MIRA INFORM
REPORT
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Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
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Name : |
NEW
THOUGHT TRADING CORPORATION
LTD. |
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Registered Office : |
c/o Dissanayake & Associates Solicitors, Unit B, 5/F., Queen’s Centre, 58-64 Queen’s Road East, Wanchai |
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Country : |
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Date of Incorporation : |
15.03.2005 |
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Com. Reg. No.: |
35553303-000-03 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of PVC resins, man-made fibres, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
NEW THOUGHT TRADING
CORPORATION LTD.
Company ADDRESS
c/o Dissanayake & Associates Solicitors
Unit B, 5/F., Queen’s
Centre, 58-64 Queen’s Road East, Wanchai,
PHONE: 2527 0200
FAX: 527 0301
E-MAIL: sumit_55555@hotmail.com
MANAGEMENT
Managing Director: Mr. Sumit Tuli (Mobile: 6305 2484)
SUMMARY
Incorporated on: 15th March, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$2,500,000.00
Issued: HK$1,500,000.00
Business Category: Importer and Exporter.
Employees: Nil.
Main Dealing Banker: HBZ Finance Ltd.,
Banking Relation: Fair.
Company ADDRESS
Registered Head
Office:-
c/o Dissanayake & Associates Solicitors
Unit B, 5/F., Queen’s Centre, 58-64 Queen’s Road East,
Wanchai,
Trading as:-
Sun Glory Yarns And Fibers, Hong Kong. [BR No. 35553303-001-03]
Affiliated Company:-
Thakur
BUSINESS REGISTRATION NUMBER
35553303-000-03
COMPANY FILE NUMBER
0955844
MANAGEMENT
Managing Director: Mr. Sumit Tuli
CAPITAL
Nominal Share Capital: HK$2,500,000.00 (Divided into 2,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,500,000.00
SHAREHOLDER
(As per registry dated 15-03-2010)
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Name |
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No. of shares |
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Sumit TULI |
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1,500,000 ======= |
DIRECTOR
(As per registry dated 15-03-2010)
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Name (Nationality) |
Address |
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Sumit TULI |
Flat C, 51/F., Tower 10, Caribbean Coast, 1 Kin Tung Road, Tung Chung, Lantau Island, Hong Kong. |
SECRETARY
(As per registry dated 15-03-2010)
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Name |
Address |
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Esdee Consultants Ltd. |
Unit B, 5/F., Queen’s Centre, 58-64 Queen’s Road East,
Wanchai, |
0138418 |
HISTORY
The subject was incorporated on 15th March, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally
the subject was registered under the name of Rise Excel (
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: PVC resins, man-made fibres, etc.
Employees: Nil.
Commodities Imported:
Markets:
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$2,500,000.00 (Divided into 2,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,500,000.00
Mortgage or Charge (since 2008): (See attachment)
Profit or Loss: Making a small profit.
Condition: Business is fair.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Fairly satisfactory.
Bankers:-
·
HBZ Finance Ltd.,
· Punjab National Bank, Hong Kong Branch.
·
Bank of
Standing: Small.
GENERAL
Having
issued 1.5 million ordinary shares of HK$1.00 each, New Thought Trading
Corporation Ltd. is wholly-owned by Mr. Sumit Tuli who is an Indian. He is a Hong Kong ID Card holder and has got
the right to reside in
The subject does not have its own operating office. Its registered office is in a solicitors’ firm located at Unit B, 5/F., Queen’s Centre, 58-64 Queen’s Road East, Wanchai, Hong Kong known as Dissanayake & Associates Solicitors which is handling its correspondences and documents. Esdee Consultants Ltd. is the corporate secretary of the subject. Esdee Consultants Ltd. is an affiliated company of the solicitors’ firm also located at the above‑mentioned address.
The
subject has no employees in
To
our knowledge, the subject is trading in PVC resins and synthetic fibres. It is sourcing PVC resins and synthetic
fibres from
The subject also trades in other plastic raw materials. Recently, the subject is sourcing polyester filament yarns in large quantities.
In
order to source more commodities from
The subject’s business is chiefly handled by Mr. Sumit Tuli himself who can be reached at his mobile phone number 6305 2484. The subject makes a small profit or keeps a balance account in most of the years.
Since
the subject does not have its own operating office and has no employees in
REMARKS:
Court Cases: None per our.
Property
information of the company:-
Property Location: Flat
C on 51/F. of Tower 10 of
Chung,
Owner: New Thought Trading Corporation Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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31-08-2010 |
- |
HBZ Finance Ltd., |
Mortgage to secure general credit facilities |
MORTGAGE OR CHARGE
(Since 2008)
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Date |
Particulars |
Amount |
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30-05-2008 |
Instrument: Charge on Deposit to secure the Depositor’s Obligations Property: A sum of US$80,000.00 dated 29-04-2008 and 29-05-2008 bearing account No. 7141000026 and 7141000052 Mortgagee: Punjab National Bank, Hong Kong Branch. |
As a continuing security for the payment and discharge of the Secured Obligations |
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08-10-2008 |
Instrument: Memorandum Property: Distinctive
No. of Receipt: 91220300000702 Mortgagee: Bank of |
Loan or credit or other facilities |
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13-03-2009 |
Instrument: Memorandum Property: Distinctive
No. of Receipt: 91220300000702 Mortgagee: Bank of |
Loan or credit or other facilities |
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26-03-2009 |
Instrument: Lien and Set-off Agreement Property: Deposit
No.: DFN9030280 Mortgagee: HBZ Finance Ltd., |
For securing general credit facility |
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04-09-2009 |
Instrument: Charge on Deposit to secure the Depositor’s Obligations Property: A sum of US$95,000.00, US$75,000.00 and US$75,000.00 dated 20-08-2009, 01-09-2009 and 04-09-2009 bearing account No. 6841000015, 6841000016 and 6841000018 Mortgagee: Punjab National Bank, Hong Kong Branch. |
As a continuing security for the payment and discharge of the Secured Obligations |
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30-11-2009 |
Instrument: Memorandum Property: Distinctive 91220300000702 07-10-2009 US$234,100.00 06-10-2010 Mortgagee: Bank of |
Loan or credit or other facilities |
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26-02-2010 |
Instrument: Lien and Set-off Agreement Property: Deposit
No.: DFN0010008 Mortgagee: HBZ Finance Ltd., |
For securing general credit facility |
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31-08-2010 |
Instrument: Mortgage Property: 49/428,830th
parts or shares of and in Tung Chung Town Lot No. 5 [Flat C on 51/F. of Tower
10 of Phase III (now known as Carmel Cove) of Mortgagee: HBZ Finance Ltd., |
All monies |
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02-09-2010 |
Instrument: Lien and Set-off Agreement Property: Deposit
No.: DFN0090926 Mortgagee: HBZ Finance Ltd., |
For securing general credit facility |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
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|
1 |
Rs.70.38 |
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Euro |
1 |
Rs.58.93 |
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.