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Report Date : |
21.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADONIS
LTD. |
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|
|
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Formerly Known As : |
Mayar (H.K.) Ltd. |
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Registered Office : |
Room 803, 8/F., Lippo Centre, Tower 2, 89 Queensway, Admiralty |
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Country : |
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Date of Incorporation : |
16.09.1993 |
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Com. Reg. No.: |
17391818 |
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|
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in importing and exporting of standard newsprint paper and glazed newsprint paper. |
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No. of Employees : |
15 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
--- |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
|
Source : CIA |
ADONIS LTD.
Room 803, 8/F., Lippo Centre, Tower 2, 89 Queensway,
Admiralty,
PHONE: 2850 7366, 2851 7366
FAX: 2542 2302, 2851 7423
E-MAIL: ajay@mayarhk.com
Managing Director: Mr. Ajay Deepak
Incorporated on: 16th September, 1993.
Organization: Private Limited Company.
Capital: Nominal: US$50,000,000.00
Issued: US$9,972,000.00
Business Category: Importer and Exporter; Buying Office and Regional Office.
Annual Turnover: US$200~220 million.
Employees: 15.
Main Dealing Bankers: The
Hongkong & Shanghai Banking Corp. Ltd.,
Standard
Chartered Bank (Hong Kong) Ltd.,
Banking Relation: Good.
Registered Head
Office:-
Room 803, 8/F., Lippo Centre, Tower 2, 89 Queensway,
Admiralty,
Overseas Offices:-
Yangon Office
Room 703-704, Level 7, La
Tel: 95-1-371374, 371375
Fax: 95-1-371376
E-mail: mayarcm@myanmar.com.mm
H. No. 8-A, Lane 15, Delta Estate, 96000, SIBU,
Tel: 60-84-338730
Fax: 60-84-338641
E-mail: mayarsb@streamyx.com
Parent Company:-
Mayar India Ltd.,
Associated/Affiliated
Companies:-
Mayar Group of Companies
Amar Eye
Mannor Impex Pvt. Ltd.,
Mayar Finance Ltd.,
Mayar Health Resorts Ltd.,
Mayar Infrastructure Development Pvt. Ltd.,
Mayar Properties & Investments (Pvt.) Ltd.,
Mayar Securities (Pvt.) Ltd.,
Qingdao Jinhuihai International Transportation Co. Ltd.,
Saanguine
Shree Cosmetics Ltd.,
Signalize Impex (P) Ltd.,
Sivananda Pharmaceuticals (Pvt.) Ltd.,
V.O.U. Investment (Pvt.) Ltd.,
etc.
17391818
0449525
l Group Chairman & Managing Director: Mr. Ajit Kumar Sud
l Director & Business Head: Mr. Ashit Sud
l Managing Director: Mr. Ajay Deepak
Nominal Share Capital: US$50,000,000.00 (Divided into 400,000 shares of US$125.00 each)
Issued Share Capital: US$9,972,000.00
(As per registry
dated 16-09-2012)
|
Name |
|
No. of shares |
|
Ajit Kumar SUD |
|
16 |
|
Mayar India Ltd. Plot No. A, Basant
Lok Community Centre, Vasant Vihar, |
|
79,744 |
|
Ajay DEEPAK |
|
16 |
|
|
|
–––––– |
|
|
Total: |
79,776 ===== |
(As per registry
dated 16-09-2012)
|
Name (Nationality) |
Address |
|
Ajit Kumar SUD (Indian) |
2-A, Shankra Charya Marg, Behind I.P. College, Civil Lines, Alipur Road, New Delhi-110054, India. |
|
Ashit SUD |
Flat B, 37/F., Tower 8, Phase 1, Residence Belair, 28 Bel Air Avenue, Island South, Wah Fu, Hong Kong. |
|
Abhit SUD |
2-A, Shankra Charya Marg, Behind I.P. College, Civil Lines, Alipur Road, New Delhi-110054, India. |
|
Ajay DEEPAK |
Flat E, 8/F., Block 7, |
(As per registry
dated 16-09-2012)
|
Name |
Address |
|
|
Tricor Tengis Ltd. |
Level 28, |
0041027 |
The subject was incorporated on 16th September, 1993 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Mayar (H.K.) Ltd., name changed to the present style on 22nd July, 2011.
