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Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
R.T.
EXPORTS LTD. |
|
|
|
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Registered Office : |
Unit B, 1/F., The Centre Mark II, 305-313 Queen’s Road Central |
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|
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Country : |
Hong Kong |
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Date of Incorporation : |
14.04.2000 |
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Com. Reg. No.: |
30864214 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Wholesaler and Re-exporter of Electronic products, electric appliances, toys, and sundry products. |
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No. of Employees : |
06 employees |
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 |
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Status : |
Satisfactory |
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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, 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 |
Hong Kong - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
|
Source : CIA |
R.T. EXPORTS
LTD.
Unit B, 1/F., The Centre Mark II, 305-313 Queen’s Road Central, Hong Kong.
PHONE: 2316 2815, 2368 9751
FAX: 2316 7375
E-MAIL: rtexp@netvigator.com
Managing Director: Mr. Rajesh Buxani
Incorporated on: 14th April, 2000.
Organization: Private Limited Company.
Capital: Nominal: HK$100,000.00
Issued: HK$100,000.00
Business Category: Importer, Wholesaler and Re-exporter.
Employees: 6.
Main Dealing Banker: HBZ Finance Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit B, 1/F., The Centre Mark II, 305-313 Queen’s Road Central, Hong Kong.
Associated
Companies:
Allied Asia Industrial Ltd., Hong Kong.
Golden Mile Import & Export Co., Hong Kong.
30864214
0712758
Managing Director: Mr. Rajesh Buxani
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000.00
(As per registry
dated 14-04-2012)
|
Name |
|
No. of shares |
|
Zunaid Osman TAYOB |
|
49,000 |
|
Rajesh BUXANI |
|
50,999 |
|
Padma Murli BUXANI |
|
1 |
|
|
|
––––––– |
|
|
Total: |
100,000 ====== |
(As per registry
dated 14-04-2012)
|
Name (Nationality) |
Address |
|
Rajesh BUXANI |
Flat D, 11/F., Block 2, Winner Court, 18 Hospital Road, Mid-Level, Hong Kong. |
|
Padma Murli BUXANI |
Flat D, 11/F., Block 2, Winner Court, 18 Hospital Road, Mid-Level, Hong Kong. |
(As per registry
dated 14-04-2012)
|
Name |
Address |
Co.
No. |
|
Multi-Chain Ltd. |
Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong. |
0209214 |
The subject was incorporated on 14th April, 2000 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit A, 14/F., Mangan Building, 18‑20 Cameron Road, Tsimshatsui, Kowloon, Hong Kong, moved to Room 1506, 15/F., The Centre Mark, 287-299 Queen’s Road Central, Hong Kong in 2002, and further to the present address in October 2009.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Wholesaler and Re-exporter.
Lines: Electronic products, electric appliances, toys, and sundry products.
Employees: 6.
Commodities Imported: Mainly imported from China, other Asian countries, etc.
Markets: India, Middle East, South Africa, Central & South America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, etc.
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: HBZ Finance Ltd., Hong Kong.
Standing: Normal.
Having issued 100,000 ordinary shares of HK$1.00 each, R.T. Exports Ltd. is a private limited company almost equally owned by Mr. Zunaid Osman Tayob and Mr. Rajesh Buxani. The former is residing in South Africa while the latter is an Indian who has been in Hong Kong for a very long time. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He and his wife Mrs. Padma Murli Buxani are the directors of the subject.
Incorporated in April 2000, the subject is trading in sundry products, according to the subject’s spokesman. To our knowledge, the subject imports commodities such as consumer electronic products, toys, electric appliances, bathroom accessories, and metal hardware from China and re-exports to India, the Middle East, Central & South America and South Africa.
According to the subject, it carries many kinds of commodities. Business is rather active.
Currently, Mr. Tayob is in South Africa handling certain business concerns. The subject’s business in Hong Kong is administered by Mr. and Mrs. Buxani. Mr. Buxani can be reached at his mobile phone number 852-6079 3679.
Besides operating the subject, Buxani is operating another Hong Kong-registered firm known as Golden Mile Import & Export Co. which is located at the operating address of the subject. This firm is trading household accessories, items and garden products.
Since the history of the subject is over twelve years and five months, on the whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
26-05-2000 |
Instrument: Lien and Set-off Agreement Property: Fixed deposits of DFN2050529 for US$99,980 due on 28-08-2000 Mortgagee: HBZ Finance Ltd., Hong Kong. |
Credit financial accommodation and facilities |
|
01-06-2001 |
Instrument: Lien and Set-off Agreement Property: Fixed deposits of DFN3060596 for US$177,321 due on 03-09-2001 Mortgagee: HBZ Finance Ltd., Hong Kong. |
Credit financial accommodation and facilities |
|
10-07-2007 |
Instrument: Lien and Set-Off Agreement Property: Fixed
Deposit DFN9071075 10-07-2007 US$90,126.47 10-10-2007 Mortgagee: HBZ Finance Ltd., Hong Kong. |
Loans, credit financial accommodation and facilities |
|
01-11-2010 |
Instrument: Mortgage Property: 1/100th parts or shares of and in Inland Lot No. 180A, Inland Lot No. 180B, Inland Lot No. 180C, Inland Lot No. 180D, Inland Lot No. 191, Inland Lot No. 229 and Section B of Inland Lot No. 195C (Office B on 1/F. of Centre Mark II, 305‑313 Queen’s Road Central, Hong Kong.) Mortgagee: HBZ Finance Ltd., Hong Kong. |
To secure all moneys in respect of general credit facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
UK Pound |
1 |
Rs.86.44 |
|
Euro |
1 |
Rs.68.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.