MIRA INFORM REPORT
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Report Date : |
29.03.2012 |
IDENTIFICATION DETAILS
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Name : |
VIKUDHA
OVERSEAS CORPORATION LTD |
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Registered Office : |
Room 1201-1202A, 12/F.,
The Centrium, |
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Country : |
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Year of Establishment : |
1973 |
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Com. Reg. No.: |
22332005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Electronics, chemicals, pharmaceuticals, plastic products, minerals, edible oil, etc. |
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No. of Employees
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07 |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
VIKUDHA OVERSEAS CORPORATION LTD.
Room 1201-1202A, 12/F., The Centrium, 60 Wyndham Street, Central, Hong Kong.
PHONE: 2523 4554
FAX: 2521 3261
E-MAIL: office@vikudha.com
Managing Director: Mr. Deap Kumar Adukia
Founded in: 1973.
Incorporated on: 12th March, 1999.
Organization: Private Limited Company.
Capital: Nominal: HK$100,000,000.00
Issued: HK$40,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 7.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
· Room 1201-1202A, 12/F., The Centrium, 60 Wyndham Street, Central, Hong Kong.
· G.P.O. Box 2842, Hong Kong.
Associated/Affiliated
Companies:-
· C.I. Vikudha Andina S.A.S., Colombia.
· Consumer Marketing (India) Pvt. Ltd., India.
· Nova Petroleum Specialties Co. LLC, USA.
· Sinoasia Minerals Sdn. Bhd., Malaysia.
· Vikudha (Malaysia) Sdn Bhd, Malaysia.
· Vikudha (Thailand) Co. Ltd., Thailand.
· Vikudha (Tianjin) Corporation Ltd., China.
· Vikudha Brasil, Brasil.
· Vikudha Centroamérica & Caribe S.A., Guatemala.
· Vikudha Singapore Pte. Ltd., Singapore.
· Vikudha Sur América S.A.C., Peru.
· Vikudha Türkiye İrtibat Bürosu, Turkey.
· VOC Central America S.A., Costa Rica.
22332005
0669390
Managing Director: Mr. Deap Kumar Adukia
Contact Persons: Ms. Choi Ching Yin, Anita Ms. Joey Lau
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$40,000,000.00
(As per registry
dated 12-03-2012)
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Name |
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No. of shares |
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Vikash ADUKIA |
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20,000,000 |
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Deap Kumar ADUKIA |
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20,000,000 |
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––––––––– |
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Total: |
40,000,000 ======== |
(As per registry
dated 12-03-2012)
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Name (Nationality) |
Address |
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Deap Kumar ADUKIA |
Flat C, 24/F., Caine Mansion, 80-88 Caine Road, Hong Kong. |
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Vikash ADUKIA |
Flat C, 24/F., Caine Mansion, 80-88 Caine Road, Hong Kong. |
(As per registry
dated 12-03-2012)
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Name |
Address |
Co.
No. |
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Hashmi Secretarial Services Ltd. |
Room 1811, 18/F., Rise Commercial Building, 5‑11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong. |
0770656 |
The subject was originally founded in 1973 bearing the name of Vikudha Overseas Corporation. Re-organised and incorporated on 12th March, 1999 as a private limited liability company under the Hong Kong Companies Ordinance.
Initially the subject was located at Room 3006, 30/F., The Centrium, 60 Wyndham Street, Central, Hong Kong, moved to Room 1201-1202A of the same building in June 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Electronics, chemicals, pharmaceuticals, plastic products, minerals, edible oil, etc.
Employees: 7.
Commodities Imported: China, Taiwan, etc.
Markets: Other Asian countries, Australia, North America, Western Europe, Central & South
America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, O/A, etc.
The Indian Chamber of Commerce Hong Kong, Hong Kong.
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$40,000,000.00
Mortgage or Charge
(since April 2011): (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 as contracted.
Commercial Morality: Satisfactory.
Bankers:-
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
· Indian Overseas Bank, Hong Kong Branch.
