MIRA INFORM REPORT

 

 

Report Date :           

28.12.2011

 

IDENTIFICATION DETAILS

 

Name :

SOUTH  ASIAN  TRADING  LTD.

 

 

Registered Office :

c/o SSD Corporate Services Ltd., 24/F., Central Tower, 28 Queen’s Road Central, Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

21.09.2006

 

 

Com. Reg. No.:

37397577

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer, Exporter and Wholesaler of Furniture, footwear, iron and steel, etc.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

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

 

SOUTH  ASIAN  TRADING  LTD.

 

 

Company ADDRESS

 

c/o SSD Corporate Services Ltd.

24/F., Central Tower, 28 Queen’s Road Central, Central, Hong Kong.

PHONE:            2103 0304

FAX:                 2509 9772

 

 

MANAGEMENT

 

Managing Director:  Mr. Justiniano Felicio Martins

 

 

SUMMARY

 

Incorporated on:             21st September, 2006.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           US$100,000.00

Issued:              US$50,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Registered Head Office:-

c/o SSD Corporate Services Ltd.

24/F., Central Tower, 28 Queen’s Road Central, Central, Hong Kong.

 

Holding Company:-

South Services Trading S.A., Brazil.

 

 

BUSINESS REGISTRATION NUMBER

 

37397577

 

 

COMPANY FILE NUMBER

 

1075572

 

 

MANAGEMENT

 

Managing Director:  Mr. Justiniano Felicio Martins

 

 

CAPITAL

 

Nominal Share Capital:   US$100,000.00 (Divided into 100,000 shares of US$1.00 each)

 

Issued Share Capital:     US$50,000.00

 

 

SHAREHOLDER  

(As per registry dated 21-09-2011)

 

Name

 

No. of shares

South Services Trading S.A.

Av. Cristovao Colombo, 1700, conjunto 301, Porto Alegre, RS, Brazil.

 

50,000

=====

 

DIRECTORS  

(As per registry dated 21-09-2011)

 

Name

(Nationality)

 

Address

Justiniano FELICIO MARTINS

Rua General Oscar Miranda, 141/501 - Bairro Bela Vista POA/RS Cep: 90440-160, Brazil.

 

Alexandre BUCKER DE SOUZA

Rua Gen Oscar Miranda, 141, Ap. 501, Porto Alegre, RS, Brazil.

 

Antonio Carlos PAGNONCELLI SAMPAIO

 

Rua Estacio de Sa, 830, Porto Alegre, RS, Brazil.

Gustavo BUCKER DE SOUZA

R Silva Jardim 00966 AP801, Auxiliad/Mont Serrat, 90450-070 Porto Alegre - RS, Brazil.

 

Aloysio PAGNONCELLI DE SOUZA

Rua Luis Manuel Gonzaga, 188 apartamento 1401, Porto Alegre, RS, Brazil.

 

 

SECRETARY 

(As per registry dated 21-09-2011)

 

Name

Address

Co. No.

SSD Corporate Services Ltd.

24/F., Central Tower, 28 Queen’s Road Central, Central, Hong Kong.

1025514

 

 

HISTORY

 

The subject was incorporated on 21st September, 2006 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:                           Furniture, footwear, iron and steel, etc.

 

Employees:                   Nil.

 

Commodities Imported:               China, other Asian countries, etc.

 

Markets:                                   India, other Asian countries, Europe, Brazil, other South American countries, etc.

 

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

 

Terms/Buying:                           As per contracted.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:               US$100,000.00 (Divided into 100,000 shares of US$1.00 each)

 

Issued Share Capital:                 US$50,000.00

 

Profit or Loss:                            Keeping a balance account.

 

Condition:                                  Business is under development.

 

Facilities:                                  Trying to make use of general banking facilities.

 

Payment:                                  Met trade commitments as required.

 

Commercial Morality:                 Fairly satisfactory

 

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

 

Standing:                                  Small.

 

 

GENERAL

 

South Asian Trading Ltd. is a wholly-owned subsidiary of South Services Trading S.A. [SST] which is a Brazil-based firm.

The subject has five directors while all of whom are Brazilian.  They are Brazil passport holders and does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at 24/F., Central Tower, 28 Queen’s Road Central, Central, Hong Kong known as SSD Corporate Services Ltd. which is handling its correspondences and documents.  This firm is also the corporate secretary of the subject.  It is an associated company of Squire Sanders & Dempsey which is a solicitor firm also located at the above‑mentioned address.

The subject has no employees in Hong Kong.

SST is engaged in managing companies and enterprises.  It is also trading in the following commodities:-

Furniture, footwear, iron and steel, textile materials, etc.

The subject is trading in the same kinds of products, more or less.  Products are chiefly sourced from China and Vietnam.  Customers are in the United States, Europe, and Latin America, etc.

It has been helping many Brazilian entrepreneurs launch their products to the international market.  It has acquired prominence, serving as a facilitator in foreign trade with focus on financing and securing export sales.  Moreover, it is now one of the ten largest exporters of Rio Grande do Sul, with two decades of experience in international trade.

Currently SST has about 100 manufacturers, 50 agents and 450 partners.  Business is quite active.

SST is one of the Exicon Group companies.

Exicon Group was established by the following companies: Exicon, SST, Codime and the subject.

It is likely that SST deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  SST 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 five years and three 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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.89

UK Pound

1

Rs.82.71

Euro

1

Rs.69.15

 

 

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.