|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ROOFERS GROUP (HK) LTD |
|
|
|
|
Registered Office : |
C/o Trend Management & Technology Consultants Room A, 15/F., Dao Hing Building, 32-34 Jordan Road, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
16.09.2011 |
|
|
|
|
Com. Reg. No.: |
59003031 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Agricultural Products, cement, building materials, etc. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office in Hong Kong |
|
Payment Behaviour : |
Unknown |
|
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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
ROOFERS GROUP
(HK) LTD
Address: c/o Trend
Management & Technology Consultants
Room A,
15/F., Dao Hing Building,
32-34
Jordan Road, Kowloon,
Hong Kong.
(Your enquiry given addrress at:
UNIT 2002, 20 FLOOR
10 METRO POLIS DRIVE
THE METROPOLIS TOWERHUNG HOM)
PHONE: 3625 5247
FAX: 2873 5210
Managing Director: Mr. Robin
Kumar Saha
Incorporated on: 16th
September, 2011.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$500,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Trend Management & Technology Consultants
Room A, 15/F., Dao Hing Building, 32-34 Jordan Road, Kowloon, Hong Kong.
Associated Companies:-
Maa Mansa Developers Pvt., India.
Roffers Intra-Projects Ltd., India.
Roofers Agro Products Ltd., India.
Roofers Capital Management Ltd., India.
Roofers Cement Ltd., India.
Roofers Hotels Ltd., India.
Roofers Infrastructure India Pvt. Ltd., India.
Roofers Marketing Ltd., India.
Roofers Media Pvt. Ltd., India.
Roofers Realty Ltd., India.
Roofers Shilpa Udyog Ltd., India.
Roofers Tourism Ltd., India.
1665170
Managing Director: Mr. Robin
Kumar Saha
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of
HK$ 1.00each)
Issued Share Capital: HK$500,000.00
(As per registry dated 16-09-2011)
|
Name |
|
No. of shares |
|
Hirak Nath SOUNTH |
|
485,000 |
|
Robin Kumar SAHA |
|
15,000 |
|
|
|
––––––– |
|
|
Total: |
500,000 ====== |
(As per registry dated 16-09-2011)
|
Name (Nationality) |
Address |
|
Hirak Nath SOUNTH |
Koushallya Ganapati Bose Lane, PO/PS - Kharagpur, Paschim Medinipur,
West Bengal - 721 301, India. |
|
Robin Kumar SAHA |
91/D, Sambhu Babu Lane, Kolkata, 14, West Bengal, India. |
(As per registry dated 16-09-2011)
|
Name |
Address |
Co. No. |
|
Trend Management & Technology Consultants |
Room A, 15/F., Dao Hing Building, 32‑34 Jordan Road,
Kowloon, Hong Kong. |
- |
The subject was incorporated on 16th September, 2011 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: Agricultural Products,
cement, building materials, etc.
Employees: Nil.
Commodities Imported: India, other Asian countries, etc.
Markets: India, other Asian countries,
Europe, etc.
Terms/Sales:
As per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares
of HK$ 1.00each)
Issued Share Capital: HK$500,000.00
Profit or Loss: Too early to
offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general
banking facilities.
Payment: Unknown .
Commercial Morality: Satisfactory
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
Having issued 500,000 ordinary shares of HK$1.00 each, Roofers Group
(HK) Ltd. is jointly owned by Mr. Hirak Nath Sounth, holding 97% interests; Mr.
Robin Kumar Saha, holding 3%; both are Indian.
They are India passport holders and do not have the right to reside in
Hong Kong permanently. They are also
directors of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room A, 15/F., Dao Hing Building, 32‑34 Jordan
Road, Kowloon, Hong Kong” known as “Trend Management & Technology
Consultants” which is handling its correspondences and documents. This firm is also the corporate secretary of
the subject.
The subject has no employees in Hong Kong. It belongs to the Roofers Group which is a
significant Group of companies in India.
Set up by Hirak Nath Sounth, the Group is engaged in diversified
economy.
At Present, the group of companies are operating in various sectors like
Project Contracting, Real Estate Developing, Resorts and Hotels.
Sounth has set up a Composite Agricultural Farm at Kharagpur, besides
executing Engineering Projects in India.
With a view to contribute to West Bengal Government’s plan to develop
tourism industry in the State, Sounth has developed and constructed a cluster
of resorts at Mandarmoni of India.
The followings are the highlights of the Group:-
1.
Roofers being a vibrant industrial group, working
mainly in the state of West Bengal for the last 16 years in the field of
Construction, Real Estate, Hotels, Tourism and infrastructure, is coming up at
a colossal pace in the Industrial map of West Bengal.
2.
Group started its business in 1996 as a
construction company “Diamond Construction”.
3.
The Group has constructed several Housing Complexes
for Navy and general people, in different places of West Bengal.
4.
Today its diversifying activities cover the area of
Capital Management, Agro Products, Hotel, Tourism & Infrastructure.
5.
Company has assets worth Rs. 250 Crore.
6.
Directly or Indirectly, Roofers Group provides
employment for nearly 35,000 persons in India.
The future plans of the Group include its innovation in the fields of
Health and Education apart from development of the existing works up to the
fullest extent. Roofers will turn up
into a Business conglomerate with branches and sub-offices spread over through
out India where multi-crore operations will take place. In terms of Government Policies, Roofers will
generate huge job opportunities also for the educated unemployed youth in its
society. The followings are some of its
development plans:-
1.
Roofers is coming up with three Resorts in
collaboration with ITC Heritage Group (Gorumara & Chalsa in North Bengal
and one in Mandarmani) – Gorumara & Chalsa will be ready by mid of 2013.
2.
Roofers will come out with a Hotel in Puri which
will be launched in December 2012.
3.
One more Star Category Hotel in progress at Digha.
4.
Hotel in Tarapith will be operational by January
2013.
5.
Hotel in Port Blair in Andaman is in progress.
6.
Hotels in Darjeeling will be operational shortly.
7.
A 5 star rated club is in the pipline at Raichak.
8.
A giant Housing Project in Diamond Harbour Road on
a plot of 500 Bigha.
9.
Roofers Media Pvt. Ltd. has already operative in
Agartala, which is first satellite channel in India.
10.
Housing project at Sonarpur and Rajpur. Housing
Project at Dhanbad will start soon.
11.
C&F Agency of Parag Wines will start its
operation with 350 outlets at present & the number of outlets will
increase.
12.
A club with all required facilities in
collaboration with renowned ITC Heritage Group will be coming up shortly.
13.
Roofers Steel.
14.
Roofers Hospitals
15.
Roofers Educational Institute
Hirak Nath Sounth is the Chairman & Managing Director of the Group.
The subject is fully supported by the Group. However, its business in Hong Kong is
not active. History in Hong Kong is over
a year and five months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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 |
|
<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.