MIRA
INFORM REPORT
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Report Date : |
07.11.2011 |
IDENTIFICATION DETAILS
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Name : |
EAST ASIA LTD. |
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Registered Office : |
Room 1505, 15/F., Hollywood Centre, 233 Hollywood Road, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
31.10.2003 |
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Com. Reg. No.: |
34137831 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Toys, frozen food, building materials, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Hong Kong
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A2 |
A2 |
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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 |
Company name and address
EAST ASIA
LTD.
ADDRESS: Room 1505, 15/F., Hollywood
Centre, 233 Hollywood Road, Sheung Wan, Hong Kong.
PHONE: 2850 8985
FAX: 2850 8185
E-MAIL: sales@eastasisltd.com
cerki@eastasisltd.com
MANAGEMENT
Managing Director: Mr. Rene
Contreras Escobar
SUMMARY
Incorporated on: 31st
October, 2003.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 1505, 15/F., Hollywood Centre, 233 Hollywood Road, Sheung Wan,
Hong Kong.
Associated Company:-
Henson (Far East) Ltd., Hong Kong.
[Dissolved]
BUSINESS REGISTRATION NUMBER
34137831
COMPANY FILE NUMBER
0868406
MANAGEMENT
Managing Director: Mr. Rene
Contreras Escobar
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS
(As per registry dated 31-10-2010)
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Name |
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No. of shares |
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Rene CONTRERAS ESCOBAR |
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5,000 |
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Ali GHORBANI-VARZIDEH |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 31-10-2010)
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Name (Nationality) |
Address |
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Rene CONTRERAS ESCOBAR |
Apartment 26 C & D, Cliffview Mansions, 21-23 Conduit Road, Hong
Kong. |
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Ali GHORBANI-VARZIDEH |
Flat A, 9/F., Tower 125, 11 Po Yan Street, Sheung Wan, Hong Kong. |
SECRETARY
(As per registry dated 31-10-2010)
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Name |
Address |
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NG Yuk Shun, Julie |
Apartment 26 C & D, Cliffview Mansions, 21-23 Conduit Road, Hong
Kong. |
HISTORY
The subject was incorporated on 31st October, 2003 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Toys,
frozen food, building materials, etc.
Employees: 3.
Commodities Imported: China, Europe, other Asian countries, etc.
Markets: Asian
countries, Europe, North America, Central & South America, Middle East,
Australia, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge:-
Date of Security Over Deposits with the Bank (Limited
Company – Under Seal): 16-11-2010
Amount: To secure all monies in respect of
banking facilities
Property: Initially HK$500,000.00 or equivalent
and all monies whether now or hereafter standing to the credit of the Company’s
deposit with the Bank under deposit No. 015-781784 and whatever currency it may
subsequently be denominated in, any renewal of such deposit and the interest
thereon together with any further moneys in any deposit account with the Bank
at any of its offices
Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
GENERAL
Having issued 10,000 ordinary shares of
HK$1.00 each, East Asia Ltd. is equally owned by Mr. Rene Contreras Escobar and
Mr. Rene Contreras Escobar. Being Hong
Kong ID Card holders, they have got the right to reside in Hong Kong
permanently. The two shareholders are
also directors of the subject.
The subject had an associated company Henson (Far East) Ltd., also a
Hong Kong-registered firm, located at its operating address. However, this firm has been dissolved since
9th April, 2009.
The subject is a buying office and offers clients with all kinds of
logistic services. It is trading in the
following products:-
·
Toys, Others (Plastic Toy Animal)
·
Toy Bouncing Ball
·
Fresh Food
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Frozen Food
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All kinds of Footwear
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Ceramics
·
Building Material — Stone/Marble/Granite/Artificial
Stone
It seems that the subject’s core business is a marble, ceramics and
footwear trader. Its products have been
exported to worldwide countries.
According to the subject, it has been awarded the following contracts:-
·
Supplying 20,000 sq.m. of granite for the
construction of the new airport of Uruguay
·
Supplying 17,000 sq.m. of granite for the
construction of the new airport of Armenia
·
Supplying 7,000 sq.m. of granite for the
construction of the new airport of Argentina
The subject also offers clients with “Quality Control and Inspection”
services. It is also experienced in
sourcing commodities from China. History
in Hong Kong is over eight years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.08 |
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|
1 |
Rs.78.65 |
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Euro |
1 |
Rs.67.79 |
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.