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Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
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Name : |
LEO ALLIANCE LTD. |
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Registered Office : |
Room 328, 3/F., Peninsula Centre, 67 Mody Road, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
23.07.2004 |
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Com. Reg. No.: |
34770671 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Pharmaceuticals, Iron and Steel,
Pharmaceutical Chemicals. |
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No. of Employees : |
4 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hongkong |
A1 |
A1 |
|
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 |
HONGKONG - 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 |
LEO ALLIANCE LTD.
ADDRESS: Room 328, 3/F., Peninsula
Centre, 67 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2724 0636, 2723 5541
FAX: 852-2723 5542
E-MAIL: kopranhk@hk.super.net
Managing Director: Mr. Rashmi Anil Tody
Incorporated on: 23rd July, 2004.
Organization: Private Limited Company.
Paid Up Capital: HK$800,000.00
Business Category: Importer,
Exporter and Wholesaler.
Annual Turnover: US$20 – 25 million.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 328, 3/F., Peninsula Centre, 67 Mody Road, Tsimshatsui, Kowloon,
Hong Kong.
Transwin International Ltd., Hong Kong.
[Dissolved]
34770671
0913267
Managing Director: Mr. Rashmi Anil Tody
HK$800,000.00
(As per registry
dated 23-07-2014)
|
Name |
|
No. of shares |
|
Anil Bankatlal TODY |
|
779,999 |
|
Mayank Anil TODY |
|
1 |
|
Rashmi Anil TODY |
|
20,000 |
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|
‑‑‑‑‑‑‑‑‑‑‑ |
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Total: |
800,000 ====== |
(As per registry
dated 23-07-2014)
|
Name (Nationality) |
Address |
|
Rashmi Anil TODY |
Room K, 3/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon,
Hong Kong. |
|
Anil Bankatlal TODY |
Room K, 3/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon,
Hong Kong. |
Anil Bankatlal
TODY (As per registry dated 23-07-2014)
The subject was incorporated on 23rd July, 2004 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: Pharmaceuticals,
Iron & Steel, Pharmaceutical Chemicals
Employees: 4.
Commodities Imported: China, other
Asian countries, etc.
Markets: North America, other Asian countries, etc.
Annual Turnover: US$20 –
25 million.
Terms/Sales: As per contracted.
Terms/Buying: As per contracted.
Paid Up Capital: HK$800,000.00
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.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Bank of Baroda,
Hong Kong Branch.
Standing: Normal.
Having issued 100,000 ordinary shares of HK$1.00 each, Leo Alliance Ltd.
is chiefly jointly owned by Mr. Anil Bankatlal Tody, holding about 80%
interests; and Mr. Rashmi Anil Tody, holding 20%. Incorporated in July; 2004, the subject is a
business of the Tody family.
The subject is trading in the following commodities: eggs (agriculture-
chicken eggs), iron (castings), steel (scarp), pharmaceutical preparation, fire
brick - refractory (refractory bricks), pharmaceutical chemicals.
The subject had an associated company Transwin International Ltd.
located at the same address. Transwin
was a Hong Kong-registered company. This
firm was incorporated on 15th June, 1993 but dissolved by deregistration on
18th June, 2010. It was a
healthcare product trader.
The subject’s products are sourced from China, other Asian countries,
etc. Prime markets are North America,
the other Asian countries, etc. Overall
business is normal. Annual sales
turnover ranges from US$20 to 25 million.
The subject’s business is chiefly handled by the Tody family. History in Hong Kong is over ten years and
two months.
On the whole, consider the subject good for normal business engagements.
|
Date |
Particulars |
Amount |
|
15-11-2004 |
Instrument: Charge Over Accounts (Limited Company
– Under Seal) Property: In consideration of the Bank agreeing to
grant or continuing to grant the Banking Facilities, the Chargor, as
beneficial owner and by way of fixed charge, assigns, charges and pledges the
Charged Property to Bank as a continuing security for the due payment and
satisfaction of the Secured Moneys by the Chargor to the Bank on demand. Deposit Account No.: 636-454449-838 Wayfoong Gold Account No.: 636-454449-838 Securities Account No.: 636-454449-380 Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure all monies in respect of banking facilities owing at any
time plus interest and all expenses |
|
03-09-2007 |
Instrument: Memorandum Property: Distinctive 91220300000234 10-11-2006 US$66,166.84 08-11-2007 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loan or credit or other facilities |
|
29-06-2009 |
Instrument: Memorandum Property: Distinctive 91220300000234 06-11-2008 US$71,619.61 04-11-2009 91220300000493 27-02-2009 US$61,213.33 25-02-2010 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loan or credit or other facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.65 |
|
|
1 |
Rs.96.54 |
|
Euro |
1 |
Rs.76.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
|
-- |
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.