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Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
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Name : |
M.CREATION CO.
LTD. |
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Registered Office : |
Room 1902(A), 19/F., 38 Plaza, |
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Country : |
Hong Kong |
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Date of Incorporation : |
15.12.2009 |
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Com. Reg. No.: |
51550080 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Textile machinery and equipment, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
No Operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
M.CREATION CO. LTD.
ADDRESS: c/o World First Secretarial Ltd.
Room 1902(A),
19/F., 38 Plaza, 38 Shan Tung Street, Mongkok, Kowloon, Hong Kong.
PHONE: 8132 4106
FAX: 8132 4105
Managing
Director: Mr. Miral Sunilkumar Kapadia
Incorporated on: 15th December, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Textile Machinery and Equipment Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
M.CREATION CO.
LTD.
ADDRESS:
Registered
Head Office:-
c/o World First
Secretarial Ltd.
Room 1902(A),
19/F., 38 Plaza, 38 Shan Tung Street, Mongkok, Kowloon, Hong Kong.
Main
Office in China:-
M.Creation Co.
Ltd.
Room 1913-1914,
19/F., Diamond Plaza, Keqiao, Shaoxing 312000 Zhejiang Province, China.
[Tel: 86-575-8478 0981, 8478
0982
Fax: 86-575-8478 0980
E-mail: mcreation@163.net]
Associated
Companies:-
Diza Creation Pvt.
Ltd., India.
S. R. Impex,
India.
51550080
1401715
Managing
Director: Mr. Miral Sunilkumar Kapadia
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 15-12-2011)
|
Name |
|
No.
of shares |
|
Miral Sunilkumar KAPADIA |
|
10,000 ===== |
(As per registry dated 15-12-2011)
|
Name (Nationality) |
Address |
|
Miral Sunilkumar
KAPADIA |
102, Govindji Palace, Parle Point Surat,
Gujarat, India. |
(As per registry dated 15-12-2011)
|
Name |
Address |
Co.
No. |
|
World
First Secretarial Ltd. |
Room 1902(A), 19/F., 38 Plaza, 38 Shan Tung Street, Mongkok, Kowloon,
Hong Kong. |
1382873 |
The
subject was incorporated on 15th December, 2009 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: Textile machinery and equipment, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: India, other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: 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: Too early to offer an opinion.
Condition: Business is under development.
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.
Having
issued 10,000 ordinary shares of HK$1.00 each, M.Creation Co. Ltd. is wholly
owned by Mr. Miral Sunilkumar Kapadia who is an Indian. He is an India passport holder and does not
have the right to reside in Hong Kong permanently. Kapadia is also the only director of the
subject.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Room
1902(A), 19/F., 38 Plaza, 38 Shan Tung Street, Mongkok, Kowloon, Hong Kong
known as World First Secretarial Ltd. which is handling its correspondences and
documents. World First Secretarial Ltd.
is also the corporate secretary of the subject.
The
subject has no employees in Hong Kong.
To
our knowledge, the subject’s main office is also known as M.Creation Co. Ltd.
[China M.Creation] which is in Shaoxing City, Zhejiang Province, China.
China
M.Creation was founded in 2006 and since then it has been engaged in
outsourcing business serving its clients in India and some other Asian
countries, the Middle East, etc.
China
M.Creation is one of the leading outsourcing companies that is spread across a
number of countries including South Korea, China, Dubai and in India. It is able to outsource products in
competitive prices as compared to more than 50 other reputed vendors in
china. China M.Creation is mainly
dealing in textile machinery, recycling plants and almost in all textile
plants. It is outsourcing these products
from China to various locations as per client requirement. Textile machinery and equipment include
embroidery, waterjet, rapier, rhine stone, etc.
Recycling plants include tyre recycling and engine oil regeneration
plant. Textile plants include non-woven bag making machine.
China
M.Creation can outsource anything from China as per customer’s
requirements. Besides, it is also
dealing in various types of yarns, namely, polyester, nylon, viscose, fancy,
cotton, etc.
China
M.Creation also trades in other commodities such as the followings:-
·
Furniture and interior decoration materials
·
Tools
·
Car accessories
·
Other OEM products, RO products
China
M.Creation operates in China while its associated company Diza Creation
operates in India.
Diza
Creation operates from India and is mainly engaged in delivering a quality-assured
gamut of yarns and fabrics to customers at affordable rates. Some of the popular products in stock include
nylon yarn, polyester yarn, viscose yarn, spun yarn, cotton yarn, staple yarn,
dyed yarn, airtex yarn (plain), airtex yarn (stub), jacquard fabrics, suiting
fabrics, etc. Diza Creation is trying to expand
its network in all over India. It is
handling export from India for textiles and other traditional products.
Most
of the time, Kapadia is in Zhejiang Province, China administering the business
of China M.Creation. He can be reached
at his mobile phone number 86-13626888886.
It
is likely that China M.Creation deals with foreign parties under the name of
the subject and let foreign firms correspond with the subject’s registered
address in Hong Kong. China M.Creation
also exports commodities to foreign markets, mainly India, under the name of
the subject and its registered address in Hong Kong.
The
subject’s business in Hong Kong is not active.
History is just over two years and four months.
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.53.34 |
|
|
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.