|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
TEXPO INTERNATIONAL LTD |
|
|
|
|
Registered Office : |
Room 702, 7/F., Car Po Commercial Building, 18 Lyndhurst Terrace,
Central |
|
|
|
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Country : |
Hong Kong |
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|
|
|
Date of Incorporation : |
05.08.1986 |
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|
|
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Com. Reg. No.: |
10454819 |
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|
|
|
Legal Form : |
Private Limited Company |
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|
|
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Line of Business : |
Importer, Exporter and Wholesaler of Light industrial products, chemicals, accessories, etc. |
|
|
|
|
No. of Employees : |
6 |
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 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TEXPO INTERNATIONAL
LTD.
Room 702, 7/F.,
Car Po Commercial Building, 18 Lyndhurst Terrace, Central, Hong Kong.
PHONE: 2524 4948, 2869 9986
FAX: 2840 0060
E-MAIL: texpo@netvigator.com
mail@texpointernational.com
Managing
Director: Mr. Varsha Narotamdas Avlani
Incorporated on: 5th August, 1986.
Organization: Private Limited Company.
Capital: Nominal: HK$3,000,000.00
Issued: HK$2,500,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: US$60~65 million (Including associates)
Employees: 6. (Including affiliates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
TEXPO
INTERNATIONAL LTD.
Registered
Head Office:-
Room 702, 7/F.,
Car Po Commercial Building, 18 Lyndhurst Terrace, Central, Hong Kong.
Holding
Company:-
Agile Industries
Ltd., British Virgin Islands.
Associated
Companies:-
Aegis Plus Ltd., Hong Kong. [Trading as Aegis Safety Products]
(Same address)
Birgo (H.K.) Ltd.,
Hong Kong.
Texpo
International, Hong Kong. [Ceased
business]
Texpo Unique Ltd.,
Hong Kong. [Dissolved]
10454819
0172873
Managing
Director: Mr. Varsha Narotamdas Avlani
Nominal Share
Capital: HK$3,000,000.00 (Divided into 30,000 shares of HK$100.00 each)
Issued Share
Capital: HK$2,500,000.00
(As
per registry dated 05-08-2011)
|
Name |
|
No.
of shares |
|
Agile Industries Ltd. 263 Main Street, P.O. Box 2196, Road Town, Tortola, British Virgin
Islands. |
|
25,000 ===== |
(As
per registry dated 05-08-2011)
|
Name (Nationality) |
Address |
|
Devang AVLANI |
Room 702, 7/F., Car Po Commercial
Building, 18 Lyndhurst Terrace, Central, Hong Kong. |
|
Dipak
Kumar Jamnadas AVLANI |
11058 Building A, Wonder Plaza, Jinkeqiao
Road, Keqiao, Shaoxing, Zhejiang 312030, China. |
|
Varsha
Narotamdas AVLANI |
Flat A, 13/F., Bellevue Heights, 8 Tai
Hang Drive, Jardine’s Lookout, Hong Kong. |
(As
per registry dated 05-08-2011)
|
Name |
Address |
Co.
No. |
|
Louis
Lai Co. Secretarial Services Ltd. |
9/F., Surson Commercial Building, 140-142 Austin Road, Tsimshatsui,
Kowloon, Hong Kong. |
0686503 |
The
subject was incorporated on 5th August, 1986 as a private limited liability
company under the Hong Kong Companies Ordinance.
It
was originally registered under the name of Sonica Trading Ltd., name changed
to the present style on 1st September, 2004.
Formerly
the subject was located at 5/F., 57 Wyndham Street, Central, Hong Kong,
moved to the present address in March 2011.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Light industrial products, chemicals, accessories, etc.
Employees: 6. (Including affiliates)
Commodities Imported: Asian countries, Europe, etc.
Markets: India, other Asian countries, etc.
Annual Turnover: US$60~65 million (Including associates)
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
The Indian Chamber
of Commerce Hong Kong, Hong Kong.
