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Report Date : |
29.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SINO TRADE COMPANY |
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Registered Office : |
10/F., |
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Country : |
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Date of Incorporation : |
22.04.1997 |
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Com. Reg. No.: |
20880357-000-04 |
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Legal Form : |
Sole Proprietorship Concern |
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Line of Business : |
Importer, exporter and wholesaler of PC luggage |
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No. of Employees : |
02 |
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 : |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
Source
: CIA
SINO TRADE
COMPANY
ADDRESS: 10/F., Fook Shing Court, 50 Wyndham Street, Central, Hong Kong.
PHONE: 852-2905 1132, 2905 1142
FAX: 852-2905 1131, 25213261
E-MAIL: info@sino-trade.net
sinotrade@netvigator.com
gulshan@netvigator.com
Manager: Mr. Deap Kumar Adukia
Establishment: 22nd April, 1997.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: 2 (Including affiliate)
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
10/F., Fook Shing Court, 50 Wyndham Street, Central, Hong Kong.
Associated/Affiliated Companies:-
Sino Trade Co., Hong
Kong. (Same address)
[Bearing BR No. 37551719-000-18]
Vikudha Overseas Corporation Ltd., Hong Kong.
C.I. Vikudha Andina S.A.S., Colombia.
Consumer Marketing (India) Pvt. Ltd., India.
Nova Petroleum Specialties Co. LLC, USA.
Sinoasia Minerals Sdn. Bhd., Malaysia.
Vikudha (Malaysia) Sdn Bhd, Malaysia.
Vikudha (Thailand) Co. Ltd., Thailand.
Vikudha (Tianjin) Corporation Ltd., China.
Vikudha Brasil, Brasil.
Vikudha Centroamérica & Caribe S.A., Guatemala.
Vikudha Ltd., Hong Kong.
Vikudha Singapore Pte. Ltd., Singapore.
Vikudha Sur América S.A.C., Peru.
Vikudha Türkiye İrtibat Bürosu, Turkey.
VOC Central America S.A., Costa Rica.
20880357-000-04
Manager: Mr. Deap Kumar Adukia
Contact Person: Mr. Sheik Noorul Ameen
Name: Mr. Deap Kumar ADUKIA
Residential Address: Flat
E, 24/F., 80 Caine Road, Hong Kong.
Name: Gulshan Moti Chhugani
Residential Address: 3/F.,
Euston Court, Tower 1, 6 Park Road, Mid-Levels, Hong Kong.
The subject was established on 22nd April, 1997 as a sole proprietorship concern owned by Mr. Deap Kumar Adukia under the Hong Kong Business Registration Regulations.
It became a partnership as Gulshan Moti Chhugani joined in on 24th February, 2005.
At the very beginning, the subject was located at 13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong, moved to Room 11, 18/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong in August 2002 and further to the present address in February 2005.
Apart from these, neither material change nor amendment has
been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: PC Luggage
Employees: 2 (Including affiliate)
Commodities Imported: China, other Asian countries, etc.
Markets: Southeast Asia, Europe, North America, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Capital: Not disclosed.
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: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Small.
Sino Trade Company is a partnership jointly owned by Gulshan Moti Chhugani and Deap Kumar Adukia, both of whom are Indian. They are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.
The subject is chiefly trading in Duffel Bag Sets, PC Luggage.
Sino Trade Company is a privately owned Hong Kong registered Group involved in the OEM Manufacturing, Buying office & Trading business with prime focus on China Trade.
The subject’s head office is in Hong Kong with branch offices in China and India. The subject now has had trading activities in Western & Eastern Europe, the United States, Latin America, India, Thailand, Northern and South Africa, etc.
The subject’s businesses are China Trading in the fields of Toiletries, Porcelain ware, Luggage Sets, Travel Bags, Handbags, PC Accessories, Pet Items, Infant items, Stainless Steel Household items, Tools, Power tools, Candles, Sundries, etc.
The subject also receives OEM orders. It is also a buying office.
The subject has had an affiliated company located at the same address also known as Sino Trade Co. but bearing a different business registration number.
Besides operating the subject, Deap Kumar Adukia is also the operator of another firm Vikudha Overseas Corporation Ltd. [Vikudha] located at a different address.
Having issued 40 million ordinary shares of HK$1.00 each, Vikudha is equally owned by Mr. Vikash Adukia and Mr. Deap Kumar Adukia. Being Indian merchants, they are also directors of Vikudha.
Vikudha is a member of the Vikudha Group which has been in business since 1973.
Currently, Vikudha is trading in the following commodities and offering clients with the following services:-
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Pharmaceutical and Medicine |
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- Pharmaceutical Preparation |
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Chemicals (including Plastic Materials) |
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- Plastic Materials (including Resins, polymers and Sheet) |
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- Industrial Chemicals |
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Minerals |
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Edible Oils |
The subject’s business is chiefly handled by Gulshan Moti Chhugani and Mr. Sheik Noorul Ameen.
As the history of the subject is over 16 years in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.50 |
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|
1 |
Rs.99.49 |
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Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
-- |
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.