MIRA INFORM
REPORT
|
Report Date : |
21.02.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
SHEILA’S
EXPORTS LTD. |
|
|
|
|
Registered Office : |
9/F., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
18.03.1977 |
|
|
|
|
Com. Reg. No.: |
05071769 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Yarn, labels for garment, textile machinery and equipment, pharmaceuticals, dyestuffs, etc. |
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 : |
Regular |
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
SHEILA’S
EXPORTS LTD.
Company ADDRESS
9/F.,
PHONE: 2525 3035~6, 2107 2700, 2107 2769
FAX: 2526 0458, 2521 8769
E-MAIL: tc81aav@netvigator.com
MANAGEMENT
Managing Director: Mr. Ashok Arjan Vaswani
SUMMARY
Incorporated on: 18th March, 1977.
Organization: Private Limited Company.
Capital: Nominal: HK$2,000,000.00
Issued: HK$2,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Group Annual Turnover: US$50~55 million.
Employees: 20.
Main Dealing Banker: Union Bank of
Banking Relation: Good.
Company address
Registered Head
Office:-
9/F.,
Guangzhou Sheila’s Export Ltd.
605, Animateview
Business Harbour, 855 Gong Ye Da Dao Nan, Haizhu District,
[Tel: 86-20-8443
7845; Fax: 86-20-8443 7844]
BUSINESS REGISTRATION NUMBER
05071769
COMPANY FILE NUMBER
0052126
MANAGEMENT
Managing Director: Mr. Ashok Arjan Vaswani
CAPITAL
Nominal Share Capital: HK$2,000,000.00 (Divided into 20,000 shares of HK$100.00 each)
Issued Share Capital: HK$2,000,000.00
SHAREHOLDERS
(As per registry dated 18-03-2010)
|
Name |
|
No. of shares |
|
Ashok Arjan VASWANI |
|
19,999 |
|
Risha Ashok VASWANI |
|
1 |
|
|
|
–––––– |
|
|
Total: |
20,000 ===== |
DIRECTORs
(As per registry dated 18-03-2010)
|
Name (Nationality) |
Address |
|
Ashok Arjan VASWANI |
Flat C, 10/F., |
|
Risha Ashok VASWANI |
Flat C, 10/F., |
SECRETARY
(As per registry dated 18-03-2010)
|
Name |
Address |
|
|
Sincere Secretaries Ltd. |
13/F., Chun Wo Commercial Centre, |
0109535 |
HISTORY
The subject was incorporated on 18th March, 1977 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly
the subject was located at 14/F.,
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Yarn, labels for garment, textile machinery and equipment, pharmaceuticals, dyestuffs,
etc.
Employees: 20.
Commodities Imported:
Markets:
Annual Turnover: US$50~55 million.
Terms/Sales: As per contracted.
Terms/Buying: L/C, D/P, D/A, O/A, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$2,000,000.00 (Divided into 20,000 shares of HK$100.00 each)
Issued Share Capital: HK$2,000,000.00
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:-
·
Union Bank of
· Canara Bank, Hong Kong Branch.
·
Bank of
·
HBZ Finance Ltd.,
Standing: Good.
GENERAL
Sheila’s
Exports Ltd. is wholly-owned by Mr. Ashok Arjan Vaswani who is an Indian. The subject is a large size trading house
based in Hong Kong and has been doing business for more than three decades in
the
The
subject has set up a representative office in
The
subject represents many corporations in the
The
subject trades in the following commodities: dyeing, tanning and colouring
materials; health and medical care; machine parts; pharmaceutical and medicine;
pharmaceutical preparation; piecegoods – vegetable fibre; yarn – woollen; yarn
– vegetable fibre; marble blocks, porcelain and ceramic tiles; chemicals;
pigments; textiles and made-ups; etc.
Commodities are sourced from
Annual sales turnover of the Group ranges from US$50 to 55 million.
As
the history of the subject is about thirty-four years in
COURT CASES: None per our.
MORTGAGE OR CHARGE
(Since 2009)
|
Date |
Particulars |
Amount |
|
12-08-2009 |
Instrument: Charge on Deposit Property: A sum of US$300,000.00 currently represented or evidenced by a certificate of deposit dated 06-07-2009 bearing number 000013010000317 Mortgagee: Union Bank of |
All moneys |
|
27-02-2010 |
Instrument: Undertaking Relating to Deposits Property: Amount Rate of Maturity 2010
FD 18 1 11-02-2010 250,000.00 0.85% 11-02-2011 Mortgagee: Canara Bank, Hong Kong Branch. |
“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 |
|
18-08-2010 |
Instrument: Lien and Set-off Agreement Property: Fixed
Deposit DFN 2081298 18-08-2010 HK$501,260.27 18-11-2010 Mortgagee: HBZ Finance Ltd., |
Loans, credit financial accommodation and facilities |
|
02-11-2010 |
Instrument: Charge on Deposit Property: A sum of US$150,000.00 currently represented or evidenced by a certificate of deposit dated 17-05-2010 bearing number 000013010000305 Mortgage: Union Bank of |
All moneys |
|
21-01-2011 |
Instrument: Memorandum Property: Distinctive 91210300003957 16-04-2010 US$ 57,611.52 18-04-2011 Mortgagee: Bank of |
Loan or credit or other facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.18 |
|
|
1 |
Rs.73.04 |
|
Euro |
1 |
Rs.61.43 |
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 |
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.