MIRA INFORM REPORT

 

 

Report Date :           

15.11.2011

 

IDENTIFICATION DETAILS

 

Name :

COSMOS  LTD.

 

 

Registered Office :

Room 13, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yau Ma Tei, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

16.07.2010

 

 

Com. Reg. No.:

52839734

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of Garments, home textiles, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

New Business

Payment Behaviour :

No Complaints

Litigation :

---

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

COSMOS  LTD.

 

 

Company ADDRESS

 

Room 13, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yau Ma Tei, Kowloon, Hong Kong.

PHONE:            2377 4436,  2376 7119

FAX:                 2377 4055

 

 

MANAGEMENT

 

Managing Director:  Mr. Nikhil Maganlal Kanakia

 

 

SUMMARY

 

Incorporated on:             16th July, 2010.

 

Organization                  Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Garment Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 13, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yau Ma Tei, Kowloon, Hong Kong.

 

Affiliated Companies:-

·         Traderslink International Co. Ltd., Hong Kong.

·         Swals Exim Pvt. Ltd., India.

·         Swals Exim Pvt. Ltd., Hong Kong. (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

52839734

 

 

COMPANY FILE NUMBER

 

1481266

 

 

MANAGEMENT

 

Managing Director:  Mr. Nikhil Maganlal Kanakia

 

 

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 16-07-2011)

 

Name

 

No. of shares

Nikhil Maganlal KANAKIA

 

10,000

=====

 

DIRECTOR    

(As per registry dated 16-07-2011)


Name

(Nationality)

 

Address

Nikhil Maganlal KANAKIA

# 102 Sunder Park “D”, Off Veera Desai Road, Jeevan Nagar, Andheri (W), Mumbai 400053 India.

 

 

SECRETARY

(As per registry dated 16-07-2011)

 

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 16th July, 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 and Exporter.

           

Lines:                           Garments, home textiles, etc.

 

Employees:                   Nil.

 

Commodities Imported:   China, other Asian countries or acquired from local suppliers.

 

Markets:                       Asian countries, Europe, North America, etc.

 

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

 

Terms/Buying:               L/C, T/T, 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:     Satisfactory

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Cosmos Ltd. is wholly-owned by Mr. Nikhil Maganlal Kanakia who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  Kanakia is also the only director of the subject.  Currently he is residing in Mumbai, India.

Incorporated in July 2010, the subject’s registered office is in a residential building.  It is using the operating office of Swals Exim Pvt. Ltd., a Hong Kong-registered firm, as its registered address.

The subject has no employees in Hong Kong.

The subject is trading in the following commodities:

·         Suits & Jackets - Men’s

·         Suits & Jackets - Women’s

·         All kinds of Children’s Wear

·         Blouses

·         All kinds of Denim Garments

·         Dresses & Skirts

·         Trousers & Slacks

Commodities are sourced from China, other Asian countries.  Prime markets are India, Europe, North America, etc.  Business is under development.

It is likely that the subject has got an associated company in Mumbai, India which is also operated by Kanakia.  The India firm is also a garment and textile product trader.

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 is chiefly handled by Kanakia himself.  History in Hong Kong is just over a year and three months.

On the whole, consider it good for normal business engagements on secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.85

UK Pound

1

Rs.80.36

Euro

1

Rs.68.83

 

 

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.