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Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TERRAPOLIS ASIA LTD. |
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Registered Office : |
Unit 1312, 13/F., Laurels Industrial Centre, 32 Tai Yau Street, San Po Kong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.01.2012 |
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Com. Reg. No.: |
59336872 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Decoration Materials, furniture, sundry
products |
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No. of Employees : |
3 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Hong Kong |
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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
TERRAPOLIS ASIA
LTD.
ADDRESS: Flat A, 6/F., Wing Yee
Commercial Building, 3-7 Wing Kut Street, Central, Hong Kong.
PHONE: 852-3425 4633
FAX: Not available.
Managing Director: Mr. Devinder
Kumar Khanna
Incorporated on: 11th January, 2012.
Organization: Private
Limited Company.
Capital:Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Financial
Service Provider, Importer and Exporter.
Employees: 3.
Main Dealing Banker: ICICI Bank
Ltd., Hong Kong Branch.
Banking Relation: Satisfactory.
TERRAPOLIS ASIA
LTD.
Registered
Address:-
Unit 1312, 13/F., Laurels Industrial Centre, 32 Tai Yau Street, San Po
Kong, Kowloon, Hong Kong.
Operating Office:-
Flat A, 6/F., Wing Yee Commercial Building, 3-7 Wing Kut Street,
Central, Hong Kong.
Holding Company:-
Terrapolis Ltd., UK.
Associated
Companies:-
Centrum Landmark Pvt. Ltd., India.
Terrapolis Buildcon Pvt. Ltd., India.
Terrapolis Commercial Pvt. Ltd., India.
Terrapolis Construction Pvt. Ltd., India.
Terrapolis Estates Pvt. Ltd., India.
Terrapolis Hillside Pvt. Ltd., India.
Terrapolis Realty Ltd., UK.
Terrapolis Structures Pvt. Ltd., India.
59336872
1698340
Managing Director: Mr. Devinder
Kumar Khanna
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 11-01-2014)
|
Name |
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No. of shares |
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Terrapolis Ltd. Studland Hall, Studland Street, London, W6 0JS, UK. |
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10,000 ===== |
(As per registry dated 11-01-2014)
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Name (Nationality) |
Address |
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Devinder Kumar KHANNA |
2 Kenton Gardens, Harrow, Middlesex, HA3 8DE, England, UK. |
(As per registry dated 11-01-2014)
|
Name |
Address |
Co. No. |
|
Rya Management Ltd. |
Room 1318-1320, 13/F., Hollywood Plaza, 610 Nathan Road, Mongkok,
Kowloon, Hong Kong. |
0627200 |
The subject was incorporated on 11th January, 2012 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
and Exporter.
Lines: Decoration
Materials, furniture, sundry products
Employees: 3.
Commodities Imported: China, other
Asian countries
Business Territories/Markets:
Hong Kong, India, other Asian countries, UK
Terms/Sales/Service: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Kept
a balance account in 2013.
Condition: Business
is improving.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory
Banker: ICICI Bank Ltd., Hong Kong Branch.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Terrapolis Asia
Ltd. is wholly owned by Terrapolis Ltd. [Terrapolis] which is a UK-based firm.
The directors of the subject are Mr. Devinder Kumar Khanna is a UK‑passport
holder and does not have the right to reside in Hong Kong permanently.
The subject is a member of Terrapolis Group.
The subject can be reached at the phone number 852-3425 4633. Business commenced in January 2012, the
subject is located at Flat A, 6/F., Wing Yee Commercial Building, 3-7 Wing Kut
Street, Central, Hong Kong which is different from its registered address.
The subject is engaged in the same lines of business as Terrapolis. Terrapolis is an active business incorporated
in England and Wales on 12th December, 2011.
Its business activities are Financial Services Holding Companies.
Besides, the subject has had an associated company Terrapolis
Construction Pvt Ltd. [TCPL] which is in India.
This firm is run by Rajanya Aditya Ravasia who is the Director.
Besides TCPL, the following firms are also located at the same address
as TCPL in India:-
Centrum Landmark Private Ltd. [CLPL];
Terrapolis Buildcon Private Ltd. [TBPL].
To our knowledge, TCPL is trading in furniture and decoration
products. Its associated companies are
engaged in building and construction business.
All the above-mentioned firms are managed by Rajanya Aditya Ravasia.
TBPL was incorporated on 21st August, 2012 while CLPL was incorporated
on 18th January, 2013. The businesses of
these two firms are still under development.
The old director Rajanya Aditya Ravasia in India is also operating a
company known as Terrapolis Estates Private Ltd. which commenced business on
1st May, 2013.
Located at the same address of Terrapolis in the United Kingdom, a new
company known as Terrapolis Realty Ltd. was founded on 17th March, 2014.
The Terrapolis Group is chiefly engaged in property development and
building and construction business.
The history of the subject in Hong Kong is just over two years.
On the whole, since the history of the subject is short in Hong Kong,
consider it good for normal business engagements on L/C basis.
|
Date |
Particulars |
Amount |
|
31-05-2012 |
Instrument: Charge Over Cash Deposit between the
Company and the Bank Property: By way of a first fixed charge, all the company’s present & future
rights in respect of the sums of money described below & all interest from
time to time accruing or payable thereon 1) The sums deposited by
the company or for it’s benefit in the savings and deposit account, including
any renewal or redesignation thereof, or evidenced by deposit additions to or
renewals or replacements of such in any currency & any deposit with the
Bank which derives in whole or in part from any such sums and which is made
in the company’s name or for it’s benefit 2) All other sums in any currency
from time to time standing to company’s credit or the credit of any other
person for the company’s benefit on any deposit or other account with the
Bank including additions to or renewals or replacements of such sums; 3) Any amount received by
or for the account of the Bank which the Bank is under a duty to credit to
the account’s but which the Back has not yet credited to the account’s; and 4) Any interest and/or
other amounts accrued or accruing on an amount covered by paragraphs (1) to
(3) above whether or not the interest has been credited to that accounts Mortgagee: ICICI Bank Ltd., Hong Kong
Branch. |
All monies at the date of the Deed or at any time thereafter or from
time to time due |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.23 |
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|
1 |
Rs.101.68 |
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Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NNA |
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.