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MIRA INFORM REPORT
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Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ELKAY
INTERNATIONAL (H.K.) LTD. |
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Registered Office : |
Flat A, 10/F., Wing Cheong Commercial
Building, 19-25 Jervois Street, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.07.1982 |
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Com. Reg. No.: |
07920289 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Consumer Electronics, other 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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
ELKAY INTERNATIONAL (H.K.) LTD.
Company ADDRESS
Flat A, 10/F., Wing Cheong Commercial Building, 19-25 Jervois Street, Sheung Wan, Hong Kong.
PHONE: 2542 2402
FAX: 2815 3242
E-MAIL: avinash@netvigator.com
MANAGEMENT
Managing Director: Mr. Kishin Rewachand Lalwani
SUMMARY
Incorporated on: 6th July, 1982.
Organization: Private Limited Company.
Capital: Nominal: HK$2,000,000.00
Issued: HK$1,600,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: US$40-45 million.
Employees: 4.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Company ADDRESS
Registered Head Office:-
Flat A, 10/F., Wing Cheong Commercial Building, 19-25 Jervois Street, Sheung Wan, Hong Kong.
BUSINESS REGISTRATION NUMBER
07920289
COMPANY FILE NUMBER
0114089
MANAGEMENT
Managing Director: Mr. Kishin Rewachand Lalwani
CAPITAL
Nominal Share Capital: HK$2,000,000.00 (Divided into 20,000 shares of HK$100.00 each)
Issued Share Capital: HK$1,600,000.00
SHAREHOLDERS
(As per registry
dated 06-07-2011)
|
Name |
Occupation |
No.
of shares |
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Mr.
Kishin Rewachand LALWANI |
Merchant |
12,000 |
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Mrs.
Monica Kishin LALWANI |
Housewife |
3,000 |
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Miss Anita Kishin LALWANI |
Merchant |
1,000 |
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–––––– |
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Total: |
16,000 ===== |
DIRECTORS
(As per registry
dated 06-07-2011)
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Name (Nationality) |
Address |
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Mrs.
Monica Kishin LALWANI |
Tower 125, 15/F., Flat A, 11 Po Yan
Street, Sheung Wan, Hong Kong. |
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Mr. Kishin Rewachand LALWANI |
Tower 125, 15/F., Flat A, 11 Po Yan
Street, Sheung Wan, Hong Kong. |
SECRETARY
(As per registry
dated 06-07-2011)
|
Name |
Address |
Co.
No. |
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Goodwill
International Management Consultants Ltd. |
Room 1902, Workington Tower, 78 Bonham Strand, Hong Kong. |
0831193 |
HISTORY
The
subject was incorporated on 6th July, 1982 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, Exporter and Wholesaler.
Lines: Consumer Electronics, other products, etc.
Floor Area: 700 sq.ft.
Employees: 4.
Commodities Imported: China, Malaysia, Japan, South Korea, Taiwan, etc.
Markets: Asian countries, Africa, Middle East, US, etc.
Annual Turnover: US$40-45 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$2,000,000.00 (Divided into 20,000 shares of HK$100.00 each)
Issued Share Capital: HK$1,600,000.00
Mortgage or Charge: (See attachment)
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.
Bankers:-
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
· UCO Bank, Hong Kong Branch.
Standing: Normal.
GENERAL
Having issued 16,000 ordinary shares of HK$100.00 each, Elkay International (H.K.) Ltd. is jointly owned by Mr. Kishin Rewachand Lalwani, holding 75.00% interests; Mrs. Monica Kishin Lalwani, holding 18.75%; Miss Anita Kishin Lalwani, 6.25%. The former two are also directors of the subject.
Incorporated in July 1982,
the subject is wholly-owned by the Lalwani family which has been in Hong Kong for
a very long time.
The subject is trading in
the following commodities:
Audio Equipment (Radio)
Electronic Components
(Excluding Semiconductors) (From Malaysia, Japan, Korea, China & Taiwan)
Computer and peripherals,
software, etc.
ICs, transistors, diodes,
etc.
Toys, premium and giftware,
etc.
Food & beverages, etc.
Most of the products bear
the trade mark ELKAY. Prime
markets are Asian countries, Africa, the Middle East, etc. Toys are exported to the
United States. The subject has set up
an office in South China responsible for commodities sourcing. Business is rather active.
The subject is a commission
agent.
The annual sales turnover
of the subject ranges from US$40 to 45 million.
Making a small profit every year.
The history of the subject
in Hong Kong is over 29 years and three months.
On the whole, consider it
good for normal business engagements.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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09-05-1995 |
Instrument: Letter of Set-off (Term Deposits) Property: Fixed Deposit Receipt
No. FD 16824 for US$24,622 Mortgagee: Oman International Finance Ltd.,
Hong Kong. [Now known as
Mashreq Asia Ltd.] [Dissolved] |
General credit facilities |
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14-10-1997 |
Instrument: Undertaking Relating to Deposits Property: Cash Deposits amounting
to HK$61,864 plus US$70,700 (aggregate equiv. HK$609,082) Mortgagee: UCO Bank, Hong Kong Branch. |
General banking facilities |
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20-10-2005 |
Instrument: Undertaking Relating to Deposits Property: Receipt No. Date Amount Due Date EM
1631 30-09-2005 US$
23,500 30-12-2005 EM 1646 20-10-2005 US$132,464 20-01-2006 Mortgagee: UCO Bank, Hong Kong Branch. |
All and any liabilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.82 |
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UK Pound |
1 |
Rs.78.57 |
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Euro |
1 |
Rs.69.29 |
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.