|
Report No. : |
315505 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADONISS LTD. |
|
|
|
|
Registered Office : |
Room 803, 8/F., Lippo Centre, Tower 2, 89 Queensway, Admiralty |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
16.09.1993 |
|
|
|
|
Com. Reg. No.: |
17391818 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
Importer and Exporter; Buying Office and Regional Office of All kinds of newsprint paper, graphic paper, timber, soya bean, raw cashew in shells, industrial materials, sundries and native produces |
|
|
|
|
No of Employees : |
16 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
|
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Payment Behaviour : |
No Complaints |
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Litigation : |
-- |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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 |
ADONISS LTD.
ADDRESS: Room 803, 8/F., Lippo
Centre, Tower 2, 89 Queensway, Admiralty, Hong Kong.
PHONE: 852-2850 7366, 2851 7366,
3664 2603, 3664 2605
FAX: 852-2542
2302, 2851 7423
E-MAIL: ajay@mayarhk.com
Managing Director: Mr. Ajay
Deepak
Incorporated on: 16th September, 1993.
Organization: Private Limited
Company.
Issued Share Capital: US$9,972,000.00
Business Category: Importer
and Exporter; Buying Office and Regional Office.
Annual Turnover: US$200~220 million.
Employees: 16.
Main Dealing Bankers: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Very Good.
ADONISS LTD.
Registered Head Office:-
Room 803, 8/F., Lippo Centre, Tower 2, 89 Queensway, Admiralty,
Hong Kong.
Overseas Offices:-
Yangon Office
Room 703-704, Level 7, La Pyayt Wun Plaza, No. 37, Signal Pagoda Road,
Dagon Township, Yangon, Myanmar.
Tel: 95-1-371374, 371375
Fax: 95-1-371376
E-mail: mayarcm@myanmar.com.mm
Malaysia Office
H. No. 8-A, Lane 15, Delta Estate, 96000, SIBU, Sarawak, Malaysia.
Tel: 60-84-338730
Fax: 60-84-338641
E-mail: mayarsb@streamyx.com
Parent Company:-
Mayar India Ltd., India.
Associated/Affiliated Companies:-
Mayar Group of Companies
Amar Eye Centre & Research, India.
Atos Mayar, Singapore.
Blue Diamond Far East Pte. Ltd., Singapore.
Mannor Impex Pvt. Ltd., India.
Marque Capital Partners Pte. Ltd., Singapore.
Mayar Biotech Ltd., India.
Mayar Finance Ltd., India.
Mayar Health Resorts Ltd., India.
Mayar Infrastructure Development Pvt. Ltd., India.
Mayar Properties & Investments (Pvt.) Ltd., India.
Mayar Securities (Pvt.) Ltd., India.
Qingdao Jinhuihai International Transportation Co. Ltd., China.
Sanguine Singapore Pte. Ltd., Singapore.
Shree Cosmetics Ltd., India.
Signalize Impex (P) Ltd., India.
Sivananda Pharmaceuticals (Pvt.) Ltd., India.
Trinity Buildcon (India) Pvt. Ltd., India.
V.O.U. Investment (Pvt.) Ltd., India.
etc.
17391818
0449525
Group Chairman & Managing Director: Mr. Ajit Kumar Sud
Director & Business Head: Mr.
Ashit Sud
Managing Director: Mr. Ajay
Deepak
US$9,972,000.00
(As per registry
dated 16-09-2014)
|
Name |
|
No. of shares |
|
Ajit Kumar SUD |
|
16 |
|
Mayar India Ltd. Plot No. A, Basant Lok Community Centre, Vasant Vihar, New Delhi
110057, India. |
|
79,744 |
|
Ajay DEEPAK |
|
16 |
|
|
|
–––––– |
|
|
Total: |
79,776 ===== |
(As per registry
dated 09-12-2014)
|
Name (Nationality) |
Address |
|
Ajit Kumar SUD (Indian) |
2-A, Shankra Charya Marg, Behind I.P. College, Civil Lines, Alipur
Road, New Delhi-110054, India. |
|
Ashit SUD |
Flat B, 37/F., Tower 8, Phase 1, Residence Belair,
28 Bel Air Avenue, Hong
Kong. |
|
Abhit SUD |
2-A, Shankra Charya Marg, Behind I.P. College, Civil Lines, Alipur
Road, New Delhi-110054, India. |
|
Ajay DEEPAK |
Flat B, 21/F., Bellevue Heights, 8 Tai Hang Drive, Tai Hang,
Hong Kong. |
(As per registry
dated 16-09-2014)
|
Name |
Address |
Co. No. |
|
Tricor Tengis Ltd. |
Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong. |
0041027 |
The subject was incorporated on 16th September, 1993 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Mayar (H.K.)
Ltd., name was changed to Adonis Ltd. on 22nd July, 2011, and further to the
present style on 8th December, 2014.
Formerly the subject was located at Room 1102, 11/F., The Centre Mark,
287‑299 Queen’s Road Central, Hong Kong, moved to Room
604, 6/F., Lippo Centre, Tower 1, 89 Queensway, Admiralty, Hong Kong with
effect from 8th February, 1999; and further moved to the present address in
June 2010.
