MIRA INFORM
REPORT
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Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
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Name : |
TRANS
EXIM LTD. |
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Registered Office : |
c/o Diamart Ltd., 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 of 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 : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Hong Kong |
a2 |
a2 |
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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 |
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. Arvind Kashinath Jadhav
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 affiliates)
Main Dealing Banker: The Royal Bank of Scotland 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 Holdings Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
17391800
COMPANY FILE NUMBER
0449526
MANAGEMENT
Managing Director: Mr. Arvind Kashinath Jadhav
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 16-09-2010)
|
Name |
|
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 16-09-2010)
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Name (Nationality) |
Address |
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Arvind Kashinath JADHAV |
Flat G, 6/F., Tower 23A, Laguna Verde, Hunghom, Kowloon, Hong Kong. |
|
Zenit Chetan Kumar SHAH |
2078, Bo’an Nan Road, Shengong Hao Yau, Hao Shan Ghe 13-C, Lohwu District, Shenzhen, China 518008. |
SECRETARY
(As per registry dated 16-09-2010)
|
Name |
Address |
Co.
No. |
|
VMC Secretaries Ltd. |
Room 1617-1618, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong. |
0750831 |
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 affiliates)
Commodities Imported: Europe, India, Southeast Asia, etc.
Markets: India, Asian countries, Europe, 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.
[Now known as The Royal Bank of Scotland N.V.]
Profit or Loss: Making a very small profit in the past years.
Condition: Business is active and steady.
Facilities: Making rather active use of general banking facilities.
Payment: Met obligations as required.
Commercial Morality: Satisfactory.
Bankers: The Royal Bank of Scotland N.V., Hong Kong Branch.
Standing: Normal.
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, Shah is one of the directors of the subject. The other director of the subject Mr. Arvind Kashinath Jadhav was appointed in September 2010.
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 where he has had business concern.
The subject is sharing the office with Diamart Ltd. [Diamart] which is a Hong Kong-registered firm. Diamart has got an affiliated firm Digico Holdings 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. Hitesh Laltibhai Mehta and Mr. Arvind Kashinath Jadhav. The first is also an Indian. This firm was established on 11th March, 1988.
The subject is a diamond, jewellery and precious stone trader. Rough diamonds, polished, cut and loose diamonds are imported from Europe, India, Southeast Asia, etc. The subject is carrying the following semi-precious stones: aquamarine, pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, garnet, rose quartz, etc.
The subject 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 over seventeen years and seven months.
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
|
|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.66.04 |
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.