
1328343
MANAGEMENT
Managing Director: Mr. Ashish Narendra Garg
CAPITAL
Nominal Share Capital: HK$77,500,000.00 (Divided into 77,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$77,500,000.00
SHAREHOLDER
(As per registry
dated 16-03-2011)
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Name |
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No. of shares |
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Apple Commodities Private Ltd. B-16,
Sector-2, Noida 201301, |
|
77,500,000 ======== |
DIRECTORS
(As per registry
dated 27-03-2010)
|
Name (Nationality) |
Address |
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Ankit GARG |
10-A, New Mandi, Muzaffarnagar,
U.P., |
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Ashish Narendra GARG |
F-22, Model Town II,
Delhi-110009, |
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Nischal JAIN |
P-62, South Extn-II, New
Delhi-110049, |
SECRETARY
(As per registry
dated 27-03-2010)
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Name |
Address |
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HKBSS Ltd. |
20/F., |
0838155 |
HISTORY
The subject was incorporated on 27th March, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating address. Formerly, its operating address was located at 21/F., ICBC Tower, Citibank Plaza, 3 Garden Road, Central, Hong Kong where is the operating address of a commercial service provider Regus Business Services (HK) Ltd. [Regus]. Regus has moved to the present address in recent years, so did the subject.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Steel, coal, construction materials, etc.
Employees: Nil.
Commodities Imported:
Markets:
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$77,500,000.00 (Divided into 77,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$77,500,000.00
Alternation of Capital:-
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Initially |
paid up |
HK$ 31,200,000.00 |
|
16-03-2011 |
paid up |
HK$ 46,300,000.00 |
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–––––––––––––––– |
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Total: |
paid up |
HK$ 77,500,000.00 ============== |
Increase of Nominal Capital:-
|
From |
HK$31,200,000.00 |
to |
HK$77,500,000.00 |
on |
16-03-2011 |
Mortgage or Charge: (See attachment)
Profit or Loss: Keeping
a balance account in
Condition: Business
is not active in
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
· Indian Overseas Bank, Hong Kong Branch.
·
Bank of
Standing: Small.
GENERAL
Having issued 77.5 million ordinary shares of HK$1.00 each, Apple Commodities Ltd. is wholly owned by Apple Commodities Private Ltd. which is an India-based firm.
The
subject’s operating address is in a commercial service centre located at 2/F.,
Shui On Centre,
The
subject is a member of the Apple Group of Companies which is one of the leading
conglomerates of
The
subject owns coal mines in the South Sumatra, Indonesia and is running
concession in the East and
The
subject has already started mining and is expecting to achieve a turnover of US$140
to 150 million annually. It is planning
to acquire coal mines in
The
Apple Group is engaged in international trade, construction, manufacturing and other
lines of businesses. The Group comprises
of eight companies which operates in different sectors such as steel, coal, construction,
insurance, power and energy, commodities trading, etc. Its offices, factories and other assets are
located in different parts of
It
is likely that the
The
subject’s business in
Since
the subject does not have its own operating office and has no employees in
COURT CASES: None per our.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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31-07-2009 |
Instrument: Undertaking Relating to Deposits Property: Distinctive
No. of Receipt: 2009 FD 136 1 Mortgagee: Indian Overseas Bank, Hong Kong Branch. |
All liabilities |
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28-09-2009 |
Instrument: Charge Property: 1) By way of first fixed charge the Debts and Inventory 2) By way of first fixed charge the Account and all monies standing to the credit of the Account 3) By way of first floating charge its undertaking and all its property, assets and rights Mortgagee: Bank of |
As a continuing security for the payment and discharge of the Secured Obligations |
|
09-10-2009 |
Instrument: Memorandum Property: Distinctive 91210300003418 28-09-2009 US$700,000.00 29-03-2010 Mortgagee: Bank of |
Loan or credit or other facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.22 |
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|
1 |
Rs.72.26 |
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Euro |
1 |
Rs.63.90 |
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 |
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.