MIRA INFORM REPORT
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Report No. : |
333466 |
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Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
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Name : |
TRANSCORP INDUSTRIES LIMITED |
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Registered Office : |
Flat/Rm 13, 5/F, 11-19 Lee Shing Mansion, Wai Ching St. M Yau Ma Tei, Kowloon |
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Country : |
Hong kong |
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Date of Incorporation : |
01.03.2011 |
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Com. Reg. No.: |
58015742 |
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Legal Form : |
Private Limited Liability Company |
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line of business : |
Not Available (Note: We Tried To Confirm Obtain The Details Activity But The Same Is Not Available From Any Source.) |
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No. of Employees : |
Not Available 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 : |
Offshore Company |
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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 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
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 12.5% of
total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese
companies constituted about 50% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China
signed a new agreement on achieving basic liberalization of trade in services
in Guangdong Province under the Closer Economic Partnership Agreement, adopted
in 2003 to forge closer ties between Hong Kong and the mainland. The new
measures, effective from March 2015, cover a negative list and a most-favored
treatment provision, and will improve access to the mainland's service sector
for Hong Kong-based companies.
|
Source
: CIA |
Contact
Points
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Company Name: |
Transcorp Industries Limited |
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Supplied Name: |
TRANSCORP INDUSTRIES LTD |
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Supplied Address: |
SUITE 516, 5/F, EAST OCEAN CENTRE, 98 GRANVILLE ROAD, TSIM SHA TSUI
EAST, KOWLOON, HONGKONG |
Credit
Summary
|
Credit Opinion: |
Since we consider
subject as an offshore company, thus we did not give credit rating at
present. |
Special
Note
We cannot find subject’s any operation information or valid contact information in Hong Kong through public files according to the supplied name.
We made an on-site visit to the supplied address as above. A company called “P & P Corporate Consulting Limited” located at the address. A relevant staff based on the address introduced that her company is engaged in providing registered and accounting service. But she declined to disclose any information about subject.
As subject’s registered address is that of a corporate secretary (Sanling Consultants & Associates Limited), based on subject’s registered files and our investigation, we consider subject as an offshore company.
We found subject’s registered files from local registry, supplying as following for reference.
Company
Identification Details
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Registered Name: |
|
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Registered Address: |
Flat/Rm 13, 5/F,
11-19 Lee Shing Mansion, Wai Ching St.M Yau Ma Tei, Kowloon, Hong Kong |
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Date of Registration: |
2011-3-1 |
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Registered Number: |
1566793 |
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Business Registration No.: |
58015742 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD
1 (As of 2015.02, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-3-1 |
History
Subject was incorporated on 2011-3-1 with the
registered number 1566793 as Private Limited Liability Company in Hong Kong.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
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|
Gupta Rashmi Kant |
10,000 |
100% |
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Total |
10,000 |
100% |
Major Shareholder Information:
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Name: |
Gupta Rashmi Kant |
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Address: |
80-I. B. R. S Nagar Dt. Ludhiana India |
Management
Information
Core Management
Detailed Information of Directors:
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1 |
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Name: |
Shah Narendrakumar Punamchand |
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Address: |
Opp Somnath Society Hathuran Road Tarsadi
Tal Mangrol Kosamba, R S Dist Surat 3941230 Gujarat India |
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Position: |
Director |
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Passport Number: |
J1255347 |
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Issuing Country: |
India |
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Date of Appointment: |
2014-7-8 |
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2 |
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Name: |
Sanling Consultants & Associates Limited |
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Address: |
Room 904 Cheong K. Comm. Bldg, 84-86 Des
Voeux Road Central Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
316677 |
Former Directors:
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1 |
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Name: |
Guha Suhrid |
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Address: |
181 Santoshpur East Road Kolkata-700075 WS
India |
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Position: |
Director |
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Passport Number: |
J6111671 |
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Issuing Country: |
India |
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Date of Appointment: |
2014-5-29 |
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2014-7-8 |
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2 |
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Name: |
Gupta Rashmi Kant |
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Address: |
80-I. B. R. S Nagar Dt. Ludhiana India |
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Position: |
Director |
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Passport Number: |
E3621832 |
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Issuing Country: |
India |
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Date of Resignation: |
2014-5-29 |
Operation
Information
Subject does not have business entity in Hong
Kong.
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 does not have business entity in Hong
Kong, thus we cannot obtain the relevant information.
Public
Mortgage Record
No mortgage record of subject was found.
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
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High Court Action: |
Clear |
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High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration
Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Attachment
We made an on-site visit the supplied address as above and found a company called P & P Corporate Consulting Limited located at the address.
East Ocean Center,
98 Granville Road, Tsim Sha Tsui, East Kowloon, Hong Kong
Room 516, East
Ocean Center, 98 Granville Road, Tsim Sha Tsui, East Kowloon, Hong Kong
Room 516, East
Ocean Center, 98 Granville Road, Tsim Sha Tsui, East Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
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|
1 |
Rs.99.10 |
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Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
SDA |
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.