· UCO Bank, Hong Kong Branch.
· DBS Bank (Hong Kong) Ltd., Hong Kong.
· Dah Sing Bank Ltd., Hong Kong.
· Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
· Bank of India, Hong Kong Branch.
Standing: Normal.
Having issued 40 million ordinary shares of HK$1.00 each, Vikudha Overseas Corporation Ltd. is equally owned by Mr. Vikash Adukia and Mr. Deap Kumar Adukia. Being Indian merchants, they are also directors of the subject.
Currently, the subject is trading in the following commodities and offering clients with the following services:-
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Pharmaceutical and Medicine |
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Pharmaceutical Preparation |
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Chemicals (including Plastic Materials) |
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Plastic Materials (including Resins and Sheet) |
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Industrial Chemicals |
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Minerals |
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Edible Oil |
The subject is a privately owned group with head office in Hong Kong and branch offices in China, India, Singapore, Turkey, Peru, Guatemala, Vietnam, Malaysia, Thailand, Colombia and Brazil. The presence of offices in these countries has acted as a springboard in the growth of the group which now has trade activities in China, India, Turkey, Latin America, Western and Central Europe, the Middle East, Asia Pacific and Africa. It has mining activities in Malaysia and Chemical distribution activities in various countries.
The subject trades in petrochemicals, industrial chemicals, minerals, edible oil and plastic raw materials. Commodities are sourced from worldwide countries and re-exported to China, other Asian countries, Europe, Latin America, etc.
In 2009, the subject set up offices in Ho Chi Minh City of Vietnam, Guatemala City of Guatemala, Lima of Peru. In 2010, it opened an office in Bangkok of Thailand.
The subject is chiefly controlled by the Adukia family. Annual sales turnover is significant as regular suppliers and overseas customers have been maintained.
The subject claims that the annual sales turnover of the group is over US$220 million.
The history of the subject in Hong Kong is over thirteen years.
On the whole, consider it good for normal business engagements.
REMARKS:
Property information of the company:-
Property Location: Flat A on 24/F., Caine Mansion, 80-88 Caine Road, Hong Kong.
Owner: Vikudha Overseas Corporation Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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20-05-2008 |
- |
Indian Overseas Bank, Hong Kong Branch. |
Mortgage to secure general banking facilities |
(Since April 2011)
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Date |
Particulars |
Amount |
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13-05-2011 |
Instrument: Charge on Cash Deposit to secure Liabilities of the Depositor Property: (1) By way of first fixed charge and agreement to charge: the Deposit and all rights, title and interest of the Company (2) By way of set-off: any sum standing to the credit of any one or more of the accounts of the Company Mortgagee: DBS Bank (Hong Kong) Ltd., Hong Kong. |
All sums of money and liabilities |
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20-05-2011 |
Instrument: Charge on Deposit Property: (1) The Customer charges the Deposit @Account No. 7451011944 for HK$3,050,000 to the Bank. (2) Secured Indebtedness Mortgagee: Dah Sing Bank Ltd., Hong Kong. |
General banking facilities to the extent of HK$3,050,000.00 |
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29-08-2011 |
Instrument: Security Agreement over Securities (All moneys) Property: (1) By way of first fixed charge; (a) all Specified Securities; (b) all Specified Securities; (c) all Related Rights of a capital nature; (d) all Related Rights of an income nature; (e) where Specified Securities are held in a Relevant System; and (2) By way of assignment, all the Chargor’s rights, title and interest, present and future, in and to any Specified Securities and any Related Rights Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure the payment and satisfaction of all present and future obligations and liabilities |
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20-02-2012 |
Instrument: Letter of Set-Off & Appropriation Property: Deal No. Date Amount Due Date 174829 09-01-2012 US$1,012,743.06 09-01-2013 Mortgagee: Bank of India, Hong Kong Branch. |
Advances and other 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.50.92 |
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UK Pound |
1 |
Rs.81.21 |
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Euro |
1 |
Rs.67.85 |
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 |
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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.