In September 2009, the subject increased its ordinary shares from 63,776
to 79,776.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter; Buying Office and Regional Office.
Lines: All kinds of
newsprint paper, graphic paper, timber, soya bean, raw cashew in shells,
industrial materials, sundries and native produces.
Employees: 16.
Commodities Imported: Russia, Germany,
Austria, Korea, India, etc.
Markets: Hong
Kong, India and Southeast Asia.
Annual Turnover: US$200~220
million.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
The Indian Chamber of Commerce Hong Kong, Hong Kong.
Issued Share Capital: US$9,972,000.00
Mortgage or Charge (since June 2008):
(See attachment)
Profit or Loss: Operation
is profitable.
Condition: Keeping
in an active and satisfactory condition.
Facilities: Making
active use of general banking facilities.
Payment: Met obligations as
contracted.
Commercial Morality: Good.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered
Bank (Hong Kong) Ltd., Hong Kong.
Credit Agricole Corporate & Investment Bank, Hong Kong Branch.
BNP Paribas,
Hong Kong Branch.
Australia & New Zealand Banking Group
Ltd., Hong Kong Branch/Singapore Branch.
Indian Overseas
Bank, Hong Kong Branch.
Bank of Baroda,
Hong Kong Branch.
Bank of India,
Hong Kong Branch.
Axis Bank Ltd.,
Hong Kong Branch.
Allahabad Bank,
Hong Kong Branch.
UCO Bank,
Hong Kong Branch.
Bank of India,
Hong Kong Branch.
Standing: Very Good.
Adoniss Ltd. was incorporated in Hong Kong in September 1993 and commenced
business in June 1994. Its holding
company Mayar India Ltd. [Mayar India] is an India-based firm.
The subject changed name to the present style in December 2014.
It is engaged in establishing trade links between India, Hong Kong and
the other countries of the world. It is
rapidly developing business ties with India and serving as a foothold for Mayar
to penetrate into the world market. The
subject carries Publication Paper, Timber, Agriculture Produce, Iron Ore and
Steel.
The subject is an Indian company acting as a buying and regional office
for Mayar India in Hong Kong.
Located in New Delhi, India, Mayar India has been dealing in paper for
over 50 years. Mayar India, the flagship
company of the Mayar Group, is engaged in international trading. It also monitors of all the Group companies
in India and abroad. The total annual
sales turnover of the Group is over US$600 million. Business is active.
The subject is a part of the Mayar Group which is headquartered in India
and has a history of over 66 years.
Established in 1948, Mayar Group is a large business conglomerate having
interests in paper, timber, beans, other agricultural products, iron and steel,
iron ore, real estates, personal care products, infrastructure development and
hospitality. It is one of the
significant enterprises in India.
Mayar Group has set up a number of affiliated and associated companies
in the world. It oversees the activities
of all its offices across the world — in Hong Kong which is the subject,
Malaysia, Singapore, Indonesia, Venezuela, Burma and even Russia.
According to the Group, it is a “debt free company” as it believes in
expanding its interests by drawing on its own resources. The Group will keep on expanding in the years
ahead under this way. For instance, the
Group has set up the following two new firms in Singapore:-
The former is a Spa Chain in Singapore while the latter is a shipping
company. Now, the Group has become a USD
one billion multinational and multi-product conglomerate with diversified
business interests.
The Group’s Mayar Infrastructure Development Pvt. Ltd. [MIDPL] is
developing a 100 Acres of Special Economic Zone in Northern India (Delhi /
National Capital Region). MIDPL is a
part of Mayar Group.
Keystone Knowledge Park (KKP, formerly known as ‘Mayar Biotech SEZ’) has
a total of 100 acres of land which is the Government of India notified for
Biotechnology & Life Sciences.
KKP is strategically located on Sohna road which enable access and
connect to R &D clusters of CSIR, DBT in South Delhi, Faridabad and
Business Hub of Gurgaon and Sohna.
KKP is developed with a vision of creating world-class
infrastructure. It is engaged in food
processing, textiles, packaging and warehousing industry. Park also has flatted factories for lease for
entrepreneurs looking at warehousing or ready to move in industrial space. Common facility centre would enable entrepreneurs
to use the cost of operations and their set up cost. Developer in-house team will support
entrepreneurs in seeking state and central government approvals.
In Hong Kong, the subject is rated as one of the largest trading company
of Indian origin, with its net worth about US$35 million as of 31st March,
2012. Now, its annual sales turnover
ranges from US$200 to 220 million.
Business is active.
The subject is principally engaged in importing and exporting standard
newsprint paper and glazed newsprint paper.
The suppliers are in Russia, Germany, Austria and South Korea. In order to diversify the business, the
subject also has been engaged in importing and exporting timber, agricultural
products, iron ore, iron and steel, chemicals, etc. Its business has penetrated China and offices
have been set up in Guangzhou, Qingdao and Beijing.
The directors of the subject are also Chief Executive Officers of the
Mayar Group. The subject is fully
supported by the Mayar Group. Business
keeps on improving.
