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Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
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Name : |
COSMOSS VU LTD. |
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Registered Office : |
Unit A, 7/F., Success Commercial Building, 245-251 Hennessy Road,
Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.08.2005 |
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Com. Reg. No.: |
35938274 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Chemicals, sports goods, toys and
gamers, stationery and office equipment, etc. |
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No. of Employees : |
6. (Including subsidiary) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
COSMOSS VU
LTD.
Unit A, 7/F., Success Commercial Building, 245-251 Hennessy Road,
Wanchai, Hong Kong.
PHONE: 3741 0357, 3741 0358
FAX: 3741 0356
E-MAIL: subbu@cosmossvu.com.hk
Managing Director: Mr.
Subramanyan Balkrishnan
Incorporated on: 18th August, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$2,500,000.00
Issued: HK$2,500,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6. (Including subsidiary)
Main Dealing Banker: Industrial
& Commercial Bank of China (Asia) Ltd., Hong Kong.
Banking Relation: Satisfactory.
COSMOSS VU LTD.
Registered Head
Office:-
Unit A, 7/F., Success Commercial Building, 245-251 Hennessy Road,
Wanchai, Hong Kong.
Subsidiaries/Business Names:
(Same address)
Central Avenue Traders, Hong Kong.
Sheetal Enterprises, Hong Kong.
Vision United Traders, Hong Kong.
35938274
0990436
Managing Director: Mr.
Subramanyan Balkrishnan
Nominal Share Capital: HK$2,500,000.00 (Divided into 2,500,000 shares of
HK$1.00 each)
Issued Share Capital: HK$2,500,000.00
(As per registry dated 18-08-2012)
|
Name |
|
No. of shares |
|
Balkrishnan SUBRAMANYAN |
|
2,500,000 ======= |
(As per registry dated 18-08-2012)
|
Name (Nationality) |
Address |
|
Balkrishnan SUBRAMANYAN |
11/F., Block 38, Baguio Villa, 555 Victoria Road, Hong Kong. |
(As per registry dated 09-11-2012)
|
Name |
Address |
|
Vaidyanathan Sundaresan |
Unit 1, 4/F., Wing Hing Mansion, 66-76 Granville Road, Tsimshatsui,
Kowloon, Hong Kong. |
The subject was incorporated on 18th August, 2005 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: Chemicals, sports goods, toys and gamers,
stationery and office equipment, etc.
Employees: 6.
(Including subsidiary)
Commodities Imported: India,
China and other Asian countries, etc.
Markets: Asian countries, Europe, Africa,
etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$2,500,000.00
(Divided into 2,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,500,000.00
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.
Banker: Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
Standing: Normal.
Having issued 2.5 million ordinary shares of HK$1.00 each and
incorporated in August 2005, Cosmoss Vu Ltd. is wholly owned by Mr. Balkrishnan
Subramanyan. Subramanyan is the only
director of the subject. He is a
Hong Kong ID Card holder and has got the right to reside in Hong Kong
permanently.
Subramanyan can be reached at his mobile phone number 9809 5476.
The subject has had the following three business names:-
·
Central Avenue Traders;
·
Sheetal Enterprises; &
·
Vision United Traders.
These business names may be regarded as subsidiaries of the
subject. They are located at the same
address.
The subject has emerged as a one stop resource provider for import
requirements from China and the Asia Pacific region. It works closely with its clients and vendors
as partners. Its prime markets are
Nigeria, Ghana, Cotonou, South Africa, Equatorial Guinea, France, Germany, the
United Kingdom, the United Arab Emirates, Oman, Qatar, Yemen and India.
The subject has had a technical team stationing in China for monitoring,
supervising and controlling its shipments.
According to the subject, it is known as one of the reliable exporters
of quality products from China.
The range of its product includes Chemicals Products, Floor Standing Air
Conditioners, Split Air Conditioners and Windows Air Conditioners. These products are sourced from reliable
manufacturers.
The subject is specialised in chemicals trading. It is mainly dealing in the following
chemicals: acrylic acid, camphor, butyl acrylate, caustic soda, sodium
hydrosulphite, hydrogen peroxide, potassium hydroxide, titanium dioxide, soda
ash, sodium nitrite, sodium formate, boric acid, glycerin, indigo chemical,
food additives (MSG, citric acid), fine chemicals, dyes and pigments, etc. Most of the chemicals are imported from
China, Europe and India.
The subject also trades in other products such as sports goods, toys and
games, household products (non-electric), stationery and office equipment, etc.
The subject had had a premises which is located at the Unit A-1, 11/F.
of the same building. The premises have
been mortgaged to Industrial & Commercial Bank of China (Asia) Ltd.,
Hong Kong, for a consideration of HK$1.7 million.
As the history of the subject is over seven years in Hong Kong, on
the whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
10-06-2011 |
Instrument: Memorandum Property: Distinctive 91210300004724 07-04-2011 US$140,400.12 07-07-2011 91210300004725 07-04-2011 US$
15,535.89 07-07-2011 91210300004748 14-04-2011 US$
11,841.97 14-07-2011 91210300004789 03-05-2011 US$
26,271.63 03-08-2011 91210300004827 16-05-2011 US$
65,030.22 16-08-2011 91210300004991 10-06-2011 US$129,000.00 12-12-2011 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loan or credit or other facilities. |
|
31-10-2011 |
Instrument: Security Agreement Over Bank Account Property: By way of a first fixed charge all of the Chargor’s rights in respect
of any amount standing to the Credit of the Account from time to time &
the debt represented by it Mortgagee: Shanghai Commercial Bank Ltd.,
Hong Kong. |
To secure the payment & satisfaction of all present and future
obligations & liabilities |
|
31-10-2011 |
Instrument: Security Agreement Over Securities Property: (1) By way of first fixed
charge a) All Specified Securities b) All Specified Securities c) All Related Rights of a capital nature d) All Related Rights of an income nature e) Where Specified Securities are held in a Relevant System (2) By way of assignment,
all the Chargor’s rights, title and interest, present and future, in and to
any Specified Securities and any Related Rights Mortgagee: Shanghai Commercial Bank Ltd.,
Hong Kong. |
To secure the payment & satisfaction of all present & future
obligations & liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.64 |
|
UK Pound |
1 |
Rs.87.45 |
|
Euro |
1 |
Rs.72.65 |
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.