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Report Date : |
15.07.2014 |
IDENTIFICATION DETAILS
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Name : |
GLINTS GLOBAL LTD. |
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Registered Office : |
Room 1234, 12/F., Star House, |
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Country : |
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Date of Incorporation : |
23.12.2009 |
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Com. Reg. No.: |
51674163 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Metals, minerals,
iron & steel |
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No. of Employees |
06 |
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 : |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
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Source
: CIA |
(Formerly located
at:-
Room 802, 8/F., Star House,
GLINTS GLOBAL
LTD.
ADDRESS: Room
1234, 12/F., Star House,
PHONE: 852-2369 9954, 2367 7704
FAX: 852-2369 9964, 2367 7705
E-MAIL: rahuljain0090@gmail.com
HK@glintsglobal.com
Managing Director: Mr. Manoj Kumar Garg
Incorporated on: 23rd December, 2009.
Organization: Private Limited Company.
Capital: Nominal:HK$70,000,000.00
Issued: HK$60,606,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 6. (Including associates)
Main Dealing Banker: Bank
of
Banking Relation: Satisfactory.
Registered Office:-
Room 1234, 12/F., Star House,
Associated
Companies:-
Glints Global General Trading LLC, UAE.
Glints Global Ventures Ltd.,
Glints Global Pte. Ltd.,
MG Overseas Ltd., Hong Kong. [Deregistration] (Same address)
51674163
1404537
Managing Director: Mr. Manoj Kumar Garg
Nominal Share Capital: HK$70,000,000.00 (Divided into 70,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$60,606,000.00
SHAREHOLDER: (As per registry dated 23-12-2013)
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Name |
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No. of shares |
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Manoj Kumar GARG |
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60,606,000 ======== |
DIRECTOR: (As per registry dated 23-12-2013)
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Name (Nationality) |
Address |
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Manoj Kumar GARG |
F41 Milap Nagar, Uttam Nagar |
SECRETARY: (As per registry dated 17-03-2014)
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Name |
Address |
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Yesing Nominees Ltd. |
Unit A, 5/F., |
0606203 |
The subject was incorporated on 23rd December, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Ford
Formerly the subject was located at Room 802, 8/F., Star
House,
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Metals, minerals, iron & steel, etc.
Employees: 6. (Including associates)
Commodities Imported:
Markets: The Middle East,
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$70,000,000.00 (Divided into 70,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$60,606,000.00
Mortgage or Charge (Since 2012): (See attachment)
Profit or Loss: Made a small profit in 2013.
Condition: Business is improving.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
Union Bank of
Bank of
Macquarie Bank Ltd.,
Bank of
Standing:
Having issued 40,865,751 ordinary shares of HK$1.00 each,
Glints Global Ltd. formerly was jointly owned by Mr. Manoj Kumar Garg, holding
86.1% interests; Mr. Rahul Jain, holding 13.9%. On 27th February, 2012, the latter
transferred all his shares to the former.
Now, the subject is wholly-owned by Mr. Manoj Kumar Garg. He is also the only Director of the
subject. He is an
In March 2013, the subject increased its issued share capital to HK$60,606,000.00.
The subject belongs to Glints Global Group. It is trading in the Group’s commodities.
Glints Global Group, headquartered in
The Group’s customers around the world are active in a wide range of industries, such as manufacturing, power generation, steel production and food processing. They rely upon the Group’s established global network for the supply of metals and minerals, energy and agricultural products.
The Group trades in ferrous as well as non-ferrous metals
worldwide. It supplies raw materials
used in the production process to steel producers in
The Group is trading in the following commodities:-
Bauxite/Alumina:
Description:-Bauxite, alumina, aluminum fluoride;
Coal/Petcoke:
Description:-Steam coal, metallurgical coal, petcoke, calcinated petcoke,
coke, anthracite, charcoal;
Cement/Aggregates:
Description:-Cement, cement clinker, cement in bags, aggregates, gravel,
limestone, dolomite, gypsum, clay, cobbles, cobble stones, quicklime, sand,
garnet sand, granite, grit;
Coal/Petcoke:
Description:-Steam coal, metallurgical coal, petcoke, calcinated petcoke,
coke, anthracite, charcoal;
Concentrates/Minerals:
Description:-Copper concentrate, lead concentrate, zinc concentrate,
bentonite, borates, talc, sodium in bags, ilmenite, magnetite, charge chrome,
deadburn manganese, ferro chrome, ferro manganese, ferro silicon, manganese
ore, silicon manganese, rutile, silicon carbide, silica sand, slag, copper
slag, spodumine, ferro alloys, kaolin, mill scale, perlyte, uloxite,
vermiculite, zircon, barytes, lead dross;
Fertilizers:
Description:-Fertilizers, DAP, MAP, TSP, potash, sulphur, ammonium nitrate,
phosrock, phosphate, sulphate, soda ash, urea;
Grain/Agriprods:
Description: Soyabeans, Soyabean meal, soyabean pellets, heavy grains soja
& sorghum (HSS), wheat, rye, barley, malt barley, corn, bulk sugar, sugar
in bags, canola, maize, oats, peas, rice in bulk, rice in bags, sunflower
seeds, tapioca, fishmeal, cotton in bales, cottonseed, lupins, oil cakes,
rapeseed, sorghum, other grains and agricultural products;
Description:-Iron ore, iron ore pellets, iron ore fines, chrome ore, pig
iron, chromium, chrome fines, manganese ore;
Pipes/Windmills:
Description:-Windmill towers, windmill blades, pipes, construction
material, tanks, project cargo. etc.
