MIRA INFORM
REPORT
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Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SUN
GLORY YARNS AND
FIBERS |
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Registered Office : |
c/o Buttar
& Associates, 1/F., |
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Country : |
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Date of Incorporation : |
22.04.2005 |
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Com. Reg. No.: |
35553303-001-03 |
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Legal Form : |
Sole Ownership |
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Line of Business : |
Importer and Exporter of all kinds of yarns and fabrics, 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 : |
No Complaints |
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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
|
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
SUN GLORY YARNS
AND FIBERS
Company ADDRESS
c/o Buttar &
Associates
1/F.,
PHONE: 3541 1620
FAX: 3542 2767
E-MAIL: sumit_55555@hotmail.com
MANAGEMENT
Manager: Mr. Sumit Tuli (Mobile: 6305 2484)
SUMMARY
Establishment: 22nd April, 2005.
Organization: Sole Ownership.
Capital: Provided by Sole Owner.
Business Category: Importer and Exporter.
Employees: Nil.
Main Dealing Banker: HBZ Finance Ltd.,
Banking Relation: Fair.
Company ADDRESS
Head Office:-
c/o Buttar & Associates
1/F.,
Affiliated
Company:-
Thakur
BUSINESS REGISTRATION NUMBER
35553303-001-03
MANAGEMENT
Manager: Mr. Sumit Tuli
SOLE OWNER
New Thought Trading Corporation Ltd.,
HISTORY
The
subject was established on 22nd April, 2005 as a sole ownership firm with New
Thought Trading Corporation Ltd. as the proprietor under the Hong Kong Business
Registration Regulations.
At the very beginning, the subject was located at Unit 8, 8/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B, 25/F., Block 6, Banyan Garden, 863 Lai Chi Kok Road, Kowloon, Hong Kong in September 2005, moved to Flat C, 51/F., Block 10, Caribbean Coast, Tung Chung, Lantau Island, Hong Kong in April 2006, and further to the present address in March 2007.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of yarns and fabrics, etc.
Employees: Nil.
Commodities Imported: Europe,
Markets:
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Capital: Provided by Sole Owner.
Profit or Loss: Making a small profit.
Condition: Business is just fair.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Fairly satisfactory.
Bankers:-
·
HBZ Finance Ltd.,
· Punjab National Bank, Hong Kong Branch.
·
Bank of
Standing: Small.
GENERAL:
Sun
Glory Yarns And Fibers is operated by New Thought Trading Corporation Ltd.
[NTTCL] which is wholly-owned by Mr. Sumit Tuli. Sumit Tuli 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 an accountant firm located at 1/F.,
The
subject has no employees in
NTTCL also 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 NTTCL. Esdee Consultants Ltd. is an affiliated company of the solicitors’ firm which is also located at the above-mentioned address.
The
subject is trading in all kinds of yarns, synthetic fibres and fabrics which
are imported from
The
subject has got an affiliated company Thakur Ji Enterprise which is in
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 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 Sole Owner:-
Property
Location: Flat C on
51/F. of Tower 10 of
Road,
Tung Chung,
Owner: New Thought Trading Corporation Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
31-08-2010 |
- |
HBZ Finance Ltd., |
Mortgage to secure general credit facilities |
Company name
NEW THOUGHT
TRADING CORPORATION LTD.
(Trading as SUN GLORY YARNS AND FIBERS)
company ADDRESS
c/o Dissanayake & Associates Solicitors
Unit B, 5/F., Queen’s Centre, 58-64 Queen’s Road East,
Wanchai,
BUSINESS REGISTRATION NUMBER
35553303-000-03
COMPANY FILE NUMBER
0955844
DATE OF INCORPORATION
15th March, 2005.
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 |
|
Sumit TULI |
|
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)
|
Name |
Address |
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Esdee Consultants Ltd. |
Unit B, 5/F., Queen’s Centre, 58-64 Queen’s Road East,
Wanchai, |
0138418 |
REMARKS: Originally the subject was registered under the name
of Rise Excel (
changed to the present style on 2nd December, 2008.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.70.38 |
|
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 |
|
<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.