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Report Date : |
08.11.2013 |
IDENTIFICATION DETAILS
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Name : |
TEXASIA
TRADING (HK) LTD. |
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Registered Office : |
c/o Prima Secretaries Ltd., |
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Country : |
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Date of Incorporation : |
05.10.2007 |
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Com. Reg. No.: |
38505696 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Not Available |
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No. of Employees : |
No employees in [It is to be noted that the company does not have its own operating
office in |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in |
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Payment Behaviour : |
Unknown |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
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 levies
excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong Kong by the end of 2012,
an increase of 59% from the previous 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 34.9
million in 2012, 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 2012 mainland Chinese companies constituted about
46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for
about 57.4% 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, and less than 2% in 2012.
Credit expansion and tight housing supply conditions caused Hong Kong property
prices to rise rapidly and inflation to rise 4.1% in 2012. 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 |
TEXASIA TRADING (HK) LTD.
c/o Prima Secretaries Ltd.
Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road
Central, Hong Kong.
TEXASIA TRADING (HK)
LTD.
Registered
Office:-
c/o Prima Secretaries Ltd.
Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road
Central, Hong Kong.
Tel : 852-2376 3611
Fax : 852-2736 5115
Associated Company
Ishan International
1/F., 199 Jor Bagh, New Delhi 110003, India.
Tel : 91-11-2638 9140
Fax : 91-11-2461 1081
38505696
1173229
5th October, 2007.
Nominal Share Capital: HK$1,000,000.00
(Divided into 100,000 shares of HK$10.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 05-10-2012)
|
Name |
|
No. of share |
|
Martin James Colin GRAHAM |
|
1,000 ==== |
(As per registry dated 05-10-2012)
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Name (Nationality) |
Address |
|
Martin James Colin GRAHAM |
Swallow Barn, Kirkby Lonsdale Road, Newton, Carnforth LA6 2NZ,
Lancashire, UK. |
(As per registry dated 05-10-2012)
|
Name |
Address |
Co. No. |
|
Prima Secretaries Ltd. |
Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road
Central, Hong Kong. |
0569406 |
The subject was incorporated on 5th October, 2007 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Oracle
Investments (HK) Ltd., name changed to the present style on 8th December, 2010.
Formerly the subject was located at c/o Prima Secretaries Ltd., Suite
1402, 14/F., 1 Duddell Street, Central, Hong Kong, moved to the present address
as Prima moved to the present address in November 2009.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Texasia Trading (HK) Ltd. is a private limited company.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Suite 605, 6/F., China Insurance Group Building, 141
Des Voeux Road Central, Hong Kong known as Prima Secretaries Ltd. [Prima] which
is handling its correspondences and documents.
Prima is also the corporate secretary of the subject. Prima’s phone number is 852-2376 3611 and fax
number is 852-2736 5115.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
1,000 ordinary share of HK$10.00 which is owned by Mr. Martin James Colin
Graham who is a UK passport holder. He
is also the only director of the subject.
Currently, Graham is residing in Lancashire, the United Kingdom.
The subject increased its issued share capital from HK$10.00 to
HK$10,000.00 in March 2012.
It is likely that Graham is operating a firm in India known as Ishan
International. Ishan International is a
manufacturer and exporter of leather and leather garments like leather jackets,
leather long coats, etc. Products are
exported to the United Kingdom, other European countries, North America, etc.
Graham’s old registered address located at “1/F., 199 Jor Bagh, New
Delhi 110003, India” is also the operating address of Ishan International in
India. It is also 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 has been banking with The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. Business in
Hong Kong is not very active although its history is over six years.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.57 |
|
|
1 |
Rs.100.63 |
|
Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIA |
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 |
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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 |
|
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 |
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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 |
|
<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.