MIRA
INFORM REPORT
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Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
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Name : |
STAR GLORY LTD. |
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Registered Office : |
Room 705, 7/F., 909 Cheung Sha Wan Road, Lai Chi Kok, |
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Country : |
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Date of Incorporation : |
25.06.2004 |
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Com. Reg. No.: |
34712510 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer and Exporter of Toys, electric appliances,
household products, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Name and address
STAR GLORY
LTD.
ADDRESS: Room 705, 7/F., 909 Cheung
Sha Wan Road, Lai Chi Kok,
PHONE: 2721 4488
FAX: 2369 9744
E-MAIL : sales@starglory.com.hk
MANAGEMENT
Managing Director: Mr. Harry
Hassomal Mohinani
SUMMARY
Incorporated on: 25th
June, 2004.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Manufacturer, Importer and Exporter.
Employees: 100.
(Including affiliate in
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 705, 7/F., 909 Cheung Sha Wan Road, Lai Chi Kok,
Overseas Offices:-
Guangzhou
21/F., Tower B, Center Plaza, 161 Linhexi Road, Tianhe District, Guangzhou
510620, Guangdong, China.
Tel: (86-20) 3831 0598, 3531 0599
Fax: (86-20) 3831 0595
E-mail: guangzhou@mulitex.com
2/F.,
Tel: (86-21) 5228 6620~27
Fax: (86-21) 6279 2728
E-mail: shanghai@mulitex.com
Flat 11B, House 21, Road 17, Block C, Banani,
Tel: 880-2-883 64756
E-mail: ganesh@mulitex.com
Holding Company:-
Mulitex Ltd.,
Ultimate Holding Company:-
Multistars Holdings Ltd.
The Hallmark Building, Suite 227, Old Airport Road, The Valley, Anguilla,
British West Indies.
Associated/Affiliated Companies:-
Bellanis Ltd.,
Fun Republic Corporation,
Imp Y Exp Melsons Chile Ltd.,
Melbrook Zona Libre S.A.,
Melco
Milton Star Trading, UAE.
Mulitex (Exports) Ltd., Hong Kong.
Mulitex (Exports) Ltd.,
Mulitex Exports (Pvt) Ltd.,
Mulitex Industries, Hong Kong.
Mulitex USA Inc.,
P.T. Mulitex (Gedung Mulitex),
BUSINESS REGISTRATION NUMBER
34712510
COMPANY FILE NUMBER
0908540
MANAGEMENT
Managing Director: Mr. Harry
Hassomal Mohinani
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
SHAREHOLDERS
(As per registry dated 25-06-2010)
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Name |
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No. of shares |
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Mulitex Ltd., |
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9,900 |
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Harry Hassomal MOHINANI |
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100 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 25-06-2010)
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Name (Nationality) |
Address |
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Vijay Harish MOHINANI (British) |
Flat B, 4/F., Wing On Court, |
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Hassomal Bulchand MOHINANI (Indian) |
Flat A, 15/F., Wing On Court, |
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Harry Hassomal MOHINANI (Indian) |
Flat C2, 10/F., |
SECRETARY
Vijay Harish MOHINANI (As per
registry dated 25-06-2010)
HISTORY
The subject was incorporated on 25th June, 2004 as a private limited liability
company under the Hong Kong Companies Ordinance.
Last time, the subject was located at 7/F., Angel Tower, 918 Cheung Sha
Wan Road, Lai Chi Kok, Kowloon, Hong Kong, moved to the present address
with effect from 29th December, 2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Manufacturer,
Importer and Exporter.
Lines: Toys,
electric appliances, household products, etc.
Employees: 100. (Including affiliate in
Materials/Commodities: Imports raw materials from Europe and finished
products from
Markets: Worldwide
countries.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: On
various terms.
