MIRA
INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SHYE INTERNATIONAL LTD. |
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Registered Office : |
C/o C. K. Liu & Co., CPA 13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.08.1998 |
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Com. Reg. No.: |
32171738 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Building materials, Ceramic tiles, sanitary ware,
etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
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 |
Company name and address
SHYE INTERNATIONAL
LTD.
ADDRESS:
C/o C. K. Liu & Co., CPA
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central,
Hong Kong.
PHONE: 2543 3505
FAX: 2815 2074
E-MAIL: evelynshye@netvigator.com
franshye@netvigator.com
MANAGEMENT
Managing Director: Mr. Surendra
Kishinchand Wadhwani
SUMMARY
Incorporated on: 7th
August, 1998.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer and Exporter.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Office:-
c/o C. K. Liu & Co., CPA
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central,
Hong Kong.
Operating Office:-
Flat E, 9/F., Harilela Mansion, 81 Nathan Road, Tsimshatsui, Kowloon,
Hong Kong.
Main Office in China:-
Room F-4, 10/F., Everbright Building, 689 Tianhe Bei Road, Tianhe
District, Guangzhou, Guangdong Province, China.
[ Tel: 86-20-3873 1045~47
Fax: 86-20-3873 1042
E-mail: shye@vip.163.com
shyeint@gmail.com]
Associated Companies:-
Shye International, Hong Kong. (Same address)
[Owned by Surendra Kishinchand Wadhwani]
Shye Unity Impex Private Ltd.
Lakshwadeep, G/F., 5th Gulmohar Cross Lane, J.V.P.D. Juhu, Mumbai-400
049, India.
[ Tel: 91-22-2620 1931~35
Fax: 91-22-2620 1936
E-mail: shyeunity@gmail.com]
BUSINESS REGISTRATION NUMBER
32171738
COMPANY FILE NUMBER
0651812
MANAGEMENT
Managing Director: Mr. Surendra
Kishinchand Wadhwani
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 07-08-2011)
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Name |
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No. of shares |
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Poonam DHILLON |
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1 |
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Shaista Surendra WADHWANI |
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9,998 |
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Surendra Kishinchand WADHWANI |
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1 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 07-08-2011)
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Name (Nationality) |
Address |
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Surendra Kishinchand WADHWANI |
Flat E, 9/F., Harilela Mansion, 81 Nathan Road, Tsimshatsui, Kowloon,
Hong Kong. |
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Shaista Surendra WADHWANI |
Room 101, 1/F., Mamta Apartments, A.B. Nair Road, Juhu Mumbai, India. |
SECRETARY
(As per registry dated 07-08-2011)
|
Name |
Address |
Co. No. |
|
Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central,
Hong Kong. |
0113023 |
HISTORY
The subject was incorporated on 7th August, 1998 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: Building
materials, Ceramic tiles, sanitary ware, etc.
Employees: Nil.
Commodities Imported: Europe, China, etc.
Markets: India,
Europe, North America, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, 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: Keeping a balance account in Hong Kong.
Condition: Business
is not very active in Hong Kong.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Shye International
Ltd. is chiefly owned by Mr. Shaista Surendra Wadhwani who is an Indian.
The subject does not have its own operating office. Its registered office is in an accountant
firm located at 13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central,
Hong Kong known as C. K. Liu & Co., CPA which is handling its
correspondences and documents.
The subject has no employees in Hong Kong.
The subject’s operating office is located at Flat E, 9/F., Harilela
Mansion, 81 Nathan Road, Tsimshatsui, Kowloon, Hong Kong where is the
residential address of Surendra Kishinchand Wadhwani. He is an India passport holder.
To our knowledge, the subject has been trading in watches for about 10
years and is also trading in about 13,000 consumer items exporting to 99
countries. The subject ships 635 x 40’
containers of consumer products every week from Hong Kong and China. In 2002, the subject set up an office in
Guangzhou City, Guangdong Province, China.
Most of the time, S. K. Wadhwani is stationing at this office. The Guangzhou office is the main office of
the subject.
Now, the subject is trading in varieties of products.
Currently, the subject is trading in the following commodities:
Stationery, clothing, tools, electric appliances, gifts, utensils,
kitchenware, tableware, toys, watch glasses, ceramic tiles, sanitary ware,
consumer electronics, leather products, toiletries, luggage, sports goods,
tourism and leisure products, personal care products, etc.
Most of the commodities are sourced from China. Regular suppliers in China have been
maintained.
The subject is one of the leading buying agents for the American and
European market. It supplies retailers
and department stores with all kinds of commodities as they required.
The subject has set up its distribution/retail networks all over India
which is one of its prime markets.
The subject has got an affiliated company Shye Unity Impex Pvt. Ltd.
which is a company incorporated in Mumbai, India. This firm, managed by Shaista Surendra
Wadhwani, is also trading in ceramic tiles, construction materials, bathroom
fittings and other consumer products.
The subject has got its affiliated factories in China which are
manufacturing products in conformity with international standards.
The subject’s business is chiefly handled by Surendra Kishinchand
Wadhwani himself who is residing in Hong Kong
The subject got litigation in 1993 and 1999 concerning two sums of
amount due.
The subject’s business in Hong Kong is not very active. However, its history in Hong Kong is over
thirteen years and two months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements in small
credit amounts.
REMARKS
Court case of
affiliate:-
|
Date |
Plaintiff |
Defendant |
Cause |
Amount |
|
Jan. 1993 |
UCO Bank |
Shye International [Owned by Surendra Kishinchand Wadhwani] |
Amount due |
HK$1,641,763 |
|
Oct. 1999 |
Rise Champion Holdings Ltd. |
Shye International [Owned by Surendra Kishinchand Wadhwani] |
Amount due |
HK$124,675 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
|
1 |
Rs.75.97 |
|
Euro |
1 |
Rs.65.99 |
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.