MIRA INFORM REPORT
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Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRIPLE EAGLE EXPRESS LIMITED |
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Formerly Known As : |
TRIPLE EAGLE AGENCY LIMITED |
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Registered Office : |
33/F., EGL Tower, 83 Hung To Road, Kwun Tong,
Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
18.08.1994 |
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Com. Reg. No.: |
20249072 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
PROVIDING LOGISTIC SERVICE |
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No. of Employees : |
Over 20 Employees (Hong Kong Office) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hongkong |
A1 |
A1 |
|
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 |
HONGKONG - 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 has no tariffs on imported goods, and it levies excise duties on
only four commodities, whether imported or produced locally: 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, its continued reliance on foreign
trade and investment leaves it vulnerable to renewed global financial market
volatility or a slowdown in the global economy. 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 12% of total system
deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have
caused Hong Kong property prices to rise rapidly; consumer prices increased by
more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Company
Name and address
|
Company Name (in English): |
Triple Eagle Express Limited |
|
Supplied Name: |
TRIPLE EAGLE EXPRESS LIMITED |
|
Trading Address: |
33/F., EGL
Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong |
|
Supplied Address: |
33/F,83 HUNG TO ROAD, KWUN TONG,
KOWLOON,HONGKONG |
Note: The exact name
and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
33/F., EGL
Tower, 83 Hung To Road, Kwun Tong, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2770-3963 |
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Fax Number: |
+852-2745-9356 |
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Date of Registration: |
1994-8-18 |
|
Registered Number: |
489362 |
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Business Registration No.: |
20249072 |
|
Paid-up Capital: |
HKD 1,000,000 (USD
129,000) = 1,000,000 Shares@ HKD 1 (As of 2014.12, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
Principal Activities: |
Providing logistic service |
|
Staff: |
Over 20 Employees (Hong Kong Office) |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-8-18 |
History
Subject was incorporated on 1994-8-18 with the
registered number 489362 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
1997-4-16 |
Triple Eagle Express Limited |
|
1994-8-18 |
Triple Eagle Agency Limited |
Corporate
Structure
It is introduced that subject has related
companies in Mainland China, while the detail information we cannot obtain from
any sources.
Shareholder
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Triple Eagle (Group) Limited |
1,000,000 |
100% |
|
Total |
1,000,000 |
100% |
Major Shareholder Information:
|
Company Name (in English): |
Triple Eagle (Group) Limited |
|
Address: |
33/F., EGL Tower, 83 Hung To Road, Kwun
Tong, Kowloon, Hong Kong |
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Date of Registration: |
1994-5-3 |
|
Registered Number: |
476792 |
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Business Registration No.: |
18714683 |
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Change of Name |
|
|
Date |
Change |
|
1996-2-13 |
Triple Eagle (Group) Limited |
|
1994-5-3 |
Central Right Limited |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Wai Ming Lai |
|
Address: |
House 8, The Balmoral-Belgravia, 1 Ma Shing
Path, Tai Po, New Territories, Hong Kong |
|
Position: |
Director |
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ID Number: |
E677172(A) |
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2 |
|
|
Name: |
Jaford Accounting and Secretaries Limited |
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Address: |
Rooms 1901-2, Park-in Commercial Centre, 56
Dundas Street, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
170821 |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
33/F., EGL Tower, 83 Hung To Road, Kwun
Tong, Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
33rd Floor, EGL Tower, No.83 Hung To Road,
Kowloon |
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Owners: |
Fully Harvest Development Limited |
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Memorial Number: |
07101201760011 Assignment with plan |
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Date of Instrument: |
2007-9-17 |
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Date of Registration: |
2007-10-12 |
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Consideration Value: |
HKD 40,502,160.00 |
History of
Premises Owners’
|
1 |
|
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Memorial No.: |
08072301960089 |
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Date of Instrument: |
2008-6-30 |
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Date of Registration: |
2008-7-23 |
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Nature: |
Third legal charge |
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In Favor of: |
Chiyu Banking Corporation Limited |
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Consideration: |
All monies |
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2 |
|
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Memorial No.: |
08072301960076 |
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Date of Instrument: |
2008-6-30 |
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Date of Registration: |
2008-7-23 |
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Nature: |
Second legal charge |
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In Favor of: |
Chiyu Banking Corporation Limited |
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Consideration: |
|
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3 |
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Memorial No.: |
07101201760020 |
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Date of Instrument: |
2007-9-17 |
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Date of Registration: |
2007-10-12 |
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Nature: |
Mortgage |
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In Favor of: |
Chiyu Banking Corporation Limited |
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Consideration: |
All monies |
Operation
Information
· Subject is engaged in providing logistic service.
· Subject has the license of NVOCC.
· Subject’s major services include ocean freight service, air freight service, warehouse management, inventory management, order fulfillment, distribution and value-added services.
· Subject’s mainly routes in advantaged include Japanese basic line, Australia port, south-east Asia, Europe and the Mediterranean, etc.
· Subject’s service regions almost cover all over the world.
Settlements
It is introduced that the details of
settlements are to be negotiated.
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the only source from which we can obtain
the information is the subject itself.
Subject’s relevant staff Ms. Lu rejected to
disclose the financial information, from other sources we could not obtain such
information, either.
