MIRA
INFORM REPORT
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Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
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Name : |
TRANSPEED TRADING LTD. |
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Registered Office : |
Room 201, 2/F., Mega Trade Centre, 1 Mei Wan Street, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.07.2009 |
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Com. Reg. No.: |
50887036 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Fabrics, other textile products, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 and address
TRANSPEED TRADING
LTD.
ADDRESS:
Room 201, 2/F., Mega Trade Centre, 1 Mei Wan Street, Tsuen Wan,
New Territories, Hong Kong.
PHONE: 2413 8887
FAX: 2492 9322
MANAGEMENT
Managing Director: Mr. Cheng Tai
Shing
SUMMARY
Incorporated on: 6th July, 2009.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
2. (Including associate)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 201, 2/F., Mega Trade Centre, 1 Mei Wan Street, Tsuen Wan,
New Territories, Hong Kong.
Associated Company:-
Transpeed International Ltd., Hong Kong.
(Same address)
BUSINESS REGISTRATION NUMBER
50887036
COMPANY FILE NUMBER
1350636
MANAGEMENT
Managing Director: Mr. Cheng Tai
Shing
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS
(As per registry dated 06-07-2011)
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Name |
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No. of shares |
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CHENG Tai Shing |
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5,000 |
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LAM Po Mei, May |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 06-07-2011)
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Name (Nationality) |
Address |
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CHENG Tai Shing |
Flat A, 17/F., Block 3, Vision City, 1 Yeung Uk Road, Tsuen Wan, New
Territories, Hong Kong. |
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LAM Po Mei, May |
Flat A, 17/F., Block 3, Vision City, 1 Yeung Uk Road, Tsuen Wan, New
Territories, Hong Kong. |
SECRETARY
CHENG Tai Shing (As per registry
dated 06-07-2011)
HISTORY
The subject was incorporated on 6th July, 2009 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: Fabrics, other textile
products, etc.
Employees: 2.
(Including associate)
Commodities Imported: India, Europe, other Asian countries, etc.
Markets: China, other Asian countries, etc.
Annual Turnover: Not reported.
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$10,000.00
Mortgage or Charge:-
Date of Assignment
of DC Proceeds: 13-07-2011
Amount: All
loans or other advances made or to be made by the Bank to the Customer against
documents submitted under a Documentary Credit, all monies and liabilities in
any currency owing by the Customer to the Bank at any time, whether separately
or jointly, actually or contingently, present or future, interest on all loans
and advances and such monies and all expenses of the Bank in perfecting or
enforcing the Assignment
Property: By
way of assignment or agreement to assign in each case as beneficial owner. All monies in any currency representing
proceeds payable or to be paid to the Customer under the Documentary Credits,
all the Customer’s right, title and interest in the said Documentary Credits
and the benefit of all powers and remedies for enforcing the Documentary
Credits
Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Too early to
offer an opinion.
Condition: Business is under development.
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
Having issued 10,000 ordinary shares of HK$1.00 each, Transpeed Trading
Ltd. is equally owned by a couple, Mr. Cheng Tai Shing and Ms. Lam Po Mei,
May. Cheng and Lam are also director of
the subject.
The subject has had an associated company Transpeed International Ltd.
[TIL], also a Hong Kong-registered firm located at the same operating address.
Incorporated on 22nd July, 2009 and also owned by the couple, TIL is
engaged in the same lines of business as the subject.
The subject is a textile product and fabric trader. Commodities are imported from India and
European countries. Prime markets are
China and the other Asian countries. The
subject also trades in textile products sourced from China and exports to
Europe, other Asian countries, Australia, etc.
The subject has had several business partners in Southern China. Business is still under development.
The subject’s business is chiefly administered by the couple. History in Hong Kong is just over two
years and two months.
On the whole, since the history of the subject is short in Hong Kong,
consider it good for normal business engagements on L/C basis for the time
being.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.92 |
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|
1 |
Rs.76.52 |
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Euro |
1 |
Rs.66.64 |
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.