MIRA INFORM REPORT

Report Date :

14.06.2011

IDENTIFICATION DETAILS

Name :	TRANS EXIM LTD.
Registered Office :	c/o Diamart Ltd., Room 1724A, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	16.09.1993
Com. Reg. No.:	17391800
Legal Form :	Private Limited Company
Line of Business :	Importer and Exporter of all kinds of diamonds, jewellery products, precious stones, etc.

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 :	No Complaints
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^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Hong Kong	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

TRANS EXIM LTD.

company 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

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: 7. (Including affiliates)

Main Dealing Banker: ABN AMRO Bank N.V., Hong Kong Branch.

Banking Relation: Satisfactory.

company ADDRESS

Registered Head Office:-

c/o Diamart Ltd.

Room 1724A, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Companies:- (Same address)

4C’s Diamonds Distributors, Hong Kong.

Diamart Ltd., Hong Kong.

Digico Holding Ltd., Hong Kong.

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 16-09-2009)

Name		No. of shares
Amit Haresh Kumar PATWA		600,000
Zenit Chetan Kumar SHAH		400,000
		––––––––
	Total:	1,000,000 =======

DIRECTORS

(As per registry dated 16-09-2009)

Name (Nationality)	Address
Amit Haresh Kumar PATWA	Flat C, 6/F., Comfort Building, 88 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
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 16-09-2009)

Name	Address	Co. No.
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: 7. (Including affiliates)

Commodities Imported: Europe, India, Southeast Asia, etc.

Markets: India, Asian countries, etc.

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C, T/T, D/P, etc.

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:-

Date of Charge on All Deposits to secure Obligations of the Chargor:
24-10-1996

Amount: To secure all moneys obligations and liabilities

Property: A deposit of US$200,000

Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch.

Profit & Loss: Making a very small profit in the past years.

Condition: Business is steady.

Facilities: Making rather active use of general banking facilities.

Payment: Met obligations 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% interests; and Mr. Zenit Chetan Kumar Shah, holding 40%. Being Indian, the two shareholders are also directors of the subject. Patwa has been in Hong Kong for a very long time. Most of the time, Shah, an India passport holder, is residing in Shenzhen Special Economic Zone, China.

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 has got another associated firm 4C’s Diamonds Distributors located at the same operating address. 4C’s Diamonds Distributors is a partnership jointly owned by Mr. Amit Haresh Kumar Patwa and Mr. Hitesh Laltibhai Mehta. The latter is also an Indian. This firm was established on 11th March, 1988.

The subject is a diamond, jewellery and precious stone trader. Rough diamonds and loose diamonds 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.

The subject has got an affiliated factory in Shenzhen Special Economic Zone, China. Rough diamonds are processed in the China factory while finished products are exported to Japan, some Asian countries and Europe. The business in China is handled by Shah.

In 2005, the subject got an award from The Gem & Jewellery Export Promotion Council of India.

Shah is responsible for acquiring products in China while Patwa is responsible for the subject’s business in Hong Kong.

The subject’s another affiliated company Digico is also a significant diamond trader. This firm has had branch companies in the United States, Belgium, India, Namibia, the United Arab Emirates, China, Thailand, Japan.

Digico is the pioneer of branded jewellery in India and has several well established brands in its arsenal to tap the continuously growing branded jewellery market in India and the rest of the world. The list includes well‑know and well established brands such as “Nakshatra”, “Gili”, “Asmi”, “Sangini”, “D’Damas”, “Mi Amor” and “Giantti”. Currently, Digico Group is operating 27 retail outlets under the name “Giantti” across China.

The subject and its affiliated or associated companies acquire jewellery products from the same factory in China.

The business of the subject is rather steady. Regular suppliers and customers have been maintained for a long time.

The history of the subject in Hong Kong is about seventeen years.

On the whole, consider it good for normal business engagements.

REMARKS:

Court Cases: None per our.

Property information of affiliate:-

Property Location: Room 1724 on 17/F., Star House, 3 Salisbury Road, Kowloon, Hong Kong.

Owner: Diamart Ltd.

Date of Purchase: n.a.

Purchased Price: n.a.

Incumbrances:-

Date of Mortgage	Amount Consideration	Mortgagee	Nature
04-03-2005	-	Belgian Bank, Hong Kong Branch. [Business was taken over by Industrial & Commercial Bank of China (Asia) Ltd.]	Mortgage to secure general banking facilities

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.87
UK Pound	1	Rs.72.83
Euro	1	Rs.64.37

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

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%)

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