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Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
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Name : |
EASY
WORLD TRADE LTD. |
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Registered Office : |
Flat G, 9/F., Peninsula Apartment, 16 Mody Road, Tsimshatsui, |
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Country : |
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Date of Incorporation : |
23.03.2012 |
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Com. Reg. No.: |
59550656 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
MOBILE PHONE TRADER OF ALL KINDS OF MOBILE PHONES, ELECTRONIC
PRODUCTS, ETC |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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'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, it again faces a possible slowdown as exports to
the Euro zone and US slump. 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 7.8% of total system deposits in Hong
Kong by the end of 2011, an increase of over 59% since the beginning of the
year. 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 exports 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 28 million in 2011, 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 2011 mainland
Chinese companies constituted about 43% of the firms listed on the Hong Kong
Stock Exchange and accounted for about 56% 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. Growth slowed to
5% in 2011. Credit expansion and tight housing supply conditions caused Hong
Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in
2011. 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
|
Source
: CIA |
EASY WORLD
TRADE LTD.
Flat G, 9/F.,
Peninsula Apartment, 16 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 9831 1046
Managing
Director: Mr. Ahamed Zarook Pirabu Shamu
Naina
Incorporated on: 23rd March, 2012.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Mobile phone trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
EASY WORLD
TRADE LTD.
Registered
Office:-
Flat G, 9/F.,
Peninsula Apartment, 16 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
59550656
1719601
Managing
Director: Mr. Ahamed Zarook Pirabu Shamu
Naina
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
(As per registry dated 23-03-2012)
|
Name |
|
No.
of shares |
|
Ahamed Zarook PIRABU SHAMU NAINA |
|
10,000 ===== |
(As per registry dated 23-03-2012)
|
Name (Nationality) |
Address |
|
Ahamed
Zarook PIRABU SHAMU NAINA |
No. 2, Jinnah Lane Street, Thomas Mount Chennai-60016,
T.N. India. |
(As per registry dated 23-03-2012)
|
Name |
Address |
Co.
No. |
|
Buttar.HK
Ltd. |
1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong. |
0975326 |
The subject was incorporated on 23rd March, 2012 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.
Activities: Mobile phone trader.
Lines: All kinds of mobile phones, electronic products, etc.
Employees: Nil.
Commodities Imported: China and acquired from local suppliers.
Markets: India, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Hang Seng Bank Ltd., Hong Kong.
Standing: Small.
Having
issued 10,000 ordinary shares of HK$1.00 each, Easy World Trade Ltd. is wholly
owned by Mr. Ahamed Zarook Pirabu Shamu Naina who is an Indian. 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 commenced business in March 2012.
The
subject’s telephone number and fax number have not registered with local
telephone company nor listed on telephone directories. However, Pirabu Shamu Naina can be reached at
your given mobile phone number 9831 1046.
The
subject does not have its own operating office.
Its registered address is in a private building located at Flat G, 9/F.,
Peninsula Apartment, 16 Mody Road, Tsimshatsui, Kowloon, Hong Kong. This is the residence of Pirabu Shamu Naina
when he is in Hong Kong.
The
residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
According
to Pirabu Shamu Naina, the subject is trading in mobile phones, electronic
products, etc. Commodities are chiefly
sourced from China and acquired from local suppliers. Prime markets are India, the other Asian
countries, etc. Business is still under
development.
The
subject is just a one-man company.
Business is chiefly handled by Pirabu Shamu Naina himself. History in Hong Kong is just over seven
months.
Since
the registered office of the subject is in a residential building, on the
whole, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.25 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.