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Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ALLIED
RAINBOW ASIA LTD. |
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Registered Office : |
c/o Dhun’s
Management Services Ltd., 7/F., Man On Commercial Building, 12-13 Jubilee
Street, Central |
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Country : |
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Date of Incorporation : |
23.02.2006 |
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Com. Reg. No.: |
36811649 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Steel products, metal products, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
ALLIED RAINBOW ASIA LTD.
c/o Dhun’s Management Services Ltd.
7/F., Man On Commercial Building, 12-13 Jubilee Street, Central, Hong Kong.
PHONE: 2850 8826
FAX: 2850 8830
E-MAIL: info@alliedrainbow.com
President: Mr. Vikas Sureshkumar Bhageria
Incorporated on: 23rd February, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$1,560,000.00
Issued: HK$1,560,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: State Bank of India, Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
c/o Dhun’s Management Services Ltd.
7/F., Man On Commercial Building, 12-13 Jubilee Street, Central, Hong Kong.
China Main Office:-
Allied Rainbow
Asia Ltd.
C-27, Lingqiao
Square, 34-35 Yaohang Street, Ningbo City, Zhejiang Province, China.
[Tel: 86-574-2778 0612
Fax: 86-574-2778 0616
E-mail: info@alliedrainbow.com ]
Associated
Companies:-
Ningbo Famous Import & Export Co. Ltd., China.
Ningbo Famous Steel Co. Ltd., China.
36811649
1026050
President: Mr. Vikas Sureshkumar Bhageria
Director & General Manager: Mr. Rahul Bhageria
Nominal Share Capital: HK$1,560,000.00 (Divided into 1,560,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,560,000.00
(As per registry
dated 23-02-2012)
|
Name |
|
No. of shares |
|
Vikas Sureshkumar BHAGERIA |
|
780,000 |
|
Rahul BHAGERIA |
|
780,000 |
|
|
|
–––––––– |
|
|
Total: |
1,560,000 ======= |
(As per registry
dated 23-02-2012)
|
Name (Nationality) |
Address |
|
Rahul BHAGERIA |
301/302, Vasant Galaxy Mars, B Wing, Junction of MG & Link Road, Bangur Nagar, Goregaon (W), Mumbai-400090, India. |
|
Vikas Sureshkumar BHAGERIA |
601/602, Vasant Galaxy Mars, B Wing, Junction of MG & Link Road, Bangur Nagar, Goregaon (W), Mumbai-400090, India. |
(As per registry
dated 23-02-2012)
|
Name |
Address |
Co.
No. |
|
Dhun’s Management Services Ltd. |
7/F., Man On Commercial Building, |
0027006 |
The subject was incorporated on 23rd February, 2006 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: Steel products, metal products, etc.
Employees: Nil.
Materials/Commodities: Imports India, Europe, Japan, etc.
Markets: China, Asian countries, Middle East, Africa, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted, etc.
Nominal Share Capital: HK$1,560,000.00 (Divided into 1,560,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,560,000.00
Alternation of
Capital:-
|
Initially |
paid up |
HK$ 10,000.00 |
|
16-04-2009 |
paid up |
HK$ 390,000.00 |
|
31-07-2009 |
paid up |
HK$ 1,160,000.00 |
|
|
|
––––––––––––––– |
|
Total: |
paid up |
HK$ 1,560,000.00 ============== |
Increase of
Nominal Capital:-
|
From |
HK$400,000.00 |
to |
HK$1,560,000.00 |
on |
31-07-2009 |
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: State Bank of India, Hong Kong Branch.
Standing: Small.
Having issued 1,560,000 ordinary shares of HK$1.00 each, Allied Rainbow Asia Ltd. was wholly-owned by Mr. Vikas Sureshkumar Bhageria who is an Indian. Now, the subject is equally-owned by Vikas Sureshkumar Rahul Bhageria and Rahul Bhageria. The two Bhagerias belong to the same family. They are also directors of the subject.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at 7/F., Man On Commercial Building, 12‑13 Jubilee Street, Central, Hong Kong known as Dhun’s Management Services Ltd. which is handling its correspondences and documents. Dhun’s Management Services Ltd. is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
To our knowledge, the subject was established with an objective to serve customers with pharmaceutical products. It has had an operating office in Ningbo City, Zhejiang Province, China bearing the same name as the subject. Hereinafter is referred to ARAL.
ARAL has set up two firms in China, namely, Ningbo Famous Import & Export Co., Ltd., and Ningbo Famous Steel Co., Ltd.
ARAL is an engineering and contracting Group company. In 2009, it expanded its field of activities and trading in tubular and flat products in Stainless Steel, Carbon Steel , Alloy Steel for its customers worldwide. These products are widely used in various sectors like Mining, Energy, Petrochemical, Chemical Industry, Food, Paper, Gas and Fluid Industry, etc.
ARAL has been trading in Pipes, Fittings, Flanges, Valves, Structural steel, Coils and Plates for more than six years. It has marked its products in more than 30 countries.
ARAL has set up offices in India, the United Arab Emirates and Nigeria.
Its major markets include the United States, Africa, Southeast Asia, Iran, India, the United Arab Emirates, etc.
The subject’s main customers includes Vedanta, Furnace Fabrica, Bhageria Dye Chem, Ash Trade Nigeria Ltd., Astron, etc.
Most of the time, Vikas Sureshkumar Bhageria and Rahul Bhageria are stationing at their China office in Zhejiang Province, China. Vikas Sureshkumar Bhageria can be reached at his mobile phone number 0086-13566017249 while Rahul Bhageria can be reached at 0086‑13486403175.
Since the China office and the subject bear the same name, the China firm corresponds with foreign parties under the subject’s registered address in Hong Kong.
The subject’s business in Hong Kong is not very active.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.36 |
|
UK Pound |
1 |
Rs.85.64 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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.