MIRA INFORM REPORT

 

 

Report Date :           

07.06.2011

 

IDENTIFICATION DETAILS

 

Name :

VISION  UNITED  TRADERS

 

 

Registered Office :

Unit A-1, 11/F., Success Commercial Building, 245-251 Hennessy Road, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

12.12.2008

 

 

Com. Reg. No.:

35938274-003-08

 

 

Legal Form :

Sole Ownership

 

 

Line of Business :

Importer, Exporter and Wholesaler of Chemicals, sports goods, toys and gamers, stationery and office equipment, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

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 – 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

 

VISION  UNITED  TRADERS

 

 

company ADDRESS

 

Unit A-1, 11/F., Success Commercial Building, 245-251 Hennessy Road, Wanchai, Hong Kong.

PHONE:            3741 0357,  3741 0358

FAX:                 3741 0356

 

E-MAIL:                        subbu@cosmossvu.com.hk

exports@cosmossvu.com.hk

 

 

MANAGEMENT

 

Manager:  Mr. Subramanyan Balkrishnan  (Mobile: 9809 5476)

 

 

SUMMARY

 

Establishment:                          12th December, 2008.

 

Organization:                 Sole Ownership.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   6.

 

Main Dealing Banker:     Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Unit A-1, 11/F., Success Commercial Building, 245-251 Hennessy Road, Wanchai, Hong Kong.

 

Sister Companies:-  (Same BR No. and address)

·         Central Avenue Traders, Hong Kong.

·         Sheetal Enterprises, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

35938274-003-08

 

 

MANAGEMENT

 

Manager:  Mr. Subramanyan Balkrishnan

 

 

SOLE OWNER

 

Cosmoss VU Ltd., Hong Kong.  (See attachment)

 

 

HISTORY

 

The subject was established on 12th December, 2008 as a sole ownership firm with Cosmoss VU Ltd. as the proprietor under the Hong Kong Business Registration Regulations.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Chemicals, sports goods, toys and gamers, stationery and office equipment, etc.

 

Employees:                   6.

 

Commodities Imported:   India, China and other Asian countries, etc.

 

Markets:                       Asian countries, Europe, Africa, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

           

Profit or Loss:                Kept a balance account in 2010.

           

Condition:                      Business is under development.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

·         Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.

·         Bank of Baroda (Hong Kong) Ltd., Hong Kong.

 

Standing:  Small.

 

 

GENERAL

 

Cosmoss VU Traders is operated by Cosmoss VU Ltd. [Cosmoss] which is located at its operating address.

Established in December 2008, the subject is engaged in the same lines of business as its parent Cosmoss.

Besides the subject, Cosmoss is operating two more firms, namely, Central Avenue Traders and Sheetal Enterprises.  Both firms are registered in Hong Kong under the same business registration number and located at the same address.

Having issued 1.5 million ordinary shares of HK$1.00 each and incorporated on 18th August, 2005, Cosmoss is wholly owned by Mr. Balkrishnan Subramanyan.  Subramanyan is the only director of the subject.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject and Cosmoss are engaged in the same lines of business.  Currently, the subject is trading in the following commodities:-

Product/Service

Sports Goods

Ball Game Equipment

Tennis Ball

Football (Soccer)

Toys and Games

Educational Toys – Non-Electronic

Household Products (Non-Electrical)

Vacuum Flasks

Stove

Cookware

Stationery and Office Equipment

Stationery

School Supplies

Paper and Paper Products

Food and Beverage

Cereal Preparations

Baking Powder

Canned Food

Mushroom – Canned

Fruit – Canned

Electrical Appliances

Electrical Domestic Appliances – Miscellaneous

Fan – Electrical

Kitchen Appliances – Electrical

Chemicals (including Plastic Materials)

Additive

Textile Chemicals

Textile Auxiliary Chemical

Pharmaceutical Chemicals

Household Chemicals

Insecticide

Camphor

Food Chemicals

Agro-Chemicals

Pesticide For Agricultural Use

Fertiliser

 

Cosmoss is specialised in chemicals trading.  It is mainly dealing in the following chemicals: caustic soda, sodium hydrosulphite, hydrogen peroxide, potassium hydroxide, titanium dioxide, food additives (MSG, citric acid), fine chemicals, dyes and pigments, etc.  Most of the chemicals are imported from Europe and India.  Prime markets are Asian countries, Africa, etc.

According to Cosmoss, it has developed business ties with the following countries: Nigeria, Ghana, other South African countries, Equatorial Guinea, France, Germany, the United Kingdom, the United Arab Emirates, Oman, Qatar, Yemen, India, etc.

Cosmoss has a technical team stationed in China for monitoring, supervising and controlling its shipments.  The team is trying to penetrate the potential markets.  Cosmoss has claimed to be one of the reliable exporters of “superior quality products” from China.  The focus of Cosmoss is to set up partnerships with selected companies of the world.  Cosmoss acts an agent for its clients as a buying office in China.  Its business is chiefly handled by Subramanyan himself.

The subject’s business is improving.

The subject and Cosmoss operate from the office which is located at the present address owned by Cosmoss.  The premises have been mortgaged to Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong, for a consideration of HK$1.7 million.

On the whole, since the history of the subject in Hong Kong is just over two years and three months, consider it good for normal business engagements on secured basis.

 

REMARKS:

 

Court Cases:           None per our.

 

Property information of the sole owner:-

1.     Property Location:       Portion of Unit A on 11/F., Success Commercial Building,
245-251 Hennessy Road, Hong Kong.

Owner:     Cosmoss VU Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

20-04-2007

-

Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.

Mortgage to secure general banking facilities

 

2.     Property Location:       11/F. of Block 38 and Car Park Space No. 159 on G/F. of Block 32‑40, Baguio Villa, 555 Victoria Road, Hong Kong.

Owner:     Cosmoss VU Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

04-03-2010

-

Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.

Mortgage to secure general banking facilities

 

 

CompNY name

 

COSMOSS  VU  LTD.

 

 

Company ADDRESS

 

Unit A-1, 11/F., Success Commercial Building, 245-251 Hennessy Road, Wanchai, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

35938274-000-08

 

 

COMPANY FILE NUMBER

 

0990436

 

 

DATE OF INCORPORATION

 

18th August, 2005.

 

 

CAPITAL

 

Nominal Share Capital: HK$1,500,000.00 (Divided into 1,500,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1,500,000.00

 

Alternation of Capital:-

Initially

paid up

HK$        100,000.00

07-09-2010

paid up

HK$     1,400,000.00

 

 

–––––––––––––––

Total:

paid up

HK$     1,500,000.00

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

 

Increase of Nominal Capital:-

From

HK$100,000.00

to

HK$1,500,000.00

on

06-05-2010




SHAREHOLDER  

(As per registry dated 18-08-2010)

Name

 

No. of shares

Balkrishnan SUBRAMANYAN

 

1,500,000

=======

 

 

DIRECTOR    

(As per registry dated 18-08-2010)

Name

(Nationality)

 

Address

Balkrishnan SUBRAMANYAN

11/F., Block 38, Baguio Villa, 555 Victoria Road, Hong Kong.

 

 

SECRETARY 

(As per registry dated 18-08-2010)

 

Balkrishnan SUBRAMANYAN 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.73.46

Euro

1

Rs.65.47

 

 

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.