MIRA INFORM REPORT

 

 

Report Date :

22.01.2011

 

IDENTIFICATION DETAILS

 

Name :

WEALTHY  MARK  PRIVATE  LTD.

 

 

Registered Office :

c/o Excellent Luck Ltd., Room 736, 7/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

10.12.2010

 

 

Com. Reg. No.:

53433367

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Jewellery and diamonds, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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)

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

 

WEALTHY  MARK  PRIVATE  LTD.

 

 

Company ADDRESS

 

c/o Excellent Luck Ltd.

Room 736, 7/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2375 2297,  2574 5118

FAX:                 2375 2780,  2838 3196

E-MAIL:            wealthymarkinfo@gmail.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Mohammed Mukhtar Shaikh

 

 

SUMMARY

 

Incorporated on:             10th December, 2010.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Too early to comment.

 

Company ADDRESS

 

Registered Head Office:-

c/o Excellent Luck Ltd.

Room 736, 7/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Companies:-

Adila Private Ltd., Hong Kong.

Excellent Luck Ltd., Hong Kong.  (Same address)

Interseas Trading Co., Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

53433367

 

 

COMPANY FILE NUMBER

 

1539109

 

 

MANAGEMENT

 

Managing Director:         Mr. Mohammed Mukhtar Shaikh

Contact Person:             Mr. Syed Riyaz Syed Anwar

 

 

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 10-12-2010)

 

Name

 

No. of shares

Mohammed Mukhtar SHAIKH

 

10,000

=====

 

 

DIRECTOR    

(As per registry dated 10-12-2010)

 

Name

(Nationality)

 

Address

Mohammed Mukhtar SHAIKH

10/11 Imtiyaz Belding Piet Road, Kurla, Mumbai 400070, India.

 

 

SECRETARY

(As per registry dated 10-12-2010)

 

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 10th December, 2010 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:                           Jewellery and diamonds, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries, etc.

 

Annual Turnover:            Too early to obtain figure.

 

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

 

Terms/Buying:               Prepayment, L/C, etc.

 

 

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

 

Profit or Loss:                Too early to offer an opinion.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:    Too early to comment.

 

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

 

Standing:                      Small.

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Wealthy Mark Private Ltd. is wholly owned by Mr. Mohammed Mukhtar Shaikh who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  He is the only director of the subject and currently residing in Mumbai, India.

The subject does not have its own operating office.  Its registered office is in a Hong Kong-registered firm located at Room 736, 7/F., Beverley Commercial Centre 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong known as Excellent Luck Ltd. [Excellent Luck] which is handling its correspondences and documents.

The subject has no employees in Hong Kong.  Its lines of business are unknown since Excellent Luck declined to divulge any information about it.  It is likely that the subject is a diamond trader.

The contact person of the subject Mr. Syed Riyaz Syed Anwar is also an Indian.  Syed Anwar is the sole shareholder and director of a Hong Kong registered firm Adila Private Ltd. [Adila].  Registered in Hong Kong on 10th December, 2010, Adila does not have its operating address in Hong Kong.  Its registered office is in a commercial service firm located at 9/F., Aztec House, 2 Mau Lam Street, Jordan, Kowloon, Hong Kong known as Buttar.HK Ltd. which is handling its correspondences and documents.  Buttar.HK Ltd. is the corporate secretary of the subject and Adila.  Buttar.HK Ltd. has had two offices in Hong Kong, including the above-mentioned one.  Adila also has no employees in Hong Kong.  Currently, Syed Anwar who cannot be reached is also residing in Mumbai, India.

Excellent Luck is an Indian firm trading in bicycles and tricycles, tea and teabag, sewing machines and parts, ball bearing, plywood, batteries, etc.  Commodities are sourced from China, Japan, the United Kingdom, other European countries, etc.  Commodities are exported to India, the Middle East, Europe, North America, etc.

It is likely that the subject has got an associated company in India.  However, details are unknown.

It is likely that the India firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  The India firm 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 just over a month.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.70

UK Pound

1

Rs.72.78

Euro

1

Rs.61.65

 

 

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%)

 

 

 

 

 

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.