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Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
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Name : |
PRIME EXIM LTD. |
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Registered Office : |
c/o ACEL
Corporate Services Ltd. Room 801, 8/F., Seaview Commercial Building, 21-24 Connaught Road West |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.02.2007 |
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Com. Reg. No.: |
37684899 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
THE SUBJECT IS TRADING IN “JSM” COPPER MOULD TUBES USED IN
STEEL BILLET CONTINUOUS CASTING MACHINES. THE SUBJECT ALSO TRADES IN THE FOLLOWING MATERIALS:- ·
CU-DHP: NORMALLY USED FOR MOULD TUBES SECTION SIZE BELOW
180X180MM AND ROUND TUBES BELOW DIA.150 MM. ·
CU-AG: NORMALLY USED FOR MOULD TUBE SECTION SIZE ABOVE 180 X 180MM
AND ROUND TUBES ABOVE DIA.150 MM. ·
CU-CR-ZR: NORMALLY USED FOR BEAM BLANK MOULD TUBES. ·
HIGH PHOSPHORUS DEOXIDIZED COPPER CU-DHP (CU-0.03P). ·
SILVER-BEARING COPPER CU-AG (CU-0.1AG). ·
CU-CR-ZR (CU-0.6CR-0.15ZR). |
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No. of Employees : |
No employees in Hong Kong NOTE: It is to be noted that
the company does not have its own operating office in Hong Kong. The company
uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong
Kong. Such companies are registered in Hong Kong just to tax benefit purpose
and due to the strict privacy laws prevailing in the country. In such cases,
the companies are not required to have any employees in Hong Kong nor do have
an office there. |
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 Hong Kong |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 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 |
PRIME
EXIM LTD.
Registered
Office:-
c/o ACEL Corporate
Services Ltd.
Room 801, 8/F.,
Seaview Commercial Building, 21-24 Connaught Road West, Hong Kong.
[Tel: 852-2815
5712; Fax: 852-2815 5937]
China
Representative Office:-
Prime Exim Ltd.
Yiwu Representative Office
Shipin Zhuan Ye Street, 302/16/1, 322000 Yiwu City, Zhejiang Province,
China. [Tel: 86-579-8559 8095; Fax: 86-579-8559 8097]
37684899
1109910
13th February,
2007.
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1.00
(As
per registry dated 13-02-2014)
|
Name |
Occupation |
No.
of share |
|
Elyas Abdul Kadar ANTULE |
Merchant |
1 = |
(As
per registry dated 13-02-2014)
|
Name (Nationality) |
Address |
|
Elyas Abdul
Kadar ANTULE |
71-73, Chang Chun 6th Street, 302 Yiwu,
Zhejiang, China. |
(As
per registry dated 13-02-2014)
|
Name |
Address |
Co.
No. |
|
ACEL
Corporate Services Ltd. |
Room 801, 8/F., Seaview Commercial Building, 21-24 Connaught Road
West, Hong Kong. |
0835894 |
Prime
Exim Ltd. was incorporated on 13th February, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
Having
issued just one ordinary share of HK$1.00, the subject is wholly owned by Mr.
Elyas Abdul Kadar Antule who is an India merchant. He is an India passport holder and does not
have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Room
801, 8/F., Seaview Commercial Building, 21-24 Connaught Road West, Hong Kong
known as ACEL Corporate Services Ltd. which is handling its correspondences and
documents. This company is also the
corporate secretary of the subject.
The
subject has no employees in Hong Kong.
The
subject has had a main office in Yiwu City, Zhejiang Province, China which is
chiefly operated by Elyas Abdul Kadar Antule.
The
subject is trading in “JSM” Copper Mould Tubes used in Steel Billet Continuous
Casting Machines.
“JSM” Copper Mould Tubes
are reliable in the critical area of its application, assuring high performance
and are trusted by its customers. The
materials are available in the following shapes: Square Tubes, Rectangular Tubes, Round Tubes,
length usually ranges from 700 mm to 1,000 mm.
The subject also trades in
the following materials:-
1.
Cu-DHP: normally used for mould
tubes section size below 180x180mm and round tubes below Dia.150 mm.
2.
Cu-Ag: normally used for mould
tube section size above 180 x 180mm and round tubes above Dia.150 mm.
3.
Cu-Cr-Zr: Normally used for beam
blank mould tubes.
4.
High Phosphorus Deoxidized Copper
Cu-DHP (Cu-0.03P).
5.
Silver-Bearing Copper Cu-Ag
(Cu-0.1Ag).
6.
Cu-Cr-Zr (Cu-0.6Cr-0.15Zr).
These materials have
different levels of hardness and thermal conductivities.
The
subject is also the largest suppliers of quality copper mould tubes. Commodities are chiefly sourced from China
suppliers.
The
business of the China office is also handled by Elyas Abdul Kadar Antule.
The
subject’s business in Hong Kong is not active.
History in Hong Kong is over seven years and seven months.
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.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
|
1 |
Rs.99.32 |
|
Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
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.