MIRA INFORM REPORT

 

 

Report Date :

07.02.2012

 

IDENTIFICATION DETAILS

 

Name :

JAYKARA  (H.K.)  LTD.

 

 

Registered Office :

Room 601, 6/F., Houston Centre, 63 Mody Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

29.012.1994

 

 

Com. Reg. No.:

18758215

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer, Exporter and Wholesaler of Fabrics, giftware, novelties, foodstuffs, hand tools, rice, etc

 

 

No. of Employees :

8.

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

                                                                   

JAYKARA (H.K.) LTD.

 

 

Company ADDRESS

 

Room 601, 6/F., Houston Centre, 63 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:                  2541 2633  (5 lines)

FAX:                       2541 1120

E-MAIL:                  hongkong@jay-villagroup.com

                         jaykara@netvigator.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Deepak Lachhmandas Chhugani

 

 

SUMMARY

 

Incorporated on              :  29th December, 1994.

 

Organization                  :  Private Limited Company.

 

Capital: Nominal            : HK$4,000,000.00

            Issued               : HK$4,000,000.00

 

Business Category         : Importer, Exporter and Wholesaler.

 

Employees                    :  8.

 

Main Dealing Banker      : The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation            :  Good.

 Company name

 

JAYKARA  (H.K.)  LTD.

 

Company ADDRESS

 

Registered Head Office:-

Room 601, 6/F., Houston Centre, 63 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

Business Names:-

Omkar Enterprises, Hong Kong.  [BR No. 18758215-001]

Pragati Impex Company, Hong Kong.                                               [BR No. 18758215-002]

Deepsun International, Hong Kong.                                                  [BR No. 18758215-003]

Soong Chen Enterprises, Hong Kong.                                              [BR No. 18758215-004]

Takaso Enterprises, Hong Kong. [BR No. 18758215-005]

 

Associated Company:-

Villa-Mode International Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

18758215

 

 

COMPANY FILE NUMBER 

 

0501833

 

 

MANAGEMENT

 

Managing Director:  Mr. Deepak Lachhmandas Chhugani

 

 

CAPITAL

 

Nominal Share Capital: HK$4,000,000.00 (Divided into 4,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$4,000,000.00

 

 

 

SHAREHOLDERS

 

(As per registry dated 29-12-2011)

 

Name

 

No. of shares

Deepak Lachhmandas CHHUGANI

 

2,000,000

Sunil Lachhmandas CHHUGANI

 

2,000,000

 

 

–––––––––

 

Total:

4,000,000

========

 

 

DIRECTORS

 

(As per registry dated 29-12-2011)

 

Name

(Nationality)

 

Address

Deepak Lachhmandas CHHUGANI

Flat J1, 24/F., Beverly Hill, 6 Broadwood Hill, Happy Valley, Hong Kong.

 

Sunil Lachhmandas CHHUGANI

Flat 2602, 26/F., Block 29, Yanlord Riverside Garden, Lane 388, Furongjiang Road, Shanghai, 200051, China.

 

 

SECRETARY

 

(As per registry dated 29-12-2011)

 

Name

Address

Co. No.

First Island Secretaries Ltd.

Suite 905, 9/F., Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

0049295

 

 

HISTORY

 

The subject was incorporated on 29th December, 1994 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                                        : Fabrics, giftware, novelties, foodstuffs, hand tools, rice, etc.

 

Employees                                : 8.

 

Commodities Imported                : China, other Asian countries, etc.

 

Markets                                                : Worldwide countries.

 

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

 

Terms/Buying                            :  L/C, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital                : HK$4,000,000.00 (Divided into 4,000,000 shares of HK$1.00 each)

 

Issued Share Capital                  : HK$4,000,000.00

 

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.

 

Banker                                      :  The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing                                   :  Normal.

 

 

GENERAL

 

Having issued 4 million ordinary shares of HK$1.00 each, Jaykara (H.K.) Ltd. is equally owned by Deepak Lachhmandas Chhugani and Sunil Lachhmandas Chhugani.  The latter is an India passport holder and currently residing in Shanghai, China.

The business names of the subject are the followings: Omkar Enterprises, Pragati Impex Company, Deepsun International, Soong Chen Enterprises and Takaso Enterprises.

The subject is trading in the following commodities:-

·         Piecegoods – Vegetable Fibre

·         Piecegoods – Blended

·         Piecegoods – Synthetic (Nylon)

·         Giftware

·         Novelties

·         Stationery

·         Milk

·         Sauce – Tomato

·         Padlock

·         Hand Tools

·         Rice

·         Chemicals

Different commodities are carried by the subject’s different business names mentioned above.  Most of the commodities are sourced in China.  Products are exported to India, other Asian countries, Europe, North America, etc.  Business is rather active.

The subject is a subsidiary of Jay-Villa Group.  Jay-Villa Group is an international holding company comprising of the subject and Villa-Mode International Ltd.  These companies are specialized in manufacturing and exporting general merchandises, chemicals, industrial raw materials and other household items.

The associated company of the subject was first established in 1986 in Hong Kong by Mr. Deepak Chhugani.  For the past 24 years, the Group has diversified its production and exportation into a wide range of products including rice, sugar, yeast, palm oil, condensed milk, evaporated milk, tomato paste, pasta, etc.

The Group is also specialized in the production of chemicals and industrial raw materials used in textile, cosmetic, wax, candle, rubber, soap and detergent industries.

The Group has now evolved into a multi-national company spanning several regions including Southeast Asia, the Middle East and the African subcontinent.

With its head office situated in Hong Kong, the subject has branch offices in Shanghai and Guangzhou.  It also has associated offices in Mumbai (India), Nairobi (Kenya), Douala (Cameroon), Cotonou (Benin), Niger (Niamey) and Abidjan (Ivory Coast).

Under the leadership of directors Mr. Deepak Chhugani and Mr. Sunil Chhugani, the subject keeps on improving.

As the history of the subject in Hong Kong is over seventeen years and a month, on the whole, consider it good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.67

UK Pound

1

Rs.76.75

Euro

1

Rs.63.56

 

 

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.