Formerly the subject was located at Room 1102, 11/F., The Centre Mark, 287‑299 Queen’s Road Central, Hong Kong, moved to Room 604, 6/F., Lippo Centre, Tower 1, 89 Queensway, Admiralty, Hong Kong with effect from 8th February, 1999; and further moved to the present address in June 2010.
In September 2009, the subject increased its ordinary shares from 63,776 to 79,776.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter; Buying Office and Regional Office.
Lines: All kinds of newsprint paper, graphic paper, timber, soya bean, raw cashew in shells,
industrial materials, sundries and native produces.
Employees: 15.
Commodities Imported:
Markets:
Annual Turnover: US$200~220 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
The Indian Chamber of Commerce Hong Kong,
Nominal Share Capital: US$50,000,000.00 (Divided into 400,000 shares of US$125.00 each)
Issued Share Capital: US$9,972,000.00
Alternation of
Capital:-
|
16-09-1993 |
paid up |
US$ 250.00 |
|
06-09-1994 |
paid up |
US$ 498,000.00 |
|
25-03-1997 |
paid up |
US$ 7,473,750.00 |
|
25-09-2009 |
paid up |
US$ 2,000,000.00 |
|
|
|
––––––––––––––– |
|
Total: |
paid up |
US$ 9,972,000.00 ============= |
Increases of
Nominal Capital:-
|
From |
US$ 250,000.00 |
to |
US$ 500,000.00 |
on |
06-09-1994 |
|
From |
US$ 500,000.00 |
to |
US$ 9,375,000.00 |
on |
25-03-1997 |
|
From |
US$9,375,000.00 |
to |
US$50,000,000.00 |
on |
25-09-2009 |
Mortgage or Charge
(since June 2008): (See attachment)
Profit or Loss: Operation is conducted on a profitable basis.
Condition: Maintained in an active and satisfactory condition.
Facilities: Is making use of general banking facilities.
Payment: Met obligations as contracted.
Commercial Morality: Good.
Bankers:-
l
The Hongkong & Shanghai Banking Corp. Ltd.,
l Standard
Chartered Bank (Hong Kong) Ltd.,
l Credit Agricole Corporate & Investment
Bank, Hong Kong Branch.
l BNP Paribas, Hong Kong Branch.
l
l Indian Overseas Bank, Hong Kong Branch.
l
Bank of
l
Bank of
l Axis Bank Ltd., Hong Kong Branch.
l Allahabad Bank, Hong Kong Branch.
l UCO Bank, Hong Kong Branch.
Standing: Very Good.
Adonis Ltd. was incorporated in
The subject changed name to the present style in July 2011.
It
entrusts with the task of establishing new trade links between
The
subject is an Indian company acting as a buying and regional office for Mayar
Located
in
The
subject is a part of the Mayar Group which is headquartered in
The
Group has set up a number of affiliated and associated companies in the
world. It oversees the activities of all
its offices across the world — in Hong Kong which is the subject,
According to the Group, it is a “debt free company” as it believes in expanding its interests by drawing on its own resources. The Group will keep on expanding in the years ahead under this way.
For instance, the
Group has set up the following two new firms in
l Atos Mayar
l
Saanguine
The
former is a Spa Chain in
The subject is rated as one of the largest trading company of Indian origin, with its net worth about US$35 million as of 31st March, 2012. Now, its annual sales turnover ranges from US$200 to 220 million. Business is active.
