MIRA INFORM REPORT
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Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
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Name : |
BALLINA
INVESTMENTS LTD. |
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Registered Office : |
c/o Tricor Services Ltd., Level 28, Three Pacific Place, 1 Queen’s Road East |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.12.2009 |
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Com. Reg. No.: |
51619204 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer,
Exporter and Wholesaler of Information Technology, 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 – 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
BALLINA INVESTMENTS
LTD.
Company ADDRESS
c/o Tricor Services Ltd.
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong.
PHONE: 2980 1888
FAX: 2576 8446
MANAGEMENT
Managing Director: Mr. Roger Leo A. Carino
SUMMARY
Incorporated on: 30th December, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
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 Tricor Services Ltd.
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong.
Holding Company:-
Trillion Wealth Enterprises Ltd., Hong Kong. (Same address)
Associated
Companies:-
Paxys Inc., Philippines.
Paxys Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
51619204
COMPANY FILE NUMBER
1406580
MANAGEMENT
Managing Director: Mr. Roger Leo A. Carino
CAPITAL
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
SHAREHOLDER
(As per registry
dated 30-12-2010)
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Name |
|
No.
of share |
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Trillion Wealth Enterprises Ltd., Hong
Kong. |
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1 = |
DIRECTORS
(As per registry
dated 30-12-2010)
|
Name (Nationality) |
Address |
|
Roger Leo A.
CARINO |
No. 19 Cecilleville Street, White Plains
Subdivision, Quezon City, Philippines. |
|
Tarcisio
Manguiat MEDALLA |
#2 Rosario Street, Magallanes Village,
City of Makati, Metro Manila, Philippines. |
SECRETARY
(As per registry
dated 30-12-2010)
|
Name |
Address |
Co.
No. |
|
Tricor
Strath Ltd. |
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong. |
0004873 |
HISTORY
The
subject was incorporated on 30th December, 2009 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: Information Technology, etc.
Employees: Nil.
Commodities Imported: India and
other foreign advanced countries.
Markets: Philippines, other Asian countries,
etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Keeping a balance account.
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
Ballina
Investments Ltd. is a wholly-owned subsidiary of Trillion Wealth Enterprises
Ltd. which is a Hong Kong-registered firm located at the registered address of
the subject.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Level
28, Three Pacific Place, 1 Queen’s Road East, Hong Kong known as Tricor
Services Ltd. which is handling its correspondences and documents. Tricor Strath Ltd., an associate of Tricor
Services Ltd., is the corporate secretary of the subject.
The
subject has no employees in Hong Kong.
The
directors of the subject are Mr. Roger Leo A. Carino and Mr. Tarcisio Manguiat
Medalla, both of whom are Philippines passport holders. Currently they are residing in the
Philippines. The two directors have
close connection with Paxys Inc. [Paxys].
It is likely that the subject is engaged in the same lines of business
as Paxys. Roger Leo A. Carino is the
director of Paxys while Tarcisio Manguiat Medalla is the chairman of Paxys.
Paxys
is a company incorporated in the Philippines and listed on the Philippine Stock
Exchange (symbol: PAX). Paxys focuses on
investments in the Business Process Outsourcing [BPO] industry and related
sectors within the Asia Pacific region.
Paxys,
formerly known as Fil-Hispano Holding Corporation, was incorporated in 1952 and
was listed on the Philippine Stock Exchange in 1971. The company closed down and sold off its tile
manufacturing operations from 1999 to 2002.
In
2004, the principal shareholder of Advanced Contact Solutions Inc. [ACS], a
leading call centre company, acquired a controlling stake in Paxys through a
reverse takeover by injecting 100% of ACS into the company, effectively making
Paxys the first call centre to be listed on the Philippine Stock Exchange. In October 2005, the company changed its name
to Paxys to better describe its current focus on BPO investments within the Asia
Pacific region.
By
the end of 2005, Paxys initiated its drive to transform itself into a complete
BPO company. To date, Paxys has made
additional acquisitions in the areas of legal scoping and transcription
(ScopeWorks Asia Inc), information technology (UR Solutions Inc.), and salary
packaging administration (SmartSalary Pty. Ltd). Paxys also jointly incorporated two new
Philippine call centres – Stellar Global Solutions Philippines Inc. (together
with the Stellar Group of Australia) and WNS Philippines Inc. (together with
WNS Holdings of India).
Paxys
has set a strategic direction that will continue to diversify its target
markets and service lines to reduce exposure to one particular market or
industry. In view of this strategic direction, ACS was sold in January 2011. The resources obtained from this transaction
shall be mainly used for future investments and settlement of debts.
The
sale of ACS was the first step in executing the current strategy of
repositioning Paxys to better capitalize on the emerging opportunities in the
BPO industry.
Now,
Paxys, through its subsidiaries, provides BPO and information technology [IT]
consulting services in the Philippines and internationally. It provides inbound customer management
services, such as order taking, help desk, and technical support; outbound
services, including telemarketing, tele‑collection, and sales
verification; and other BPO services comprising research, financial
administration, and human resource functions.
Paxys
also provides IT consulting, project management and implementation, systems
development, testing and quality assurance, product support and help desk
services; transcription, editing, and proofreading services for court
reporters, legal entities, government institutions, business corporations,
research institutions, academic institutions, consultancy firms, and
multilateral development agencies; and salary packaging administration,
financial planning, car lease finance broking, and employee benefits services
for corporate clients, commonwealth and state governments, health care, and
public benevolent institutions in Australia.
In addition, it provides outsourced customer contact solutions, document
management, transaction processing, and workflow automation technology services
for telecommunications, utilities, transport, finance, government, retail, and
manufacturing industries; electronic data encoding and processing; and IT
solutions comprising systems integration and related services, such as business
process enhancement, software development and licensing, after sales support,
and outsourcing services.
Paxys
was incorporated in 1952 and is headquartered in Makati City, the
Philippines. Paxys is a subsidiary of
All Asia Customer Services Holdings Ltd. which is also based in the
Philippines.
It
is likely that Paxys 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
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.47.81 |
|
UK Pound |
1 |
Rs.75.16 |
|
Euro |
1 |
Rs.65.11 |
RATING EXPLANATIONS
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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 |
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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.