MIRA INFORM REPORT

Report Date :

13.11.2013

IDENTIFICATION DETAILS

Name :	BBV GLOBAL LTD.
Registered Office :	8/F., Flat B-2, Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	17.02.2012
Com. Reg. No.:	59422380
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of All kinds of furniture, safes, lockers, note counting machines.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
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^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Hong Kong	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
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 levies excise duties on only four commodities, namely: 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, 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 9.1% of total system deposits in Hong Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% 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, and less than 2% in 2012. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in 2012. 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

company name

BBV GLOBAL LTD.

ADDRESS

8/F., Flat B-2, Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon, Hong Kong.

(Formerly located at:

c/o Vantic Accounting & Consultant Ltd.

2/F., Western Commercial Building, 31 Des Vouex Road West, Sheung Wan, Hong Kong.)

PHONE: 852-2369 3855, 852-2369 3755

FAX: Not available

MANAGEMENT

Managing Director: Mr. Bharat Bhushan Verma

SUMMARY

Incorporated on: 17th February, 2012.

Organization: Private Limited Company.

Capital: Nominal: US$3,000,000.00

Issued: US$250,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: Nil.

Main Dealing Banker: Bank of Baroda, Hong Kong Branch.

Banking Relation: Satisfactory.

Company name

BBV GLOBAL LTD.

ADDRESS

Registered Head Office:-

8/F., Flat B-2, Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

59422380

COMPANY FILE NUMBER

1706832

MANAGEMENT

Managing Director: Mr. Bharat Bhushan Verma

CAPITAL

Nominal Share Capital: US$3,000,000.00 (Divided into 3,000,000 shares of US$1.00 each)

Issued Share Capital: US$250,000.00

SHAREHOLDER

(As per registry dated 17-02-2013)

Name	No. of shares
Bharat Bhushan VERMA	250,000 ======

DIRECTOR

(As per registry dated 17-02-2013)

Name (Nationality)	Address
Bharat Bhushan VERMA	Flat B202, Vasundhra Appts, 22 Cghs 3, Sec 21C, Faridabad, Haryana-121001, India.

SECRETARY

(As per registry dated 17-02-2013)

Name	Address	Co. No.
Vantic Accounting & Consultant Ltd.	2/F., Western Commercial Building, 31 Des Voeux Road West, Sheung Wan, Hong Kong.	1326135

HISTORY

The subject was incorporated on 17th February, 2012 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at 2/F., Western Commercial Building, 31 Des Voeux Road West, Sheung Wan, Hong Kong where was the operating office of an accounting firm Vantic Accounting & Consultant Ltd., moved to the present address with effect from 3rd October, 2012.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of furniture, safes, lockers, note counting machines.

Employees: Nil.

Commodities Imported: Europe, India, China, other Asian countries, etc.

Markets: India, other Asian countries, etc.

Terms/Sales: As per contracted.

Terms/Buying: Various terms.

FINANCIAL INFORMATION

Nominal Share Capital: US$3,000,000.00 (Divided into 3,000,000 shares of US$1.00 each)

Issued Share Capital: US$250,000.00

Profit or Loss: Kept a balance account in Hong Kong.

Condition: Business is under development.

Facilities: Is making use of general banking facilities.

Payment: Met trade commitments as contracted.

Commercial Morality: Satisfactory

Banker: Bank of Baroda, Hong Kong Branch.

Standing: Small.

GENERAL

Having issued 250,000 ordinary share of US$1.00 each, BBV Global Ltd. is wholly owned by Mr. Bharat Bhushan Verma 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.

Formerly the subject had just issued one ordinary share of US$1.00 which was owned by Bharat Bhushan Verma. The number of ordinary shares was increased to the present one in December 2012.

The subject’s registered address is in a private building located at 8/F., Flat B‑2, Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon, Hong Kong. This seems to be the residence of Bharat Bhushan Verma when he is in Hong Kong.

The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.

The subject has the following two phone numbers: 852-2369 3855 and 852‑2369 3755. But we can reach nobody at these two numbers. It seems that there are nobody in the residential flat.

Your of the subject located at 2/F., Western Commercial Building, 31 Des Voeux Road West, Sheung Wan, Hong Kong is the operating office of the subject’s secretary Vantic Accounting & Consultant Ltd., while your given branch office of the subject located at 8/F., Flat B-2, Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon, Hong Kong actually is the registered and operating office of the subject.

To our knowledge, there is an Indian Bharat Bhushan Verma in Faridabad, Haryana, India operating a firm known as B. B. Varma & Co. [B. B. Varma]. The subject may have connection with this firm.

B. B. Varma is a well-known wholesaler, distributor, supplier, and trader in the following commodities: godrej furniture, security equipment, bank safes, safe deposit lockers, note counting machines, etc.

The subject is engaged in the same lines of business.

The subject’s business in Hong Kong is still under development. Its business is chiefly controlled and operated by Bharat Bhushan Verma.

The history of the subject in Hong Kong is just over a year and ten months.

Since the registered office of the subject is in a residential building and having a short history, 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.63.59
UK Pound	1	Rs.101.56
Euro	1	Rs.85.15

INFORMATION DETAILS

Report Prepared by :

SDA

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.