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Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
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Name : |
POWAI
CHEMICALS |
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Registered Office : |
Flat A, 6/F., Elites Place, 80 Ko Shing Street, Sheung Wan
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Country : |
Hong Kong |
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Date of Incorporation : |
24.05.2012 |
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Com. Reg. No.: |
54333502-000-05 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Chemical
Trader of all kinds of chemicals, etc |
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No. of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New company |
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Payment Behaviour : |
Unknown |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
POWAI CHEMICALS
Flat A, 6/F., Elites Place, 80 Ko Shing Street, Sheung Wan, Hong Kong.
PHONE: Not available
FAX: Not available
Manager: Mr. Hirasingh Lalchand Sakhrani
Establishment: 24th May, 2012.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Chemical Trader.
Employees: 4.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Too early to comment.
Head Office:-
Flat A, 6/F., Elites Place, 80 Ko Shing Street, Sheung Wan, Hong Kong.
Associated
Companies:-
Guangzhou Po Wai Industrial Co., China.
Po Wai Industrial Co., Hong Kong. (Same address)
54333502-000-05
Manager: Mr. Hirasingh Lalchand Sakhrani
Name: Mr. Hirasingh Lalchand SAKHRANI
Residential Address: Flat
A, 6/F., 80 Ko Shing Street, Elites Place, Sheung Wan, Hong Kong.
The subject was established on 24th May, 2012 as a sole proprietorship concern owned by Mr. Hirasingh Lalchand Sakhrani under the Hong Kong Business Registration Regulations.
Apart from these, neither material change nor amendment has
been ever traced and noted.
Activities: Chemical Trader.
Lines: All kinds of chemicals, etc.
Employees: 4.
Commodities Imported: India, Europe, China, etc.
Markets: Southeast Asia, Africa, Middle East, Eastern Asia, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Capital: Not disclosed.
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.
Powai Chemicals is a sole proprietorship set up and owned by Mr. Hirasingh Lalchand Sakhrani who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He is also the manager of the subject.
The subject commenced business in May 2012. It has had an associated company Po Wai Industrial Co. [PWI] located at the same operating address. PWI and the subject are engaged in the same lines of business, more or less. The subject is trading in the following commodities:-
· Agrochemicals;
Dyestuffs;
Fine
Chemicals;
Freon
Gases;
Inorganic
Chemical Materials;
Organic
chemical materials;
Pharmaceutical
Chemicals; &
Pigment.
Chemicals are sourced from India, China, European countries, etc. Prime markets are India, Japan, Hong Kong, the European Union, the United States, the Middle East, and some of the African countries, Southeast Asia, etc.
The subject has had an associated company Guangzhou Po Wai Industrial Co. [Guangzhou Po Wai] which is in Guangzhou City, Guangdong Province, China. Guangzhou Po Wai and the subject are engaged in the same lines of business as the subject.
PWI was set up in Hong Kong in 2000. The businesses of the subject and PWI are chiefly handled by Sakhrani.
The history of the subject is just over two months.
On the whole, since the subject is newly set up, consider it good for normal business engagements on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.08 |
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UK Pound |
1 |
Rs.87.03 |
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Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.