MIRA
INFORM REPORT
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Report No. : |
349099 |
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Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
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Name : |
TRANS EXIM LIMITED |
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Formerly Known As : |
J.S.M. IMPEX LIMITED |
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Registered Office : |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.09.1993 |
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Com. Reg. No.: |
449526 |
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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 detailed activity but the same is not available from any sources] |
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No. of Employees : |
Not Available |
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 : |
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 – March 31, 2015
|
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 |
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 12.5% 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: |
TRANS EXIM LIMITED |
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Supplied Name: |
TRANS EXIM LIMITED. |
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Supplied Address: |
SUITE 2203, 22/FL, OFFICE TOWER LANGHAM PLACE 8ARGYLE STREET,
MONGKOKKOWLOON, HONGKONG. |
Special Note
We cannot obtain any operation information or valid contact information of
the subject in Hong Kong or any other source according to the supplied name and
address.
We visited the supplied address, but did not find the subject on it. The
relevant staff on the address said they did not know the subject and declined
to disclose other information.
Up to the date of reporting, we failed to get in touch with subject. If
you can supply further information such as current telephone number, we’d like
to have the investigation resumed.
We found subject’s registration information as follows for reference.
Company
Identification Details
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Registered Name: |
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Registered Address: |
Suite 2203, 22/F, Office Tower, Langham
Place, 8 Argyle Street, Mongkok, Kowloon, Hong Kong |
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Date of Registration: |
1993-9-16 |
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Registered Number: |
449526 |
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Business Registration No.: |
17391800 |
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Paid-up Capital: |
HKD 1,000,000 (USD 129,000) = 1,000,000 Shares@ HKD 1 (As of 2015.09, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Principal Activities: |
N/A |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-9-16 |
Notes: Since we didn’t
find subject, the principal activities and staff number are not available from
any sources.
History
Subject was incorporated on 1993-9-16 with the registered number 449526
as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Effective Date |
Name |
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1994-11-10 |
Trans Exim Limited |
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1993-9-16 |
J.S.M. Impex limited |
Corporate Structure
Subject did not register any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Shareholders
|
Subscription
Shares |
Proportion of
Investment (%) |
|
|
Arvind Kashinath Jadhav |
600,000 |
60% |
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Zenith Chetan Kumar Shah |
400,000 |
40% |
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Total |
1,000,000 |
100% |
Major Shareholder
Information:
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1 |
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Name: |
Arvind Kashinath Jadhav |
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Address: |
Flat G, 6/F., Tower 23A, Laguna Verde, Hung Hom, Kowloon, Hong Kong |
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2 |
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Name: |
Zenith Chetan Kumar Shah |
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Address: |
Bo-an Nan Road, 2078, Shengong Hao Yau, Hao Shan Ghe 13-C, Lohwu
District, Shenzhen China 518008. |
Management
Information
Core Management
Detailed
Information of Directors:
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1 |
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Name: |
Arvind Kashinath Jadhav |
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Address: |
Flat G, 6/F., Tower 23A, Laguna Verde, Hung Hom, Kowloon, Hong Kong |
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Position: |
Director |
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ID Number: |
R848407(3) |
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2 |
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Name: |
Pankaj Vithal Raut |
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Address: |
9/34, Vishakha Apts, Adarsh Nagar, New Link Rd., Jogeshwari (w),
Mumbai, India |
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Position: |
Director |
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Passport Number: |
Z2326481 |
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Issuing Country: |
India |
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3 |
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Name: |
VMC Secretaries Limited |
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Address: |
Room 1617-18, Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong
Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
750831 |
Operation
Information
Offices & Factories
We cannot confirm subject current trading address at this stage.
Operation Information
From public files, we cannot obtain any operation information of the
subject. Since we did not get in touch with the subject, the information is not
available from any other source.
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.
Since we didn't get in touch with subject, the relevant information is
not available from any sources.
Bankers
Since we didn't get in touch with subject, the bank information is not
available from any sources.
