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MIRA
INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
WALAYAT INDUSTRIES (HK)
LTD. |
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Registered Office : |
C/o Companies Registrations & Secretary Ltd. Room 1701 (051), 17/F., Henan Building, 90 Jaffe Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.02.2010 |
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Com. Reg. No.: |
51792096 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Cotton yarns, textile products,
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 : |
Moderate |
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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
WALAYAT INDUSTRIES
(HK) LTD.
ADDRESS:
c/o Companies Registrations & Secretary Ltd.
Room 1701 (051), 17/F., Henan Building, 90 Jaffe Road, Wanchai,
Hong Kong.
PHONE: 5804 2046
FAX: 3115 8812
MANAGEMENT
Managing Director: Mr. Hussain
Butt
SUMMARY
Incorporated on: 8th February,
2010.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
c/o Companies Registrations & Secretary Ltd.
Room 1701 (051), 17/F., Henan Building, 90 Jaffe Road, Wanchai, Hong
Kong.
Associated Companies:-
Xiamen Naseen Import & Export Co. Ltd.
Xiamen Naseen Trade Co. Ltd.
Room 1216, Hai Xia Building, 9 Hu Bin Dong Road, Si Ming District,
Xiamen Special Economic Zone, China.
[Tel: 86-592-5186629; Fax:
86-592-5812570]
BUSINESS REGISTRATION NUMBER
51792096
COMPANY FILE NUMBER
1420667
MANAGEMENT
Managing Director: Mr. Hussain
Butt
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDER
(As per registry dated 08-02-2011)
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Name |
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No. of shares |
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Hussain BUTT |
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10,000 ===== |
DIRECTOR
(As per registry dated 08-02-2011)
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Name (Nationality) |
Address |
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Hussain BUTT |
Room 1216, Hai Xia Building, 9 Hu Bin Dong Road, Si Ming District,
Xiamen Special Economic Zone, China. |
SECRETARY
(As per registry dated 08-02-2011)
|
Name |
Address |
Co. No. |
|
Companies Registrations & Secretary Ltd. |
Room 1701, 17/F., Henan Building, 90 Jaffe Road, Wanchai, Hong Kong. |
1303515 |
HISTORY
The subject was incorporated on 8th February, 2010 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Cotton
yarns, textile products, etc.
Employees: Nil.
Commodities Imported: India, Pakistan, Indonesia, Vietnam, Taiwan, O’zbekiston Respublikasi, etc.
Markets: China,
other Asian countries, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided
into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
GENERAL
Walayat Industries (HK) Ltd. is wholly-owned by Mr. Hussain Butt who is
a Pakistani merchant. He is an Pakistan
passport holder and does not have the right to reside in Hong Kong permanently. Currently Butt is residing in Xiamen Special
Economic Zone, China.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 1701 (051), 17/F., Henan Building, 90 Jaffe Road,
Wanchai, Hong Kong known as Companies Registrations & Secretary Ltd. which
is handling its correspondences and documents.
Companies Registrations & Secretary Ltd. is also the corporate
secretary of the subject.
The subject has no employees in Hong Kong.
To our knowledge, the subject has had two associated companies in Xiamen
Special Economic Zone, China known as Xiamen Naseen Trade Co. Ltd. and Xiamen
Naseen Import & Export Co. Ltd. (jointly referred to
“Xiamen Nassen”). Xiamen Naseen is
trading in the following commodities: cotton yarns, fabrics, garments, towels,
bed sheets, marble, raw leather, shoes, auto-parts, etc.
Xiamen Naseen also imports cotton yarns from India, Pakistan, Indonesia,
Vietnam, Taiwan, O’zbekiston Respublikasi, etc.
Products are marketed in China.
It also exports China made products to worldwide countries.
The business of Xiamen Naseen is handled by Mr. Hussain Butt. He can be reached at his mobile phone number
86-13400609973.
It is likely that Xiamen Naseen deals with foreign parties under the
name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong. Xiamen
Naseen also exports commodities to foreign markets under the name of the
subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not very active.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
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|
1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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 |
-- |
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.