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Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
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Name : |
CENTRALIS TRADERS |
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Registered Office : |
Room 802, 8/F., Dina House, Ruttonjee Centre, |
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Country : |
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Date of Incorporation : |
15.08.1997 |
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Com. Reg. No.: |
15296521-001-02 |
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Legal Form : |
Sole Ownership |
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Line of Business : |
Importer, Exporter and Wholesaler of Foodstuffs, electric fans, audio/video consumer electronics, hardware, newsprint paper, housewares, leather jackets and skirts, chemicals, agro-chemicals, pharmaceuticals, dye intermediates, and sundries. |
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No. of Employees : |
9. (Including Sole Owner) |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market
economy, highly dependent on international trade and finance - the value of goods
and services trade, including the sizable share of re-exports, is about four
times GDP. Hong Kong's open economy left it exposed to the global economic
slowdown that began in 2008. Although increasing integration with China,
through trade, tourism, and financial links, helped it to make an initial
recovery more quickly than many observers anticipated, it again faces a
possible slowdown as exports to the Euro zone and US slump. The Hong Kong
government is promoting the Special Administrative Region (SAR) as the site for
Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to
establish RMB-denominated savings accounts; RMB-denominated corporate and
Chinese government bonds have been issued in Hong Kong; and RMB trade
settlement is allowed. The territory far exceeded the RMB conversion quota set
by Beijing for trade settlements in 2010 due to the growth of earnings from
exports to the mainland. RMB deposits grew to roughly 7.8% of total system
deposits in Hong Kong by the end of 2011, an increase of over 59% since the
beginning of the year. The government is pursuing efforts to introduce
additional use of RMB in Hong Kong financial markets and is seeking to expand
the RMB quota. The mainland has long been Hong Kong's largest trading partner,
accounting for about half of Hong Kong's exports by value. Hong Kong's natural
resources are limited, and food and raw materials must be imported. As a result
of China's easing of travel restrictions, the number of mainland tourists to
the territory has surged from 4.5 million in 2001 to 28 million in 2011,
outnumbering visitors from all other countries combined. Hong Kong has also
established itself as the premier stock market for Chinese firms seeking to
list abroad. In 2011 mainland Chinese companies constituted about 43% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the
Exchange's market capitalization. During the past decade, as Hong Kong's
manufacturing industry moved to the mainland, its service industry has grown
rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply
conditions caused Hong Kong property prices to rise rapidly in 2010 and
inflation to rise 5.3% in 2011. Lower and middle income segments of the
population are increasingly unable to afford adequate housing. Hong Kong
continues to link its currency closely to the US dollar, maintaining an
arrangement established in 1983.
Source
: CIA
CENTRALIS TRADERS
(Operated by DOULTSONS LTD.)
ADDRESS: Room 802, 8/F., Dina House,
Ruttonjee Centre, 11 Duddell Street, Central, Hong Kong.
PHONE: 2523 8089, 6202 3369 (Mobile)
FAX: 2810 7899
E-MAIL: doult@netvigator.com
chembiz@netvigator.com
Manager: Mr. Hasaram Gobindram
Melwani
Establishment: 15th August, 1997.
Organization: Sole Ownership.
Capital: Not disclosed.
Business Category: Importer,
Exporter and Wholesaler.
Employees: 9. (Including Sole Owner)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room 802, 8/F., Dina House, Ruttonjee Centre, 11 Duddell Street,
Central, Hong Kong.
Parent Company:-
Doultsons Ltd., Hong Kong. (See
attachment)
Ultimate Parent Company:-
Mural Holdings Ltd.
P.O. Box 71, Craigmuir Chambers, Road Town, Tortola,
British Virgin Islands.
Sister Company:-
Maruto Trading Company, Hong Kong.
[BR No. 15296521-002-02] (Same
address)
15296521-001-02
Manager: Mr. Hasaram Gobindram
Melwani
Contact Person: Mr. Neel Subbu
Doultsons Ltd., Hong Kong. (See
attachment)
The subject was established on 15th August, 1997 as a sole ownership firm
with Doultsons Ltd. as the proprietor under the Hong Kong Business Registration
Regulations.
At the very beginning, the subject was located at Room 402, 4/F., Sing Pao Centre, 8 Queens Road Central, Hong
Kong, moved to Room 1303, 13/F., Ruttonjee House, Ruttonjee Centre, 11 Duddell
Street, Central, Hong Kong in March 1998. and further to the present address in
January 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Foodstuffs,
electric fans, audio/video consumer electronics, hardware, newsprint paper,
housewares, leather jackets and skirts, chemicals, agro-chemicals,
pharmaceuticals, dye intermediates, and sundries.
Employees: 9. (Including Sole Owner)
Commodities Imported: Imported from Europe, China, Taiwan, South Korea, etc.
Markets: North
America, Africa, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
D/P and T/T.
Capital: Not
disclosed.
Profit & Loss: Making a small profit every year.
