MIRA
INFORM REPORT
|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
COSMOSS VU LIMITED |
|
|
|
|
Registered Office : |
Unit A, 7th Floor, Success Commercial Bldg., |
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Country : |
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Date of Incorporation : |
18.08.2005 |
|
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Com. Reg. No.: |
990436 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of electric products, chemicals and food |
|
|
|
|
No of Employees : |
About 10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 has no tariffs on imported goods, and it levies excise
duties on only four commodities, whether imported or produced locally: 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, its continued reliance
on foreign trade and investment leaves it vulnerable to renewed global
financial market volatility or a slowdown in the global economy. 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 12% of total system
deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have
caused Hong Kong property prices to rise rapidly; consumer prices increased by
more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Contact Points
|
Company Name: |
COSMOSS VU
LIMITED |
|
Supplied Name: |
Cosmoss VU Limited |
|
Trading Address: |
Unit A, 7th Floor, Success Commercial Bldg.,
245-251 Hennessy Road, Wanchai, Hong Kong |
|
Supplied Address: |
Unit -A 7th floor Success Commercial Bldg 245-251 Hennessy Road
Wanchai Hong Kong |
Note: The exact name and
address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit A, 7th Floor, Success Commercial
Bldg., 245-251 Hennessy Road, Wanchai, Hong Kong |
|
Telephone Number: |
+852-3741-0357 |
|
Fax Number: |
+852-3741-0356 |
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E-mail: |
|
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Date of Registration: |
2005-8-18 |
|
Registered Number: |
990436 |
|
Business Registration No.: |
35938274 |
|
Paid-up Capital: |
HKD 5,000,000 (USD 645,000) = 5,000,000 Shares@ HKD 1 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
69545--Household tools, n.e.s. (No.) |
|
Principal Activities: |
Trading of electric products, chemicals and food |
|
Staff: |
About 10 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-8-18 |
History
Subject was incorporated on 2005-8-18 with the registered number 990436
as Private Limited Liability Company in Hong Kong.
Corporate Structure
Subject did not introduce whether it has any subsidiaries or branches;
from other source we could not obtain the relevant information, either.
Shareholder
|
Subscription
Shares |
Proportion of
Investment (%) |
|
|
Subramanyan Balkrishnan |
5,000,000 |
100% |
|
Total |
5,000,000 |
100% |
Major Shareholder
Information:
|
Name: |
|
|
Address: |
Blk 38, 11/F., Baguio Villa, 555 Victoria Road, Hong Kong |
Management Information
Core Management
Detailed
Information of Directors:
|
Name: |
Subramanyan Balkrishnan |
|
Address: |
Blk 38, 11/F., Baguio Villa, 555 Victoria Road, Hong Kong |
|
Position: |
Director & Secretary |
|
ID Number: |
P537358(5) |
Personnel
Structure
|
Total Employees |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit A, 7th Floor, Success Commercial Bldg., 245-251 Hennessy Road,
Wanchai, Hong Kong |
Premises
Information
Office address:
|
Address: |
Unit A (Including A/C Plant Room Thereof) on The 7th Floor Success
Commercial Building Nos. 245-251 Hennessy Road H.K. |
|
Owners: |
Star Origin Limited |
|
Memorial Number: |
10122801900052 Assignment |
|
Date of Instrument: |
2010-11-30 |
|
Date of Registration: |
2010-12-28 |
|
Consideration Value: |
HKD 5,720,000.00 |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
10122801900061 |
|
Date of Instrument: |
2010-11-30 |
|
Date of Registration: |
2010-12-28 |
|
Nature: |
Mortgage |
|
In Favor of: |
Industrial and Commercial Bank of China (Asia) Limited |
|
Consideration: |
All Moneys |
|
2 |
|
|
Memorial No.: |
10091701400013 |
|
Date of Instrument: |
2010-9-13 |
|
Date of Registration: |
2010-9-17 |
|
Nature: |
Agreement for sale and purchase Remarks: See assignment mem. no. 10122801900052 |
|
In Favor of: |
Star Origin Limited |
|
Consideration: |
HKD 5,720,000.00 |
|
3 |
|
|
Memorial No.: |
09052100320019 |
|
Date of Instrument: |
2009-5-13 |
|
Date of Registration: |
2009-5-21 |
|
Nature: |
Agreement for sale and purchase Remarks: See assignment mem. no. 10012101440046 |
|
In Favor of: |
Info (HK) Limited |
|
Consideration: |
HKD 3,600,000.00 |
Production
Information
·
Subject is a trader of electric products, chemicals
and food without any production activities.
Purchase
Information
·
Subject purchases products both home and abroad
such as Mainland China and Southeast Asia, etc.
Sales Information
·
Subject is engaged in sale of electric products,
chemicals and food.
·
Subject’s major electric products include air
conditioner, chest freezer, chest freezer, showcase freezer, vertical freezer
and upright bottle cooler.
·
The chemicals sold by subject include caprolactam,
acetonitrile, acrylamide, acrylic acid, ammonium bicarbonate, ammonium
carbonate, boric acid, butyl acrylate, calcium carbide and camphor.
·
Subject’s sales regions include Asia, Europe and
America, etc.
·
One of subject’s major customers is G.J.Chemical
Co. Inc., etc.
