MIRA
INFORM REPORT
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Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
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Name : |
GOLDTEX LTD. |
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Registered Office : |
Room 401-403, 4/F., Houston Centre, 63 Mody Road, Tsimshatsui East,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
31.08.2001 |
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Com. Reg. No.: |
32076817 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Wholesaler, Exporter and Re-exporter of Textiles, fabrics,
headgear, footwear, watches and clocks, travel goods and handbags, optical
goods, spectacles, tableware, kitchenware, electronic products, and other
light industrial products. |
RATING & COMMENTS
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MIRAs 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 : |
No Complaints |
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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, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
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 and address
GOLDTEX LTD.
ADDRESS: Room 401-403, 4/F., Houston
Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.
PHONE: 2541 4566~7, 2541 0671~3
FAX: 2541 2640, 2541 4228
E-MAIL: ashoku@canrich.com
MANAGEMENT
Managing Director: Mr. Ashok
Kumar Uttamchandani
SUMMARY
Incorporated on: 31st
August, 2001.
Organization: Private
Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Importer, Wholesaler and Exporter.
Employees:
25. (Including associate)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 401-403, 4/F., Houston Centre, 63 Mody Road, Tsimshatsui East,
Kowloon, Hong Kong.
Associated Companies:-
Canrich Apparels Ltd., Hong Kong.
[Dissolved]
Canrich Industries Ltd., Hong Kong.
(Same address)
Fens International (Taiwan) Ltd., Taiwan.
BUSINESS REGISTRATION NUMBER
32076817
COMPANY FILE NUMBER
0768442
MANAGEMENT
Managing Director: Mr. Ashok
Kumar Uttamchandani
CAPITAL
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
SHAREHOLDERS
(As per registry dated 31-08-2010)
|
Name |
|
No. of shares |
|
Ashok Kumar UTTAMCHANDANI |
|
4,000,000 |
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Yogesh Ashok UTTAMCHANDANI |
|
1,000,000 |
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|
|
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Total: |
5,000,000 ======= |
DIRECTORS
(As per registry dated 31-08-2010)
|
Name (Nationality) |
Address |
|
Yogesh Ashok UTTAMCHANDANI |
Flat A, 11/F., Elegant Garden, 11 Conduit Road, Mid Levels, Hong Kong. |
|
Ashok Kumar UTTAMCHANDANI |
Flat A, 11/F., Elegant Garden, 11 Conduit Road, Mid Levels, Hong Kong. |
SECRETARY
(As per registry dated 31-08-2010)
|
Name |
Address |
Co. No. |
|
Bamic Consultancy Ltd. |
Room 704, 7/F., Fourseas Building, |
0266468 |
HISTORY
The subject was incorporated on 31st August, 2001 as a private limited
liability company under the Hong Kong Companies Ordinance.
Initially the subject was located at Room 502-503, 5/F., Silvercord
Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present
address in April 2002.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Wholesaler, Exporter and Re-exporter.
Lines: Textiles,
fabrics, headgear, footwear, watches and clocks, travel goods and handbags,
optical goods, spectacles, tableware, kitchenware, electronic products, and
other light industrial products.
Employees: 25. (Including associate)
Materials/Commodities Imported:-
Raw materials Europe, India, etc.
Finished products China, Japan and other Asian countries and acquired
from local suppliers.
Markets: Middle
East, USA, South America, Africa, etc.
Terms/Sales: L/C or
as per contracted.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$5,000,000.00
(Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
Alternation of Capital:-
|
31-08-2001 |
paid up |
HK$ 2.00 |
|
17-09-2001 |
paid up |
HK$ 9,998.00 |
|
29-09-2001 |
paid up |
HK$ 2,990,000.00 |
|
17-04-2007 |
paid up |
HK$ 2,000,000.00 |
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|
|
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Total: |
paid up |
HK$ 5,000,000.00 ============== |
Increases of Nominal Capital:-
|
From |
HK$ 10,000.00 |
to |
HK$4,000,000.00 |
on |
29-09-2001 |
|
From |
HK$4,000,000.00 |
to |
HK$5,000,000.00 |
on |
17-04-2007 |
Mortgage or Charge (since 2008):
(See attachment)
Profit or Loss: Made
small profits in the past years.
Condition: Keeping
in an rather active state.
Facilities: Making
active use of general banking facilities.
Payment:
Met as
required.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Delta Asia Credit Ltd., Hong Kong.
Commonwealth Finance Corporation Ltd.,
Hong Kong.
HBZ Finance Ltd., Hong Kong.
Bank of Baroda, Hong Kong Branch.
Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Standing:
Normal.
GENERAL
Having issued 5 million ordinary shares of HK$1.00 each, Goldtex Ltd. is
jointly owned by Mr. Ashok Kumar Uttamchandani, holding 20% stake, and
Mr. Ashok Kumar Uttamchandani, holding 80%. Both of them are Indian merchants and have
been in Hong Kong for a very long time.
They are also directors of the subject.
The subject is engaged in importing, wholesaling, exporting or
re-exporting the following commodities: textiles (raw materials, fabrics,
yarns, threads and fibres), clothing (knitted, woven, leather and furskins),
clothing accessories, headgear, footwear, watches and clocks, travel goods and
handbags, optical goods, spectacles, non-electric household articles,
tableware, kitchenware and utensils, electric household articles, electronic
household articles, audio and video equipment, radios, lighting fixtures and
fittings, gift and premiums, Christmas decorations, artificial flowers and
plants, toys, games, plastic products, ceramic products, wood products, glass
and glassware, rubber products, miscellaneous light industrial products, paper
and paperboard, articles of paper, stationery, cosmetics, toiletries,
perfumery, soaps, cleaning agents, pharmaceutical products, chemicals (organic
and inorganic), dyes, pigments, colouring matter, paints, inks, etc. In recent years, the subject has been
concentrating on garment trading such as jackets, jeans, trousers, underwear,
suits, etc.
The subject has got an associate Canrich Industries Ltd. [Canrich
Industries] located at the same address.
Incorporated on 10th March, 1987, Canrich Industries is partly owned by
Mr. Ashok Kumar Uttamchandani. This firm
is importing and re-exporting ready made garments, textiles, shoes, bags.
household appliances, toys, food products, etc.
Canrich Industries has offices/associates in Taiwan, the United States,
Egypt, Lome (Togo), Panama Cotonou (Benin), Iquique (Chile), etc. It has developed business ties with a number
of suppliers and overseas customers.
Business has been active.
As the history of the subject is about ten years in Hong Kong, on the
whole, consider it good for normal business engagements.
REMARKS
Property information of
the company:-
Property Location: Unit 1 & 2 on 4/F., Houston
Centre, 63 Mody Road, Kowloon, Hong Kong.
Owner: Goldtex Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
23-07-2003 |
- |
Delta Asia Credit Ltd., Hong Kong. |
Mortgage to secure general credit facilities |
MORTGAGE OR CHARGE
(Since 2008)
|
Date |
Particulars |
Amount |
|
13-11-2008 |
Instrument: Lien and Set-Off Agreement Property: Fixed Deposit DFN0111940 13-11-2008 US$213,454.41 13-02-2009 Mortgagee: HBZ Finance Ltd., Hong Kong. |
Loans, credit financial accommodation and facilities |
|
24-11-2008 |
Instrument: Memorandum Property: Distinctive 91220300000369 30-09-2008 US$546,752.77 28-09-2009 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loans or credit or other facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.27 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
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 |
|
<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 SCs 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.