MIRA INFORM REPORT

 

 

Report Date :

30.07.2011

 

IDENTIFICATION DETAILS

 

Name :

HELIOS  COMMODITIES LTD

 

 

Registered Office :

c/o Prima Group Ltd.

Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

05.05.2010

 

 

Com. Reg. No.:

20353241

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

----

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

No Operating Office

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

HELIOS  COMMODITIES LTD.

 

 

Company ADDRESS

 

Registered Office:-

c/o Prima Group Ltd.

Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong.

[Tel: 2376 3611;  Fax: 2736 5115]

 

Holding Company

 

Surya Vinayak Industries Ltd., India.

 

 

BUSINESS REGISTRATION NUMBER

 

20353241

 

 

COMPANY FILE NUMBER

 

1452701

 

 

DATE OF INCORPORATION

 

5th May, 2010.

 

 

CAPITAL

 

Nominal Share Capital: HK$35,646,000,00 (Divided into 35,646,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$35,646,000,00

 

 

 

 

 

 

Alternation of Capital:-

 

05-05-2010

paid up

HK$                   1.00

09-08-2010

paid up

HK$         194,999.00

19-10-2010

paid up

HK$         351,000.00

20-01-2011

paid up

HK$     35,100,000.00

 

 

––––––––––––––––

Total:

paid up

HK$     35,646,000.00

==============

 

 

SHAREHOLDER  

(As per registry dated 05-05-2011)

Name

 

No. of shares

Surya Vinayak Industries Ltd.

E-3, Mangolpuri Industrial Area, Phase-II, Delhi 110034, India.

 

35,646,000

========

 

 

DIRECTORS

(As per registry dated 05-05-2011)

Name

(Nationality)

 

Address

Sateesh JAIN

1/7439 East Gorakh Park, Lane-14, Shahdara, Delhi 110032, India.

 

Rohit CHOWDHARY

BE-17, Shalimar Bagh, Delhi 110088, India.

 

 

SECRETARY    

(As per registry dated 05-05-2011)

Name

Address

Co. No.

Prima Secretaries Ltd.

Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong.

0569406

 

 

MORTGAGE OR CHARGE

(See attachment)

 

 

GENERAL

 

Helios Commodities Ltd. was incorporated on 5th May, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong known as Prima Group Ltd. which is handling its correspondences and documents.  An associate of Prima Group Ltd. known as Prima Secretaries Ltd. is the corporate secretary of the subject.  The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject is a wholly‑owned subsidiary of Surya Vinayak Industries Ltd. [Surya Vinayak] which is an India-based firm.  The directors of the subject are Mr. Sateesh Jain and Mr. Rohit Chowdhary, both are residing in Delhi, India.

To our knowledge, Surya Vinayak belongs to the Floriana Group of India.  Apart from Surya Vinayak, the Floriana Group includes the following firms:-

Allied Purfumers Pvt. Ltd., India

Surya Vinayak Agro Industries Ltd., India

Surya Vinayak Hospitalities Pvt. Ltd., India

Surya Vinayak Wellness Ltd., India

SVIL Agro Pte. Ltd., Singapore

SVIL Brand Holdings Pvt. Ltd., India

SVIL Mines Pvt. Ltd., India

Floriana Group, a business house with a rich tradition in quality and legacy of business leadership with rather success stories in all its forays into diverse ventures.

An enterprise, started in 1993, has blossomed into a multi-dimensional business conglomerate in a span of less than 2 decades with a growth route matched by few.  The diversification of business interests ranges from essential oils, herbal oils, speciality perfumery compounds, wellness, education, agri-business, plantation, marble mining, processing and marketing, reaping rich dividends for the Group.  The Group has set down its target on becoming a US$5 billion company by 2015.

Floriana Group is India’s largest and among the world’s leading manufacturers of essential oils, sandalwood oil and other speciality perfumery compounds.  The Group has taken up the venture of sandalwood plantation.

The Group is India’s largest chain of marble retail showrooms and warehouses with brand name “Floriana Concept Marble”.

It is likely that Surya Vinayak deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  Surya Vinayak 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 year and two 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.

 

 

COURT CASES:

 

None per our.

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

18-11-2010

Instrument:      General Letter of Hypothecation

Property:

All goods and all bills of exchange, promissory notes and negotiable instruments of any kind and description, all bills of lading, dock warrants, delivery orders, warehouse warrants and receipts and other documents of title to or documents to or relating to goods

Mortgagee:      Allahabad Bank, Hong Kong Branch.

All sums and the satisfaction of all liabilities, present or future, absolute or contingent

20-01-2011

Instrument:      Obligations of the Depositor

Property:

1)   First Fixed Charge: the Deposit (US$3,000,000.00) and all right, title and interest of the Company

2)   First Floating Charge: the Deposit Assets

Mortgagee:      Allahabad Bank, Hong Kong Branch.

As a continuing security for the payment and discharge of the Obligations

18-03-2011

Instrument:      Charge on Deposit

Property:

A sum of US$900,000.00 and US$600,000.00 (Total: US$1,500,000.00) currently represented or evidenced by a certificate of deposit dated 31-01-2011 and 08-02-2011 bearing number 000013010000580 and 000013010000583 respectively

Mortgagee:      Union Bank of India, Hong Kong Branch.

All moneys

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.15

UK Pound

1

Rs.72.10

Euro

1

Rs.63.10

 

 

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.