MIRA INFORM REPORT

 

 

Report Date :           

31.10.2011

 

IDENTIFICATION DETAILS

 

Name :

VENZON  LTD.

 

 

Registered Office :

c/o Kaizen Secretaries Ltd., Room 2103, Futura Plaza, 111 How Ming Street, Kwun Tong

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

19.03.2010

 

 

Com. Reg. No.:

51963827

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer, Exporter and Wholesaler of Leather, chemicals, butylene inner tube, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – 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

 

VENZON  LTD.

 

 

Company ADDRESS

 

c/o Kaizen Secretaries Ltd.

Room 2103, Futura Plaza, 111 How Ming Street, Kwun Tong, Hong Kong.

PHONE:            2341 1444

FAX:                 2341 1414

 

 

MANAGEMENT

 

Managing Director:  Mr. Magesh Annamalai

 

 

SUMMARY

 

Incorporated on:             19th March, 2010.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

c/o Kaizen Secretaries Ltd.

Room 2103, Futura Plaza, 111 How Ming Street, Kwun Tong, Hong Kong.

 

Associated Company:-

India Venzon Ltd.

H-240, TNHB, PH-5 Rangapuram, Sathuvachari, Vellore Dist, Vellore-9, Tamilnadu 632009, India.

[Tel: 91-416-2253872]

 

 

BUSINESS REGISTRATION NUMBER

 

51963827

 

 

COMPANY FILE NUMBER

 

1433306

 

 

MANAGEMENT

 

Managing Director:  Mr. Magesh Annamalai

 

 

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 19-03-2011)

 

Name

 

No. of shares

Magesh ANNAMALAI

 

5,000

Y Senthil Kumar ATHANKI RAMAMURTH

 

2,500

Shamsuddin KAREEM FAZUR UL HAQ

 

2,500

 

 

––––––

 

Total:

10,000

======

 

 

DIRECTOR    

(As per registry dated 19-03-2011)

 

Name

(Nationality)

 

Address

Magesh ANNAMALAI

H-240, TNHB, PH-5, Rangapuram, Sathuvachari, Vellore Dist, Vellore-9, Tamilnadu 632009, India.

 

 

SECRETARY

(As per registry dated 19-03-2011)

 

Name

Address

Co. No.

Kaizen Secretaries Ltd.

Room 2103, Futura Plaza, 111 How Ming Street, Kwun Tong, Hong Kong.

0640440

 

 

HISTORY

 

The subject was incorporated on 19th March, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Rathnam International HK Ltd., name changed to the present style on 7th March, 2011.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Leather, chemicals, butylene inner tube, etc.

 

Employees:                   Nil.

 

Commodities Imported:   China, other Asian countries, etc.

 

Markets:                       Asian countries, Eastern and Western Europe, 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:     Too early to comment.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Venzon Ltd. is jointly owned by Mr. Magesh Annamalai, holding 50% interests; Mr. Y Senthil Kumar Athanki Ramamurth, holding 25%; Mr. Shamsuddin Kareem Fazur Ul Haq, also 25%.  The first is also the only director of the subject.  Currently, all the shareholders are residing in Tamilnadu, India.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at ‘Room 2103, Futura Plaza, 111 How Ming Street, Kwun Tong, Hong Kong’ known as ‘Kaizen Secretaries Ltd.’ which is handling its correspondences and documents.  This firm is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

The subject has had an associated company India Venzon Ltd. [India Venzon] in Tamilnadu, India.  India Venzon is trading in Leather, chemicals, butylene inner tube, etc.  Commodities are sourced from Europe, China, other Asian countries, etc.  Prime markets are Asian countries, Eastern and Western Europe, etc.

India Venzon is chiefly managed by Magesh Annamalai.

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 in Hong Kong is not active.  History in Hong Kong is over a year and seven month.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.82

UK Pound

1

Rs.78.57

Euro

1

Rs.69.29

 

 

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.