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Report Date : |
14.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SHROFF & CO. LTD. |
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Registered Office : |
Room 2709-2711, 27/F., 113-115 Argyle Street, Mongkok, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.04.1981 |
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Com. Reg. No.: |
07161558 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of
garments, kitchenware, etc. |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s 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 |
SHROFF & CO.
LTD.
Room 2709-2711,
27/F., 113-115 Argyle Street, Mongkok, Kowloon, Hong Kong.
PHONE: 2522 9833
FAX: 2845 0231, 2761 0353
E-MAIL: shroff@shroff.com.hk
Managing
Director: Mr. Neville Savak Shroff
Incorporated on : 8th April, 1981.
Organization : Private Limited Company.
Capital: Nominal : HK$2,000,000.00
Issued: HK$1,000,000.00
Business Category : Importer, Exporter and Wholesaler.
Employees : 12.
Main Dealing Banker : The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation : Good.
SHROFF & CO.
LTD.
Registered
Head Office:-
Room 2709-2711,
27/F., 113-115 Argyle Street, Mongkok, Kowloon, Hong Kong.
07161558
0095874
Managing
Director: Mr. Neville Savak Shroff
Merchandising Manager: Ms. Wendy Tsang
Contact
Person: Ms. Christine Wong
Nominal Share
Capital: HK$2,000,000.00 (Divided into 2,000 shares of HK$1,000.00 each)
Issued Share
Capital: HK$1,000,000.00
(As per registry dated 08-04-2011)
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Name |
|
No.
of shares |
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Neville
Savak SHROFF |
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550 |
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Burji Savak SHROFF |
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450 |
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|
––––– |
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Total: |
1,000 ==== |
(As per registry dated 08-04-2011)
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Name (Nationality) |
Address |
|
Neville Savak
SHROFF |
4 Rutland Quadrant, Kowloon Tong, Kowloon,
Hong Kong. |
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Burji Savak
SHROFF |
4 Rutland Quadrant, Kowloon Tong, Kowloon,
Hong Kong. |
(As per registry dated 08-04-2011)
|
Name |
Address |
Co.
No. |
|
Prime
Pillar Global Ltd. |
Office B, 20/F., Wing Cheong Commercial Building, 19 Jervois Street,
Sheung Wan, Hong Kong. |
1227506 |
The
subject was incorporated on 8th April, 1981 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 : All kinds of garments, kitchenware, etc.
Employees : 12.
Commodities Imported : China, other Asian countries, etc.
Markets : Asian countries, Europe, North America, Australia, etc.
Terms/Sales : L/C or as per contracted.
Terms/Buying : L/C, T/T, D/P, etc.
Nominal Share Capital : HK$2,000,000.00 (Divided into 2,000 shares of HK$1,000.00 each)
Issued Share Capital : HK$1,000,000.00
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 : Good.
Having
issued 1,000 ordinary shares of HK$1,000.00 each, Shroff & Co. Ltd. is
jointly owned by Mr. Neville Savak Shroff, holding 55% interests; and
Mr. Burji Savak Shroff, holding 45%.
They are also directors of the subject.
Both belong to the Shroff family.
According
to the subject, its associate or predecessor was established in Hong Kong
in 1950. Since then, it has been engaged
in the garment industry. With factories
across Asia, the subject services the customers of the United States, Europe,
Canada, Australia, New Zealand and Japan.
The
subject is specialised in garments trading and manufacturing and has over 60
years of experience in garment manufacturing, delivery and designing for global
companies. The subject has set up three
garment divisions: ladies (45%), men (47%) and children (8%). Fabrication is mainly in China, India,
Taiwan, South Korea, Japan and Europe.
According
to the subject, it just works only with those factories that are ISO 9002
certified. Factories and manufacturing
capabilities take place in China, Macao, India, Sri Lanka, Vietnam and
Bangladesh.
Apart
from garments, the subject also trades in stainless steel aluminium wares
including teaports kettles, cookware and food warmers, stainless and aluminium
pressure cookers and pots. Products are
chiefly exported to Europe and the Middle East.
The
subject has had a main affiliated factories in Xinhui, Jiangmen City, Guangdong
Province, China. The floor area of the
factory covers over 3,000 sq.m.
In
order to penetrate the international market further, the subject has taken part
in fairs and exhibitions held in Hong Kong and other foreign large cities.
For
instance, it took take part in “International Autumn Trade Fair 2011” which had
been held in Dubai, the United Arab Emirates during the period of 13th to 15th
December, 2011.
The
subject’s business is active and steady.
Regular suppliers and customers have been maintained. Annual sales turnover is significant.
On the whole,
consider the subject good for normal business engagements.
Court case record:-
|
Date |
Plaintiff |
Defendant |
Cause |
Amount |
|
Mar. 1991 |
Fullrate Enterprises Ltd. |
Shroff & Co. Ltd. |
Amount due |
US$85,923 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.31 |
|
|
1 |
Rs.77.84 |
|
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 |
|
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 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.