The
subject is principally engaged in importing and exporting of standard newsprint
paper and glazed newsprint paper. The
suppliers are in
The
The directors of the subject are also Chief Executive Officers of the Mayar Group. The subject is fully supported by the Mayar Group. Business keeps on improving.
In Hong
Kong, the business of the subject is chiefly handled by Mr. Ajay Deepak who is
residing in
In December
2007, the subject got a litigation filed with the
On the whole, having a history of over nineteen years and two months, the subject is considered good for normal business engagements.
REMARKS:
Brief information
of directors:-
Mr. Ajit Kumar SUD is the Chairman and Managing Director of the Group. Born in 1946, Mr. Ajit Kumar Sud joined in the family business in 1967, a worthy inheritor of his father’s mantle, is continuing the legacy by expanding the Group in other areas like Health Resorts, Day Spas, and Development of Special Economic Zones. He is sticking firmly to the ideals that have made the Mayar a corporate global organization.
Mr.
Ashit SUD is the Business Head. Born
in 1979, Mr. Ashit Sud is the elder son of Mr. A.K. Sud. He possesses a degree in B.Sc. (Hons),
specializing in Finance and Human Resources from
Mr. Ajay DEEPAK, MSc. (Physics), CAIIB is a professional from banking industry. Has over 20 years of banking experience at National and International level. His present position is Managing Director of the subject.
Court case
record:-
|
Action
Date |
Case
No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
06-12-2007 |
H1430 |
Ashita Impex Pvt. Ltd. |
Mayar (H.K.) Ltd. and other |
Money Due/Owing |
US$358,000 |
Property
information of the company:-
1. Property Location: Room 803 on 8/F. of Tower 2, Lippo Centre, 89 Queensway,
Owner: Mayar (H.K.) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
10-02-2010 |
- |
Bank of |
Mortgage to secure general banking facilities |
2. Property Location: Flat
G on 11/F. of Tower 18, South Horizons,
Owner: Mayar (H.K.) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
19-11-1998 |
- |
Banque Nationale de Paris, Hong Kong Branch. [Now known as BNP Paribas] |
Mortgage to secure general banking facilities |
3. Property Location: Flat E on 8/F. of Block 7,
Owner: Mayar (H.K.) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
10-09-2010 |
- |
Allahabad Bank, Hong Kong Branch. |
Mortgage to secure general banking facilities |
4. Property Location: Flat B on 37/F. of Tower 8 and Private Car Park No. 188 on Car Park Level 2, Residence Bel-Air, 28-38 Bel-Air Avenue, Island South, Hong Kong.
Owner: Mayar (H.K.) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
30-09-2010 |
- |
Bank of |
Mortgage to secure general banking facilities |
(Since June 2008)
|
Date |
Particulars |
Amount |
|
07-08-2008 |
Instrument: Letter of Set-off and Appropriation Property: Fixed Deposit deal No. 145410 dated 28-07-2008 for US$503,133.58 of A/C No. 037130 Mortgagee: Bank of |
Advances and other banking facilities |
|
24-09-2008 |
Instrument: Undertaking Relating to Deposits Property: Distinctive No. Date of Receipt: 09-07-2008, 09-07-2008, 09-07-2008 Amount of Deposit: US$750,000.00;
US$750,000.00; Rate of Interest: 2.70%, 2.70%, 2.70% Maturity
Date Mortgagee: Indian Overseas Bank, Hong Kong Branch. |
All and any liabilities |
|
31-01-2009 |
Instrument: Charge on Deposit Property: A sum of US$1,690,940.96 for Account No. 911020400003162, 911020400002875, 911020400002431 and 911020400001892 Mortgagee: Axis Bank Ltd., Hong Kong Branch. |
