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Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
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Name : |
COMDAQ
INDUSTRIES |
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Registered Office : |
c/o Simon Chong & Co., Room 1426, 14/F., Hollywood Plaza, 610 Nathan Road, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.02.2004 |
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Com. Reg. No.: |
34244032-000-02 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of Textiles, gift items, toys, stationery, hyper market products like gifts, toys, stationery, articles of daily use, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
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 |
COMDAQ INDUSTRIES
c/o Simon Chong & Co.
Room 1426, 14/F., Hollywood Plaza, 610 Nathan Road, Kowloon, Hong Kong.
PHONE: 2388 9038
FAX: 2388 9903
E-MAIL: girdhar@comdaqindustries.com
Manager: Mr. Girdhar Gopal Jhanwar
Establishment: 2nd February, 2004.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
c/o Simon Chong & Co.
Room 1426, 14/F., Hollywood Plaza, 610 Nathan Road, Kowloon, Hong Kong.
Main China Office:-
302, 3/F, Jiang Bin Middle Road, Yiwu City, Zhejiang Province, 322000 China.
[Tel: (86-579) 8999 1555
Fax: (86-579) 8999 1599
E-mail: girdhar@comdaqindustries.com ]
34244032-000-02
Manager: Mr. Girdhar Gopal Jhanwar
Name: Mr. Girdhar Gopal Jhanwar
Residential Address: Flat
C, 14/F., Liberty Mansion, 26E Jordan Road, Kowloon, Hong Kong.
The subject was established on 2nd February, 2004 as a Sole Proprietorship concern owned by Mr. Girdhar Gopal Jhanwar under the Hong Kong Business Registration Regulations.
At the very beginning, the registered address of the subject was located at Flat C, 14/F., Liberty Mansion, 26E Jordan Road, Kowloon, Hong Kong, moved to Room 615, 6/F., Hollywood Plaza, 610 Nathan Road, Kowloon, Hong Kong in March 2004 and further to Room 1462 of the same building in May 2010.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Textiles, gift items, toys, stationery, hyper market products like gifts, toys, stationery, articles of daily use, etc.
Employees: Nil.
Commodities Imported: India, China, etc.
Markets: India, China, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
Capital: Not disclosed.
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.
Comdaq Industries is a sole proprietorship set up and owned by Mr. Girdhar Gopal Jhanwar who is an Indian.
The subject commenced business in February 2004. It does not have its own operating office. Its registered office is in a commercial service firm located at Room 1426, 14/F., Hollywood Plaza, 610 Nathan Road, Kowloon, Hong Kong known as Simon Chong & Co. which is handling its correspondences and documents. The subject has no employees in Hong Kong.
The subject’s main office is in Yiwu City, Zhejiang Province, China. Besides, it also has had other offices in Guangzhou, Keqiao (Shaoxing), Jiangsu Province, Changsha, Ningbo, etc.
The subject deals in various
commodities such as the followings: textiles, gift items, toys, stationery,
hyper market products like gifts, toys, stationery, articles of daily use,
household articles, plastic wares, steel & steel products (like G.I. wire,
wire ropes, CR steel, HR steel, MS steel, tin plates), chemicals (organic &
inorganic), etc. Commodities are chiefly
sourced from China and exported to worldwide countries.
It also exports raw cotton,
yarns (including cotton, polyester, acrylic, wool, viscose rayon), denim and
other textile products from China and India.
According to the subject, the
turnover of the Group for the year 2007 was around US$200 million. Now, the annual sales turnover of the Group
ranges from US$250 to 300 million.
Business is rather active and lucrative.
Regular suppliers and customers in India have been maintained.
The subject’s business in
Hong Kong is not active. 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.55.93 |
|
UK Pound |
1 |
Rs.88.15. |
|
Euro |
1 |
Rs.70.88 |
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 |
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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 |
|
<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.