MIRA INFORM REPORT

 

 

Report Date :           

11.01.2012

 

IDENTIFICATION DETAILS

 

Name :

PACIFIC  SPOT  LTD.

 

 

Registered Office :

c/o Ginni International, Room 1603, 16/F., Rightful Centre, 12 Tak Hing Street, Jordan, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

14.11.1995

 

 

Com. Reg. No.:

19700938

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Discrete semiconductor components and ultra bright, super flux LED’s, power LED’s and high power LED lamps, etc.

 

 

No. of Employees :

10.  (Including associates)

 

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 30th, 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

 

PACIFIC  SPOT  LTD.

 

 

Company ADDRESS

 

c/o Ginni International

Room 1603, 16/F., Rightful Centre, 12 Tak Hing Street, Jordan, Kowloon, Hong Kong.

PHONE:                        2366 3909

FAX:                 2366 0063

E-MAIL:                        sales@pacificspot.com

pacificsport@yahoo.com

 

 

MANAGEMENT

 

Managing Director:  Mrs. Meenakshi Prem Ahuja

 

 

SUMMARY

 

Incorporated on:             14th November, 1995.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$5,000,000.00

Issued:              HK$4,000,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   10.  (Including associates)

 

Main Dealing Banker:     Bank of India, Hong Kong Branch.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

c/o Ginni International

Room 1603, 16/F., Rightful Centre, 12 Tak Hing Street, Jordan, Kowloon, Hong Kong.

 

Branch Offices: 

China and India.

 

Affiliated Companies:-  (Same address)

·         Dongguan Huiying Plastic Co., Hong Kong.

·         Ginni International Ltd., Hong Kong.

·         Ginni International, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

19700938

 

 

COMPANY FILE NUMBER

 

0530474

 

 

MANAGEMENT

 

Managing Director:  Mrs. Meenakshi Prem Ahuja

 

 

CAPITAL

 

Nominal Share Capital:   HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$4,000,000.00

 

 

SHAREHOLDERS

(As per registry dated 14-11-2011)

 

Name

 

No. of shares

Suresh Babu SIRIGERI

 

3,800,000

Meenakshi Prem ANHUJA

 

200,000

 

 

––––––––

 

Total:

4,000,000

=======

 

 

DIRECTORS  

(As per registry dated 14-11-2011)

 

Name

(Nationality)

 

Address

Suresh Babu SIRIGERI

Room 1603, 16/F., Rightful Centre, 12 Tak Hing Street, Jordan, Kowloon, Hong Kong.

 

Meenakshi Prem ANHUJA

Room 1603, 16/F., Rightful Centre, 12 Tak Hing Street, Jordan, Kowloon, Hong Kong.

 

 

SECRETARY 

(As per registry dated 14-11-2011)

 

Nil. 

 

 

HISTORY

 

The subject was incorporated on 14th November, 1995 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:                           Discrete semiconductor components and ultra bright, super flux LED’s, power LED’s and

high power LED lamps, etc.

 

Employees:                   10.  (Including associates)

 

Commodities Imported:   China, other Asian countries, etc.

 

Markets:                       Southeast Asia, Middle East, Western Europe, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$4,000,000.00

 

Mortgage or Charge:       (See attachment)

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Bank of India, Hong Kong Branch.

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 4 million ordinary shares of HK$1.00 each, Pacific Spot Ltd. is jointly owned by Mr. Suresh Babu Sirigeri, holding 95% interests, and Mrs. Meenakshi Prem Ahuja, holding 5%.

The subject is sharing the office with Ginni International.  This firm is a sole proprietorship set up and owned by Mr. Prem Chimanlal Ahuja who is an Indian.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  Mrs. Meenakshi Prem Ahuja seems to be a family member of Mr. Prem Chimanlal Ahuja.

The subject is engaged in manufacturing of discrete semiconductor components and ultra bright, super flux LED’s, power LED’s and high power LED lamps with state-of-the-art world-class assembly and test processes with high level of automation.  The subject has claimed to be a reliable global supplier of quality semiconductor components and LED lighting products.

The subject’s associated factory is in China.  Having been equipped with strong engineering and R&D team, the China factory is able to manufacture its products in conformity with world standards.

The subject has had customers in Asia, the United States, Europe, Southeast Asia, the Middle East, etc.  It has set up branch offices in Shenzhen Special Economic Zone, China and India.  Business is rather active.

The subject’s business in Hong Kong is chiefly handled by Mrs. Meenakshi Prem Ahuja.

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

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

20-04-2004

Instrument:      General Letter of Hypothecation

Property:

Hypothecation of goods represented by any of such documents as bills of exchange, and/or invoices or other documents representing or relating to goods

Mortgagee:      Bank of India, Hong Kong Branch.

All monies

30-08-2006

Instrument:      Letter of Set-off and Appropriation

Property:

Fixed Deposit Deal No. 116798 dated 30-08-2006 for US$71,000.00 of A/C No. 037152

Mortgagee:      Bank of India, Hong Kong Branch.

Advances and other banking facilities

26-08-2009

Instrument:      Letter of Set-off and Appropriation

Property:

Deal No.            Date                 Amount             Due Date

155919        30-06-2009       US$140,570.10      30-09-2009
157331        27-08-2009       US$230,141.63      03-09-2009
156904        06-08-2009       US$175,618.98      06-11-2009

Mortgagee:      Bank of India, Hong Kong Branch.

Advances and other banking facilities

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.23

UK Pound

1

Rs.80.84

Euro

1

Rs.66.79

 

 

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.