Nominal Share Capital: HK$3,000,000.00 (Divided into 30,000 shares of HK$100.00 each)
Issued Share Capital: HK$2,500,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active and satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Having
issued 25,000 ordinary shares of HK$100.00 each, Texpo International Ltd. is
wholly owned by Agile Industries Ltd. which is a BVI‑registered firm.
The
subject moved to the present address in March 2011.
The
Managing Director of the subject Mr. Varsha Narotamdas Avlani is an
Indian. He is a Hong Kong ID Card holder
and has got the right to reside in Hong Kong permanently.
The
subject has got a number of affiliated companies located at its operating
address. One of its affiliates was Texpo
International (bearing BR No. 19092828) which has ceased business since 30th
May, 2006. Another affiliate Texpo
Unique Ltd. was dissolved by deregistration on 2nd June, 2006.
Currently,
the subject is trading in the following commodities and offering clients with
the following services:-
|
Product/Service |
Product/Service
Remarks |
|
Yarns,
Piecegoods and Textiles |
|
|
Piecegoods –
Silk |
From
China (Importer) To
India (Exporter) |
|
Food and
Beverage |
|
|
Sauce and
Seasoning |
|
|
Spice |
From
China (Importer) To
India (Exporter) |
|
Raw Materials |
|
|
Textile Fibres
(including Wool) |
|
|
Silk, Raw |
From
China, Korea (Importer) From
Korea, China, to India (Exporter) |
|
Lighting
Products |
|
|
Bulbs |
Include
fuse from China, Taiwan (Importer) Include
fuse from Taiwan, China, to India (Exporter) |
|
Bulb – Energy
Saving |
Energy
saving lamps from China (Importer) Energy
saving lamps from China, to India (Exporter) |
|
Consumer
Electronics (Miscellaneous) |
|
|
Security
Products |
Security
and sureillance product from China, Korea and Japan (Importer) Security
and sureillance product from China, Korea and Japan, to India (Exporter) |
|
Spectacles,
Spectacle Parts and Accessories |
|
|
Spectacle Frame |
|
|
Spectacle Frame
– Plastic |
From
Korea, Japan, Germany and Italy, to India |
|
Spectacle Frame
– Metal |
From
Korea, Japan, Germany and Italy (Importer) From
Korea, Japan, Germany and Italy, to India (Exporter) |
|
Spectacles |
|
|
Sunglasses |
From
Korea, Japan, Germany, Italy (Importer) From
Korea, Japan, Germany, Italy, to India (Exporter) |
|
Chemicals
(including Plastic Materials) |
|
|
Plastic
Materials (including Resins and Sheet) |
LDPE/HDPE
from China (Importer) LDPE/HDPE,
to India (Exporter) |
|
Textile
Chemicals |
|
|
Dyeing, Tanning
and Colouring Materials |
Pigment
for textile from China (Importer) Pigment
for textile, to India (Exporter) |
|
Pharmaceutical
Chemicals |
Include
pigment for Pharmaceutical (Exporter) Include
pigment for pharmaceutical (Importer) |
|
Food Chemicals |
Citric
Acid and its derivatives from China and Korea (Importer) Citric
Acid and its derivatives from China and Korea, to India (Exporter) |
Most
of the subject’s commodities are sourced from China, South Korea, Japan,
Germany, Italy, etc. Prime market is
India. Other markets are Southeast Asia,
the Middle East, Western Europe, etc.
The subject also trades in large quantities of pharmaceuticals and
chemicals.
According
to the subject in recent years, it has been emphasising in work gloves,
industrial gloves, workwear, uniforms, coveralls, helmets, safety products,
personal protective equipments, etc.
The
subject has got affiliated companies in India.
It also has had an affiliated factory in China employing about 400
persons.
Overall
business of the subject is active.
Annual sales turnover ranges from US$60 to 65 million. Business is rather profitable.
On the whole,
consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.77 |
|
|
1 |
Rs.86.74 |
|
Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.