MIRA INFORM REPORT

Report Date :

16.12.2014

IDENTIFICATION DETAILS

Name :	IDEA ACCORD LIMITED

Registered Office :	Unit B, 3^rd Floor Chun Wah Commercial Building, No. 30 Minden Avenue, T. S. T, Kowloon,

Country :	Hong Kong

Date of Incorporation :	28.02.2014

Com. Reg. No.:	62814231

Legal Form :	Private Limited Liability Company

LINE OF BUSINESS :	NOT AVAILABLE [WE TRIED TO CONFIRM / OBTAIN THE DETAILED ACTIVITY BUT THE SAME IS NOT AVAILABLE FROM ANY SOURCES]

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Business
Payment Behaviour :	Unknown
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, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Hong Kong

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 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% of total system deposits in Hong Kong by the end of 2013. 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 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4% in 2013. 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 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies

Source : CIA

Company name and address

Company Name (in Chinese):	博印有限公司
Company Name (in English):	IDEA ACCORD LIMITED
Supplied Name:	IDEA ACCORD LIMITED
Supplied Address:	Flat B 3F Chun Wah Commercial Bldg 30 Minden avenue Tsim Sha Tsui Kwoloon

Special Note

We made an on-site visit to the supplied address, and found that subject is not at this location. The address belongs to subject’s Corporate Secretary named “Hashmi Secretarial Services Limited”. And the relevant staff of subject’s Corporate Secretary refused to introduce any information for us.

According to the supplied name and address, we can not find any operation information or valid contact information of subject.

Update to date of reporting, we failed to get in touch with subject. If you can supply a current telephone, we’d like to have the investigation resumed.

We found subject’s registration information as follows for reference.

Company Identification Details

Registered Name:	Idea Accord Limited
Registered Address:	Unit B, 3^rd Floor Chun Wah Commercial Building, No. 30 Minden Avenue, T. S. T, Kowloon, Hong Kong
Date of Registration:	2014-2-28
Registered Number:	2044098
Business Registration No.:	62814231
Registered Capital:	HKD 10,000 (USD 1,290) (As of 2014.12, 1 HKD = 0.129 USD)
Paid-up Capital:	HKD 1 (USD 0.129) = 1 Shares@ HKD 1
Legal Form:	Private Limited Liability Company
Principal Activities:	N/A
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	--

Notes: Since we didn’t contact subject successfully, the principal activities and staff number are not available from any sources.

History

Subject was incorporated on 2014-2-28 with the registered number 2044098 as Private Limited Liability Company in Hong Kong.

Change of Name:

Date	Change
2014-2-28	Unit A, 3/F, Cheong Sun Tower, 116-118 Wang Lok Street, Sheung Wan, Hong Kong
2014-5-14	Unit B, 3^rd Floor Chun Wah Commercial Building, No. 30 Minden Avenue, T. S. T, Kowloon, Hong Kong

Corporate Structure

Subject did not introduce whether it has any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Shareholders

Name	Subscription Shares	Proportion of Investment (%)
Company Kit Secretarial Services	1	100%
Total	1	100%

Major Shareholder Information:

Name:	Company Kit Secretarial Services
Address:	Unit A, 3/F, Cheong Sun Tower, 116-118 Wang Lok Street, Sheung Wan, Hong Kong

Management Information

Core Management

Detailed Information of Directors:

1
Name:	Abdul Gani Najumudeen
Address:	No. 100/128 Coral Merchant Street Chennai 600 001 Tamilnadu India
Position:	Director
Passport Number:	J1483191
Issuing Country:	India
Date of Appointment:	2014-5-14
2
Name:	Hashmi Secretarial Services Limited
Address:	Unit B, 3^rd Floor, Chun Wah Commercial Building, 30 Minden Avenue, T. S. T, Hong Kong
Position:	Corporate Secretary
Registered Number:	586217
Date of Appointment:	2014-5-14

Former Directors:

1
Name:	Company Kit Secretarial Services
Address:	Unit A, 3/F, Cheong Sun Tower, 116-118 Wang Lok Street, Sheung Wan, Hong Kong
Position:	Director
Registered Number:	585894
Date of Resignation:	2015-5-14
2
Name:	Company Kit Registration Services
Address:	Unit A, 3/F, Cheong Sun Tower, 116-118 Wang Lok Street, Sheung Wan, Hong Kong
Position:	Corporate Secretary
Registered Number:	586217
Date of Resignation:	2015-5-14

Operation Information

Since we failed to contact with the subject, the operation information is not available from any sources.

Settlements

Since we didn’t contact subject successfully, the settlement information is not available from any sources.

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 contact subject successfully, the financial information is not available from any sources.

Bankers

Since we didn’t contact subject successfully, the bank information is not available from any sources.

Public

Mortgage Record

No mortgage record of subject was found.

Lawsuits

Up to now, no present or latent litigation of the subject has been found.

High Court Action:	Clear
High Court Baukufty Bankruptcy Proceedings:	Clear
High Court Commercial Action:	Clear
High Court Construction & Arbitration Proceedings:	Clear
High Court Companies Winding-Up:	Clear

Industry Information

External Trade Information:

External Merchandise Trade Aggregate Figures

Unit: HKD/ Million

	Imports	Domestic Exports	Re-exports	Total exports	Year-on-year % change of Total exports	Merchandise trade balance
2011	3,764,596	65,662	3,271,592	3,337,253	+10.1	-427,343
2012	3,912,163	58,830	3,375,516	3,434,346	+2.9	-477,817
2013	4,060,717	54,364	3,505,322	3,559,686	+3.6	-501,031
2013.03	340,857	5,073	286,638	291,711	+11.2	-49,146
2013.04	332,963	4,503	285,763	290,267	+9.0	-42,696
2013.05	335,809	4,818	286,724	291,542	-1.0	-44,267
2013.06	327,309	4,476	273,161	277,637	-0.2	-49,673
2013.07	342,565	4,783	300,630	305,413	+10.6	-37,152
2013.08	347,059	4,932	302,558	307,490	-1.3	-39,570
2013.09	359,841	4,395	313,436	317,830	+1.5	-42,010
2013.10	361,196	4,458	318,686	323,144	+8.8	-38,052
2013.11	370,104	4,587	320,935	325,522	+5.8	-44,581
2013.12	365,228	4,596	306,281	310,877	0.0	-54,351
2014.01	323,436	4,299	299,157	303,456	-0.4	-19,979
2014.02	266,587	3,276	209,638	212,914	-1.3	-53,673
2014.03	351,889	5,120	296,403	301,523	+3.4	-50,365
2014.04	340,972	4,867	280,816	285,682	-1.6	-55,290
2014.05	348,323	5,299	300,673	305,973	+4.9	-42,350
2014.06	352,316	4,802	304,409	309,211	+11.4	-43,105

*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.

Attachment

Unit B, 3^rd Floor Chun Wah Commercial Building, No. 30 Minden Avenue, T. S. T, Kowloon, Hong Kong

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.65
UK Pound	1	Rs.98.53
Euro	1	Rs.78.02

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	NIS

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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