MIRA INFORM REPORT

 

 

Report Date :           

30.05.2011

 

IDENTIFICATION DETAILS

 

Name :

TEAM  TECH  DEVELOP  LTD.

 

 

Registered Office :

c/o Hashmi Secretarial Services Ltd., Room 11, 18/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

23.06.2008

 

 

Com. Reg. No.:

51490404

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

Payment Behaviour :

Usually Correct

 

 

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 31st, 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

 

TEAM TECH  DEVELOP  LTD.

 

 

Company ADDRESS

 

c/o Hashmi Secretarial Services Ltd.

Room 11, 18/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2366 0401

FAX:                 2367 7505

 

 

MANAGEMENT

 

Managing Director:  Mr. Akash Bansal

 

 

SUMMARY

 

Incorporated on:             23rd June, 2008.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$1.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Registered Head Office:-

c/o Hashmi Secretarial Services Ltd.

Room 11, 18/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

51490404

 

 

COMPANY FILE NUMBEr

 

1249881

 

 

MANAGEMENT

 

Managing Director:  Mr. Akash Bansal

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

 

SHAREHOLDER

(As per registry dated 23-06-2010)

 

Name

 

No. of share

Akash BANSAL

 

1

=

 

 

DIRECTOR

(As per registry dated 25-11-2010)

 

Name

(Nationality)

 

Address

Akash BANSAL

K-1/11, Model Town, Delhi-11009, India.

 

 

SECRETARY

(As per registry dated 23-06-2010)

 

Name

Address

Co. No.

Hashmi Secretarial Services Ltd.

Room 11, 18/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong.

0770656

 

 

HISTORY

 

The subject was incorporated on 23rd June, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of diamonds, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, etc.

 

Markets:                       Hong Kong, other Asian countries, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

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

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Team Development Ltd. is wholly-owned by Mr. Akash Bansal who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  Bansal is the only director of the subject.  Currently, he is residing in Delhi, India.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 11, 18/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong known as Hashmi Secretarial Services Ltd. [Hashm] which is handling its correspondences and documents.  Hashm is also the corporate secretary of the subject.

Your given address “1/F., Causeway Bay Plaza 2, 463-483 Lockhart Road, Causeway Bay, Hong Kong” is the operating address of The Hongkong & Shanghai Banking Corp. Ltd., Causeway Bay Branch, Hong Kong.  The subject has been banking with this bank.

The subject has no employees in Hong Kong.  The subject’s lines of business are unknown since the secretarial firm declined to divulge any information about it.  The director of the subject cannot be reached as he is in India.

It is likely that the subject is a diamond trader.  The subject is a diamond importer, exporter and wholesaler.  It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds.

It is likely that the subject has got an associated company in India which is also operated by Bansal.  However, details are unknown.

It is likely that the India firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  The India firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not very active.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

 

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.21

UK Pound

1

Rs.74.31

Euro

1

Rs.64.40

 

 

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.