MIRA
INFORM REPORT
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Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
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Name : |
UNISILK LTD |
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Registered Office : |
Room 1635, 16/F., Star House, |
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Country : |
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Date of Incorporation : |
09.05.1986 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter, Transhipment Agent, Confirming
House, Investment Holding. |
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 : |
No Complaints |
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Litigation : |
Exists |
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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
UNISILK LTD.
ADDRESS
Room 1635, 16/F., Star House,
PHONE: 2735
7758, 2735 7759
FAX: 2730
0946, 2730 1817
E-MAIL: unisilk@hkg.com
globals@netvigator.com
MANAGEMENT
Managing Director: Mr. Madhur Dugar
SUMMARY
Incorporated on: 9th May, 1986.
Organization: Private Limited Company.
Capital: Nominal: HK$39,400,000.00
Issued: HK$39,400,000.00
Business Category: Trading
and Investment Holding.
Annual Turnover: HK$35~40 million.
Group Employees: 10.
Main Dealing Banker: Indian
Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Registered
Head Office:-
Room 1635, 16/F., Star House,
Business
Names:- (Same BR No.)
Alpine Silk,
Alwynco,
Amersonic International,
Concentra,
Great
Hong Kong Yaten,
Intexport,
Lightex,
Polychemin,
Sabko International,
Shanghai Shibang Machinery Company,
Success Engineering,
Texchemie,
Associated Companies
Amersonic International Ltd.,
Interchem,
BUSINESS REGISTRATION NUMBER: 10548309-000-05
COMPANY FILE NUMBER:
0169007
MANAGEMENT
Managing Director: Mr. Madhur Dugar
CAPITAL
Nominal Share Capital: HK$39,400,000.00 (Divided into
394,000 shares of HK$100.00 each)
Issued Share Capital: HK$39,400,000.00
SHAREHOLDERS
(As
per registry dated 09-05-2011)
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Name |
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No.
of shares |
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Madhur DUGAR |
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122,442 |
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Sajjan DUGAR |
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271,558 |
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––––––– |
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Total: |
394,000 ====== |
DIRECTORs
(As
per registry dated 09-05-2011)
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Name (Nationality) |
Address |
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Sajjan DUGAR |
Flat A3-4, 9/F., |
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Madhur DUGAR |
Flat A3-4, 9/F., |
SECRETARY
(As
per registry dated 09-05-2011)
|
Name |
Address |
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Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Cenmtre, |
0113023 |
HISTORY
The subject was incorporated on 9th May, 1986 as a private
limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1615, 16/F., Star
House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong, moved to the
present address in June 2004.
Apart from these, neither material change nor amendment has
been ever traced and noted.
OPERATIONS
Activities: Importer
and Exporter; Transhipment Agent; Confirming House; Investment Holding.
Lines: Silk
(raw silk, SNY, tussah silk, SSY, etc.); plastic raw materials (ABS, PP, PE,
HDPE, etc.); audio/video/TV/computer components; iron ore, manganese ore, high
carbon ferro-chrome; finished steel (HR colis, billets, deformed bars,
etc.); chemicals (industrial and pharmaceutical); cement; coal; edible oils;
plant, machineries, technical know-how; yarns & fibers (cotton, polyester,
acrylic, etc.); etc.
Group Employees: 10.
Commodities Imported: Imported
from
Markets:
Annual Turnover: HK$35~40 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: On various terms.
MEMBERSHIP
The Indian Chamber of Commerce,
FINANCIAL INFORMATION
Nominal Share Capital: HK$39,400,000.00 (Divided into 394,000 shares
of HK$100.00 each)
Issued Share Capital: HK$39,400,000.00
Mortgage or Charge (since 2009): (See attachment)
Profit or Loss: Traded
at a profitable angle.
Condition: Keeping
in an active and satisfactory manner.
Facilities: Making active
use of general banking facilities.
Payment: So far regular.
Commercial Morality: Good.
Bankers:
Indian Overseas Bank, Hong Kong Branch.
Bank of
Credit Agricole Corporate & Investment Bank,
Hong Kong Branch.
UCO Bank, Hong Kong Branch.
The Hongkong & Shanghai Banking Corp. Ltd.,
Standard Chartered Bank (Hong Kong) Ltd.,
BNP Paribas, Hong Kong Branch.
Standing: Good.
GENERAL
Having issued 394,000 ordinary shares of HK$100.00 each,
Unisilk Ltd. is jointly owned by Mr. Madhur Dugar, holding 31.1% interests; and
Mr. Sajjan Dugar, holding 68.9%.
The subject has the following business names:-
- Alpine Silk
- Alwynco
- Amersonic
International
- Concentra
- Great
- Hong Kong
Yaten
- Intexport
- Lightex
- Polychemin
- Sabko
International
- Shanghai
Shibang Machinery Company
- Success
Engineering
- Texchemie
The subject and its subsidiaries are trading in the following
commodities: Tiles – Porcelain/Ceramic, Decorative, Car Tyres, Machine –
Grinding, Aluminium (Aluminium coil), DVD Player/Recorder, VCD Player,
Partition – Aluminium (Aluminium composite panel), Building Material – Glass
(Glass, black and reflective glass), Marble – Cutting and Polishing, Tiles and
Coverings (Laminated flooring), Plastic Materials (including Resins and Sheet),
etc. The subject’s plastic resins are
imported from
Incorporated on 9th May, 1986, the subject is experienced in
sourcing a wide range of products catering many different industries. Besides the above‑mentioned
commodities, it is trading in many different kinds of products such as
electronics, electric appliances, electrical products, marble, building
materials, grinding machinery, stationery, skin care products, silk and silk
fabrics, chemicals, etc. The subject has
set up a number of subsidiaries in order to trade different products.
Owned by the Dugar family, the subject has set up offices in
The subject is a member of The Indian Chamber of Commerce
Hong Kong,
The directors of the subject are Mr. Sajjan Dugar and Mr.
Madhur Dugar. Both of whom are Hong Kong
ID Card holders and have got the right to reside in
The annual sales turnover of the subject ranges from HK$35
to 40 million. Making a small profit
every year.
The history of the subject in
On the whole, consider it good for normal business
engagements.
REMARKS
Court case record:-
|
Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
Sept. 1994 |
H9709 |
Winner King Ltd. |
Unisilk Ltd. |
Possession |
Not stated |
MORTGAGE OR CHARGE
(Since 2009)
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Date |
Particulars |
Amount |
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26-08-2009 |
Instrument: Memorandum Property: Distinctive 91210300003165 29-06-2009 US$
60,430.36 29-12-2009 Mortgagee: Bank
of |
Loan or credit or other facilities available to Unisilk
Ltd., Amersonic International Ltd. and Great China Alliance Ltd. |
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02-02-2010 |
Instrument: Undertaking
Relating to Deposits Property: Distinctive Date
of Amount Rate of Maturity 2009 FD 488 1 29-01-2010 US$100,000.00 0.49% 29-04-2010 Mortgagee: Indian
Overseas Bank, Hong Kong Branch. |
All and any liabilities |
|
03-01-2011 |
Instrument: Undertaking
Relating to Deposits Property: Distinctive Date
of Amount Rate of Maturity 2010 FD 377 1 02-12-2010 €
80,000.00 0.4375% 02-03-2011 Mortgagee: Indian
Overseas Bank, Hong Kong Branch. |
All and any liabilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.27 |
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|
1 |
Rs.73.34 |
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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 |
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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.