MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRANS EXIM
LTD. |
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Registered Office : |
Room 1724A, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.09.1993. |
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Com. Reg. No.: |
17391800 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter all kinds of Diamonds, Jewellery Products, Precious Stones, etc |
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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
TRANS
EXIM LTD.
ADDRESS
c/o Diamart Ltd.
Room 1724A, 17/F.,
Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2877 3191
FAX: 2801 4925
E-MAIL: nishit@diamart.diminco.com
Note
The company is not
located at your given address:
4/F., Room C,
Minden Apartment,
No. 1 Minden Row,
Hong Kong.
MANAGEMENT
Managing
Director: Mr. Amit Haresh Kumar Patwa
SUMMARY
Incorporated on: 16th September, 1993.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Jewellery Trader.
Employees: 8. (Including associates)
Main Dealing Banker: ABN AMRO Bank N.V., Hong Kong Branch.
Banking Relation: Fair.
ADDRESS
Registered Head Office:-
c/o Diamart Ltd.
Room 1724A, 17/F.,
Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
Associated Companies:-
Diamart Ltd., Hong
Kong. (Same address)
Digico Holding
Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
17391800
COMPANY FILE NUMBER
449526
MANAGEMENT
Managing
Director: Mr. Amit Haresh Kumar Patwa
CAPITAL
Nominal Share
Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital:
HK$1,000,000.00
SHAREHOLDERS
(As per registry dated 16-09-2007)
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Name |
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No. of shares |
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Amit Haresh
Kumar PATWA |
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600,000 |
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Zenit Chetan Kumar SHAH |
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400,000 |
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–––––––– |
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Total: |
1,000,000 ======= |
DIRECTORS
(As per registry dated 16-09-2007)
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Name (Nationality) |
Address |
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Amit Haresh
Kumar PATWA |
Flat C, 6/F., Comfort Building, 88 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong. |
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Zenit Chetan
Kumar SHAH |
Bo’an Nan Road, 2078, Shengong Hao Yau,
Hao Shan Ghe 13-C, Lohwu District, Shenzhen, China 518008. |
SECRETARY
(As per registry dated 16-09-2007)
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Name |
Address |
Co. No. |
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VMC
Secretaries Ltd. |
Room 1617-1618, 16/F., Star House, 3 Salisbury Road, Tsimshatsui,
Kowloon, Hong Kong. |
750831 |
HISTORY
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 J.S.M. Impex Ltd., name changed to the present
style on 10th November, 1994.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds, jewellery products, precious stones, etc.
Employees: 8. (Including associates)
Commodities Imported: Europe, India, Southeast Asia, etc.
Markets: India, Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Keeping a balance account in the past years.
Condition: Business is fairly active.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers: ABN AMRO Bank N.V., Hong Kong Branch.
Standing: Small.
GENERAL
Having issued 1 million ordinary shares of HK$1.00 each, Trans Exim Ltd. is jointly owned by Mr. Amit Haresh Kumar Patwa, holding 60%, and Mr. Zenit Chetan Kumar Shan, holding 40%. Being Indian, the two shareholders are also directors of the subject. Mr. Patwa has been in Hong Kong for a very long time. Most of the time, Mr. Shan, an India passport holder, is residing in Shenzhen Special Economic Zone, China.
The subject is not located at your given address “4/F., Room C, Minden Apartment, No. 1 Minden Row, Hong Kong”. It is likely that this address is the residential address of one of its directors.
The subject is sharing the office with Diamart Ltd. [Diamart] which is a Hong Kong-registered firm. Diamart has got an associated firm Digico Holding Ltd. [Digico] which is also a Hong Kong-registered firm located at the same address. Diamart and Digico are also trading in diamonds but owned by different Indian.
The subject is a diamond, jewellery and precious stone trader. Raw materials are imported from Europe, India, Southeast Asia, etc. It is one of the significant jewellery firms in Hong Kong that imports cut and polished colour gemstones from India.
It seems that the subject has got an affiliated factory in Shenzhen Special Economic Zone, China. Raw materials are processed in the China factory while finished products are exported to India, some Asian countries and Europe. In 2005, the subject got an award from The Gem & Jewellery Export Promotion Council of India.
Mr. Shah is
responsible for acquiring products in China while Mr. Patwa is responsible for
the subject’s business in Hong Kong.
The business of
the subject is fairly active.
On the whole,
consider the subject good for small business engagements.
COURT CASES: None
per our.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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24-10-1996 |
Instrument: Charge
on All Deposits to secure Obligations of the Chargor Property: A deposit of US$200,000 Mortgagee: ABN
AMRO Bank N.V., Hong Kong Branch. |
Tos ecure all moneys obligations and liabilities |
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30-04-1997 |
Instrument: Memorandum
of Charge – Borrower Charging Property: (i) All stocks, shares, debentures, bonds,
mutual funds, certificates of deposit, certificates and securities of any
other kind whatsoever owned by the Company; (ii) All the gold either
purchased on the Company’s behalf by the Bank or which may now or at any time
hereafter be deposited by the Company in the Company’s Gold Deposit Account
with the Bank; (iii) All other sums from time to time standing to the credit
of the Company’s accounts with the Bank Mortgagee: Republic
National Bank of New York, Hong Kong Branch. [Renamed to Republic Bank of New York and further to HSBC Bank
USA] |
Banking facilities |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)