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Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
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Name : |
TERRAPOLIS ASIA LTD. |
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Registered Office : |
Unit 1312, 13/F., Laurels Industrial Centre, 32 Tai Yau Street, San Po
Kong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.01.2012 |
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Com. Reg. No.: |
59336872 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Financial Services Holding · Importer and Exporter of Decoration Materials, furniture |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% 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,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. 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
TERRAPOLIS ASIA
LTD.
Address: Flat A, 6/F.,
Wing Yee Commercial Building,
3-7 Wing
Kut Street, Central,
Hong Kong.
(Operating Office)
and
Unit 1312, 13/F., Laurels Industrial Centre,
32 Tai Yau Street, San Po Kong,
Kowloon, Hong Kong.
(Registered Office)
PHONE: 852-3425 4633
Managing Director: Mr. Devinder
Kumar Khanna
Incorporated on: 11th
January, 2012.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Financial Services Holding; Importer and Exporter.
Employees:
3.
Main Dealing Banker: ICICI Bank Ltd., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Address:-
Unit 1312, 13/F., Laurels Industrial Centre, 32 Tai Yau Street, San Po
Kong, Kowloon, Hong Kong.
Operating Office:-
Flat A, 6/F., Wing Yee Commercial Building, 3-7 Wing Kut Street,
Central, Hong Kong.
Holding Company:-
Terrapolis Ltd., UK.
Associated Companies:-
Centrum Landmark Pvt. Ltd., India.
Terrapolis Buildcon Pvt. Ltd., India.
Terrapolis Construction Pvt. Ltd., India.
Terrapolis Structures Pvt. Ltd., India.
59336872
1698340
Managing Director: Mr. Devinder
Kumar Khanna
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00
each)
Issued Share Capital: HK$10,000.00
(As per registry dated 11-01-2013)
|
Name |
|
No. of shares |
|
Terrapolis Ltd. Studland Hall, Studland Street, London, W6 0JS, UK. |
|
10,000 ===== |
(As per registry dated 11-01-2013)
|
Name (Nationality) |
Address |
|
Devinder Kumar KHANNA |
2 Kenton Gardens, Harrow, Middlesex, HA3 8DE, England, UK. |
|
Rajanya Aditya RAVASIA |
707, 7/F., Parmeshwari Centre, 18 Dalmia Estate P/T Colony, Mumbai
Mulund 400080, India. |
(As per registry dated 11-01-2013)
|
Name |
Address |
Co. No. |
|
Rya Management Ltd. |
Rooms 1318-1320, Hollywood Plaza, 610 Nathan Road, Mongkok,
Kowloon, Hong Kong. |
0627200 |
The subject was incorporated on 11th January, 2012 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: Financial Services Holding; Importer
and Exporter.
Lines: Decoration Materials,
furniture.
Employees: 3.
Commodities Imported: China, other Asian countries, etc.
Business Territories/Markets: Hong Kong, India, other Asian countries, UK,
etc.
Terms/Sales/Service: As
per contracted.
Terms/Buying: Various
terms.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Too early to
offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general
banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory
Banker:
ICICI Bank
Ltd., Hong Kong Branch.
Standing:
Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Terrapolis Asia
Ltd. is wholly owned by Terrapolis Ltd. [Terrapolis] which is a UK-based firm.
The directors of the subject are Mr. Devinder Kumar Khanna and
Mr. Rajanya Aditya Ravasia. The
former is a UK-passport holder while the latter is an India passport
holder. The former is residing in the
United Kingdom while the latter in India.
We can reach the subject at your given phone number 852-3425 4633. Business commenced in January 2012, the
subject is located at Flat A, 6/F., Wing Yee Commercial Building, 3-7 Wing Kut
Street, Central, Hong Kong which is different from its registered address.
The subject is engaged in the same lines of business as Terrapolis. Terrapolis is an active business incorporated
in England and Wales on 12th December, 2011.
Its business activities are Financial Services Holding Companies.
Besides, the subject has had an associated company Terrapolis
Construction Pvt Ltd. [TCPL] which is in India.
This firm is run by Rajanya Aditya Ravasia who is the Director.
Besides TCPL, the following firms are also located at the same address
as TCPL in India:-
·
Centrum Landmark Private Ltd. [CLPL];
·
Terrapolis Buildcon Private Ltd. [TBPL].
To our knowledge, TCPL is trading in furniture and decoration
products. Its associated companies are
engaged in building and construction business.
All the above-mentioned firms are managed by Rajanya Aditya Ravasia.
TBPL was incorporated on 21st August, 2012 while CLPL was incorporated
on 18th January, 2013. The businesses of
these two firms are still under development.
The history of the subject in Hong Kong is just over a year.
On the whole, since the history of the subject is short in Hong Kong,
consider it good for normal business engagements on L/C basis.
|
Date |
Particulars |
Amount |
|
31-05-2012 |
Instrument: Charge Over Cash Deposit between the
Company and the Bank Property: By way of a first fixed charge, all the company’s present & future
rights in respect of the sums of money described below & all interest
from time to time accruing or payable thereon 1) The sums deposited by
the company or for it’s benefit in the savings and deposit account, including
any renewal or redesignation thereof, or evidenced by deposit additions to or
renewals or replacements of such in any currency & any deposit with the
Bank which derives in whole or in part from any such sums and which is made
in the company’s name or for it’s benefit 2) All other sums in any
currency from time to time standing to company’s credit or the credit of any
other person for the company’s benefit on any deposit or other account with
the Bank including additions to or renewals or replacements of such sums; 3) Any amount received by
or for the account of the Bank which the Bank is under a duty to credit to
the account’s but which the Back has not yet credited to the account’s; and 4) Any interest and/or
other amounts accrued or accruing on an amount covered by paragraphs (1) to
(3) above whether or not the interest has been credited to that accounts Mortgagee: ICICI Bank Ltd., Hong Kong
Branch. |
All monies at the date of the Deed or at any time thereafter or from
time to time due |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.69 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
-- |
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.