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Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MILLION
CENTURY GARMENT LTD. |
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Registered Office : |
C/o Akin Professionals Ltd., 20/F., |
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Country : |
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Date of Incorporation : |
19.10.2010 |
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Com. Reg. No.: |
54062436 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of garments, 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 : |
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 |
|
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 |
MILLION CENTURY GARMENT LTD.
c/o Akin Professionals Ltd.
20/F.,Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong.
PHONE: 2541 4224
FAX: 2541 4225
Managing Director: Mr. Aditya Mehra
Incorporated on: 19th October, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Garment Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
c/o Akin Professionals Ltd.
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong.
54062436
1517045
Managing Director: Mr. Aditya Mehra
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry
dated 19-10-2010)
|
Name |
|
No. of share |
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Company Kit Secretarial Services Ltd., Hong Kong. |
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1 = |
(As per registry
dated 24-03-2012)
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Name (Nationality) |
Address |
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Aditya MEHRA |
404 sector 28, Noida, UP, India. |
(As per registry
dated 08-09-2011)
|
Name |
Address |
Co.
No. |
|
Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong. |
1273165 |
The subject was incorporated on 19th October, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.
Initially the subject’s registered address was located at 6/F., Shun On Commercial Building, 112-114 Des Voeux Road Central, Hong Kong where was the operating address of Company Kit Secretarial Services Ltd., a Hong Kong-registered firm. It moved to the present address with effect from 8th September, 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter.
Lines: All kinds of garments, etc.
Employees: Nil.
Commodities Imported: India, China, other Asian countries, etc.
Markets: Asian countries, Europe, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
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 required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued just one ordinary share of HK$1.00, Million Century Garment Ltd. is wholly owned by Company Kit Secretarial Services Ltd. [Company Kit] which is a Hong Kong-based secretarial firm.
The director of the subject Aditya Mehra is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject who was appointed on 24th March, 2012.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at 20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong known as Akin Professionals Ltd. which is handling its correspondences and documents. Akin Professionals Ltd. is also the corporate secretary of the subject.
The subject has no employees in Hong Kong. It is a garment trader.
The subject has got an associated company in India which is also operated by Mehra. The associated firm is also a garment trader.
It is likely that the India firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. The India firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.
The history of the subject in Hong Kong is just over a year and six 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 secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.34 |
|
UK Pound |
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.37 |
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 |
|
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 |
|
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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.