MIRA INFORM REPORT

 

 

Report Date :

17.12.2011

 

IDENTIFICATION DETAILS

 

Name :

SWALS  EXIM  PVT.  LTD.

 

 

Registered Office :

Room 13, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yau Ma Tei, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

15.10.2008

 

 

Com. Reg. No.:

39889748

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of Garments, home textiles, etc.

 

 

No. of Employees :

2.  (Including associate)

 

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 30, 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

 

SWALS  EXIM  PVT.  LTD.

 

 

Company ADDRESS    

 

Room 13, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yau Ma Tei, Kowloon, Hong Kong.

 

PHONE:            2377 4436,  2376 7119

 

FAX:                 2377 4055

 

 

MANAGEMENT

 

Managing Director:  Mr. Sandeep Jagdishprasad Agrawal

 

 

SUMMARY

 

Incorporated on:             15th October, 2008.

 

Organization:                  Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Garment Trader.

 

Employees:                   2.  (Including associate)

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

company ADDRESS

 

Registered Head Office:-

Room 13, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yau Ma Tei, Kowloon, Hong Kong.

 

Associated Company:-

Swals Exim Pvt. Ltd., India.

 

Affiliated Companies:-

Cosmos Ltd., Hong Kong.  (Same address)

Traderslink International Co. Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

39889748

 

 

COMPANY FILE NUMBER

 

1279795

 

 

MANAGEMENT

 

Managing Director:  Mr. Sandeep Jagdishprasad Agrawal

 

 

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 15-10-2010)

 

Name

 

No. of shares

Sandeep Jagdishprasad AGRAWAL

 

10,000

=====

 

DIRECTOR    

(As per registry dated 15-10-2010)

 

Name

(Nationality)

 

Address

Sandeep Jagdishprasad AGRAWAL

601, Sundervan Sankul, Lokhandwala Sankul, Andheri West, Mumbai-400058, India.

 

 

SECRETARY 

(As per registry dated 15-10-2010)

 

Name

Address

Co. No.

Buttar.HK Ltd.

1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.

0975326

 

 

HISTORY

 

The subject was incorporated on 15th October, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at 1/F., Mau Lam Commercial Building, 16‑18 Mau Lam Street, Jordan, Kowloon, Hong Kong where is the operating address of Buttar.HK Ltd.  Buttar.HK Ltd. is a commercial service provider.  The subject moved to Room 513, 5/F., Beverly Commercial Centre, 87‑105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong with effect from 28th September, 2009 and further to the present address in November 2010.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           Garments, home textiles, etc.

 

Employees:                   6.  (Including associate)

 

Commodities Imported:   China, other Asian countries or acquired from local suppliers.

 

Markets:                       Middle East, Africa, Europe, North America, etc.

 

Terms/Sales:                 As per contracted.

 

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

 

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

 

Mortgage or Charge:-

Date of  Lien & Set-Off Agreement:  17-09-2010

Amount:            For securing general credit facility

Property:           Deposit No.:  DFN0070766 & DFN0090946
Amount:  HK$100,499.26 & US$25,000.00
Maturity Date:  15-10-2010 & 06-12-2010

Mortgagee:        HBZ Finance Ltd., Hong Kong.

 

Profit or Loss:                Made a small profit in 2010.

 

Condition:                      Business is normal.

 

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

 

Swals Exim Pvt. Ltd. is wholly-owned by Mr. Sandeep Jagdishprasad Agrawal who is an Indian.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  Agrawal is also the only director of the subject.

The subject is in a residential building.

Incorporated in October 2008, the subject is trading in Garments, home textiles, etc.  The subject is trading in the following commodities:

·         Suits & Jackets - Men’s

·         Suits & Jackets - Women’s

·         Children’s Wear

·         Blouses

·         Denim Garments

·         Dresses & Skirts

·         Shirts

·         Trousers & Slacks

Commodities are sourced from China, other Asian countries or acquired from local suppliers.  Prime markets are the Middle East, some African countries, Europe, North America, etc.

Besides, Sandeep Jagdishprasad Agrawal is operating a website offering clients with consultancy services on garment industry.  Its business scope includes the following:-

·         Forming joint ventures for two parties

·         Sourcing garments for buyers

·         Arranging warehousing and shipping for customers

etc.

The subject has got an associated company also known as Swals Exim Pvt. Ltd. [India Swals Exim] in Mumbai, India.

India Swals Exim is an India-based firm established in 2002.  It is a manufacturer and exporter of all kinds of garments.  Having its associates all over the world, India Swals Exim has been in this industry for more than 15 years.  India Swals Exim is trading in casual wear, knitwear, men’s wear, shirts, T-shirts (men’s, ladies’, girls’ and boys’), ladies’ garments, etc.  It carries the following brand names: “Van-Heusen”, “Ravel”, “Baja”, etc.  Swals Exim has about 25 employees.  Annual sales turnover ranges from US$0.7 to 0.9 million.

Sandeep Jagdishprasad Agrawal is also the Managing Director of India Swals Exim.

Another affiliated company Cosmos Ltd. is also located at the subject’s operating address.

The history of the subject is over three years and a month.

On the whole, consider it good for normal business engagements in small credit amounts.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.81

UK Pound

1

Rs.82.00

Euro

1

Rs.68.81

 

 

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.