MIRA INFORM REPORT

 

 

Report Date :           

13.03.2012

 

IDENTIFICATION DETAILS

 

Name :

SHOSAAN  ASIA  PACIFIC

 

 

Registered Office :

Flat 13C, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yaumatei, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

16.12.2010

 

 

Com. Reg. No.:

53467556-000-12

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer and Exporter of all kinds of garments

 

 

No. of Employees :

04

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Concern

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

 

SHOSAAN  ASIA  PACIFIC

 

 

Company ADDRESS

 

Flat 13C, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yaumatei, Kowloon, Hong Kong.

PHONE:            2377 4436,  2376 7119

FAX:                 2377 4055

 

 

MANAGEMENT

 

Manager:           Mr. Sandeep Jagdish Rasad Agrawal

 

 

SUMMARY

 

Establishment:                          16th December, 2010.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Garment Trader.

 

Employees:                   4.  (Including associates)

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company aDDRESS

 

Registered Head Office:-

Flat 13C, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yaumatei, Kowloon, Hong Kong.

 

Associated Companies:-

Swals Exim Pvt. Ltd., Hong Kong.  (Same address)

Swals Exim Pvt. Ltd., India.

 

Affiliated Company:-

Cosmos Ltd., Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

53467556-000-12

 

 

MANAGEMENT

 

Manager:  Mr. Sandeep Jagdish Rasad Agrawal

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Sandeep Jagdish Rasad AGRAWAL

Residential Address:      Flat 13C, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yaumatei, Kowloon, Hong

Kong.

 

 

HISTORY

 

The subject was established on 16th December, 2010 as a sole proprietorship concern owned by Mr. Sandeep Jagdish Rasad Agrawal under the Hong Kong Business Registration Regulations.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of garments.

 

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.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Made a small profit in 2010.

 

Condition:                      Business is normal.

 

Facilities:                      Making fairly 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:                      Small.

 

 

GENERAL

 

Shosaan Asia Pacific is a sole proprietorship owned by Mr. Sandeep Jagdish Rasad Agrawal who is an Indian.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  Agrawal is also the manager of the subject.

The subject has had an associated company Swals Exim Pvt. Ltd. [Swals] located at its operating address.  The subject and Swals are engaged in the same lines of business.

The subject is in a residential building located at Flat 13C, 5/F., Lee Shing Mansion, 11-19 Wai Ching Street, Yaumatei, Kowloon, Hong Kong.

Established in December 2010, the subject is trading in garments, home textiles, etc.  It is trading in the following commodities:-

·         Suits and Jackets ‑ Men’s

·         Suits and Jackets ‑ Women’s

·         Children’s Wear

·         Blouses

·         Denim Garments

·         Dresses and Skirts

·         Shirts

·         Trousers and Slacks

Commodities are sourced from China, other Asian countries or acquired from local suppliers.  Prime markets are the Middle East, some African countries, Europe, North America, etc.

Besides, Sandeep Jagdish Rasad Agrawal is operating a website offering clients with consultancy services on garment industry.  Its business scope includes the following:-

·         Forming joint ventures for two parties

·         Sourcing garments for buyers

·         Arranging warehousing and shipping for customers

etc.

The subject has got an associated company also known as Swals Exim Pvt. Ltd. [India Swals Exim] which is 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.  It has about 25 employees.  Annual sales turnover ranges from US$0.7 to 0.9 million.  Sandeep Jagdish Rasad Agrawal is also the Managing Director of India Swals Exim.

Another affiliated company Cosmos Ltd. is also located at the subject’s operating address.

The history of the subject is just a year and two months.

On the whole, as the history of the subject is short in Hong Kong, consider it good for normal business engagements on secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.94

UK Pound

1

Rs.78.25

Euro

1

Rs.65.39

 

 

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.