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Report Date : |
06.09.2014 |
IDENTIFICATION DETAILS
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Name : |
EMKAY INDUSTRIES (H.K.) LTD. |
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Registered Office : |
18/F., Crocodile Centre, |
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Country : |
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Date of Incorporation : |
17.10.1975 |
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Com. Reg. No.: |
04551526 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and wholesaler of All kinds of garments. |
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No. of Employees |
35. |
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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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Source
: CIA |
EMKAY INDUSTRIES
(H.K.) LTD.
ADDRESS: 18/F., Crocodile Centre,
PHONE: 852-3760 7100
FAX: 852-2357 4010
E-MAIL: rosa@emkay-hk.com
nilesh@emkay-hk.com
Managing Director: Mr. Murli Khushiram Sajnani
Incorporated on: 17th
October, 1975.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,428,500.00
Issued: HK$1,428,500.00
Business Category: Importer, Exporter and wholesaler.
Annual Turnover: HK$80~90
million.
Employees:
35.
Main Dealing Banker: CITIC Bank International Ltd.,
Banking Relation: Satisfactory.
EMKAY INDUSTRIES
(H.K.) LTD.
ADDRESS:
Registered Head
Office:-
18/F., Crocodile Centre,
Mailing Address: G.P.O.
Associated
Companies:- (Same address)
Kenvelo (HK) Ltd., Hong Kong.
Million International Ltd.,
Ontrend (H.K.) Ltd., Hong Kong.
04551526
0044527
Managing Director: Mr. Murli Khushiram Sajnani
Contact Person: Mr. Tommy Hung
Nominal Share Capital: HK$1,428,500.00
(Divided into 14,285 shares of HK$100.00 each)
Issued Share Capital: HK$1,428,500.00
(As per registry dated 17-10-2013)
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Name |
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No. of shares |
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Murli Khushiram SAJNANI |
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5,000 |
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Asha Murli SAJNANI |
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5,000 |
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Kellerton Group Ltd. |
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4,285 |
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–––––– |
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Total: |
14,285 ===== |
(As per registry dated
17-10-2013)
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Name (Nationality) |
Address |
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Murli Khushiram SAJNANI |
Flat D, 5/F., |
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Nilesh Murli SAJNANI |
Flat D, 5/F., |
(As per registry dated 17-10-2013)
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Name |
Address |
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Edtoma Secretarial Services Ltd. |
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0534483 |
The subject was incorporated on 17th October, 1975 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 11/F., Rays Industrial Building, 71
Hung To Road, Kwun Tong, Kowloon, Hong Kong, moved to the present address with
effect from 5th August, 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer, Exporter and wholesaler.
Lines: All kinds of garments.
Brand Names: John Stevens, JS Jeans, etc.
Employees: 35.
Materials/Commodities: Imports raw
materials from European countries, some Asian countries and finished products
from
Markets: Europe, Scandinavia, US, Asian
countries, etc.
Annual Turnover: HK$80~90 million.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/A, etc.
Nominal Share Capital: HK$1,428,500.00 (Divided into 14,285 shares of
HK$100.00 each)
Issued Share Capital: HK$1,428,500.00
Alternation of Capital:-
|
Initially |
paid up |
HK$1,000,000.00 |
|
December 2012 |
paid up |
HK$
428,500.00 |
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––––––––––––––– |
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Total: |
paid up |
HK$1,428,500.00 ============= |
Increases of Nominal Capital:-
|
From |
HK$1,000,000.00 |
to |
HK$1,428,500.00 |
in |
December 2012 |
Mortgage or Charge: (See
attachment)
Profit or Loss: Maintaining a
small profit every year.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking
facilities.
Payment: Met
trade commitments on time.
Commercial Morality: Satisfactory.
Bankers:-
CITIC Ka Wah Bank
Ltd., Hong Kong.
[Now known as CITIC Bank International Ltd.]
DBS Bank
(Hong Kong) Ltd., Hong Kong.
HBZ Finance Ltd.,
Hong Kong.
Indian Overseas
Bank, Hong Kong Branch.
Shanghai
Commercial Bank Ltd., Hong Kong.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
UCO Bank,
Hong Kong Branch.
Standing:
Very Good.