Bankers
|
Name: |
Hongkong and Shanghai Banking Corporation |
|
004-178-426094-001 |
Public
|
Date: |
2013-12-30 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
043415/13 |
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Claimant: |
Global Alliance Logistics (HK) Ltd (SCTC043415/13) |
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Defendant: |
Triple Eagle Express Ltd |
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Reason: |
Service Charge |
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2 |
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Date: |
2011-08-15 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
026406/11 |
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Claimant: |
Triple Eagle Express Ltd (SCTC026406/11) |
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Defendant: |
Mak Chi Shing |
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Reason: |
Miscellaneous |
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3 |
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Date: |
2010-02-03 |
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Court Name: |
District Court Civil Action |
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Court No.: |
373 |
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Claimant: |
Triple Eagle Express Ltd c/o 33/F, 83 Hung To Road, Kwun Tong, Kln c/o W.H. Chik & Co (a firm) |
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Defendant: |
Top-World Express Co Ltd c/o Flat 10, 16/F, Metro Centre II, Lam Hing
Street, Kowloon Bay, Kln |
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Reason: |
Debt |
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Amount (HKD): |
615,903.70 |
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4 |
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Date: |
2009-11-02 |
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Court Name: |
District Court Civil Action |
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Court No.: |
4677 |
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Claimant: |
Triple Eagle Express Ltd c/o 33/F, 83 Hung To Road, Kwun Tong, Kln c/o W.H. Chik & Co (a firm) |
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Defendant: |
Sunrise International Transport (HK) Co Ltd c/o Room 03, 5/F, Block A, Merit Industrial
Centre, 94 To Kwa Wan Road, Kln |
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Reason: |
Debt |
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Amount (HKD): |
172,938.60 |
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5 |
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Date: |
2009-04-21 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
008190/09 |
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Claimant: |
Triple Eagle Express Ltd (SCTC008190/09) |
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Defendant: |
Top-World Express Co Ltd. |
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Reason: |
Goods Sold and Delivered |
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6 |
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Date: |
2009-03-24 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
004547/09 |
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Claimant: |
Triple Eagle Express Ltd. (SCTC004547/09) |
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Defendant: |
Sunrise International Transport (H. K.)
Company Ltd. |
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Reason: |
Goods Sold and Delivered |
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7 |
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Date: |
2008-08-19 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
030664/08 |
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Claimant: |
Triple Eagle Express Ltd (SCTC030664/08) |
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Defendant: |
Mass Mutual Development Ltd. c/o Room 704, Viking Technology & Business
Centre, No.93 Ta Chuen Ping Street, Kwai Chung, NT |
|
Reason: |
Service Charge |
Mortgage Record
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1 |
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Company Name: |
|
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Instrument of Creating Mortgage: |
Deed of indemnity, charge over deposit(s) and
set-off (the “Deed”) |
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Date of Creating Mortgage: |
2010-2-25 |
|
Amount Secured: |
All moneys in respect of general banking
facilities of whatever nature and in whatever currency or currencies to the
extent of All moneys, Chiyu Banking Corporation Limited (the “Bank”) shall
think fit granted to Triple Eagle Express Limited on such terms, conditions,
manner and form and for so long as the Bank may at its sole discretion think
fit together with interest accrued thereon. |
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Name of Mortgagee: |
Chiyu Banking Corporation Limited |
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Address of Mortgagee: |
78 Des Voeux Road, Central, Hong Kong |
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Description of Property Mortgaged: |
All the Company’s estate, right, title,
claim, benefit and interest to and in the Deposit(s) and all interest from time
to time payable thereon and together with all title deeds or documents
relating thereto. |
|
2 |
|
|
Company Name: |
Triple Eagle Express Limited |
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Instrument of Creating Mortgage: |
Security over deposits |
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Date of Creating Mortgage: |
2006-11-17 |
|
Amount Secured: |
(i) all monies in any currency owing be the
Company to the charge at any time, actually or contingently, in any capacity,
alone or jointly with any other person, (ii) interest on such monies (both
before and after any demand or judgment), to the date on which the charge
receives payment, at the rates payable by the Company or which would have
been payable but for any circumstance which restricts payment and (iii) all
expenses of the charge in perfecting or enforcing this Charge. |
|
Name of Mortgagee: |
The Hongkong and Shanghai Banking
Corporation |
|
Address of Mortgagee: |
No.1 Queen’s Road, Central, Hong Kong |
|
Description of Property Mortgaged: |
The deposit with charge in the amount of HKD
625,000. – under Deposit No.178-426094 whatever currency it may subsequently
be denominated in, any renewal of such deposit and the interest thereon
together with any further monies in any deposit account with the charge at
any of its offices. |
|
3 |
|
|
Company Name: |
Triple Eagle Express Limited |
|
Instrument of Creating Mortgage: |
Deed of indemnity, charge over deposit(s)
and set-off |
|
Date of Creating Mortgage: |
2003-3-25 |
|
Amount Secured: |
To secure all monies |
|
Name of Mortgagee: |
Chiyu Banking Corporation Limited |
|
Address of Mortgagee: |
78 Des Voeux Road, Central, Hong Kong |
|
Description of Property Mortgaged: |
Fixed deposit receipt No.039-735-5-054393-4
for HKD 800,000 dated 2003-3-26 placed with Chiyu Banking Corporation Limited. |
|
4 |
|
|
Company Name: |
Triple Eagle Express Limited |
|
Instrument of Creating Mortgage: |
Deed of indemnity, charge over deposit(s)
and set-off |
|
Date of Creating Mortgage: |
2002-3-22 |
|
Amount Secured: |
To secure all monies |
|
Name of Mortgagee: |
Chiyu Banking Corporation Limited |
|
Address of Mortgagee: |
78 Des Voeux Road, Central, Hong Kong |
|
Description of Property Mortgaged: |
Fixed deposit receipt No.039-735-5-051823-7 for
HKD 400,000 dated 2003-3-18 placed with Chiyu Banking Corporation Limited. |
Special
Note
Interview Details
|
Name |
Ms. Lu |
|
Department: |
Sales Department |
Attachment
EGL Tower, 83 Hung To Road, Kwun Tong,
Kowloon, Hong Kong
33/F., EGL Tower, 83 Hung To Road, Kwun Tong,
Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.