MIRA INFORM REPORT

 

 

Report Date :           

12.12.2011

 

IDENTIFICATION DETAILS

 

Name :

PEGASUS  (H.K.)  LTD.

 

 

Registered Office :

Room 503C & D, 5/F., Harbour Crystal Centre, 100 Granville Road, Tsimshatsui East, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

23.04.2004

 

 

Com. Reg. No.:

34527616

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Manufacturer, Importer and Exporter of all kinds of lighting products.

 

 

No. of Employees :

5 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

PEGASUS  (H.K.)  LTD.

 

 

Company ADDRESS

 

Room 503C & D, 5/F., Harbour Crystal Centre, 100 Granville Road, Tsimshatsui East, Kowloon, Hong Kong.

PHONE:            2815 8028

FAX:                 2544 8463

E-MAIL:                        raj@pegasushkltd.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Lalwani Raj Arjan

 

 

SUMMARY

 

Incorporated on:             23rd April, 2004.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$12,000,000.00

Issued:              HK$8,000,000.00

 

Business Category:        Manufacturer, Importer and Exporter.

 

Employees:                   5.

 

Main Dealing Banker:     Bank of Baroda, Hong Kong Branch.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 503C & D, 5/F., Harbour Crystal Centre, 100 Granville Road, Tsimshatsui East, Kowloon, Hong Kong.

China Factory:  Nanhai, Foshan City, Guangdong Province, China.

 

Business Names:-  (Same BR No.)

·         Magicook (HK), Hong Kong.

·         Trident (HK), Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

34527616

 

 

COMPANY FILE NUMBER

 

0897075

 

 

MANAGEMENT

 

Managing Director:  Mr. Lalwani Raj Arjan

 

 

CAPITAL

 

Nominal Share Capital:   HK$12,000,000.00 (Divided into 12,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$8,000,000.00

 

 

SHAREHOLDERS

(As per registry dated 23-04-2011)

 

Name

 

No. of shares

Deepak Murlidhar MIRPURI

 

4,000,000

Arjan Shamdas LALWANI

 

1,200,000

Raj Arjan LALWANI

 

2,800,000

 

 

––––––––

 

Total:

8,000,000

=======

DIRECTORS

(As per registry dated 23-04-2011)

 

Name

(Nationality)

 

Address

Deepak Murlidhar MIRPURI

28/C., Block D, Regal Court, Longkou Xi Lu, Tianhe, Guangzhou, Guangdong Province, China.

 

Raj Arjan LALWANI

Flat B, 13/F., Block 3, Bauhinia Court, Worldwide Garden, 13 Lung Pak Street, Shatin, New Territories, Hong Kong.

 

 

SECRETARY 

(As per registry dated 23-04-2011)

 

Name

Address

Co. No.

Multi-Chain Ltd.

Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong.

0209214

 

 

HISTORY

 

The subject was incorporated on 23rd April, 2004 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:                      Manufacturer, Importer and Exporter.

 

Lines:                           All kinds of lighting products.

 

Employees:                   5.

 

Materials/Commodities:  Imports raw materials from European countries, some of the Asian countries and finished products from China.

 

Markets:                       Europe, Japan, India, other Asian countries, Australia, Africa, Middle East, South

America, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$12,000,000.00 (Divided into 12,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$8,000,000.00

 

Indebtedness:                HK$3,935,000.00  (Total amount outstanding on all mortgages and charges as per last

Annual Return dated 23-04-2011)

 

Mortgage or Charge

(since 2009):                 (See attachment)

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

·         Bank of Baroda, Hong Kong Branch.

·         HBZ Finance Ltd., Hong Kong.

 

Standing:  Normal.

 

 

GENERAL

 

Having issued 8,000,000 ordinary shares of HK$1.00 each, Pegasus (H.K.) Ltd. is jointly owned by Mr. Mirpuri Deepak Murlidhar, holding 50% interests; Mr. Lalwani Arjan Shamdas, holding 15%; and Mr. Lalwani Raj Arjan, 35%.  All of them seem to be Indian merchants.  The third is also the Managing Director of the subject.

The subject is a lighting product trader and manufacturer.  Its factory is in Nanhai, Foshan City, Guangdong Province, China.  The factory is engaged in manufacturing various kinds of down light fixtures and spot light fixtures.  The followings are some of the main products: LED sport light, sport light, mini chandeliers, ceiling lights, etc.  The subject’s products are approved by the CE and RoHS standard.  Products are exported to Europe, Japan, India, other Asian countries, Australia, Africa, the Middle East, South America, etc.  The China factory has about 230 persons.

The business of the subject is administered by Mr. Mirpuri Deepak Murlidhar who is currently residing in Guangzhou, Guangdong Province, China.  Overall business is satisfactory.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.  For instance, it is going to take part in “Hong Kong International Lighting Fair 2012 (Autumn Edition)” which will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 27th to 30th October, 2012.

As the history of the subject is over seven years and seven months in Hong Kong, on the whole, consider it good for normal business engagements.

 

REMARKS:

 

Property Location:              Office No. 503C & 503D on 5/F., Harbour Crystal Centre, 100 Granville Road, Kowloon, Hong Kong.

Owner:  Pegasus (H.K.) Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

19-02-2009

-

HBZ Finance Ltd., Hong Kong.

Mortgage to secure general credit facilities

 

MORTGAGE OR CHARGE

(Since 2009)

 

Date

Particulars

Amount

19-02-2009

Instrument:      Mortgage

Property:

6/3,100th parts or shares of and in Kowloon Inland Lot No. 10600 (Office No. 503C & 503D on 5/F. of Harbour Crystal Centre, 100 Granville Road, Kowloon, Hong Kong.)

Mortgagee:      HBZ Finance Ltd., Hong Kong.

To secure all moneys in respect of general credit facilities

15-10-2010

Instrument:      Memorandum

Property:

Distinctive
No. of Receipts         Date of Issue           Amount           Due Date

91210300004476       15-10-2010       HK$972,164.68      17-01-2011
91210300004477       15-10-2010       HK$649,698.43      17-01-2011

Mortgagee:      Bank of Baroda, Hong Kong Branch.

Loan or credit or other facilities

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.23

UK Pound

1

Rs.81.55

Euro

1

Rs.69.60

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.