Settlements
Purchase
1. Domestic
Purchase
|
Products |
Electric products, chemicals and food |
|
Payment Terms |
Cash, T/T, etc |
2. Import
|
Products |
Electric products, chemicals and food |
|
Payment Terms |
Sales
1.Domestic Markets
|
Product |
Electric products, chemicals and food |
|
Selling Terms |
Cash, T/T, etc |
2. Export
|
Product |
Electric products, chemicals and food |
|
Selling Terms |
T/T, etc |
Financial Information
The subject has no obligation to supply its financial
statement to the third party according to the relevant policy in Hong Kong and
the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff rejected to disclose the financial information;
from other sources we could not obtain such information, either.
Bankers
|
1 |
|
|
Name: |
Standard Chartered Bank (Hong Kong) Limited |
|
2 |
|
|
Name: |
Industrial and Commercial Bank of China (Asia) Limited |
Public
Mortgage Record
|
1 |
|||
|
Company Name: |
Cosmoss VU Limited |
||
|
Instrument of Creating Mortgage: |
Mortgage |
||
|
Date of Creating Mortgage: |
2013-1-17 |
||
|
Amount Secured: |
To secure “all moneys” in respect of general banking facilities and
interest thereon |
||
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Name of Mortgagee: |
Industrial and Commercial Bank of China (Asia) Limited |
||
|
Address of Mortgagee: |
33/F., ICBC Tower, No.3 Garden Road, Central, Hong Kong |
||
|
Description of Property Mortgaged: |
51/935,384 parts or shares of and in Tsing Yi Town Lot No.132 (Flat A
on the 51th Floor of Tower 10 of Tierra Verda) |
||
|
2 |
|||
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Company Name: |
Cosmoss VU Limited |
||
|
Instrument of Creating Mortgage: |
Memorandum |
||
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Date of Creating Mortgage: |
2011-6-10 |
||
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Amount Secured: |
(Loan or credit or other facilities) available to Cosmoss VU Limited |
||
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Name of Mortgagee: |
Bank of Baroda (“BOB”) |
||
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Address of Mortgagee: |
4/F., Dina House, Ruttonjee Centre, 11 Duddell Street, Central, Hong
Kong |
||
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Description of Property Mortgaged: |
|||
|
Distinctive No. of Receipts |
Date of Issue |
Amount (USD) |
Due Date |
|
91210300004724 |
2011-4-7 |
140,400.12 |
2011-7-7 |
|
91210300004725 |
2011-4-7 |
15,535.89 |
2011-7-7 |
|
91210300004748 |
2011-4-14 |
11,841.97 |
2011-7-14 |
|
91210300004749 |
2011-5-3 |
26,271.63 |
2011-8-3 |
|
91210300004827 |
2011-5-16 |
65,030.22 |
2011-8-16 |
|
91210300004991 |
2011-6-10 |
129,000.00 |
2011-12-12 |
Lawsuits
Up to now, no present or latent litigation of the subject has been
found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Department: |
Sales Department |
Industry Information
69545--Household tools, n.e.s. (no.)
Unit:
HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Germany |
2,296 |
112 |
55,444 |
1,706 |
|
France |
3,005 |
84 |
3,181 |
101 |
|
217 |
18 |
304 |
26 |
|
|
Italy |
2,574 |
112 |
20,833 |
607 |
|
Japan |
5,135 |
342 |
113,887 |
919 |
|
Korea |
1,920 |
15 |
35,340 |
137 |
|
Canada |
2,712 |
99 |
3,288 |
123 |
|
Switzerland |
152 |
19 |
906 |
383 |
|
Singapore |
2,538 |
69 |
3,764 |
87 |
|
USA |
1,853 |
242 |
77,234 |
1,509 |
|
The Mainland of
China |
4,256,817 |
43,536 |
17,967,973 |
215,962 |
|
Exports |
||||
|
United Arab
Emirates |
47,314 |
590 |
366,629 |
4,544 |
|
Argentina |
13,164 |
235 |
94,980 |
925 |
|
16,036 |
290 |
57,866 |
1,196 |
|
|
Australia |
194,290 |
2,563 |
849,239 |
11,243 |
|
Belgium |
117,855 |
1,760 |
613,753 |
11,811 |
|
Brazil |
10,440 |
71 |
28,548 |
361 |
|
Canada |
207,308 |
3,229 |
1,420,048 |
20,503 |
|
Switzerland |
110,032 |
2,369 |
323,565 |
7,846 |
|
Chile |
46,848 |
817 |
315,914 |
3,511 |
|
Britain |
688,738 |
8,677 |
1,997,187 |
27,730 |
|
Japan |
212,807 |
2,044 |
981,847 |
13,617 |
|
The Mainland of
China |
86,894 |
891 |
468,829 |
4,286 |
External
Trade Information:
External
Merchandise Trade Aggregate Figures
Unit:
HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year %
change of Total exports |
Merchandise
trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures
have been rounded to the nearest final digit after summing up the constituent
trade figures.
Attachment
Success Commercial Bldg., 245-251 Hennessy Road, Wanchai, Hong Kong
Success Commercial Bldg., 245-251 Hennessy Road, Wanchai, Hong Kong
7th Floor, Success Commercial Bldg., 245-251 Hennessy Road, Wanchai,
Hong Kong
Unit A, 7th Floor, Success Commercial Bldg., 245-251 Hennessy Road,
Wanchai, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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.