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Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
WINTRONIX (HK)
HOLDINGS LTD. |
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Registered Office : |
Suite A1, 12/F., Ritz Plaza, 122 Austin Road,Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.03.2011 |
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Com. Reg. No.: |
58029707 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Manufacturer of Stainless steel home appliances, electric appliances, LPG gas stove, blender, pressure cooker, other consumer electronic products, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
No Operating Office in Hong Kong |
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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 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 |
WINTRONIX (HK)
HOLDINGS LTD.
c/o Samson
Professional Services Ltd.
Suite A1, 12/F.,
Ritz Plaza, 122 Austin Road,Tsimshatsui, Kowloon, Hong Kong.
PHONE: 3171 7069
FAX: 3118 6161
Managing
Director: Mr. Balasubramaniam Viswanatha
Murugesa
Incorporated on: 3rd March, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
WINTRONIX (HK)
HOLDINGS LTD.
Registered
Office:-
c/o Samson
Professional Services Ltd.
Suite A1, 12/F.,
Ritz Plaza, 122 Austin Road,Tsimshatsui, Kowloon, Hong Kong.
China
Factory:-
Huatai, Technology
Park, Xiegang Town, Dongguan City, Guangdong Province, China.
Associated
Companies:-
LLM Appliances
Ltd., India.
Butterfly
Gandhimathi Appliances Ltd., India.
58029707
1568215
Managing
Director: Mr. Balasubramaniam Viswanatha
Murugesa
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
(As per registry dated 03-03-2012)
|
Name |
|
No.
of shares |
|
Balasubramaniam
VISWANATHA MURUGESA |
|
6,000 |
|
Ramraj KEESARI |
|
4,000 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
(As per registry dated 03-03-2012)
|
Name (Nationality) |
Address |
|
Ramraj KEESARI |
Huatai, Technology Park, Xiegang Town,
Dongguan City, Guangdong Province, 523590, China. |
|
Balasubramaniam
VISWANATHA MURUGESA |
Seshachalam Centre No. 636/1, 9/F., Anna
Salai Nandhanam Chennai - 600035, Tamilnadu, India. |
(As per registry dated 03-03-2012)
|
Name |
Address |
Co.
No. |
|
Samson
Professional Services Ltd. |
Suite A, 12/F., Ritz Plaza, 122 Austin Road, Tsimshatsui, Kowloon,
Hong Kong. |
0814090 |
The
subject was incorporated on 3rd March, 2011 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.
Activities: Importer, Exporter and Manufacturer.
Lines: Stainless steel home appliances, electric appliances, LPG gas stove, blender, pressure cooker, other consumer electronic products, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: India, other Asian countries, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
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: 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.
Having
issued 10,000 ordinary shares of HK$1.00 each, Wintronix (HK) Holdings Ltd. is
jointly owned by Balasubramaniam Viswanatha Murugesa, holding 60% interests;
Mr. Ramraj Keesari, holding 40%; both of whom are Indian. They are India passport holders and do not
have the right to reside in Hong Kong permanently. They are also directors of the subject. Currently the former is residing in India
while the latter is in Dongguan City, Guangdong Province, China.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at “Suite
A, 12/F., Ritz Plaza, 122 Austin Road, Tsimshatsui, Kowloon, Hong Kong” known
as “Samson Professional Services Ltd.” [Samson] which is handling its
correspondences and documents. This firm
is also the corporate secretary of the subject.
Samson has a branch company located at a different address.
The
subject has no employees in Hong Kong.
It has had an associated company in India known as Butterfly.
There
are two significant companies in India under the Butterfly Group:-
·
LLM Appliances Ltd.;
·
Butterfly Gandhimathi Appliances Ltd.
Butterfly
is a pioneer in premium stainless steel home appliances. Being a four decades old company, Butterfly
was the first in India to introduce stainless steel Pressure Cookers and Vacuum
Flasks. It is also among the first to
acquire ISO9002 certification in the LPG Stove and Mixie divisions.
Engaged
in manufacturing kitchen utensils at the very beginning, Butterfly today
manufactures a comprehensive range of home appliances, kitchen products and
cookware. Under the enterprising
leadership of the late Sri. Murugesa Chettiar and his sons, Butterfly has
become a trusted name not only in India but also in the United Kingdom, Canada,
Australia, Japan, the Middle East
and the East Asian countries.
Butterfly
has had the state-of-the-art manufacturing units, in-house design, die-making
facilities, R&D centres and above all, an impetus on quality control unit
in China. All these have enabled
Butterfly to consistently produce products at international standards.
Butterfly’s
main factory is located at Huatai, Technology Park, Xiegang Town, Dongguan
City, Guangdong Province, China.
Currently the factory is administered by Ramraj Keesari.
The
subject and the above-mentioned two India firms are engaged in marketing and
distributing Butterfly’s products.
The
subject’s business in Hong Kong is not active.
History in Hong Kong is just over a year and five 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 L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.87.54 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.