MIRA
INFORM REPORT
|
Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
TRANS EXIM LTD. |
|
|
|
|
Registered Office : |
Rm 1724A, 17/F, Star House, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
16-9-1993 |
|
|
|
|
Com. Reg. No.: |
449526 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trading of diamond. |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
name & address
TRANS EXIM LTD.
RM 1724A, 17/F, STAR HOUSE,
TEL : 852 28773191
FAX : 852 28014925
EXECUTIVE SUMMARY
INCORPORATION DATE :
16-9-1993
REGISTRATION NO. :
449526
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : PATWA AMIT HARESH KUMAR (DIRECTOR)
STAFF STRENGTH :
6
AUTHORIZED CAPITAL :
HK$1M = 1M SHARES @ HK$1.-
PAID-UP
CAPITAL : HK$1M
BUSINESS LINE :
TRADING OF DIAMOND
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81600 = USD1 AS OF 2007-4-24
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
SC is a private limited company registered under incorporation file no. 449526
on 16-9-1993.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 16-9-2006) Number
of shares held
- Patwa Amit Haresh Kumar 600,000
- Shah Zenit Chetan Kumar 400,000
------------
1,000,000
=======
Directors (as at 25-5-2006)
- Patwa Amit Haresh Kumar / P924993(5)
- Shah Zenit Chetan Kumar / A3530008
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Our current search revealed certain material change or amendment of SC
has been recorded within the last 2 years & noted as follows:
Shares transfers :
Date No. of shares Transferor(s) Transferee(s)
2-6-2006 10,000 Mohamed Thariq Mohamed Zubair Shah Zenit Chetan Kumar
2-6-2006 100,000 -- ditto -- Patwa
Amit Haresh Kumar
Partial change in SC's directorship as follows:
Name(s) of resigned director(s) Resignation
date
Mohamed Thariq Mohamed Zubair 25-5-2006
Name(s) of newly appointed director(s) Appointment
date
Shah Zenit Chetan Kumar 25-5-2006
Total number of employees : 6.
Location : Maintaining
its office at the heading business address which occupies a gross area of 1,600
square feet at a commercial & shopping building in a commercial &
shopping district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
Property ownership : Current land search indicates the ownership details
of the captioned premises as follows:
- Owner(s) : Diamart Ltd.
- Date of purchase & consideration : 26-7-2002 / HK$2.75M
- Date of mortgage & secured amount : 4-3-2005 / ANS
- Mortgagee : Industrial & Commercial Bank of
The said premises was formerly purchased by SC at a consideration of
$3.39M on 29-2-2000.
Patwa Amit Haresh Kumar, director:
- In his mid 40's
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat C, 6/F, Comfort Bldg.,
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
Shah Zenit Chetan Kumar, director:
- He is by Indian nationality
Currently residing in PR China & only visits
Registered residential address:
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
records stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 3 Obtained scores : 58 (see explanatory notes
below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors
which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
Upon a current contact, Mr. Ymgb, SC's administrator, declined
forwarding any financial information on the ground that it is the company's
policy not releasing any data to a third party without the benefit of knowing
the identity of the inquiring party.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 16-9-2006 was nil.
Banking relations are maintained principally with:
- HSBC
- ABN AMRO Bank Ltd.
This section will contain the civil litigations & winding-up
petitions filed against SC for the last 6 years (as stored in our database),
and the mortgage/charge records filed by SC for the last 2 years. In
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : None filed within the last 2 years as per
our current search.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1996, 1997, 2000
Year(s) in which mortgage satisfaction record(s) are filed: 2002
Overall payment appraisal :
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment records and our debt collection record concerning SC.
Trade payment
experience : Owing to the nature of its
business, SC is not an active seeker of local commercial
credit since
merchandise/materials are imported. Its expenses in the form of accruals and
servicing are reportedly
met in prompt
manner.
Delinquent
payment record : None in our database.
Debt
collection record : No overdue
amount owed by SC was placed to us for collection within the last 6 years.
Business categories :
SC is engaged in trading of diamond.
Items available include polished & cut diamond.
Principal purchases :
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries :
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : PR China & SE Asia
Selling
terms : L/C & T/T
SC is
not known to have any subsidiary at present.
SC is considered small-sized in its line locally with acceptable base to
meet its normal dealings.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)