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Report Date : |
14.02.2012 |
IDENTIFICATION DETAILS
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Name : |
PUNJABI TRADING ASIA LTD. |
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Registered Office : |
Unit 1703-1706, 17/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.12.1993 |
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Com. Reg. No.: |
17740611 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Tea, snacks, other foodstuffs, cookware, etc. |
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No. of Employees : |
10. |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
PUNJABI TRADING
ASIA LTD.
(Business names:
ENDURANCE TRADE SERVICES COMPANY
GRAND OCEAN COMPANY
HEALTH BEVERAGES COMPANY
PTAL FOODS COMPANY
SUPREME TRUST FOODS COMPANY
SYMPA TRADING COMPANY )
Address: Unit 1703-1706,
17/F., Multifield Plaza,
3-7A Prat
Avenue, Tsimshatsui,
Kowloon,
Hong Kong.
PHONE: 2723 2221
FAX: 2723 6151
E-MAIL: info@punjabihk.com
punjabi@punjabihk.com
Managing Director: Mr. Suresh
Hemandas Punjabi
Incorporated on: 28th
December, 1993.
Organization: Private
Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Foodstuff Trader.
Annual Turnover: US$25~30
million.
Employees:
10.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Unit 1703-1706, 17/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong.
Business Names:-
Endurance Trade Services Company, Hong Kong.
Grand Ocean Company, Hong Kong.
Health Beverages Company, Hong Kong.
PTAL Foods Company, Hong Kong.
Supreme Trust Foods Company, Hong Kong.
Sympa Trading Company, Hong Kong.
17740611
0458815
Managing Director: Mr. Suresh
Hemandas Punjabi
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
(As per registry dated 28-12-2011)
|
Name |
|
No. of shares |
|
Suresh Hemandas PUNJABI |
|
3,250,000 |
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Kiran Suresh PUNJABI |
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1,500,000 |
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Yoshwin Suresh PUNJABI |
|
125,000 |
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Yogesh Suresh PUNJABI |
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125,000 |
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Total: |
5,000,000 ======= |
(As per registry dated 28-12-2011)
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Name (Nationality) |
Address |
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Kiran Suresh PUNJABI [Also alternate director to Suresh Hemandas
PUNJABI and Yoshwin Suresh PUNJABI] |
Flat 18A, Tower 17, Laguna Verde, 8 Laguna Verde Avenue, Hunghom,
Kowloon, Hong Kong. |
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Suresh Hemandas PUNJABI [Also alternate director to Kiran Suresh
PUNJABI and Yoshwin Suresh PUNJABI] |
Flat 18A, Tower 17, Laguna Verde, 8 Laguna Verde Avenue, Hunghom,
Kowloon, Hong Kong. |
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Yoshwin Suresh PUNJABI [Also alternate director to Suresh Hemandas
PUNJABI and Kiran Suresh PUNJABI] |
Flat 18A, Tower 17, Laguna Verde, 8 Laguna Verde Avenue, Hunghom,
Kowloon, Hong Kong. |
|
Beena Heman PUNJABI [Alternate director to Suresh Hemandas PUNJABI,
Kiran Suresh PUNJABI and Yoshwin Suresh PUNJABI] |
Flat 18A, Tower 17, Laguna Verde, 8 Laguna Verde Avenue, Hunghom,
Kowloon, Hong Kong. |
|
Heman Jeramdas PUNJABI [Alternate director to Suresh Hemandas PUNJABI,
Kiran Suresh PUNJABI and Yoshwin Suresh PUNJABI] |
Flat 18A, Tower 17, Laguna Verde, 8 Laguna Verde Avenue, Hunghom,
Kowloon, Hong Kong. |
|
Yogesh Suresh PUNJABI [Alternate director to Suresh Hemandas PUNJABI,
Kiran Suresh PUNJABI and Yoshwin Suresh PUNJABI] |
Flat 18A, Tower 17, Laguna Verde, 8 Laguna Verde Avenue, Hunghom,
Kowloon, Hong Kong. |
(As per registry dated 28-12-2011)
|
Name |
Address |
Co. No. |
|
K. H. Ng & Partners Ltd. |
Unit A, 22/F., Full Win Commercial Centre, |
1583148 |
The subject was incorporated on 28th December, 1993 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 Wholesaler.
