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Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SWALS EXIM PVT. LTD. |
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Registered Office : |
Flat 5B, 7/F., Rear Block, |
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Country : |
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Date of Incorporation : |
15.10.2008 |
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Com. Reg. No.: |
39889748 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Garments, home textiles, etc. |
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No. of Employees : |
4. (Including associates) |
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 : |
Small Company |
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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) |
|
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 |
SWALS EXIM
PVT. LTD.
Address: Flat 5B, 7/F.,
Rear Block, Wah Fat Industrial Building,
10-14 Kung
Yip Street, Kwai Chung,
New
Territories, Hong Kong.
(Your enquiry given as:
SWALS EXIM P. LTD.
and old address at:
Room 13, 5/F., Lee
Shing Mansion,
11-19 Wai Ching Street,
Yau Ma Tei, Kowloon,
Hong Kong.)
PHONE: Not Available
FAX: Not Available
Managing Director: Mr. Sandeep
Jagdishprasad Agrawal
Incorporated on: 15th
October, 2008.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Garment Trader.
Employees: 4.
(Including associates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Flat 5B, 7/F., Rear Block, Wah Fat Industrial Building, 10-14 Kung Yip
Street, Kwai Chung, New Territories, Hong Kong.
Associated Companies:-
Shosaan Asia Pacific, Hong Kong.
(Same address)
Swals Exim Pvt. Ltd., India.
Affiliated Companies:-
Cosmos Ltd., Hong Kong. (Same
address)
Traderslink International Co. Ltd., Hong Kong.
39889748
1279795
Managing Director: Mr. Sandeep
Jagdishprasad Agrawal
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00
each)
Issued Share Capital: HK$10,000.00
(As per registry dated 15-10-2011)
|
Name |
|
No. of share |
|
Sandeep Jagdishprasad AGRAWAL |
|
10,000 ===== |
(As per registry dated 21-04-2012)
|
Name (Nationality) |
Address |
|
Sandeep Jagdishprasad AGRAWAL |
Flat 13C, 5/F, Lee Shing Manison, 11-19 Wai Ching Street, Yau Ma Tei,
Kowloon, Hong Kong. |
(As per registry dated 15-10-2011)
|
Name |
Address |
Co. No. |
|
Buttar.HK Ltd. |
1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong. |
0975326 |
The subject was incorporated on 15th October, 2008 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 1/F., Mau Lam Commercial Building,
16‑18 Mau Lam Street, Jordan, Kowloon, Hong Kong where is the operating
address of Buttar.HK Ltd. Buttar.HK Ltd.
is a commercial service provider. The
subject moved to Room 513, 5/F., Beverly Commercial Centre, 87‑105 Chatham
Road, Tsimshatsui, Kowloon, Hong Kong with effect from 28th September, 2009; to
Room 13, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yau Ma Tei, Kowloon,
Hong Kong in November 2010 and further to the present address with effect from
1st March, 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: Garments,
home textiles, etc.
Employees: 4. (Including associates)
Commodities Imported: China, other Asian countries or acquired from local suppliers.
Markets: Middle
East, Africa, Europe, North America, etc.
Terms/Sales:
As per contracted.
Terms/Buying: L/C
or as per contracted.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Made a small profit in the past two years.
Condition: Business
is normal.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Bankers:
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
HBZ Finance Ltd., Hong Kong.
Standing:
Small.
Swals Exim Pvt. Ltd. is wholly-owned by Mr. Sandeep Jagdishprasad
Agrawal who is an Indian. He is a Hong
Kong ID holder and has got the right to reside in Hong Kong permanently. Agrawal is also the only director of the
subject.
The subject was in a residential building but moved to the present
address in March 2012.
Incorporated in October 2008, the subject is trading in garments, home
textiles, etc. The subject is trading in
the following commodities:-
·
Suits & Jackets - Men’s;
·
Suits & Jackets - Women’s;
·
Children’s Wear;
·
Blouses;
·
Denim Garments;
·
Dresses & Skirts;
·
Shirts; &
·
Trousers & Slacks.
Commodities are sourced from China, other Asian countries or acquired
from local suppliers. Prime markets are
the Middle East, some African countries, Eastern and Western Europe, North
America, etc.
Besides, Sandeep Jagdishprasad Agrawal is operating a website offering
clients with consultancy services on garment industry. Its business scope includes the followings:-
·
Forming joint ventures for two parties;
·
Sourcing garments for buyers; &
·
Arranging warehousing and shipping for
customers.etc.
The subject has got an associated company known as Swals Exim Pvt. Ltd.
[India Swals Exim] in Mumbai, India.
India Swals Exim is an India-based firm established in 2002. It is a manufacturer and exporter of all
kinds of garments. Having its associates
all over the world, India Swals Exim has been in this industry for more than
15 years. India Swals Exim is
trading in casual wear, knitwear, men’s wear, shirts, T-shirts (men’s, ladies’,
girls’ and boys’), ladies’ garments, etc.
It carries the following brand names: “Van-Heusen”, “Ravel”,
“Baja”, etc. Swals Exim has about 25
employees. Annual sales turnover ranges
from US$0.7 to 0.9 million.
Sandeep Jagdishprasad Agrawal is also the Managing Director of India
Swals Exim.
Another associated company Shosaan Asia Pacific is also located at the
subject’s current operating address.
This firm is engaged in the same lines of business as the subject. This firm is operated by Sandeep Jagdish
Rasad Agrawal.
The history of the subject is over three years and eight months.
On the whole, consider it good for normal business engagements in small
credit amounts.
|
Date |
Particulars |
Amount |
|
17-09-2010 |
Instrument: Lien & Set-Off Agreement Property: Deposit No.: DFN0070766 &
DFN0090946 Mortgagee: HBZ Finance Ltd., Hong Kong |
For securing general credit facility |
|
02-02-2012 |
Instrument: Lien & Set-Off Agreement Property: Distinctive DFN1121167 Swals Exim Pvt.
USD220,000.00 09-03-2012 Limited Mortgagee: HBZ Finance Ltd., Hong Kong |
For Securing (General Credit Facility) Allowed to Swals exim pvt.
Limited |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.92 |
|
|
1 |
Rs.88.91 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
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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.