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Report Date : |
28.05.2012 |
IDENTIFICATION DETAILS
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Name : |
HARDGATE
HOLDINGS LTD. |
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Registered Office : |
c/o Intertrust Corporate Services Ltd., Room 3806, 38/F., Central Plaza, 18 Harbour Road, Wanchai |
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Country : |
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Date of Incorporation : |
20.06.1991 |
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Com. Reg. No.: |
14623498 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Hardware, nuts,
bolts, screws, fasteners, other engineering components, etc. |
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No. of Employees : |
Not Available |
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
|
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 |
HARDGATE HOLDINGS
LTD.
c/o Intertrust Corporate Services Ltd.
Room 3806, 38/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
PHONE: 2802 7711
FAX: 2802 7733
Managing Director: Mr. Karthik Narayanan Chetput Venkatasubban
Incorporated on: 20th June, 1991.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$20.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
c/o Intertrust Corporate Services Ltd.
Room 3806, 38/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
Associated
Company:-
Hardgate Holdings Ltd.
No. 13/7, 1st Street,
Rathna Nagar, Teynampet, Chennai-600018, Tamil Nadu, India.
[Tel: 91-44-2435 9635]
14623498
0314804
Managing Director: Mr. Karthik Narayanan Chetput Venkatasubban
Nominal Share Capital: HK$10,000.00 (Divided into 1,000 shares of HK$10.00 each)
Issued Share Capital: HK$20.00
(As per registry
dated 20-06-2011)
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Name |
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No. of shares |
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Ramgopal NARAYANAN |
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1 |
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Karthik Narayanan Chetput VENKATASUBBAN |
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1 |
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– |
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Total: |
2 = |
(As per registry
dated 25-07-2011)
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Name (Nationality) |
Address |
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Ramgopal NARAYANAN |
No. 32, Maharaja Surya Rao Road, Alwarpet, Chennai - 600 0180, India. |
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Karthik Narayanan CHETPUT VENKATASUBBAN |
No. 32, Maharaja Surya Rao Road, Alwarpet Chennai - 600 018, India. |
(As per registry
dated 20-06-2011)
|
Name |
Address |
Co.
No. |
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Prinza Ltd. |
Room 3806, 38/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. |
0334490 |
The subject was incorporated on 20th June, 1991 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: Hardware, nuts, bolts, screws, fasteners, other engineering components, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: India, Europe, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 1,000 shares of HK$10.00 each)
Issued Share Capital: HK$20.00
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 2 ordinary shares of HK$1.00 each, Hardgate Holdings Ltd. is equally owned by Mr. Ramgopal Narayanan and Karthik Narayanan Chetput Venkatasubban. Both of the shareholders are Indian. The former is a UK passport holder while the latter is an India passport holder. Currently, both are residing in Chennai, India.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 3806, 38/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong’ known as ‘Intertrust Corporate Services Ltd.’ which is handling its correspondences and documents. An associate of this firm known as Prinza Ltd. is the corporate secretary of the subject. Prinza Ltd. is also located at the above-mentioned address.
The subject has no employees in Hong Kong.
To our knowledge, the subject has had an associated company bearing the same name in India, Herein after is referred to Hardgate. Located at Tamil Nadu, India, Hardgate is trading in the following commodities: hardware, nuts, bolts, screws, fasteners, other engineering components, etc.
The business of Hardgate is chiefly handled by Venkatasubban. The subject is engaged in the same lines of business as Hardgate.
The subject’s commodities are chiefly sourced from China and other Asian countries. India is one of its main markets. It also re-exports its products to the United Kingdom, other European countries, etc.
It is also likely that the subject also has had an associated company in the United Kingdom. The UK firm is responsible for the distribution of the products of Hardgate in Europe.
The subject’s business in Hong Kong is not active. History in Hong Kong is over twenty years.
On the whole, consider it good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.73 |
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UK Pound |
1 |
Rs.87.26 |
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Euro |
1 |
Rs.69.89 |
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.