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Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
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Name : |
NINO TRADING (HK) LTD. |
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Registered Office : |
Flat E, 7/F., Hankow Apartments, |
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Country : |
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Date of Incorporation : |
18.10.1974 |
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Com. Reg. No.: |
04274524 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Timepieces, Watches, Clocks, Watch Movements, Watch Parts, etc. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRAs 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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
NINO TRADING
(HK) LTD.
ADDRESS: Flat E, 7/F., Hankow
Apartments, 43-49 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2368 3392
FAX: 2368 7216
E-MAIL: ninotrdge@netvigator.com
Managing Director: Mr. Rajkumar
Metharam Bhavnani
Incorporated on: 18th
October, 1974.
Organization: Private
Limited Company.
Capital: Nominal: HK$2,000,000.00
Issued : HK$2,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
3.
Main Dealing Banker: HBZ Finance Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Flat E, 7/F., Hankow Apartments, 43-49 Hankow Road, Tsimshatsui,
Kowloon, Hong Kong.
04274524
0040536
Managing Director: Mr. Rajkumar
Metharam Bhavnani
Nominal Share Capital: HK$2,000,000.00 (Divided into 4,000 shares of
HK$500.00 each)
Issued Share Capital: HK$2,000,000.00
(As per registry dated 18-10-2011)
|
Name |
|
No. of shares |
|
Rajkumar Metharam BHAVNANI |
|
4,000 ==== |
(As per registry dated 18-10-2011)
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Name (Nationality) |
Address |
|
Rajkumar Metharam BHAVNANI |
Flat A, 18/F., Mandarin Garden, 12 Man Fuk Road, Kowloon, Hong Kong. |
|
Rekha Rajkumar BHAVNANI |
Flat A, 18/F., Mandarin Garden, 12 Man Fuk Road, Kowloon, Hong Kong. |
(As per registry dated 18-10-2011)
|
Name |
Address |
Co. No. |
|
Marfan & Associates Ltd. |
11/F., Fortis Tower1, 77-79 Gloucester Road, Hong Kong. |
0094488 |
The subject was incorporated on 18th October, 1974 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Nino Industries
Ltd., name changed to the present style on 21st March, 1980.
Last time, the subject was located at Room 701, 7/F., Kimbereley Plaza,
Kimbereley Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address
in February 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Timepieces,
Watches, Clocks, Watch Movements, Watch Parts, etc.
Employees: 3.
Commodities Imported:-
Markets: India,
other Asian countries, etc.
Annual Turnover: Un-reported.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
D/P, etc.
Nominal Share Capital: HK$2,000,000.00 (Divided into 4,000 shares of
HK$500.00 each)
Issued Share Capital: HK$2,000,000.00
Mortgage or Charge:-
Date of Lien &
Set-off Agreement (Fixed Deposits):
15-06-1999
Amount: For securing general credit
facilities
Property: Fixed Deposit Receipt No.: DFN9040483
Principal Amount: USD24,925.68
Maturity Date: 22-07-1999
Mortgagee: HBZ Finance Ltd., Hong Kong.
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
HBZ Finance Ltd., Hong Kong.The
Hongkong.
Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
Having issued 4,000 ordinary shares of HK$1.00 each, Nino Trading (HK)
Ltd. is wholly owned by Mr. Rajkumar Metharam Bhavnani who is an Indian. He is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently.
The subject is in a residential building Hankow Apartments which is
located at 43-49 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.
Incorporated in October 1974, the subject is a business of the Bhavnani
family.
The subject has had an associated company Miracle Sourcing Inc. which is
also located at the same address. This
firm has not registered in Hong Kong.
The subject is trading in the following commodities:Timepieces, Watches,
Clocks, Watch Movements, Watch Parts, etc.
Commodities are imported from Europe, Japan, other Asian countries. Prime markets are India, other Asian
countries, the Middle East, etc. Regular
suppliers and foreign customers have been maintained. Overall business has been active. Business is profitable.
At present, the subject is managed by the second generation of the
Bhavnani family.
As the history of the subject is over thirty-seven years in Hong Kong,
on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.93 |
|
|
1 |
Rs.88.15 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs 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.