MIRA INFORM REPORT

 

 

Report Date :

10.10.2011

 

IDENTIFICATION DETAILS

 

Name :

ATLAS  GLOBAL  (HK)  LTD.

 

 

Registered Office :

Units 2105-06, 21/F., Greenfield Tower, Concordia Plaza, No. 1 Science Museum Road, Tsimshatsui East, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

09.05.2001

 

 

Com. Reg. No.:

31784340

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Buying Agent

 

 

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 :

No Complaints

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 and address

 

ATLAS  GLOBAL  (HK)  LTD.

 

 

ADDRESS:       

Units 2105-06, 21/F., Greenfield Tower, Concordia Plaza, No. 1 Science Museum Road, Tsimshatsui East, Kowloon, Hong Kong.

 

PHONE:            2116 3199

 

FAX:                 2517 3186,  2620 6540

 

E-MAIL:                        ashokm@atiasglobal.com.hk

 

 

MANAGEMENT

 

Managing Director:  Mr. Ashok Parsram Mahtani

 

 

SUMMARY

 

Incorporated on:             9th May, 2001.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$5,000,000.00

Issued:              HK$5,000,000.00

 

Business Category:        Buying Agent.

 

Employees:                   40.  (Jointly with affiliates

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Registered Head Office:-

Units 2105-06, 21/F., Greenfield Tower, Concordia Plaza, No. 1 Science Museum Road, Tsimshatsui East, Kowloon, Hong Kong.

 

China Representative Offices:-

In Shanghai & Shenzhen, China.

 

Affiliated Companies:-

Atlas Hind International Ltd., Hong Kong.  [Dissolved]

Genious Ltd., Hong Kong.

Global Chine Ltd., Hong Kong.

Global Marketing Solutions Ltd., Hong Kong.  [Dissolved]

Mo’s Yogurt Co. Ltd., Hong Kong.

Smart Christmas Solutions Ltd., Hong Kong.

Star Electric Technology Ltd., Hong Kong.

Teamgold Development Ltd., Hong Kong.

Topaz Collection Ltd., Hong Kong.  [Dissolved]

 

 

BUSINESS REGISTRATION NUMBER

 

31784340

 

 

COMPANY FILE NUMBER

 

0756137

 

 

MANAGEMENT

 

Managing Director:  Mr. Ashok Parsram Mahtani

 

 

CAPITAL

 

Nominal Share Capital: HK$5,000,000.00 (Divided into 500,000 shares of HK$10.00 each)

 

Issued Share Capital: HK$5,000,000.00

 

SHAREHOLDERS

(As per registry dated 09-05-2011)

 

Name

 

No. of shares

Mr. Ashok Parsram MAHTANI

 

499,998

Mrs. Harsha Ashok MAHTANI

 

1

Mr. Parso Amardinomal MAHTANI

 

1

 

 

–––––––

 

Total:

500,000

======

 

 

DIRECTORS

(As per registry dated 09-05-2011)

 

Name

(Nationality)

 

Address

Mr. Ashok Parsram MAHTANI

11/F., Flat A, Wing On Court, 24 Ho Man Tin Hill Road, Kowloon, Hong Kong.

 

Mr. Parso Amardinomal MAHTANI

Shop 72, 1/F., Chung King Mansion, 36-44 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong.

 

 

SECRETARY

(As per registry dated 09-05-2011)

 

Name

Address

Co. No.

Multi-Chain Ltd.

Room 301, Kam On Building, 176A Queen’s Road Central, Central, Hong Kong.

0209214

 

 

HISTORY

 

The subject was incorporated on 9th May, 2001 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:                      Buying Agent.

 

Lines:                           All kinds of toys, tableware (in porcelain, ceramic or stone), giftware, Christmas decorations, household products, cookware, clocks, knitting T-shirts, electrical scooters, gas stove with oven, food mixers, blenders, juicers, travel type steam irons, etc.

 

Trade Marks:                 “DELAROSA” brand & etc.

 

Employees:                   40.  (Jointly with affiliates

 

Commodities Imported:   Mainly bought from China.

 

Markets:                       North & South American countries.

 

Terms/Sales:                 With or without L/C.

 

Terms/Buying:               With or without L/C.

 

 

MAJOR CUSTOMERS

 

The Barter Group LLC

Tia Ecuador Chimborazo

Supermercados Peruanos S.A.

Operadora De Tiendas S.A.

Tia Ecuador

Tiendas Industriales asociadas S.A.

Nibco Corona Plant

Operadora Del Sur S.A.

Carlos Federspiel Cia S.A.

Supertek Canada Inc.

Supermercados S.A.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$5,000,000.00 (Divided into 500,000 shares of HK$10.00 each)

 

Issued Share Capital:     HK$5,000,000.00

 

Mortgage or Charge (Since February 2009):  (See attachment)

 

Profit or Loss:                Traded at a profitable angle.

 

Condition:                      Maintained in a normal manner.

 

Facilities:                      Is making use of general banking facilities.

 

Payment:                      Regularly met.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

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

Citibank N.A., Hong Kong Branch.

HBZ Finance Ltd., Hong Kong.

 

Standing:                      Normal.

