MIRA INFORM REPORT

 

 

Report Date :

03.08.2011

 

IDENTIFICATION DETAILS

 

Name :

DK  METAL  WORLD  LTD.

 

 

Registered Office :

Flat B4, 15/F., Prat Mansion, 26-36 Prat Avenue, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

09.04.2005

 

 

Com. Reg. No.:

35506518

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of alloy products

 

 

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 :

Regular

 

 

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

 

DK  METAL  WORLD  LTD.

 

 

Company ADDRESS

 

Flat B4, 15/F., Prat Mansion, 26-36 Prat Avenue, Kowloon, Hong Kong.

PHONE:                  2770 1273

FAX:                       2771 5783

 

 

MANAGEMENT

 

Managing Director:  Mr. Sanjay Arya

 

 

SUMMARY

 

Incorporated on:             9th April, 2005.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$200,000.00

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:-

Flat B4, 15/F., Prat Mansion, 26-36 Prat Avenue, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

35506518

 

 

COMPANY FILE NUMBER

 

0962064

 

 

MANAGEMENT

 

Managing Director:  Mr. Sanjay Arya

 

 

CAPITAL

 

Nominal Share Capital: HK$200,000.00 (Divided into 200,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10,000.00

 

 

SHAREHOLDERS

(As per registry dated 09-04-2010)

 

Name

 

No. of shares

Rajesh Popatlal GALA

 

5,000

Sanjay ARYA

 

5,000

 

 

––––––

 

Total:

10,000

=====

 

DIRECTORS  

(As per registry dated 09-04-2010)

 

Name

(Nationality)

 

Address

Sanjay ARYA

804, B-Wing, Magnam Vasant Marvel Western, Express Highway Borivali-E, Mumbai-66, M.S., India.

 

Rajesh Popatlal GALA

A/103, Satyam, Simpoli Road, Borivali (West), Mumbai‑L100092, India.

 

 

SECRETARY

(As per registry dated 09-04-2010)

 

Name

Address

Co. No.

VMC Secretaries Ltd.

Room 1617-1618, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.

750831

 

 

HISTORY

 

The subject was incorporated on 9th April, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of KR Metals Ltd., name changed to the present style on 18th October, 2007.

Formerly the subject was located at Room 1617-1618, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong where is the operating office of VMC Secretaries Ltd.  The subject moved to the present address with effect from 16 January, 2011.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of alloy products.

 

Employees:                   Nil.

 

Commodities Imported:   India, Middle East, South America, etc.

 

Markets:                       Japan, Europe, US, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$200,000.00 (Divided into 200,000 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 on time.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

DK Metal World Ltd. has issued 10,000 ordinary shares of HK$1.00 each which are equally owned by Mr. Rajesh Popatlal Gala and Mr. Sanjay Arya both of whom are Indian.  Being India passport holders and residing in India, the two shareholders are also directors of the subject.

The subject does not have its own operating office.  Its registered office was in a secretarial service firm located at Room 1617-1618, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong known as VMC Secretaries Ltd. [VMC] which is handling its correspondences and documents.  VMC is also the corporate secretary of the subject.  With effect from 16 January, 2011, the subject’s registered address moved to Flat B4, 15/F., Prat Mansion, 26-36 Prat Avenue, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.

The subject has no employees in Hong Kong.

To our knowledge, the subject is trading in ferro manganese (ELC, LC, MC, HC), ferro chrome (ELC, LC, HC), ferro molybdenum, ferro titanium, silicon manganese, stabilised ferro silicon, manganese oxide, etc.  These alloys are widely used in manufacturing tools.  Some of these products are de‑oxidizers, de-nitrogenator, etc.  Commodities are sourced from India, the United Arab Emirates, Russia, South America, etc.  Prime markets are Japan, European countries and the United States.  The following companies are two of the US buyers:-

·         Tremond Alloys & Metals GRP Corporation

·         R. L. Swearer Co. Inc.

It is likely that the subject has got an affiliated company in Mumbai, India which is also operated by the two shareholders.  This affiliated company is also a metal and alloy trading firm.

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.  Besides, 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 seems not very active.  History in Hong Kong is over five years and ten months.

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.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.23

UK Pound

1

Rs.72.09

Euro

1

Rs.62.99

 

 

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

 

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.