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MIRA INFORM REPORT
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Report No. : |
483377 |
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Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
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Name : |
PRIME EXIM LIMITED |
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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 : |
13.02.2007 |
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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, other copper materials |
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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
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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Litigation : |
--- |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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 aided a more rapid initial recovery 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 9.4% of total system deposits in Hong Kong by the end of 2015. 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. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. 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 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.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 4.4% in 2014, but slowed to 2.9% in 2015. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities.
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Source
: CIA |
Company
name and address
PRIME EXIM
LIMITED
ADDRESS:
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]
BUSINESS
REGISTRATION NUMBER
37684899
COMPANY
FILE NUMBER
1109910
DATE
OF INCORPORATION
13th
February, 2007.
ISSUED
SHARE CAPITAL
HK$1.00
SHAREHOLDER
(As per registry dated 13-02-2017)
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Name |
Occupation |
No. of
share |
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Elyas
Abdul Kadar ANTULE |
Merchant |
1 = |
DIRECTOR
(As per registry dated 30-11-2017)
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Name (Nationality) |
Address |
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Elyas
Abdul Kadar ANTULE |
Room
No. 202, Gate No. 1, Building No. 16, Fu Cheng Xiao Qu, 382 Zhong Zhe Road,
Yiwu, Zhejiang 322000, China. |
SECRETARY
(As per registry dated 13-02-2017)
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Name |
Address |
Co. No. |
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ACEL
Corporate Services Ltd. |
Room
801, 8/F., Seaview Commercial Building, 21-24 Connaught Road West, Hong Kong. |
0835894 |
GENERAL
Prime Exim Limited 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 e-mail address of the subject is primeeximltd@163.com.
The subject has no employees in Hong Kong. It claims to be a member of the ‘Prime
Group’.
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, other copper materials, etc.
“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, etc.
The subject also trades in the following materials:-
Cu-DHP: normally used for mould tubes section size below 180 x 180
mm and round tubes below Dia.150 mm.
Cu-Ag: normally used for mould tube section size above 180 x 180
mm 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).
According to the subject, the above-mentioned 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. Prima markets are
India and the other Asian countries, etc.
One of its India customers is Ratnakar Ispat India Pvt. Ltd.
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 about ten years and
ten 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.48 |
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1 |
INR 86.41 |
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Euro |
1 |
INR 76.54 |
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HKD |
1 |
INR 8.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.