MIRA
INFORM REPORT
|
Report No. : |
305519 |
|
Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADONISS LIMITED |
|
|
|
|
Formerly Known as : |
Adonis Limited |
|
|
|
|
Registered Office : |
Room 803, 8/F., Lippo Centre, Tower II, 89 Queensway,
Admiralty |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
16.09.1993 |
|
|
|
|
Com. Reg. No.: |
449525 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
· engaged in Trading Building Materials and Paper Products such as Logs, Soft Woods, Newsprint, Cement & steel. Subject
also provides financial and investment services to the Group Companies. |
|
|
|
|
No of Employees : |
About 10 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Hong Kong |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
Contact Points
|
Company Name: |
Adoniss Limited |
|
Supplied Name: |
Adonis Ltd |
|
Trading Address: |
Room 803, 8/F., Lippo Centre, Tower II, 89
Queensway, Admiralty, Hong Kong |
|
Supplied Address: |
Lippo Center, Tower 2, 8 th Floor Suite 803, 89 Queensway, Admirality |
Note: The exact name and address are as above. The
supplied name belongs to subject’s former name.
Credit Summary
|
Credit Opinion: |
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 803, 8/F.,
Lippo Centre, Tower II, 89 Queensway, Admiralty, Hong Kong |
|
Telephone Number: |
+852-2850-7366 |
|
Fax Number: |
+852-2542-2302 |
|
Date of Registration: |
1993-9-16 |
|
Registered Number: |
|
|
Business Registration No.: |
17391818 |
|
Paid-up Capital: |
USD 9,972,000
= 79,776 Shares@ USD 125 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
64132--Paper and paperboard of a kind used for writing,
printing or other graphic purposes, not containing fibres obtained by a
mechanical or chemi-mechanical process or of which not more than 10 % by
weight of the total fibre content consists of such fibres (kg) |
|
Principal Activities: |
· engaged in Trading Building Materials and Paper Products such as Logs, Soft Woods, Newsprint, Cement & steel. Subject
also provides financial and investment services to the Group Companies. |
|
Staff: |
About 10 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-9-16 |
History
Subject was incorporated on 1993-9-16 with the registered number 449525 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2014-12-8 |
Adoniss Limited |
|
2011-7-22 |
Adonis Limited |
|
1993-9-16 |
Mayar (H.K.) Limited |
Corporate
Structure
Major Related
Companies
|
1 |
|
|
Name: |
Mayar India Ltd. |
|
Address: |
3rd Floor, Sucheta Bhawan 11, Vishnu
Digambar Marg, Rouse Avenue, ITO, New Delhi – 110 002 |
|
2 |
|
|
Name: |
Global Wellness Holding Pte Ltd |
|
Address: |
2 Kallang Avenue, #06-30 CT Hub, Singapore
339407 |
|
3 |
|
|
Name: |
Aubade NZ Ltd |
|
Address: |
Suite 703, 350 Queen Street, Auckland 1010,
New Zealand |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Ajay Deepak |
16 |
0.02% |
|
Ajit Kumar Sud |
16 |
0.02% |
|
Mayar India Ltd. |
79,744 |
99.96% |
|
Total |
79,776 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Ajay Deepak |
|
Address: |
Flat B, 21/F., Bellevue Heights, No.8 Tai
Hang Drive, Tai Hang, Hong Kong |
|
2 |
|
|
Name: |
Sud Ajit Kumar |
|
Address: |
2-A, Shankracharya Marg, Behind I.P.
College, Civil Lines, New Delhi 54, India |
|
3 |
|
|
Name: |
Mayar India Ltd. |
|
Address: |
Plot No. A, Basant Lok Community Centre,
Vasant Vihar, New Dekhi, 110057, India |
Management
Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Sud Ajit Kumar |
|
Address: |
2-A, Shankracharya Marg, Behind I.P. College,
Civil Lines, New Delhi 54, India |
|
Position: |
Director |
|
Passport Number: |
Z2009271 |
|
Issuing Country: |
India |
|
2 |
|
|
Name: |
Sud Ashit |
|
Address: |
Flat B, 37/F., Tower 8, Phase 1, Residence Belair,
Island South, 28 Bel Air Avenue, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P993566(9) |
|
3 |
|
|
Name: |
Sud Abhit |
|
Address: |
2-A, Shankracharya Marg, Civil Lines, Alipur
Road, Delhi 110054, India |
|
Position: |
Director |
|
Passport Number: |
Z2008357 |
|
Issuing Country: |
India |
|
4 |
|
|
Name: |
Ajay Deepak |
|
Address: |
Flat B, 21/F., Bellevue Heights, No.8 Tai
Hang Drive, Tai Hang, Hong Kong |
|
Position: |
Director |
|
Passport Number: |
P709056(4) |
|
5 |
|
|
Name: |
Tricor Tengis Limited |
|
Address: |
Level 54, Hopewell Centre, 183 Queen’s Road
East, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
041027 |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Room 803, 8/F.,
Lippo Centre, Tower II, 89 Queensway, Admiralty, Hong Kong |
Premises
Information
Office address:
|
Address: |
Room 803 on 8th Floor, Tower Two Lippo
Centre, No.89 Queensway, Hong Kong |
|
Owners: |
Adoniss Limited |
|
Memorial Number: |
11081602260016 Certified copy of certificate of change of
name |
|
Date of Instrument: |
2011-7-22 |
|
Date of Registration: |
2011-8-16 |
History of Premises
Owners’
|
1 |
|
|
Memorial No.: |
10030900840030 |
|
Date of Instrument: |
2010-2-10 |
|
Date of Registration: |
2010-3-9 |
|
Nature: |
Mortgage |
|
In Favor of: |
Bank of India |
|
Consideration: |
All moneys |
|
2 |
|
|
Memorial No.: |
09110901780025 |
|
Date of Instrument: |
2009-10-29 |
|
Date of Registration: |
2009-11-9 |
|
Nature: |
Agreement for sale and purchase Remarks: See assignment mem. no.