 

GENERAL

 

Atlas Global (HK) Ltd. [AGHK] was incorporated in Hong Kong on 9th May, 2001 as a private limited liability company.  With a nominal and issued capital of HK$5,000,000.00, the company is under the ownership of Mr. Ashok Parsram Mahtani.

AGHK is dealing as a buying agent for a number of customers in South American countries as well as in the US.  With head office in Hong Kong, AGHK was set up in Hong Kong more than 17 years ago with representative offices in Shenzhen and Shanghai.  Products it handled include all kinds of toys, tableware (in porcelain, ceramic or stone), giftware, Christmas decorations, household products, cookware, clocks, knitting T-shirts, electrical scooters, gas stove with oven, food mixers, blenders, juicers, travel type steam irons, etc.  The customers it served are mainly super markets and chain stores in South America with large buying volume every year and also substantial repeat orders after the first satisfying cooperation.  Major customers include The Barter Group LLC, Tia Ecuador Chimborazo, Carlos Federspiel Cia, S.A., etc.

Its affiliate, Smart Christmas Solutions Ltd. [SCS] is also located at the same office of AGHK.  SCS engaged mainly in the sourcing of toys and managing supply chains for major brands and retailers worldwide.

Business is kept in a normal condition.  Regular clients are maintained.

The managing director, Mr. Ashok Parsram Mahtani has good experience in this line of business for many years.  He is also the director of The India Association, Hong Kong.

May be considered good for its normal business engagements.

 

 

REMARKS

 

            Court case:-

Action Date

Case No.

Plaintiff

Defendant

Cause

Amount

08-09-2003

S66296

Image Marketing & Solutions Ltd.

Atlas Global (HK) Ltd.

Work Done

Not stated

17-11-2003

S66296

Image Marketing & Solutions Ltd.

Atlas Global (HK) Ltd.

Work Done

Not stated

06-02-2004

S66296

Teamrite International Ltd. trade as Teamrite & Ims

Atlas Global (HK) Ltd.

Work Done

Not stated

15-09-2009

R5450

Cheng Man Yan Quickana

Atlas Global (HK) Ltd.

Labour Dispute

Not stated

 

            Property information of director:-

            Property Location:          Flat A on 11/F., Wing On Court, No. 24 Ho Man Tin Hill Road, Kowloon, Hong Kong.

Owner:  Ashok Parsram Mahtani & Harsha Ashok Mahtani (Joint Tenant)

Date of Purchase:  08-07-1996

Purchased Price:  HK$9,550,000 (pt.)

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

08-07-1996

-

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

Mortgage to secure general banking facilities

 

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

12-02-2009

Instrument:        Lien & Set-Off Agreement

Property:

Fixed Deposit Receipt Nos.:       DFN1010157, DFN1010164 & DFN1020329

Value Date:  23.01.2009, 29.01.2009 & 26.02.2009

Principal Amount:          HK$105,237, HK$102,378 & US$45,849

Maturity Date:  23.04.2009, 29.04.2009 & 26.05.2009

Mortgagee:        HBZ Finance Ltd., Hong Kong.

Loans, credit financial accommodation and facilities

05-02-2010

Instrument:        Deposit Deed

Property:

By way of a first fixed charge and as a continuing security for the obligations, the company charges and assigns absolutely all its rights, title to and interest in the accounts and all deposits from time to time in the accounts and/or comprising the accounts maintained with Citibank N.A. and/or Citibank Hong Kong Ltd.

Mortgagee:        Citibank N.A., Hong Kong Branch.

All moneys now or at any time in the future owing by the Company and/or Smart Christmas Solutions Ltd.

23-12-2010

Instrument:        Mortgage

Property:

1,667/1,000,000th parts or shares of and in Kowloon Inland Lot No. 10999 (Unit 2 on 17/F., Greenfield Tower, Concordia Plaza, No. 1 Science Museum Road, Kowloon, Hong Kong.)

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

To secure “all moneys” in respect of general banking facilities

23-12-2010

Instrument:        Assignment of Rental

Property:

1,667/1,000,000th parts or shares of and in Kowloon Inland Lot No. 10999 (Unit 2 on 17/F., Greenfield Tower, Concordia Plaza, No. 1 Science Museum Road, Kowloon, Hong Kong.)

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

As further security for the Secured Indebtedness and the payment of all other moneys becoming due to the Lender under the terms of the Mortgage

23-12-2010

Instrument:        Mortgage

Property:

1,708/1,000,000th parts or shares of and in Kowloon Inland Lot No. 10999 (Unit 3 on 17/F., Greenfield Tower, Concordia Plaza, No. 1 Science Museum Road, Kowloon, Hong Kong.)

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

To secure “all moneys” in respect of general banking facilities

23-12-2010

Instrument:        Assignment of Rental

Property:

1,708/1,000,000th parts or shares of and in Kowloon Inland Lot No. 10999 (Unit 3 on 17/F., Greenfield Tower, Concordia Plaza, No. 1 Science Museum Road, Kowloon, Hong Kong.)

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

As further security for the Secured Indebtedness and the payment of all other moneys becoming due to the Lender under the terms of the Mortgage

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.75.97

Euro

1

Rs.65.99

 

 

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.