Steel/Aluminum:
Description:-Hot rolled coils / plates / sheets, wire rods in coils,
billets, slabs, rebars, beams, plates, profiles, rails, blooms, cold rolled
coils, debars, round bars, gratings, hollow sections, galvanised steel,
stainless steel, tin plates, aluminium ingots / bars / wire, zinc ingots, lead
ingots, copper wire / anodes / cathodes / blister. etc.
Scrap :
Description:-Scrap, shredded scrap.
Glints Global Group also provides financing, logistics and other value-added services to producers and consumers worldwide.
The Group is offering clients with following business scope:-
Materials or Products Sourcing;
Logistics Services;
Warehousing; &
Product Delivery.
Glints Global Group is a leading trader and exporter of ferrous as well as non‑ferrous materials worldwide. Over the years Glints Global Group has evolved from an organization solely trading commodities to build a diversified portfolio of businesses spanning the entire value chain of logistical efficiencies, upstream as well as downstream, i.e. from sourcing to distribution.
The Group’s customer base is very broad and diverse in terms
of geography ranging from
According to the Group, its head office is in
The subject’s another associated company Glints Global Pte.
Ltd. [Singapore Glints] is in
According to the Group, it aims to be a US$1 billion revenue company by the year of 2015.
The subject’s business is improving. History in
On the whole, consider the subject good for normal business engagements in small credit amounts.
(Since 2012)
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Date |
Particulars |
Amount |
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17-01-2012 |
Instrument: Charge on Deposit Property: A sum of US$900,000.00 currently represented or evidenced by a certificate of deposit dated 13-01-2012 bearing number 000013010000768 Mortgagee: Union Bank of |
All moneys |
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09-02-2012 |
Instrument: Charge on Deposit Property: A sum of US$900,000.00 currently represented or evidenced by a certificate of deposit dated 01-02-2012 and 08-02-2012 bearing number 000013010000778 and 0000130100781 Mortgagee: Union Bank of |
All moneys |
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19-07-2012 |
Instrument: Floating Charge Property: (A) By way of first floating charge, all of its (B) Security Assets (C) Financed Goods stocks in trade owned by the chargor, and (D) Financed receivable all present and future book debts and monetary claims due or owing to, the chargor Mortgagee: Union Bank of |
All monies in respect of banking facilities |
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30-01-2013 |
Instrument: Proceeds of Assignment Property: All the Insured’s present and future rights to receive payments under the Policy No. 16-430-163-12-7/349804 of Arab Orient Insurance Co. PSC to the Payee Buyer Name: Sudar Industries Ltd. Country: Amount: US$5,000,000 Mortgagee: ICICI Bank Ltd., Hong Kong Branch. |
US$6,500,000 as a sub-limit to the BD/BP Facility vide a Credit Arrangement Letter bearing number 23/IBGHKG/51678 dated 28th December, 2012 |
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05-02-2013 |
Instrument: Charge Over Account(s) Property: As beneficial owner the Company hereby charges in favour of the Bank by way of a first fixed charge, all its present and future rights in respect of the sum(s) of money described below and all interest from time to time accruing or payable thereon upto an amount of US$1.95 million (Current Account Number:852013906) Mortgagee: ICICI Bank Ltd., Hong Kong Branch. |
By way of continuing security for the due and punctual payment to the Bank upto an amount of US$1.95 million, owing or payable to the Bank from or by the Chargor |
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04-03-2013 |
Instrument: Memorandum Property: Distinctive 91210300005474 01-03-2013 US$1,800,000 03-03-2014 Mortgagee: Bank of |
Loan or credit or other facilities |
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10-04-2013 |
Instrument: Letter of Set-Off & Appropriation Property: Account No.: 037517 Deal No.: 183517 Date: 10-04-2013 Amount: US$900,000 Due Date: 10-04-2014 Rate of Interest: 0.72% Mortgagee: Bank of |
Advances and other banking facilities granted to the company from time to time |
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20-08-2013 |
Instrument: Account Charge Granted by the Company in Favour of the Bank Property: The Account Charge, the Company, as legal and beneficial owner, in favour of the Bank, as security for the payment and discharge of the Secured Obligations, by way of first fixed charge all the Company’s right, title and interest from time to time in and to the Account. (Account No.: 10179529) Mortgagee: Macquarie Bank Ltd. |
All obligations and indebtedness |
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30-09-2013 |
Instrument: Charge On Deposit Property: A sum of US$900,000.00 currently represented or evidenced by a certificate of deposit dated 04-09-2013 bearing number 000013010000959 Mortgagee: Union Bank of |
All moneys |
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27-01-2014 |
Instrument: General Letter of Hypothecation Property: All goods and all bills of exchange, promissory notes and negotiable instruments of any description, all bills of lading, dock warrants, delivery orders, warehouse warrants and receipts and other documents of title to or documents relating to goods, and all goods thereby represented or to which such documents relate, and all policies and certificates of insurance in the name of the company should be hypothecated to the bank as for security. Mortgagee: Bank of |
All the moneys |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.01 |
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1 |
Rs.102.72 |
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Euro |
1 |
Rs.81.60 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
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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 |
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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.