MIRA INFORM REPORT

 

 

Report Date :           

14.09.2011

 

IDENTIFICATION DETAILS

 

Name :

E.T.N.  INDUSTRIES  LTD.

 

 

Registered Office :

c/o Charter Friend Ltd., Room A, 7/F., China Overseas Building, 139 Hennessy Road, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

16.01.2004

 

 

Com. Reg. No.:

34220812

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Textile products, scrap metals, herbs, garments, furniture, 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 :

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

 

E.T.N.  INDUSTRIES  LTD.

 

 

Company ADDRESS

 

c/o Charter Friend Ltd.

Room A, 7/F., China Overseas Building, 139 Hennessy Road, Wanchai, Hong Kong.

PHONE:            2851 1477

FAX:                 2851 1480

 

 

MANAGEMENT

 

Managing Director:  Mr. Sudhir Wadhwa

 

 

SUMMARY

 

Incorporated on:             16th January, 2004.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$5,000.00

 

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 Charter Friend Ltd.

Room A, 7/F., China Overseas Building, 139 Hennessy Road, Wanchai, Hong Kong.

 

Associated Companies:-

Shanghai E.T.N. Industries Ltd.

2209, 500 Xinjiang Road, 110006 Shanghai, China.

[Tel: 86-21-6380 1336;  Fax: 86-21-6380 1497]

Skyblue International (Shanghai) Co. Ltd., China.

 

 

BUSINESS REGISTRATION NUMBER

 

34220812

 

 

COMPANY FILE NUMBER

 

0879914

 

 

MANAGEMENT

 

Managing Director:  Mr. Sudhir Wadhwa

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$5,000.00

 

 

SHAREHOLDER  

(As per registry dated 16-01-2011)

Name

 

No. of shares

Sudhir WADHWA

 

5,000

====

 

DIRECTOR    

(As per registry dated 16-01-2011)

 

Name

(Nationality)

 

Address

Sudhir WADHWA

2/74 B Street, No-2 Nirankari Colony, Delhi 110009, India.

 

 

SECRETARY 

(As per registry dated 16-01-2011)

 

Name

Address

Co. No.

Charter Friend Ltd.

Room A, 7/F., China Overseas Building, 139 Hennessy Road, Wanchai, Hong Kong.

0316217

 

 

HISTORY

 

The subject was incorporated on 16th January, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.

Last time, the subject’s registered address was located at Room 1204, 12/F., Shanghai Industrial Investment Building, 48-62 Hennessy Road, Wanchai, Hong Kong where was the old operating address of Charter Friend Ltd.  Charter Friend Ltd. moved to the present address in February 2009, so did the subject.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Textile products, scrap metals, herbs, garments, furniture, etc.

 

Employees:                   Nil.

 

Commodities Imported:   China, other Asian countries, etc.

 

Markets:                       Asian countries, Middle East, 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$5,000.00

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

E.T.N. Industries Ltd. is wholly-owned by Mr. Sudhir Wadhwa who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  He is also the only director of the subject.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room A, 7/F., China Overseas Building, 139 Hennessy Road, Wanchai, Hong Kong known as Charter Friend Ltd. which is handling its correspondences and documents.  Charter Friend Ltd. is also the corporate secretary of the subject.  This firm is an associate of Edwin Cheung & Siu, an accountant firm located at the above-mentioned address.

The subject has no employees in Hong Kong.

The subject is an associated company of Shanghai E.T.N. Industries Ltd. [Shanghai E.T.N.] which is in Shanghai, China.

E.T.N. Industries is a group of companies having offices in Delhi, Dubai and Panama, besides the subject and Shanghai E.T.N.

Shanghai E.T.N. is trading in the following commodities: textile products, scrap metals, herbs, garments, furniture, etc.

In Shanghai, Sudhir Wadhwa is operating another firm known as Skyblue International (Shanghai) Co. Ltd. [Skyblue].  It is likely that Skyblue and Shanghai E.T.N. are located at the same address in Shanghai.

The subject’s business in Hong Kong is not very active.

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.47.10

UK Pound

1

Rs.74.64

Euro

1

Rs.64.42

 

 

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.