Public
Mortgage Record
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1 |
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Company Name: |
Trans Exim Limited |
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Instrument of Creating Mortgage: |
Mortgage |
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Date of Creating Mortgage: |
2000-2-29 |
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Amount Secured: |
In consideration of ABN AMRO Bank N. V. agreeing (subject to the company,
the mortagage is to secure all moneys which may from time to time be owing by
the company to ABN AMRO Bank N. V.) |
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Name of Mortgagee: |
ABN AMRO Bank N. V. |
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Address of Mortgagee: |
Kingdom Of The Netherlands And Having A Branch Office At 3rd Floor,
Edinburgh Tower, No. 15 Queen’s Road Central, Hong Kong |
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Description of Property Mortgaged: |
24/19, 328th parts or shares of and in sectior A of Kowloon Marine Lot
No. 10 (Unit 1724 On The 17th Floor Of Star House, Kowloon, Hong Kong) |
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2 |
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Company Name: |
Trans Exim Limited |
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Instrument of Creating Mortgage: |
Memorandum of Charge – Borrower Charging |
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Date of Creating Mortgage: |
1997-4-30 |
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Amount Secured: |
Banking facilities to the Company |
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Name of Mortgagee: |
Republic National Bank of New York |
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Address of Mortgagee: |
6th Floor, Jardine Hcuse, 1 Connaught Place, Central, Hong Kong |
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Description of Property Mortgaged: |
All stocks, shares, debentures, bonds, mutual funds, certificates of deposit,
certificates and securities of any other king whatsoever owned by the Company
(the “securities”) which are now or may at any time hereafter be in the
Bank’s agents or representatives or the Bank’s holding company or any of the
Bank’s subsidiary or associated companies or lodged with, or transferred to,
the Bank or the Bank’s nominees or registered in the Bank their names by the
Company or on the Company’s behalf by the Company or by others in their name,
or for the account of, the Company whether for safe custody, collection,
negotiation, security or for any other specific purpose or generally and
whether in Hong Kong or elsewhere, and all dividends, distributions and
interest thereon whether or capital or income and all stocks, shares, rights,
moneys or other property distributed, paid, accrulng or offered at any time
by way of dividend, redemption, bonus, rights, preference, option, warrant or
otherwise on, to, or in respect of, or in substitution for, any of the
Securities; and All the gold either purchased on the Company’s behalf by the Bank or
which may now or at any time hereafter be deposited by the Company in the
Company’s Gold Deposit Account(s) with the Bank or otherwise deposited with
the Bank’s holding company or any of the Bank’s subsidiary or associated
companies; and All other sums from time to time standing to the credit of the
Company’s accounts with the Bank (including, but not limited to, all new
accounts that may arise out of any change in the Bank’s accounting systems,
internal administration, computerization of the Bank’s operations or
otherwise), whether at the Bank’s branches in Hong Kong or elsewhere or at
any of the branches of the Bank’s holding company or subsidiary or associated
companies and whether such accounts are held by the Company alone or jointly
with any other person, and whether in addition to or by way of renewal of or
replacement for any amount or amounts previously deposited by the Company7
with the Bank or otherwise, together in each case with an interest from time
to time accruling in respect thereof. |
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 to the supplied address, and didn’t find
subject at this location.
Suite 2203, 22/FL., Office Tower Langham Place, 8 Argyle Street, Mong
Kok, Kowloon, Hongkong
Suite 2203, 22/FL., Office Tower Langham Place, 8 Argyle Street, Mong
Kok, Kowloon, Hongkong
Suite 2203, 22/FL., Office Tower Langham Place, 8 Argyle Street, Mong
Kok, Kowloon, Hongkong
Suite 2203, 22/FL., Office Tower Langham Place, 8 Argyle Street, Mong
Kok, Kowloon, Hongkong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.68 |
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|
1 |
Rs.101.02 |
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Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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Report Prepared
by : |
NIT |
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.