MIRA INFORM REPORT

 

 

Report Date :

24.12.2012

 

IDENTIFICATION DETAILS

 

Name :

RATHI GLOBAL RESOURCES LTD.

 

 

Registered Office :

Unit A2, 3/F., Tai Cheung Factory Building, 3 Wing Ming Street, Cheung Sha Wan, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

29.12.1999

 

 

Com. Reg. No.:

30989678

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Shoes, Garments, Leather Products, Feather & Down Products, Other Textile Products, etc.

 

 

No. of Employees :

12

 

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

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

Hong Kong - ECONOMIC OVERVIEW

 

Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.

 

Source : CIA

 

Company name

 

RATHI GLOBAL RESOURCES LTD.

 

 

ADDRESS

 

Unit A2, 3/F., Tai Cheung Factory Building, 3 Wing Ming Street, Cheung Sha Wan, Kowloon, Hong Kong.

 

PHONE:            2730 4443,  2730 4444,  2553 5600

 

FAX:                 2736 4444,  3743 4939

 

E-MAIL:            trimskumar@hotmail.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Nnadakumar Kombial

 

 

SUMMARY

 

Incorporated on:            29th December, 1999.

 

Organization:                 Private Limited Company.

 

Capital: Nominal:           HK$1,700,003.00

            Issued:             HK$1,700,003.00

 

Business Category:       Importer, Exporter and Wholesaler.

 

Employees:                  12.

 

Main Dealing Banker:     Standard Chartered (HK) Ltd., Hong Kong.

 

Banking Relation:          Satisfactory.

Company name

 

RATHI GLOBAL RESOURCES LTD.

 

 

ADDRESS

 

Registered Head Office:-

Unit A2, 3/F., Tai Cheung Factory Building, 3 Wing Ming Street, Cheung Sha Wan, Kowloon, Hong Kong.

 

Affiliated/Associated Companies:-

Unirich Investment Ltd., Hong Kong.

Unirich Jewellery Ltd., Hong Kong.

Unirich Sourcing Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

30989678

 

 

COMPANY FILE NUMBER

 

0699278

 

 

MANAGEMENT

 

Managing Director:  Mr. Nnadakumar Kombial

 

 

CAPITAL

 

Nominal Share Capital: HK$1,700,003.00 (Divided into 1,700,003 shares of HK$1.00 each)

 

Issued Share Capital: HK$1,700,003.00

 

 

SHAREHOLDERS

 

(As per registry dated 29-12-2011)

Name

 

No. of shares

Bahri Rohit

 

150,000

Rathi NANDAKUMAR

 

775,001

Nandakumar KOMBIAL

 

775,002

 

 

––––––––

 

Total:

1,700,003

=======

 

 

DIRECTORS

 

(As per registry dated 29-12-2011)

Name

(Nationality)

 

Address

Rathi NANDAKUMAR

Flat E, 13/F., Tower 3, South Horizons, Hong Kong.

 

Nnadakumar KOMBIAL

Flat E, 13/F., Tower 3, South Horizons, Hong Kong.

 

 

SECRETARY

 

Rathi NANDAKUMAR  (As per registry dated 29-12-2011)

 

 

HISTORY

 

The subject was incorporated on 29th December, 1999 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Trims Overseas Ltd., name changed to the present style on 24th November, 2011.

Formerly the subject was located at Unit 1108, 11/F., Tower B, Southmark, 11 Yip Hing Street, Wong Chuk Hang, Hong Kong. moved the present address in 11th January, 2011.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Shoes, Garments, Leather Products, Feather & Down Products, Other Textile Products, etc.

 

Employees:                  12.

 

Commodities Imported: China, other Asian countries, etc.

 

Markets:                        India, other Asian countries, Europe, North America, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital: HK$1,700,003.00 (Divided into 1,700,003 shares of HK$1.00 each)

 

Issued Share Capital: HK$1,700,003.00

 

Mortgage or Charge:-

Date of Deposit Deed:  13-12-2010

Amount:                        All moneys now or at any time in the future owing by the Company

Property:                      By way of a first fixed charge and as a continuing security for the Obligations, the company charges & assigns absolutely all its rights, title to and interest in the accounts & all deposits from time to time in the accounts and comprising the account maintained with the bank

Mortgagee:                   Citibank N.A., Hong Kong Branch.

 

Profit or Loss:               Making a small profit every year.

 

Condition:                     Keeping in a satisfactory manner.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

Standard Chartered (HK) Ltd., Hong Kong.

Citibank, N.A., Hong Kong.

 

Standing:  Normal.

 

 

GENERAL

 

Having issued 1,700,003 ordinary shares of HK$1.00 each, Rathi Global Resources Ltd. is jointly owned by Mr. Bahri Rohit, holding 8.8% interests; Mr. Rathi Nandakumar, holding 45.6%; Mr. Nandakumar Kombial, also 45.6%.  All of whom are Indian.  The first is residing in New Delhi, India while the second and third are residing in Hong Kong.  The second and third are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.  They are also the directors of the subject.

The subject is trading in the following commodities:-

Shoes, Garments, Leather Products, Feather & Down Products, Other Textile Products, etc.

Commodities are chiefly sourced from China, other Asian countries, etc.  Products are exported to India, other Asian countries, Europe, North America, etc.  Business is rather active.

The subject usually takes part in China Import & Export Fair which is held in Guangzhou City, Guangdong Province, China biannually.

The managing director of the subject Mr. Nnadakumar Kombial can be reached at his mobile phone number 9866 3279.

Mr. Nnadakumar Kombial is also the manager of Unirich Sourcing Ltd. [Unirich Sourcing] which is also a Hong Kong-registered firm.  Unirich Sourcing is located at a different address.

The subject and Unirich Sourcing are engaged in the same lines of business, more or less.

The following two firms are associated firms of Unirich Sourcing:-

Unirich Jewellery Ltd.;

Unirich Investment Ltd.

The above two firms are also registered in Hong Kong.

Unirich Sourcing was incorporated on 20th October, 2006.

The history of the subject in Hong Kong is about thirteen years.  On the whole, consider it good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.08

UK Pound

1

Rs.89.53

Euro

1

Rs.72.77

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.