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Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
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Name : |
GREENS LTD. |
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Registered Office : |
Room 273, Houston Centre, 63, Mody Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.01.1988 |
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Com. Reg. No.: |
11545645 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Canned food, Kitchen Appliances, Electric Products, Milk, Personal Care Electric Appliances, Electronic Products, Toys, General Household Goods, Sundry Items. |
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No. of Employees : |
7 |
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 : |
Good |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 |
GREENS LTD.
Room 273, Houston
Centre, 63, Mody Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2721 9682, 2721 9724
FAX: 852-2369 1588
E-MAIL: green@netvigator.com
info@greensltd.com.hk
Managing
Director: Mr. Deepak Jiwatram Sujan
Incorporated on: 12th January, 1988.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 7.
Main Dealing Banker: China Construction Bank (Asia) Corporation, Hong Kong.
Banking Relation: Good.
GREENS LTD.
Registered
Head Office:-
Room 273, Houston Centre,
63, Mody Road, Tsimshatsui, Kowloon, Hong Kong.
11545645
0207826
Managing
Director: Mr. Deepak Jiwatram Sujan
Nominal Share
Capital: HK$1,000,000.00 (Divided into 100,000 shares
of HK$10.00 each)
Issued Share
Capital: HK$10,000,000.00
(As per registry dated 12-01-2013)
|
Name |
|
No.
of shares |
|
Mr.
Hiranandani Manik Uttamchand |
|
85,000 |
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Mr. Sujan Deepak Jiwatram |
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15,000 |
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|
––––––– |
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Total: |
100,000 ====== |
(As per registry dated 12-01-2013)
|
Name (Nationality) |
Address |
|
Mr. Sujan Deepak
Jiwatram |
11/F., Flat A, Ho On Mansion, 107-109 Austin
Road, Kowloon, Hong Kong. |
|
Mr.
Hiranandani Manik Uttamchand |
11/F., Flat A, Ho On Mansion, 107-109
Austin Road, Kowloon, Hong Kong. |
(As per registry dated 12-01-2013)
|
Name |
Address |
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Mr.
Charanjit S GREWAL |
Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong. |
The
subject was incorporated on 12th January, 1988 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: Canned food, Kitchen Appliances, Electric Products, Milk, Personal Care Electric Appliances, Electronic Products, Toys, General Household Goods, Sundry Items.
Employees: 7.
Commodities Imported: China, other Asian countries, etc.
Markets: Asian countries, Africa, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$1,000,000.00 (Divided into 100,000 shares of HK$10.00 each)
Issued Share Capital: HK$10,000,000.00
Alternation of Issued Capital:-
|
12-01-1988 |
paid up |
HK$ 20.00 |
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12-09-1988 |
paid up |
HK$ 999,980.00 |
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|
––––––––––––––– |
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Total: |
paid up |
HK$1,000,000.00 ============= |
Mortgage or Charge: (See attachment)
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:-
China Construction Bank (Asia) Corporation, Hong Kong.
Citibank, N.A., Hong Kong.
Bank of America (Asia) Ltd., Hong Kong.
Standing: Good.
Having
issued 100,000 ordinary shares of HK$10.00 each, Ltd. is jointly owned by Mr.
Hiranandani Manik Uttamchand, holding 85%; and Mr. Sujan Deepak Jiwatram,
holding 15%, both of whom are Indian.
They are Hong Kong ID Card holders and have got the right to reside
in Hong Kong permanently. They are also
directors of the subject.
Incorporated
in January 1988, the subject is a trading company carrying varieties of
commodities.
Your
given phone and fax number are not correct.
According
to the subject, its is trading in the following commodities:
Canned
food, Foodstuffs, Agricultural Products, Beverages, Kitchen Appliances,
Electric Products, Milk, Personal Care Electric Appliances, Electronic
Products, Toys, General Household Goods, Bags, Travelling Goods, Garments,
Textile Products, Interior Decoration Products, Sundry Items, etc.
Most
of the commodities are sourced from China and the other Asian countries. Prime markets are Asian countries, the Middle
East, some of the African countries.
According
to the subject, it is an international buyer based in Hong Kong. Commodities are exported to worldwide
countries. Business has been active as
regular suppliers and customers have been maintained.
The
subject operates form a self-owned office in Hong Kong. History is about 25 years.
On
the whole, in view of the history and background of the subject, consider it
good for normal business engagements.
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
04-08-2003 |
Instrument: Charge
Over Account Property: Pursuant to
Clause 3 (Charge) of the Charge, for good and valuable consideration, receipt
of which is acknowledged, the Chargor as sole beneficial owner and as security
for the payment of all Secured Liabilities charges the Credit Balance to the
Bank, by way of first fixed charge.
The charge created under Clause 3 shall be construed as a separate
charge over the credit balance of each charged account from time to time,
including all interest accruing from time to time in respect of it. For the avoidance of doubt, the validity or
enforceability of a charge created under Clause 3 shall not effect the
validity or enforceability of any of the other charges and if a charge
created under Clause 3 is to be construed as a floating charge, that will not
effect the nature of any of the other charges Mortgagee: Bank
of America (Asia) Ltd., Hong Kong.
[Now known as China Construction Bank (Asia) Corporation Ltd.] |
All present and future obligations and liabilities |
|
20-11-2006 |
Instrument: Deposit
Deed Property: By way of a
first fixed charge and as a continuing security for the obligations, the
company charges all the company’s right, title to the interest in all the company’s
account maintained with any branch of Citibank N.A. and Citibank Hong Kong
Ltd and all credit balance from time to time in such accounts Mortgagee: Citibank
N.A., Hong Kong Branch. |
All moneys now or at any time in the future owing by the company to
the Bank |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.33 |
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|
1 |
Rs.100.79 |
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Euro |
1 |
Rs.84.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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.