10030900840021 |
|
In Favor of: |
Mayar (H.K.) Limited |
|
Consideration: |
HKD 4,000,000.00 |
|
3 |
|
|
Memorial No.: |
09102901060040 |
|
Date of Instrument: |
2009-10-9 |
|
Date of Registration: |
2009-10-29 |
|
Nature: |
Provisional agreement for sale and purchase Remarks: See assignment mem. no.
10030900840021 |
|
In Favor of: |
Mayar (H.K.) Limited |
|
Consideration: |
HKD 54,000,000.00 |
Production
Information
l
Subject is a trader of building
materials and paper products without any production activities.
Purchase
Information
l
Subject purchases
products from both home and abroad and we obtained some detail information as
follows for reference.
|
Products |
Origin Area |
|
Timber Logs |
Malaysia, Myanmar, New Zealand,
Africa |
|
Publication Paper |
US, Canada, China |
Sales Information
l
Subject is engaged in
sale of building materials and paper products
l
Subject’s major products
include logs, soft woods, newsprint, cement & steel.
l
Subject also provides
financial and investment services to the group companies.
l
Subject’s sales region
focuses on Asia market.
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Building materials and paper products |
|
Payment Terms |
Cash, T/T |
2.
Import
|
Products |
Building materials and paper products |
|
Payment Terms |
T/T |
Sales
1.
Domestic Markets
|
Product |
Building materials and paper products |
|
Selling Terms |
Cash, T/T |
2.
Export
|
Product |
Building materials and paper products |
|
Selling Terms |
L/C, T/T |
Financial
Information
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff rejected to disclose the financial information; from other sources we could not obtain such information, either.
Bankers
|
Name: |
Union Bank of India |
|
000013010000927 000013010000931 000013010000907 |
Public
Mortgage Record
|
1 |
||||
|
Company Name: |
||||
|
Instrument of Creating Mortgage: |
Charge on Deposit |
|||
|
Date of Creating Mortgage: |
2013-6-7 |
|||
|
Amount Secured: |
All Moneys |
|||
|
Name of Mortgagee: |
Union Bank of India |
|||
|
Address of Mortgagee: |
Suite 1903-04, 19/F., 9 Queens Road, Central,
Hong Kong |
|||
|
Description of Property Mortgaged: |
Account Number: 1. 000013010000927 2. 000013010000931 A sum of USD 1,300,000.00 (combined amount) Break up: 1. 000013010000927 – USD 525,000.00
2. 000013010000931 – USD 775,000.00 |
|||
|
2 |
||||
|
Company Name: |
Adoniss Limited |
|||
|
Instrument of Creating Mortgage: |
Charge on Deposit |
|||
|
Date of Creating Mortgage: |
2013-4-12 |
|||
|
Amount Secured: |
All Moneys |
|||
|
Name of Mortgagee: |
Union Bank of India |
|||
|
Address of Mortgagee: |
Suite 1903-04, 19/F., 9 Queens Road,
Central, Hong Kong |
|||
|
Description of Property Mortgaged: |
Account Number: 000013010000907 A sum of USD 1,699,000.00 |
|||
|
3 |
||||
|
Company Name: |
Adoniss Limited |
|||
|
Instrument of Creating Mortgage: |
Undertaking relating to deposits |
|||
|
Date of Creating Mortgage: |
2011-12-1 |
|||
|
Amount Secured: |
All and any liabilities, sole or joint,
actual or contingent, quantified or not, sole or joint, actual or contingent,
quantified or not, now or hereafter owing or incurred to the Bank by the
company or any third party designated by the company. |
|||
|
Name of Mortgagee: |
India Overseas Bank, Hong Kong Main Branch |
|||
|
Address of Mortgagee: |
3/F., Ruttonjee House, No.11 Duddell Street,
Central, Hong Kong |
|||
|
Description of Property Mortgaged: |
||||
|
Distinctive No. of Receipt |
Date of Receipt |
Amount of Deposit |
Rate of Interest |
Maturity Date Shown on Receipt |
|
2008 FD 19 14 |
2011-10-10 |
