MIRA INFORM REPORT
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Report Date : |
10.12.2011 |
IDENTIFICATION DETAILS
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Name : |
PCI
ASIA PACIFIC PRIVATE
LTD. |
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Registered Office : |
c/o Asian Corporate Services Ltd., Unit 801, 8/F., Pacific House, 20 Queen’s Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.10.2008 |
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Com. Reg. No.: |
39863932 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Machinery and equipment, precision hi-tech products, software, etc. |
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No. of Employees
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Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating in Hong Kong |
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Payment
Behaviour : |
---- |
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Litigation : |
---- |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
PCI ASIA
PACIFIC PRIVATE LTD.
Company ADDRESS
c/o Asian Corporate Services Ltd.
Unit 801, 8/F., Pacific House, 20 Queen’s Road Central, Hong Kong.
PHONE: 2877 2290
FAX: 2877 1319
MANAGEMENT
Managing Director: Mr. Prem Lal Madan
SUMMARY
Incorporated on: 2nd October, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$1,601,500.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: Canara Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
c/o Asian Corporate Services Ltd.
Unit 801, 8/F., Pacific House, 20 Queen’s Road Central, Hong Kong.
Holding Company:-
PCI Ltd., India.
Associated
Companies:-
Prime Group of Companies
· Endolite India Ltd., India.
· ISHWAR Society, India.
· PCI Europe GmbH, Germany.
· PCI Leasing & Financing Ltd., India.
· PCI Middle East FZE, UAE.
· Planet PCI Infotech Ltd., India.
· Prime Electric Ltd., India.
· Prime Hi-Tech Engineering Ltd., India.
· Prime Hi-Tech Infrastructure Ltd., India.
· Prime Power Corporation Ltd., India.
· Prime SD Engineering Consultants Ltd., India.
· Riello PCI India Pvt. Ltd., India.
· RPI Middle East FZE, UAE.
· Skymaster Aviation Adventures Pvt. Ltd., India.
etc.
BUSINESS REGISTRATION NUMBER
39863932
COMPANY FILE NUMBER
1276980
MANAGEMENT
Managing Director: Mr. Prem Lal Madan
CAPITAL
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,601,500.00
SHAREHOLDER
(As per registry
dated 02-10-2011)
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Name |
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No. of shares |
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PCI Ltd. Prime Group Building, 11/5B, Pusa Road, New Delhi-110005, India. |
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1,601,500 ======= |
DIRECTORS
(As per registry
dated 02-10-2011)
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Name (Nationality) |
Address |
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Rohan MEHTA |
19, Rajendra Park, New Delhi 110060, India. |
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Prem Lal MADAN |
1123, IFFCO Colony, Sector 17B, Gurgaon Haryana-122001, India. |
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Vijay SARPAL |
6A/9, W.E.A. Karol Bagh, New Delhi 110005, India. |
SECRETARY
(As per registry
dated 02-10-2011)
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Name |
Address |
Co.
No. |
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Asian Corporate Services Ltd. |
Unit 801, 8/F., Pacific House, 20 Queen’s Road Central, Hong Kong. |
0178347 |
HISTORY
The subject was incorporated on 2nd October, 2008 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: Machinery and equipment, precision hi-tech products, software, etc.
Employees: Nil.
Commodities Imported: China, Japan, Europe, North America, etc.
Markets: India, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, 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$1,601,500.00
Mortgage or Charge:-
Date of Undertaking Relating to Deposits: 27-04-2011
Amount: “Liabilities” means all and any liabilities, sole or joint, actual or
contingent, quantified or not, now or hereafter owing or incurred to the Bank by the Depositor or the Third Party
Property: Receipt
No.: 2011-FD-50-1
Date: 27-04-2011
Amount: US$200,000.00
Rate of Interest: 0.43%
Maturity Date: 24-10-2011
Mortgagee: Canara Bank, Hong Kong Branch.
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: Canara Bank, Hong Kong Branch.
Standing: Small.
GENERAL
Having issued 1,601,500 ordinary shares of HK$1.00 each, PCI Asia Pacific Private Ltd. is a wholly-owned subsidiary of PCI Ltd. which is an India-based firm.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Unit 801, 8/F., Pacific House, 20 Queen’s Road Central, Hong Kong known as Asian Corporate Services Ltd. which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong. It is a member of the Prime Group which is India-based.
Prime Group started with its initial venture Prime Chemfert Industries Pvt. Ltd. (later renamed PCI Ltd. which is the holding company of the subject).
Over the years, the Prime Group has surged through continuous expansion, diversification and transformation of its initial venture into a varied field of Hi-tech Instrumentation for testing, measuring and condition monitoring, capital goods, precision engineering, geo-technology, information technology, power generation, lease-finance, imports and exports.
Today, the Group’s area of activities includes imports, manufacturing assembling and marketing of a wide range of high-tech equipment, instruments, and systems relating to power and other core sectors of the economy, capital goods relating to PCB assembly and testing, power conditioning systems, optical inspection and measurement systems, CNC machine tools, geo-technology equipments, precision engineering and software development.
The Group’s intensely motivated, highly qualified and trained manpower of more than over 1,500 professionals in its completely automated offices and marketing network spread all over the country. The Group having its offices in 36 locations spread a cross 17 major cities in the country and also 100% owned subsidiaries PCI Middle East FZE with its headquartered in Hamriyah Free Zone, Sharjah, the UAE, and PCI Europe GmbH, with its headquartered in Berlin, Germany, and the subject.
The Group has entered into technical and marketing collaborations with the world’s leading corporations to imbibe the latest innovations and technologies. The Group’s highly developed infrastructure serves as an efficient springboard in dissemination of the latest envelopments in areas of high technology throughout India and in the neighbouring countries, making the Group on the cutting edge of trends.
Mr. Vijay Sarpal, Executive Director and CFO of the Group.
It is likely that the Group deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. The Group 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 active. History in Hong Kong is over three years and two months.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.23 |
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UK Pound |
1 |
Rs.81.55 |
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Euro |
1 |
Rs.69.60 |
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.