Lines: Tea,
snacks, other foodstuffs, cookware, etc.
Employees: 10.
Commodities Imported: India, China, other Asian countries, etc.
Markets: Hong
Kong, Southeast Asia, China, Japan, etc.
Annual Turnover: US$25~30 million.
Terms/Sales:
As per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKP0461]
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
Indebtedness: HK$11,485,813.00 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 28-12-2011)
Mortgage or Charge (since 2008): (See attachment)
Profit or Loss: Making a small profit every year.
Condition:
Keeping in an
active condition.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Indian Overseas Bank, Hong Kong Branch.
China Construction Bank (Asia) Corporation Ltd., Hong Kong.
Standing: Normal.
Having issued 5 million ordinary shares of HK$1.00 each, Punjabi Trading
Asia Ltd. is wholly owned by the Punjabi family. The largest shareholder is Mr. Suresh
Hemandas Pubjabi who is holding 55% interest.
The other shareholders are: Mr. Heman Jeramdas Punjabi, holding 35%; Mr.
Beena Heman Punjabi, 5%; and Mr. Kiran Suresh Punjabi, also 5%. Most of the family members are Hong Kong ID
Card holders and have got the right to reside in Hong Kong permanently.
The business names of the subject are the following six:-
Endurance Trade Services Company
Grand Ocean Company
Health Beverages Company
PTAL Foods Company
Supreme Trust Foods Company
SYMPA Trading Company
The subject is trading in the following commodities:-
·
Cookware
·
Vacuum Flasks
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Kitchen Utensils Metal
·
Kitchen Utensils Miscellaneous
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Household Products Metal (Enamelware, Enamelware)
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Tea and Teabag
·
Snack (Including Potato and Shrimp Chip) (From
Australia and New Zealand)
The above-mentioned products are traded under the subjects different
business names. Commodities are sourced
from India, China, other Asian countries, Australia, New Zealand and acquired
from local suppliers. Prime markets are
Hong Kong, China, Japan, other Asian countries, Europe, North America, Africa,
Australia, etc. Overall business is
active.
It was reported that the Punjabi family had set up their firm in India
in 1933. Commodities can be shipped to
worldwide customers via the shipping company Maersk Line.
The annual sales turnover of the subject ranges from US$25 to 30
million. Regular suppliers and clients
have been maintained.
Mr. Suresh Hemandas Punjabi, representing Senegal, is also a member of
The Association of Honorary Consuls in Hong Kong and Macau SAR, China.
The history of the subject in Hong Kong is over eighteen years and a
month.
On the whole, consider the subject good for normal business engagements.
(Since 2008)
|
Date |
Particulars |
Amount |
|
30-01-2008 |
Instrument: Charge Over Account Property: The Chargor as sole beneficial owner and as security for the payment
of all Secured Liabilities charges the Credit Balance to the Bank Mortgagee: China Construction Bank (Asia)
Corporation Ltd., Hong Kong. |
All present and future obligations and liabilities |
|
11-12-2008 |
Instrument: Security Over Deposits Property: A deposit with chargee in the amount of HK$2,100,000 under Deposit A/C
No. 511‑666208, whatever currency it may subsequently be denominated
in, any renewal of such deposit and the interest thereon together with any
further monies in any deposit account with the chargee at any of its offices Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Amount secured (i) all monies in any currency owing by the Company to
the chargee at any time, actually or contingently, in any capacity, alone or
jointly with any other person; (ii) interest on such monies, to the date on
which the chargee receives payment, at the rates payable by the Company or
which would have been payable but for any circumstance which restricts
payment and (iii) all expenses of the chargee in perfecting or enforcing the
charge |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.32 |
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|
1 |
Rs.77.84 |
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Euro |
1 |
Rs.65.35 |
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 |
-- |
This score serves as a reference to assess SCs 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.