In Hong Kong, the business of the subject is chiefly handled by Mr. Ajay
Deepak who is residing in Hong Kong most of the time. He is a Hong Kong ID holder and has got the
right to reside in Hong Kong permanently.
On the whole, having a history of over twenty-one years and six months,
the subject is considered good for normal business engagements.
Brief personal profile of directors:-
Mr. Ajit Kumar SUD is the Chairman
and Managing Director of the Group. Born
in 1946, Mr. Ajit Kumar Sud joined in the family business in 1967, a worthy
inheritor of his father’s mantle, is continuing the legacy by expanding the
Group in other areas like Health Resorts, Day Spas, and Development of Special
Economic Zones. He is sticking firmly to
the ideals that have made the Mayar a corporate global organization.
Mr. Ashit SUD is the Business
Head. Born in 1979, Mr. Ashit Sud is the
elder son of Mr. A.K. Sud. He possesses
a degree in B.Sc. (Hons), specializing in Finance and Human Resources from
University of Bradford, the United Kingdom.
He has got extensive training in the subject for 7 years. He joined the family business in 2000. He was part of the core team for establishing
the Mayar Group’s Hospitality Venture, Health Spa at Ashok Hotel, Chanakyapuri,
New Delhi in 2004. Presently he is the
Business Head of the subject.
Mr. Ajay DEEPAK,
MSc. (Physics), CAIIB is a professional from banking
industry. Has over 20 years of banking
experience at National and International level.
His present position is Managing Director of the subject.
Court
case record:-
|
Action
Date |
Case
No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
06-12-2007 |
H1430 |
Ashita Impex Pvt. Ltd. |
Mayar (H.K.) Ltd. and other |
Money Due/Owing |
US$358,000 |
Property information of
the company:-
1. Property Location: Room 803 on 8/F. of Tower 2, Lippo Centre, 89 Queensway,
Hong Kong.
Owner: Mayar (H.K.) Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
10-02-2010 |
- |
Bank of India, Hong Kong Branch. |
Mortgage to secure general banking facilities |
2. Property Location: Flat G on 11/F. of Tower 18, South Horizons,
18 South Horizon Drive, Hong Kong.
Owner: Mayar (H.K.) Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
19-11-1998 |
- |
Banque Nationale de Paris, Hong Kong Branch. [Now known as BNP Paribas] |
Mortgage to secure general banking facilities |
3. Property Location: Flat E on 8/F. of Block 7, City Garden, 233 Electric Road,
Hong Kong.
Owner: Mayar (H.K.) Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
10-09-2010 |
- |
Allahabad Bank, Hong Kong Branch. |
Mortgage to secure general banking facilities |
4. Property Location: Flat B on 37/F. of Tower 8 and Private Car Park No. 188 on
Car Park Level 2, Residence Bel-Air, 28-38 Bel-Air Avenue,
Island South, Hong Kong.
Owner: Mayar (H.K.) Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
30-09-2010 |
- |
Bank of Baroda, Hong Kong Branch. |
Mortgage to secure general banking facilities |
(Since June 2008)
|
Date |
Description of
Instrument |
Mortgagee |
|
07-08-2008 |
Letter
of Set-off and Appropriation |
Bank of India, Hong Kong Branch. |
|
24-09-2008 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
|
31-01-2009 |
Charge
on Deposit |
Axis Bank Ltd., Hong Kong Branch. |
|
06-03-2009 |
Obligations
of the Depositor |
Allahabad Bank, Hong Kong Branch. |
|
12-05-2009 |
Letter
of Set-off and Appropriation |
Bank of India, Hong Kong Branch. |
|
01-06-2009 |
Undertaking
Relating to Deposits |
UCO Bank, Hong Kong Branch. |
|
10-02-2010 |
Mortgage |
Bank of India, Hong Kong Branch. |
|
21-04-2010 |
Memorandum |
Bank of Baroda, Hong Kong Branch. |
|
21-06-2010 |
Undertaking
Relating to Deposits |
UCO Bank, Hong Kong Branch. |
|
10-09-2010 |
Mortgage |
Allahabad Bank, Hong Kong Branch. |
|
30-09-2010 |
Mortgage |
Bank of Baroda, Hong Kong Branch. |
|
04-04-2011 |
Charge
Over Deposit |
Axis Bank Ltd., Hong Kong Branch. |
|
23-05-2011 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
|
17-08-2011 |
Obligations of the Depositor |
Allahabad
Bank, Hong Kong Branch. |
|
17-08-2011 |
General Letter of Hypothecation |
Allahabad
Bank, Hong Kong Branch. |
|
02-09-2011 |
Memorandum |
Bank of Baroda, Hong Kong Branch. |
|
01-12-2011 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
|
12-04-2013 |
Charge
on Deposit |
Union Bank of India, Hong Kong Branch. |
|
07-06-2013 |
Charge
on Deposit |
Union Bank of India, Hong Kong Branch. |
|
20-10-2014 |
First Preferred Liberian Mortgage in
respect of m.v. “Drill Force I” |
Union Bank of India, Hong Kong Branch. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.59 |
|
|
1 |
Rs. 92.45 |
|
Euro |
1 |
Rs. 67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.