USD 777,865.82 |
0.64% |
2012-1-9 |
|
2008 FD 20 14 |
2011-10-10 |
USD 777,865.82 |
0.64% |
2012-1-9 |
|
2008 FD 21 14 |
2011-10-10 |
USD 845,413.10 |
0.64% |
2012-1-9 |
|
2010 FD 516 4 |
2011-11-28 |
USD 403,789.68 |
1.25% |
2012-2-27 |
|
2010 FD 518 4 |
2011-11-29 |
USD 201,894.85 |
1.25% |
2012-2-27 |
|
2010 FD 530 3 |
2011-9-6 |
USD 150,949.42 |
1.25% |
2011-12-5 |
|
2010 FD 539 3 |
2011-9-14 |
USD 100,632.94 |
1.25% |
2011-12-13 |
|
2010 FD 544 3 |
2011-9-15 |
USD 150,949.42 |
1.25% |
2011-12-14 |
|
2011 FD 45 3 |
2011-10-25 |
USD 60,154.60 |
0.67% |
2012-1-26 |
|
2011 FD 154 1 |
2011-7-25 |
USD 480,000.00 |
1.50% |
2012-1-26 |
|
2011 FD 295 1 |
2011-10-26 |
USD 653,000.00 |
0.86% |
2012-4-23 |
|
Any renewals thereof, and any monies, deposit,
debt or credit directly or indirectly deriving from (or deemed by the Bank in
good faith to derive from) the deposit or from any transfer of the deposit to
any branch of the Bank or change in the currency of the deposit and
references to the deposit include a part thereof, any additional sums
deposited on the terms hereof (whether under paragraph C.5 or otherwise) and
any interest accrued on the deposit. |
||||
|
4 |
||||
|
Company Name: |
Adoniss Limited |
|||
|
Instrument of Creating Mortgage: |
Memorandum |
|||
|
Date of Creating Mortgage: |
2011-9-2 |
|||
|
Amount Secured: |
Loan or credit or other facilities |
|||
|
Name of Mortgagee: |
Bank of Baroda (“BOB”) |
|||
|
Address of Mortgagee: |
4/F., Dine House, Ruttonjee Centre, 11 Duddell
Street, Central, Hong Kong |
|||
|
Description of Property Mortgaged: |
||||
|
Distinctive No. of Receipt |
Date of Issue |
Amount USD |
Due Date |
|
|
91210300004549 |
2010-11-16 |
USD 162,025.37 |
2011-11-16 |
|
|
91210300004547 |
2010-11-30 |
USD 251,183.24 |
2011-11-30 |
|
|
91210300004652 |
2010-12-21 |
USD 286,175.62 |
2011-12-21 |
|
|
91210300004693 |
2010-12-29 |
USD 221,164.97 |
2011-12-29 |
|
|
91210300004717 |
2011-1-5 |
USD 122,995.23 |
2012-1-5 |
|
Lawsuits
Up to now, no present or latent litigation of the
subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy
Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction &
Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special Note
Interview
Details
|
Name |
Operator |
Industry
Information
Unit: HKD/000
|
|
2014.05 |
2014.01~2013.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Austria |
48,398 |
446 |
670,798 |
6,149 |
|
The Mainland of China |
6,494,117 |
40,003 |
37,098,853 |
224,841 |
|
Germany |
63,509 |
1,963 |
1,179,957 |
9,227 |
|
UK |
174,905 |
1,273 |
707,240 |
5,360 |
|
Japan |
2,347,840 |
16,7446 |
10,333,466 |
70,194 |
|
South Korea |
1,132,830 |
6,856 |
5,469,033 |
32,521 |
|
Exports |
||||
|
Bangladesh |
21,584 |
184 |
323,022 |
2,975 |
|
The Mainland of China |
2,881,217 |
22,032 |
12,958,570 |
106,785 |
|
Indonesia |
3,408 |
41 |
19,393 |
297 |
|
Japan |
-- |
- |
7,669 |
170 |
|
North Korea |
10,211 |
120 |
39,562 |
526 |
|
Macao, China |
22,766 |
178 |
168,769 |
1,477 |
|
Malaysia |
22,491 |
170 |
83,896 |
603 |
External Trade
Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures
have been rounded to the nearest final digit after summing up the constituent
trade figures.
Attachment
Lippo Centre, 89 Queensway, Admiralty, Hong Kong
Lippo Centre, Tower II, 89 Queensway,
Admiralty, Hong Kong
Lippo Centre, Tower II, 89 Queensway,
Admiralty, Hong Kong
Room 803, 8/F., Lippo Centre, Tower II, 89
Queensway, Admiralty, Hong Kong
Room 803, 8/F., Lippo Centre, Tower II, 89
Queensway, Admiralty, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.