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Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room 1725-26, 17/F., Star House, |
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Country : |
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Date of Incorporation : |
10.01.1960 |
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Com. Reg. No.: |
00957738-000-01 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of Camcorders, cameras & photographic equipment, photographic & optical equipment, etc. |
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No. of Employees : |
5. (Including
sister companies) |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
EAST ASIA
TRADING CO.
Room 1725-1726, 17/F., Star House, 3 Salisbury Road, Tsim Sha Tsui, Kowloon, Hong Kong.
PHONE: 2522 5225
FAX: 2868 5955
E-MAIL: eahk@hkstar.com
Manager: Mr. Shankarlal Sureka
Establishment: 10th January, 1960.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: US$20-25 million.
Employees: 5. (Including sister companies)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room 1725-26, 17/F., Star House, 3 Salisbury Road, Tsim Sha Tsui, Kowloon, Hong Kong.
Sister
Companies:- (Same address)
Peoples Marketing Network, Hong Kong. [BR No. 00957738-005]
Richfield Export Corp., Hong Kong. [BR No. 00957738-002]
United Marketing, Hong Kong. [BR No. 00957738-006]
Universal Watch Co., Hong Kong. [BR No. 00957738-003]
00957738-000-01
Manager: Mr. Shankarlal Sureka
Name: Mr. Shankarlal SUREKA
Residential Address: Apartment
E, 13/F., 29 Conduit Road, Hong Kong.
The subject was established on 10th January, 1960 as a sole proprietorship concern owned by Mr. Shankarlal Sureka under the Hong Kong Business Registration Regulations.
The subject has changed its registered address for a number of times. It moved to the present address in April 2007.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Camcorders, cameras & photographic equipment, photographic & optical equipment, etc.
Employees: 5. (Including branch companies)
Commodities Imported: Japan, etc.
Markets: Hong Kong, India, South Korea, Taiwan, other Asian countries, North America, etc.
Annual Turnover: US$20-25 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
Capital: Not disclosed.
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.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
East Asia Trading Company is a sole proprietorship set up and owned by Mr. Shankarlal Sureka who is an Indian. Being the manager of the subject, Sureka is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
The subject commenced business in January 1960, It has set up the following
sister companies which are also located at its operating address:-
· Peoples Marketing Network [PMN]
· United Marketing [UM]
· Richfield Export Corp., Hong Kong [REC]
· Universal Watch Co., Hong Kong [UWC]
PMN commenced business on 26th August, 2010 while UM commenced business on 10th January, 2011.
The subject and its associated company and branch companies are trading in the following commodities: camcorders, cameras & photographic equipment, photographic & optical equipment, other electronic products, etc.
Most of the commodities are sourced from Japan. The subject and UWC export their products to India, South Korea, Taiwan, other Asian countries, North America, etc. Business is active.
The annual sales turnover of the subject ranges from HK$20 to 25 million. Making a small profit every year. Regular suppliers and foreign customers have been maintained.
The subject’s business is chiefly handled by Mr. Shankarlal Sureka himself.
As the history of the subject is over 52 years in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.29 |
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UK Pound |
1 |
Rs.88.26 |
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Euro |
1 |
Rs.70.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.