|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
BIG TEAM ASIA
LTD. |
|
|
|
|
Registered Office : |
138, 2/F., Ma Kwu Lam, Sai Kung, New Territories |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
25.07.2011 |
|
|
|
|
Com. Reg. No.: |
58769494 |
|
|
|
|
Legal Form : |
Private Limited Liability |
|
|
|
|
LINE OF BUSINESS : |
NOT
AVAILABLE NOTE: WE
TRIED TO CONFIRM / OBTAIN THE DETAILED ACTIVITY BUT THE SAME IS NOT AVAILABLE
FROM ANY SOURCES. |
|
|
|
|
No of Employees : |
No of employees not available in NOTE : It is to be noted that the
company does not have its own operating office in |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office In Hong Kong |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Hong Kong |
A1 |
A1 |
|
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 |
BIG
TEAM ASIA LTD.
Registered
Office:-
Room 138, 2/F., Ma
Kwu Lam, Sai Kung, New Territories, Hong Kong.
58769494
1641934
25th July, 2011.
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 25-07-2013)
|
Name |
|
No. of shares |
|
Pappaih Jagdish Kumar |
|
10,000 ===== |
(As
per registry dated 25-07-2013)
|
Name (Nationality) |
Address |
|
Pappaih Jagdish Kumar |
No. 17, 3rd Cross Rha Pension Line
Gowthamapuram Ulsoor Bangalore 560088 Karnataka, India. |
(As
per registry dated 25-07-2013)
|
Name |
Address |
Co. No. |
|
Central
Dynamic Secretarial Ltd. |
Unit 5-6, 7/F., Greenfield Tower, Concordia Plaza, 1 Science Museum
Road, Tsimshatsui, Kowloon, Hong Kong. |
0563433 |
Big Team Asia Ltd.
was incorporated on 25th July, 2011 as a private limited liability company under
the Hong Kong Companies Ordinance.
Having issued
10,000 ordinary shares of HK$1.00 each, Big Team Asia Ltd. is wholly owned by
Mr. Pappaih Jagdish Kumar 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 does
not have its own operating office. Its
registered address is in a private house located at Room 138, 2/F., Ma Kwu Lam,
Sai Kung, New Territories, Hong Kong.
This address seems to be the corresponding address of the subject. It is in a residential building.
Formerly the
subject’s registered address was located at Room 1001-4A, 10/F., Champion
Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong where was
the operating address of a secretarial firm known as GNL11 Ltd. The subject moved to the present address with
effect from 28th November, 2011.
The subject has no
employees in Hong Kong. It’s telephone
number and fax number have not registered with local telephone company nor
listed on telephone directories.
The subject’s
lines of business are unknown since the secretarial firm knows nothing about
its business.
We can reach
nobody at your given phone number 852-9256 7469 which is a Hong Kong mobile
phone line. This line cannot reach the
owner of the phone number as the owner has turned off his mobile phone.
It is also likely
that the subject has got an associated company in India which is also operated
by Mr. Pappaih Jagdish Kumar.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is over two years.
Since the subject
does not have its own operating office and has no employees in Hong Kong, on
the whole, 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.19 |
|
|
1 |
Rs. 102.13 |
|
Euro |
1 |
Rs. 84.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.