As a continuing security for the payment and discharge of the Liabilities |
|
06-03-2009 |
Instrument: Obligations of the Depositor Property: Account No. 82000014 and 82100014: Amount Rate of Maturity 2008
FD 48 2 18-10-2008 283,645.50 3.50% 18-04-2009 Mortgagee: Allahabad Bank, Hong Kong Branch. |
All moneys |
|
12-05-2009 |
Instrument: Letter of Set-off and Appropriation Property: The following fixed deposit of A/C No. 037130: Deal No. Date Amount Due Date 152688 02-03-2009 US$553,010.60 02-06-2009 Mortgagee: Bank of |
Advances and other banking facilities |
|
01-06-2009 |
Instrument: Undertaking Relating to Deposits Property: Receipt No.: EM 57 Mortgagee: UCO Bank, Hong Kong Branch. |
Liabilities |
|
10-02-2010 |
Instrument: Mortgage Property: 343,435/1,285,159th parts or shares of and in 1,285/102,750th parts or shares of and in Inland Lot No. 8615 {Room 803 on 8/F. of Tower Two [formerly known as Peregrine Tower and before that known as EIE Tower and further before that known as Tower 1 (West Tower)] of Lippo Centre (formerly known as Bond Centre), 89 Qeuensway, Hong Kong.} Mortgagee: Bank of |
Repayment of all monies obligations and liabilities in respect of general banking facilities |
|
21-04-2010 |
Instrument: Memorandum Property: Distinctive 91210300003341 01-03-2010 US$662,373.17 01-06-2010 Mortgagee: Bank of |
Loan or credit or other facilities |
|
21-06-2010 |
Instrument: Undertaking Relating to Deposits Property: Receipt No.: 2010 UL 2 Mortgagee: UCO Bank, Hong Kong Branch. |
Liabilities |
|
10-09-2010 |
Instrument: Mortgage Property: 38/100,180th parts or shares of
and in Inland Lot No. 8580 (Flat E on 8/F. of Block 7 of City Garden, Mortgagee: Allahabad Bank, Hong Kong Branch. |
All moneys |
|
30-09-2010 |
Instrument: Mortgage Property: 164/553,324th parts or shares of and in Section B of Inland Lot No. 8969 (Flat B on 37/F. of Tower 8 and Private Car Park No. 188 on Car Park Level 2 of Residence Bel-Air, 28-38 Bel-Air Avenue, Island South, Hong Kong.) Mortgagee: Bank of |
All moneys |
|
04-04-2011 |
Instrument: Charge Over Deposit Property: All the fixed deposit and/or call deposit under the Customer ID 911000130 Mortgagee: Axis Bank Ltd., Hong Kong Branch. |
To secure all monies in respect of banking facilities |
|
23-05-2011 |
Instrument: Undertaking Relating to Deposits Property: Distinctive Date of Amount Rate
of Maturity 2010 FD
5161 01-03-2011 US$400,000.00 1.250% 01-06-2011 Mortgagee: Indian Overseas Bank, Hong Kong Branch. |
All and any liabilities |
|
17-08-2011 |
Instrument: Obligations of the
Depositor Property: A sum of US$1,500,000.00 under account number 30800011 Mortgagee: Allahabad Bank,
Hong Kong Branch. |
To secure all
monies in respect of banking facilities |
|
17-08-2011 |
Instrument: General Letter of
Hypothecation Property: All goods and all bills of exchange, promissory notes and negotiable
instruments Mortgagee: Allahabad Bank,
Hong Kong Branch. |
To secure all monies in respect of banking facilities |
|
02-09-2011 |
Instrument: Memorandum Property: Distinctive 91210300004549 16-11-2010 US$162,025.37 16-11-2011 Mortgagee: Bank of |
Loan or credit or other facilities |
|
01-12-2011 |
Instrument: Undertaking Relating to Deposits Property: Distinctive Date of Amount Rate
of Maturity 2008 FD 1914 10-10-2011 US$777,865.82 0.640% 09-01-2012 Mortgagee: Indian Overseas Bank, Hong Kong Branch. |
All and any liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.20 |
|
|
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.