At the beginning, having issued 10,000 ordinary shares of HK$100.00
each, Emkay Industries (H.K.) Ltd. formerly was equally owned by Mr. Murli
Khushiram Sajnani and Mrs. Asha Murli Sajnani. The subject then has issued 4,285 more shares
which have been allotted to a BVI-registered firm Kellerton Group Ltd. [Kellerton]. Now, the subject is jointly held by
Mr. Murli Khushiram Sajnani, holding 35%, Mrs. Asha Murli Sajnani, also
35%; Kellerton, 30%. The Sajnanis belong
to the Sajnani family.
Being Indian, the first and second shareholders have been in
Hong Kong for a very long time as they have got the right to reside in
Hong Kong permanently. The
directors of the subject are Murli Khushiram Sajnani and Nilesh Murli
Sajnani. They belong to the same family.
The subject is a garment trader.
It has had three associated companies located at its operating address,
namely, Ontrend (H.K.) Ltd., Million International Ltd. and Kenvelo (HK) Ltd.,
all are Hong Kong-registered firms.
These three firms are engaged in the same lines of business as the
subject.
The subject moved to the present new address in August 2010.
The subject has got an affiliated garment manufacturing factory in
Ningbo City, Zhejiang Province, China.
Currently, the subject is trading in the following commodities:-
Belt – Imitation Leather;
Belt – Textile;
Belts;
Blouses;
Clothing Accessories;
Coats;
Dress Gloves;
Dresses and Skirts;
Imitation / Costume Jewellery;
Imitation / Costume Jewellery and Hair Ornament;
Knitted Garments;
Knitwear;
Other Children’s Wear;
Polo Shirts;
Scarves;
Sport Shirts;
Suits and Jackets – Men’s;
Suits and Jackets – Women’s;
Sweat Shirts;
Tee-Shirts (Men’s, Women’s and Children’s);
Trousers and Slacks;
Underwear – Children’s;
Underwear – Men’s;
Underwear – Women’s; &
Underwear and Nightwear.
Products, manufactured by its affiliated factory in China or sourced
from the other China suppliers, are exported to India, the United States,
Europe, Scandinavia, Africa, etc.
Business is rather active. One of
the subject’s significant US customers is 4You America LLC. This firm is in New York, the United States.
The contact person of the subject Mr. Tommy Hung is an employee of the
subject. Being a Hongkongnese, he is the
senior merchandiser of the subject.
Annual sales turnover of the subject ranges from HK$80 to 90
million. Regular suppliers and overseas
customers have been maintained. Making a
small profit every year.
According to the subject, it is going to penetrate the international
market further, especially the United States.
On the whole, since the history of the subject in Hong Kong is over
thirty‑eight years and ten months, consider it good for normal business
engagements.
Property information of
the company:-
1. Property Location: Flat D on 5/F. and Car Park Space Nos.
14 & 14A on 3rd Car Port Floor, Hong Kong Garden, 8 Seymour Road, Hong
Kong.
Owner: Emkay Industries (H.K.)
Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
10-12-2004 |
- |
HBZ Finance Ltd., Hong Kong. |
Mortgage to secure general credit facilities |
2. Property Location: Flat C on 7/F. and Car Park Space Nos.
25 & 25A on 3rd Car Port Floor, Hong Kong Garden, 8 Seymour Road, Hong
Kong.
Owner: Emkay Industries (H.K.)
Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
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14-12-2007 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities granted to Emkay
Industries (H.K.) Ltd., Ontrend (H.K.) Ltd. and Million International Ltd. |
3. Property Location: Apartment C on G/F. and Car Parking
Space No. 41, Alpine Court, 12 Kotewall Road, Hong Kong.
Owner: Emkay Industries (H.K.)
Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
29-12-2008 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities granted to Emkay
Industries (H.K.) Ltd., Ontrend (H.K.) Ltd. and Million International Ltd. |
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Date |
Description of
Instrument |
Mortgagee |
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10-12-2004 |
Mortgage |
HBZ Finance Ltd., Hong Kong. |
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06-07-2007 |
Assignment of DC Proceeds re export bills restricted to other banks
for negotiation/payment |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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14-12-2007 |
Mortgage |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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30-07-2008 |
Lien and Set-Off Agreement |
HBZ Finance Ltd., Hong Kong. |
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29-12-2008 |
Mortgage |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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17-08-2010 |
Assignment of Life Insurance |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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19-12-2012 |
Undertaking Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
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18-04-2013 |
Undertaking Relating To Deposits |
Indian Overseas Bank, Hong Kong Branch. |
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31-10-2013 |
Undertaking Relating To Deposits |
Indian Overseas Bank, Hong Kong Branch. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.44 |
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UK Pound |
1 |
Rs.98.64 |
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Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SDA |
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.