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Report No. : |
322429 |
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Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
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Name : |
COSMOSS VU LTD. |
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Registered Office : |
Unit A, 7/F., Success Commercial Building, 245-251 Hennessy Road, Wanchai |
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Country : |
Hong Kong
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Date of Incorporation : |
18.08.2005 |
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Com. Reg. No.: |
35938274 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter, Wholesaler, Buying Agent and Commission Agent of
Building Materials, Chemicals, Fertilizers, Sports Goods, Toys, Stationery,
Office Equipment, Consumer Goods, Air-Conditioners. |
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No. of Employees : |
6 [Including Subsidiary] |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
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 |
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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy protests
that began in late September probably will have some adverse effects on
economic growth, particularly retail sales.
|
Source
: CIA |
COSMOSS VU LTD.
ADDRESS: Unit A, 7/F., Success Commercial
Building, 245-251 Hennessy Road, Wanchai, Hong Kong.
PHONE: 852-3741 0357, 3741 0358
FAX: 852-3741 0356
E-MAIL: subbu@cosmossvu.com.hk
MANAGEMENT:
Managing Director: Mr.
Balkrishnan Subramanyan
Incorporated on: 18th August, 2005.
Organization: Private Limited Company.
Issued Share Capital: HK$5,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6. (Including subsidiary)
Main Dealing Banker: Industrial
& Commercial Bank of China (Asia) Ltd., Hong Kong.
Banking Relation: Satisfactory.
COSMOSS VU
LTD.
Registered Head
Office:-
Unit A, 7/F., Success Commercial Building, 245-251 Hennessy Road,
Wanchai, Hong Kong.
Subsidiaries/Business
Names: (Same address)
Central Avenue Traders, Hong Kong.
Sheetal Enterprises, Hong Kong.
Vision United Traders, Hong Kong.
Associated
Company:-
Zibo Saibo Import & Export Co. Ltd., China.
35938274
0990436
Managing Director: Mr.
Balkrishnan Subramanyan
(Mobile: 852-9809 5476)
HK$5,000,000.00
(As per registry dated 18-08-2014)
|
Name |
|
No. of shares |
|
Balkrishnan SUBRAMANYAN |
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5,000,000 ======= |
(As per registry dated 18-08-2014)
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Name (Nationality) |
Address |
|
Balkrishnan SUBRAMANYAN |
11/F., Block 38, Baguio Villa, 555 Victoria Road, Hong Kong. |
Balkrishnan SUBRAMANYAN (As per
registry dated 18-08-2014)
The subject was incorporated on 18th August, 2005 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: Buying
Agent, Commission Agent, Importer, Exporter and Wholesaler.
Lines: Building
Materials, Chemicals, Fertilizers, Sports Goods, Toys, Stationery, Office
Equipment,
Consumer Goods, Air-Conditioners.
Employees: 6. (Including subsidiary)
Commodities Imported: India, China
and other Asian countries.
Markets: Asian
countries, Europe, Africa, etc.
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, T/T, D/P.
MEMBERSHIP: The
Indian Chamber of Commerce Hong Kong, Hong Kong.
Issued Share Capital: HK$5,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Shanghai Commercial Bank Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Good.
Having issued 5 million ordinary shares of HK$1.00 each and incorporated
in August 2005, Cosmoss Vu Ltd. is wholly owned by Mr. Balkrishnan
Subramanyan. Subramanyan is the only
director of the subject. He is a
Hong Kong ID Card holder and has got the right to reside in Hong Kong
permanently.
Subramanyan can be reached at his Hong Kong mobile phone number 852‑9809
5476.
The subject has
had the following three business names:-
These business names may be regarded as subsidiaries of the
subject. They are located at the same
address.
The subject has emerged as a one stop resource provider for import
requirements from China and the Asia Pacific region. It works closely with its customers and
vendors as partners. Its prime markets
are Nigeria, Ghana, Cotonou, South Africa, Equatorial Guinea, France, Germany,
the United Kingdom, the United Arab Emirates, Oman, Qatar, Yemen and India.
The subject has had a technical team stationing in China for monitoring,
supervising and controlling its shipments.
According to the subject, it is known as ‘one of the reliable exporters
of quality products’ from China.
All the products are sourced from reliable manufacturers.
The subject has two divisions: chemical division and home appliances
division. It is dealing in the following
chemicals: Acetonitrile, Aceton, Acrylamide, Acrylic Acid, Caustic Soda,
Ammonium Chloride, Epichlorohydrin, Di Methyl Formamide, Formic Acid, Liquid
Glucose, Insoluble Saccharin, Sodium Gluconate, Phosphoric Acid, Monosodium
Glutamate, Maleic Anhydride, Sodium Saccharin, Sodium Sulphate Anhydrous,
Sodium Sulphide Flakes, Sodium Tripolyphosphate, Titanium Dioxide Rutile,
Toluen.
Most of the chemicals are imported from China, Europe and India. Its home appliances division is trading in
the following commodities: Windows Air Conditioners, Chest Freezers, Insular Freezers,
Chest Freezer with Back Condensers, Floor Standing Air Conditioners, Split Air
Conditioners, Showcase Freezers, Vertical Freezers and Upright Bottle Coolers,
Wall Fans, Stand Fans, Steam Irons, Rice Cookers, Washing Machines, Upright
Bottle Coolers, Water Dispensers, small home electric appliances.
The subject also trades in other products such as sports goods, toys and
games, household products (non-electric), stationery and office equipment.
The subject has had an associated company in Zibo City, Shandong
Province, China known as Zibo Saibo Import & Export Co. Ltd. [Zibo
Saibo]. The contact person of Zibo Saibo
is Ms. Wendy Chen who is a Chinese.
The subject has got premises which is located at the Unit A-1, 11/F. of
the same building. The premises have
been mortgaged to Industrial & Commercial Bank of China (Asia) Ltd.,
Hong Kong, for a consideration of HK$1.7 million.
As the history of the subject is over nine years and eight months in
Hong Kong, on the whole, consider it good for normal business engagements.
|
Date |
Description of
Instrument |
Mortgagee |
|
10-06-2011 |
Memorandum |
Bank of Baroda, Hong Kong Branch. |
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17-01-2013 |
Mortgage |
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
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|
1 |
Rs.100.30 |
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Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
TPT |
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.