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Report No. : |
341917 |
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Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
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Name : |
CENTRALIS TRADERS |
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Registered Office : |
Room 802, 8/F., Dina House, Ruttonjee Centre, 11 Duddell Street, Central |
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Country : |
Hong Kong
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Date of Incorporation : |
15.08.1997 |
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Com. Reg. No.: |
15296521-001-02 |
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Legal Form : |
Sole Ownership |
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Line of Business : |
Importer, Exporter and Wholesaler of Foodstuffs, electric fans, audio/video consumer electronics, hardware, newsprint paper, housewares, leather jackets and skirts, chemicals, agro-chemicals, pharmaceuticals, dye intermediates, and sundries. |
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No. of Employees : |
8. (Including Sole Owner) |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% of
total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese
companies constituted about 50% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China
signed a new agreement on achieving basic liberalization of trade in services
in Guangdong Province under the Closer Economic Partnership Agreement, adopted
in 2003 to forge closer ties between Hong Kong and the mainland. The new
measures, effective from March 2015, cover a negative list and a most-favored
treatment provision, and will improve access to the mainland's service sector
for Hong Kong-based companies.
|
Source
: CIA |
CENTRALIS TRADERS
ADDRESS: Room 802, 8/F., Dina
House, Ruttonjee Centre, 11 Duddell Street, Central, Hong Kong.
PHONE: 852-2523
8089, 6202 3369 (Mobile)
FAX: 852-2810 7899
E-MAIL: doult@netvigator.com
chembiz@netvigator.com
MANAGEMENT:
Manager: Mr. Hasaram Gobindram
Melwani
Establishment: 15th August, 1997.
Organization: Sole Ownership.
Capital: Not disclosed.
Business Category: Importer,
Exporter and Wholesaler.
Employees: 8.
(Including Sole Owner)
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
CENTRALIS TRADERS
Head Office:-
Room 802, 8/F., Dina House, Ruttonjee Centre, 11 Duddell Street, Central,
Hong Kong.
Parent Company:-
Doultsons Ltd., Hong Kong. (See
attachment)
Ultimate Parent
Company:-
Mural Holdings Ltd.
P.O. Box 71, Craigmuir Chambers, Road Town, Tortola,
British Virgin Islands.
Sister Company:-
Maruto Trading Company, Hong Kong.
[BR No. 15296521-002-02] (Same
address)
15296521-001-02
Manager: Mr. Hasaram Gobindram
Melwani
Contact Person: Mr. Neel Subbu
Doultsons Ltd., Hong Kong. (See
attachment)
HISTORY:
The subject was established on 15th August, 1997 as a sole ownership
firm with Doultsons Ltd. as the proprietor under the Hong Kong Business
Registration Regulations.
At the very beginning, the subject was located at Room 402, 4/F., Sing
Pao Centre, 8 Queens Road Central, Hong Kong, moved to Room 1303, 13/F.,
Ruttonjee House, Ruttonjee Centre, 11 Duddell Street, Central, Hong Kong in
March 1998, and further moved to the present address in January 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Foodstuffs,
electric fans, audio/video consumer electronics, hardware, newsprint paper,
housewares, leather jackets and skirts,
chemicals, agro-chemicals, pharmaceuticals, dye intermediates, and sundries.
Employees: 8. (Including Sole Owner)
Commodities Imported: Imported from
Europe, China, Taiwan, South Korea.
Markets: North
America, Africa.
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, D/P and T/T.
MEMBERSHIP: The Indian Chamber of Commerce Hong
Kong, Hong Kong. (Parent company)
Capital: Not
disclosed.
Profit & Loss: Making
a small profit every year.
Condition: Keeping
in an active and satisfactory manner.
Facilities: Making
active use of general banking facilities.
Payment: Met obligations as contracted.
Commercial Morality: Satisfactory.
Banker: The Hong Kong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
Centralis Traders is operated by Doultsons Ltd. [Doultsons] which is
also located at the operating address of the subject.
The subject is engaged in the same line of business and carrying the
same commodities as Doultsons.
Currently, the subject is trading in the following commodities: Food
Ingredients, Industrial Chemicals, & Fertilisers.
The subject markets its products under its own Longman Brand.
Longman Food Ingredients -- mono sodium glutamate, salt, sodium
saccharin, aspartame, liquid glucose, sodium bicarbonate, ammonium bicarbonate,
dry instant yeast & baking powder.
Longman Industrial Chemicals -- titanium dioxide, soda ash light &
dense, sodium nitrite & nitrate, sodium hydrosulphite, melamine, caustic
soda, calcium chloride, & calcium carbide.
Longman Fertilizers -- urea, potassium chloride, potassium nitrate,
diammonium phosphate.
The products of Longman are
exported to more than 20 countries and districts in Europe, the Middle East,
Southeast Asia, East & West Africa and India.
Doultsons is a private limited company wholly-owned by Mural Holdings
Ltd., a BVI-registered firm. Its
Managing Director, Mr. Hasaram Gobindram Melwani, is an Indian who has been in
Hong Kong for a very long time. He
is a Hong Kong ID card holder.
In fact, Doultsons is wholly-owned by the Melwani family.
Doultsons is a well established trading firm in Hong Kong. It is registered in Hong Kong but is also a
China trader.
The subject and its parent have a rather high credit rating with leading
banks and has a reputation for being “trustworthy, reliable and honourable” in
their business activities.
According to the subject, its annual sales turnover (including
Doultsons) is over US$100 million.
Overall business is satisfactory.
Making a profit every year.
The contact person Mr. Neel Subbu is also an Indian.
On the whole, since the history of the subject is over eighteen years
and a month, consider it good for normal business engagements.
DOULTSONS LTD.
(Trading as CENTRALIS TRADERS and MARUTO TRADING COMPANY)
Room 802, 8/F., Dina House, Ruttonjee Centre, 11 Duddell Street,
Central, Hong Kong.
15296521-000-02
0343150
11th February, 1992.
HK$8,000,000.00
(As per registry dated 11-02-2015)
|
Name |
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No. of shares |
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Mural Holdings Ltd. P.O. Box 71, Craigmuir Chambers, Road Town, Tortola,
British Virgin Islands. |
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7,999,999 |
|
Hasaram Gobindram MELWANI |
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1 |
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–––––––– |
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Total: |
8,000,000 ======= |
(As per registry dated 11-02-2015)
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Name (Nationality) |
Address |
|
Naresh Hassaram MELWANI |
Flat 1, 21/F., Block C, Villa Monte Rosa, 41A Stubbs Road, Hong Kong. |
|
Hasaram Gobindram MELWANI |
Flat 1, 21/F., Block C, Villa Monte Rosa, 41A Stubbs Road, Hong Kong. |
Naresh Hassaram MELWANI (As per registry dated 11-02-2015)
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.97 |
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|
1 |
Rs.101.19 |
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Euro |
1 |
Rs.73.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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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.