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Report Date : |
08.06.2012 |
IDENTIFICATION DETAILS
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Name : |
MANIPAL
LTD. |
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Formerly Known As : |
Jems Ltd. |
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Registered Office : |
Room 704, 7/F., |
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Country : |
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Date of Incorporation : |
08.01.1974 |
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Com. Reg. No.: |
5161603 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Manufacturers’ Representative of Electronic products, audio/video products, lighting equipment, moulding equipment, electronic components, electronic toys, garment accessories, yarns, raw silk, silk yarn, umbrellas, gifts, ceramics, Chinese goods, etc. |
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No. of Employees : |
04 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
MANIPAL LTD.
Room 704, 7/F., Cheong Tai Commercial Building, 60-66 Wing Lok Street, Sheung Wan, Hong Kong.
PHONE: 2545 1181 (2 lines), 2545 1134
FAX: 2850 7029
E-MAIL: bbeed@manipal.com.hk
Managing Director: Mr. Motichand Meghan Beed
Incorporated on: 8th January, 1974.
Organization: Private Limited Company.
Capital: Nominal: HK$3,000,000.00
Issued: HK$3,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$55-60 million.
Employees: 4.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
· Room 704, 7/F., Cheong Tai Commercial Building, 60-66 Wing Lok Street, Sheung Wan, Hong Kong.
G.P.O.
Box 9556, Hong Kong.
5161603
0036850
Managing Director: Mr. Motichand Meghan Beed
Nominal Share Capital: HK$3,000,000.00 (Divided into 30,000 shares of HK$100.00 each)
Issued Share Capital: HK$3,000,000.00
(As per registry
dated 08-01-2012)
|
Name |
Occupation |
No. of shares |
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Mr. Bijal Motichand BEED |
Merchant |
15,000 |
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Mr. Reshma Bijal BEED |
Merchant |
15,000 |
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–––––– |
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Total: |
30,000 ===== |
(As per registry
dated 08-01-2012)
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Name (Nationality) |
Address |
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Mr. Reshma Bijal BEED (Indian) |
Room 704, 7/F., Cheong Tai Commercial Building, 60-66 Wing Lok Street, Sheung Wan, Hong Kong. |
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Mr. Bijal Motichand BEED (Indian) |
Room 704, 7/F., Cheong Tai Commercial Building, 60-66 Wing Lok Street, Sheung Wan, Hong Kong. |
(As per registry
dated 08-01-2012)
|
Name |
Address |
Co.
No. |
|
Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong. |
0113023 |
The subject was incorporated on 8th January, 1974 as a private limited liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Jems Ltd., name changed to the present style on 6th May, 1977.
The subject moved from 2/F., 57 Wyndham Street, Central, Hong Kong (also was the owners’ residence) to the subject’s own premises located at Room 704, 7/F., Cheong Tai Commercial Building, 60-66 Wing Lok Street, Sheung Wan, Hong Kong in early 1990. It had once been moved back to 2/F., 57 Wyndham Street, Central, Hong Kong in 1997, but relocated again at Room 704, 7/F., Cheong Tai Commercial Building in late 1999.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Manufacturers’ Representative.
Lines: Electronic products, audio/video products, lighting equipment, moulding equipment,
electronic components, electronic toys, garment accessories, yarns, raw silk, silk yarn, umbrellas, gifts, ceramics, Chinese goods, etc.
Office Space: 500 sq.ft. – self-owned.
Employees: 4. (Office staff)
Commodities Imported: Mainly imported from China, India, Japan, Korea, US, UK, and also bought in Hong Kong.
Markets: India, Germany, East Africa and Caribbean Islands.
Annual Turnover: HK$55-60 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$3,000,000.00 (Divided into 30,000 shares of HK$100.00 each)
Issued Share Capital: HK$3,000,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Traded at a profitable angle.
Condition: Keeping in a normal manner.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Bankers:-
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Indian
Overseas Bank, Hong Kong Branch.
Standing: Normal.
Manipal Ltd. is an Indian company equally owned by Mr. Mr. Bijal Motichand Beed and Mr. Reshma Bijal Beed. Both are also directors of the subject. They are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently
This is a small to medium scale trading company. It is also trading as Maruchome Trading Co. which is also located at the same address.
On 8th January, 1997, the subject’s nominal and issued capital were increased from HK$1,000,000.00 to HK$3,000,000.00 in order to strengthen its financial position,
The subject was initially in a leased premises located at 2/F., 57 Wyndham Street, Central, Hong Kong, moved to its own business premises located at Room 704, 7/F., Cheong Tai Commercial Building, 60-66 Wing Lok Street, Sheung Wan, Hong Kong in early 1990. The old address remains to be the residence of the owners.
The subject is trading in the following commodities:-
Electronic products, audio/video products, lighting equipment, moulding equipment, electronic components, electronic toys, garment accessories, yarns, raw silk, silk yarn, umbrellas, gifts, ceramics, other Chinese goods, etc.
The subject is representation a number of manufacturers in Asia. It is also sourcing commodities for a number of customers in India and in Europe. Overall business is active.
The business of the subject is chiefly handled by the two shareholders.
On the whole, consider it good for normal business engagements.
REMARKS:
Court Cases: None as per our of court cases
Property information of the company:- Property Location: Office D on 7/F., Cheong Tai Commercial Building, 60‑62 Wing Lok Street, Hong Kong.
Owner: Manipal Ltd.
Date of Purchase: 15-11-1989
Purchased Price: HK$800,000
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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25-03-1994 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
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Date |
Particulars |
Amount |
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07-07-1982 |
Instrument: Letter of Authority Property: Deposit Receipt No. 000607/FOR/81023 dated 20-11-1981 for HK$50,000 due on 20-05-1983 Mortgagee: Indian Overseas Bank, Hong Kong Branch. |
All moneys |
|
05-08-1992 |
Instrument: Letter of Authority Property: FCFDR 821697 dated 12-07-1982 for US$6,826 (Call Deposit) Mortgagee: Indian Overseas Bank, Hong Kong Branch. |
All moneys |
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25-03-1994 |
Instrument: Mortgage Property: Office D on 7/F., Cheong Tai Commercial Building, 60-66 Wing Lok Street, Hong Kong. Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
General banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.15 |
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UK Pound |
1 |
Rs.85.22 |
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Euro |
1 |
Rs.69.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 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.