Condition: Keeping
in an active and satisfactory manner.
Facilities: Making
rather active use of general banking facilities.
Payment:
Met obligations
as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
Centralis Traders is operated by Doultsons Ltd. [Doultsons] which is
also located at the operating address of the subject.
The subject is engaged in the same line of business as Doultsons.
Currently, the subject is trading in the following commodities and
offering clients with the following services:-
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Product/Service |
Product/Service Remarks |
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Yarns, Piecegoods and Textiles |
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Piecegoods – Blended |
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Sports Goods |
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Bicycle and Tricycle, Skateboards, TT balls, bats, R balls |
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Household Products (Non-Electrical) |
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Cookware |
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Kitchenware (Melamine, Enamel, Opal Glass) |
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Stationery and Office Equipment |
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Writing Equipment |
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Paper and Paper Products |
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Paper Stationery |
Carbon paper (Exporter) |
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Food and Beverage |
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Cereal Preparations |
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Baking Powder, Milk Powder |
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Dried and Preserved Food |
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Nut – Dried |
Ground nut (Importer) Ground nut (Exporter) |
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Canned Food |
From China and Thailand (Importer) From China and Thailand (Exporter) |
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Hardware |
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Fasteners |
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Nail |
Roofing nails (Importer) Roofing nails (Exporter) |
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Vehicles, Auto Parts, Components and Accessories |
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Motor Vehicles |
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Motor Cycles |
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Machinery |
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Machinery – Textile and Garment |
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Sewing Machines and Parts – Household |
Sewing machine from Taiwan and China (Importer) Sewing machine from Taiwan and China (Exporter) |
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Machinery – Conveying |
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Wheel Barrow |
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Audio-Visual Products |
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TV and Video Equipment |
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Television (include LCD / Plasma Display / HDTV) |
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Audio Equipment |
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Electric Appliances |
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Fan – Electrical |
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Lighting Products |
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Bulbs |
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Suitcases, Shopping Bags, PP Bags |
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Motorcycles, tyres, truck tyres |
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Chemicals (including organic and inorganic) |
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Pharmaceuticals |
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The subject is able to provide customers with the other commodities
apart from the above-mentioned ones.
Commodities are chiefly sourced from China, Taiwan, South Korea,
etc. It has developed close business
ties with a number of suppliers in these countries. Products are exported to North America,
Africa, some of the Asian countries such as China, India, etc.
Doultsons is a private limited company wholly-owned by Mural Holdings
Ltd., a BVI-registered firm. Its
Managing Director, Mr. Hasaram Gobindram Melwani, is an Indian who has been in
Hong Kong for a very long time. He
is a Hong Kong ID card holder.
In fact, Doultsons is wholly-owned by the Melwani family.
Doultsons is a well established trading firm in Hong Kong. It is registered in Hong Kong but is also a
China trader.
Doultsons specializes in organic and inorganic chemicals,
pharmaceuticals, agro-chemicals, dye intermediates and the above-mentioned
commodities.
Doultsons has a wide range of customers ranging from leading multinational
companies to local conglomerates to individual buyers. Its customers are mainly based in India,
China and Africa.
The subject and its parent have a rather high credit rating with leading
banks and has a reputation for being “trustworthy, reliable and honourable” in
their business activities.
According to the subject, its annual sales turnover (including
Doultsons) is over US$100 million.
Overall business is satisfactory.
Making a small profit every year.
The subject considers its markets keep on expanding.
The contact person Mr. Neel Subbu is also an Indian.
On the whole, since the history of the subject is over fifteen years,
consider it good for normal business engagements.
DOULTSONS LTD.
(Trading as CENTRALIS TRADERS and MARUTO TRADING COMPANY)
ADDRESS: Room 802, 8/F., Dina House,
Ruttonjee Centre, 11 Duddell Street, Central, Hong Kong.
15296521-000-02
0343150
11th February, 1992.
Nominal Share Capital: HK$8,000,000.00 (Divided into 8,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$8,000,000.00
(As per registry dated 11-02-2012)
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Name |
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No. of shares |
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Mural Holdings Ltd. P.O. Box 71, Craigmuir Chambers, Road Town, Tortola,
British Virgin Islands. |
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7,999,999 |
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Hasaram Gobindram MELWANI |
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1 |
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–––––––– |
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Total: |
8,000,000 ======= |
(As per registry dated 29-02-2012)
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Name (Nationality) |
Address |
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Naresh Hassaram MELWANI |
Flat 1, 19/F., Villa Monte Rosa, 41A Stubbs Road, Hong Kong. |
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Hasaram Gobindram MELWANI |
Flat 1, 19/F., Villa Monte Rosa, 41A Stubbs Road, Hong Kong. |
Naresh Hassaram MELWANI (As per
registry dated 11-02-2012)
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.20 |
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UK Pound |
1 |
Rs.88.38 |
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Euro |
1 |
Rs.71.47 |
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 |
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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.