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
Mortgage or Charge:-
Date of Assignment
of DC Proceeds re export bills restricted to other banks for
negotiation/payment: 06-02-2009
Amount: All
loans or other advances made or to be made by the Bank to the Customer against
documents submitted under a Documentary Credit, all monies and liabilities in
any currency owing by the Customer to the Bank at any time, whether separately
or jointly, actually or contingently, present or future, interest on all loans
and advances and such monies and all expenses of the Bank in perfecting or
enforcing the Assignment
Property: By
way of assignment or agreement to assign in each case as beneficial owner. All monies in any currency representing
proceeds payable or to be paid to the Customer under the Documentary Credits,
all the Customer’s right, title and interest in the said Documentary Credits
and the benefit of all powers and remedies for enforcing the Documentary
Credits
Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd.,
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory condition.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade commitments
as required.
Commercial Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Standing:
GENERAL
Star Glory Ltd. is a subsidiary company of Mulitex Ltd. [Mulitex] which
is a Hong Kong-registered firm located at the same building of the
subject. The subject was set up in June
2004 and has been one of the six Mulitex Group of companies.
The subject is trading in electronic goods, small electric appliances,
gifts and premiums, toys and sundries.
Its largest market in terms of sales of electronic goods and sundries is
The subject is trading in the following commodities:-
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Product/Service |
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Toys – Die Casting |
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Toys – Metal |
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Toys – Plastic, Freewheel |
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Toys – Plastic, Friction Driven |
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Toys – Plastic, Spring Wound |
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Dolls |
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Soft Toys |
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Toys, Others |
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Clocks |
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Watches |
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Camera – Digital |
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Cutlery and Flatware |
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Kitchen Utensils – Plastic |
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Tableware – Miscellaneous |
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Household Products – Metal |
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Household Products – Plastic |
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Household Products – Miscellaneous |
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Household Products – Silicon |
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Giftware |
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Jewellery Boxes |
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Souvenirs and Premiums |
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Stationery |
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Audio Equipment |
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Cassette Recorder With Radio |
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Headphone |
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DVD Player / Recorder |
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Television (include LCD / Plasma Display / HDTV) |
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VCD Player |
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Home Theatre Equipment |
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Electric Appliances |
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Fan – Electrical |
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Telephone and Telephone Equipment (Excluding Mobile Phone) |
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Batteries |
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Handheld Video Game |
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Calculators |
Products are exported to worldwide countries. Business is rather active.
The Mulitex Group, established in 1969, has been doing business with
Mainland Chinese suppliers and manufacturers for almost 40 years and now has
become a globally reputed trading conglomerate.
The annual sales turnover of the Group is very significant.
Currently Mulitex has set up associated firms in
The subject is owned by the Mohinani family. History in
On the whole, in view of the subject’s background and parentage,
consider it good for normal business engagements.
REMARKS
Court Cases: None per our.
Property information of
the holding company:-
1. Property
Location: Flat B on 4/F. and Car
Parking Space No. 68 on 1/F.,
Wong On Court, 24 Ho Man Tin Hill Road, Kowloon, Hong Kong.
Owner: Mulitex Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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03-04-2000 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., |
Mortgage to secure general banking facilities granted to Mulitex Ltd.
and Mulitex (Exports) Ltd. |
2. Property Location: House No. 12 (comprising Car Parking Space
on Carport Level, Living and Dining Rooms with Garden on Garden Floor Level,
Bedrooms on 1/F. Level and Roof Terrace on Roof Level), Mount Beacon, 20
Cornwall Street, Kowloon, Hong Kong.
Owner: Mulitex Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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25-10-2007 |
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Standard Chartered Bank (Hong Kong) Ltd., |
Tripartite legal charge to secure general banking facilities |
3. Property
Location: Flat G on 19/F. of
Tower 17, South Horizons,
Owner: Mulitex Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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05-01-2006 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., |
Mortgage to secure general banking facilities granted to Mulitex Ltd.,
Mulitex (Exports) Ltd. and Star Glory Ltd. |
4. Property
Location: Flat H on 19/F. of
Tower 17, South Horizons,
Owner: Mulitex Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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05-01-2006 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., |
Mortgage to secure general banking facilities granted to Mulitex Ltd.,
Mulitex (Exports) Ltd. and Star Glory Ltd. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.07 |
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1 |
Rs.72.97 |
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Euro |
1 |
Rs.63.57 |
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.