MIRA INFORM REPORT

 

 

Report Date :           

03.10.2011

 

IDENTIFICATION DETAILS

 

Name :

GRAND  SUCCESS  ENTERPRISES

 

 

Registered Office :

Unit 3, 9/F., Block A, Hing Wah Centre, 82-84 To Kwa Wan Road, Tokwawan, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.03.2005

 

 

Com. Reg. No.:

08575863-004-08

 

 

Legal Form :

Sole Ownership.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of electronic components and products, etc.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Usually Correct 

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

 

GRAND  SUCCESS  ENTERPRISES

 

 

Company ADDRESS

 

Unit 3, 9/F., Block A, Hing Wah Centre, 82-84 To Kwa Wan Road, Tokwawan, Kowloon, Hong Kong.

PHONE:            2368 1207

FAX:                 2312 2634

E-MAIL:            ghshk@powernethk.com

 

MANAGEMENT

 

General Manager:  Mr. Manish Bucha

 

 

SUMMARY

 

Establishment:                          1st March, 2005.

 

Organization:                 Sole Ownership.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   6.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Unit 3, 9/F., Block A, Hing Wah Centre, 82-84 To Kwa Wan Road, Tokwawan, Kowloon, Hong Kong.

 

Parent Company:-

Great Himalayan Shippers Ltd., Hong Kong.  (See attachment)

 

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

Actron Hi-Tech Industries Enterprises, Hong Kong.

Sunbright Overseas, Hong Kong.

Super Growth Enterprises, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

08575863-004-08

 

 

MANAGEMENT

 

General Manager:  Mr. Manish Bucha

 

 

SOLE OWNER

 

Great Himalayan Shippers Ltd., Hong Kong.

 

 

HISTORY

 

The subject was established on 1st March, 2005 as a sole ownership firm with Great Himalayan Shippers Ltd. as the proprietor under the Hong Kong Business Registration Regulations.

Initially the subject was located at Unit 1, 5/F., Block A, Hing Wah Centre, 82-84 To Kwa Wan Road, Tokwawan, Kowloon, Hong Kong, moved to Unit 3, 9/F., Block A of the same building in March 2009.

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

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of electronic components and products, etc.

 

Employees:                   6.

 

Commodities Imported:   China, Taiwan, Singapore, Japan, South Korea, etc.

 

Markets:                       India, other Asian countries, 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:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making 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:                      Normal.

 

 

GENERAL

 

Grand Success Enterprises is operated by Great Himalayan Shippers Ltd. [GHS] which is a Hong Kong-registered firm located at the same operating address.

Established in March 2005, the subject is trading in all kinds of electronic components and products, etc.  It carries the following main products: all in one copier, printer and fax machine, binding machine, calculator, colour card and colour comparator, conferencing system, copier, other accessories, etc.  Most of the products are sourced form China, Taiwan, Singapore, Japan, South Korea, etc.  India is the prime market.  Business is rather active as regular customers in India and Asian suppliers have been maintained.

The subject has had the following sister companies which are also operated by GHS and located at the same address:-

Name

BR No.

Establishment

Super Growth Enterprises

08575863-003-08

10-01-2005

Sunbright Overseas

08575863-005-08

01-03-2005

Actron Hi-Tech Industries Enterprises

08575863-006-08

06-08-2007

 

Having issued 20,000 ordinary shares of HK$100.00 each, GHS is jointly owned by Mr. Mahesh Kumar Patodia, holding 90% interests; and Mr. Ram Manohar Bajaj, holding 20%.  The former is a Singapore passport holder and currently residing in Singapore.  The latter is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  The business of GHS is chiefly administered by Bajaj.

Also trading in electronic products and components, GHS was incorporated on 19th August, 1983.  It is one of the old Indian firms in Hong Kong.  Business is rather profitable.

To our knowledge, GHS has set up an office in Shenzhen Special Economic Zone, China which is engaged in sourcing commodities from China suppliers.

The manager of the subject Mr. Manish Bucha is also an Indian.  History in Hong Kong is over six years and nine months.

The subject is fully supported by GHS.

On the whole, consider the subject good for normal business engagements.

 

Company name

 

GREAT  HIMALAYAN  SHIPPERS  LTD.

 

 

Company ADDRESS

 

Unit 3, 9/F., Block A, Hing Wah Centre, 82-84 To Kwa Wan Road, Tokwawan, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

08575863

 

 

COMPANY FILE NUMBER

 

0127519

 

 

DATE OF INCORPORATION 

 

19th August, 1983.

 

 

CAPITAL

 

Nominal Share Capital:   HK$5,000,000.00 (Divided into 50,000 shares of HK$100.00 each)

 

Issued Share Capital:     HK$2,000,000.00

 

 

SHAREHOLDERS

(As per registry dated 19-08-2011)

 

Name

 

No. of shares

Mahesh Kumar PATODIA

 

18,000

Ram Manohar BAJAJ

 

2,000

 

 

––––––

 

Total:

20,000

=====

 

 

DIRECTORS  

(As per registry dated 19-08-2011)

 

Name

(Nationality)

 

Address

Mahesh Kumar PATODIA

14-50 Equatorial Apartment, 48 Meyer Road, Singapore 437872.

 

Premalata PATODIA

14-50 Equatorial Apartment, 48 Meyer Road, Singapore 437872.

 

Ram Manohar BAJAJ

Flat C, 21/F., Tower 8, Parc Palais, 18 Wyile Road, King’s Park, Homantin, Kowloon, Hong Kong.

 

 

SECRETARY

(As per registry dated 19-08-2011)

 

Name

Address

Datt Consultants

Flat A-1, 7/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.93

UK Pound

1

Rs.76.52

Euro

1

Rs.66.65

 

 

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

----

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.