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Report Date : |
14.11.2014 |
IDENTIFICATION DETAILS
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Name : |
MERASIA LTD. |
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Registered Office : |
c/o Asia Secretarial Services Ltd. Unit 1010, 10/F., Miramar Tower, 132
Nathan Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.09.2012 |
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Com. Reg. No.: |
60350287 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER
AND EXPORTER OF CLEAN ROOM ACCESSORIES. |
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No. of Employees : |
Not Available (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.) |
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 |
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Status : |
No Operating office in Hong Kong
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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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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
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 |
MERASIA
LTD.
ADDRESS:
c/o Asia Secretarial Services Ltd.
Unit 1010, 10/F., Miramar Tower, 132 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-8102 2592
FAX: 852-8102 2593
Managing Director: Mr.
Richard Meredith
Incorporated on: 12th
September, 2012.
Organization: Private
Limited Company.
Issued Shares Capital: HK$1.00
Business Category: Importer and Exporter.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
MERASIA
LTD.
ADDRESS:
Registered
Head Office:-
c/o Asia Secretarial Services Ltd.
Unit 1010, 10/F., Miramar Tower, 132 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong.
Main
Office:-
Sathorn Square, 98 North Sathorn Road, 37/F.,
Sathorn Square Building, Bangrak, Bangkok, Thailand.
[Tel:
+66 (0) 2 105 6448; Fax: +66 (0) 2 105 6310]
India
Office:-
Kumara Nilayam New No. 27, Old No. 20, 3rd
Main, 2nd Cross New Thippasandra Post, Malleshpallay, Bangalore 560075, India.
[Tel:
+91 98451 64423; Fax: +91 80416 78170]
60350287
1799232
Managing Director: Mr. Richard Meredith
HK$1.00
(As per registry dated 12-09-2014)
|
Name |
|
No.
of share |
|
Richard MEREDITH |
|
1 = |
(As per registry dated 12-09-2014)
|
Name (Nationality) |
Address |
|
Richard MEREDITH |
28 Oldhall Drive, Kilmacolm PA13 4RF,
Scotland, United Kingdom. |
|
Rebecca Jane MEREDITH |
28 Oldhall Drive, Kilmacolm PA13 4RF,
Scotland, United Kingdom |
(As per registry dated 12-09-2014)
|
Name |
Address |
Co.
No. |
|
Asia Secretarial Services Ltd. |
Unit 1010, 10/F., Miramar Tower, 132 Nathan
Road, Tsimshatsui, Kowloon. Hong Kong. |
1401131 |
The subject was incorporated on 12th
September, 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: Importer
and Exporter.
Lines: Clean
room accessories.
Employees: Nil.
Commodities Imported: UK, US, etc.
Markets: India,
Thailand, other Asian countries, Europe, Australia, New Zealand, etc.
Terms/Sales:
As per contracted.
Terms/Buying: Various
terms.
Issued Shares Capital: HK$1.00
Profit or Loss: Keeping a balance account.
Condition: Business
is not very active.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Unknown
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
Having issued just one ordinary share of HK$1.00,
Merasia Ltd. is wholly owned by Richard Meredith who is a UK merchant. He and Ms. Rebecca Jane Meredith are
directors of the subject.
Being UK passport holders, they do not have
the right to reside in Hong Kong permanently. Their registered addresses are in Scotland,
the United Kingdom.
The subject does not have its own operating
office. Its registered office is in a
commercial service firm located at Unit 1010, 10/F., Miramar Tower,
132 Nathan Road, Tsimshatsui, Kowloon. Hong Kong known as Asia Secretarial
Services Ltd. which is handling its correspondences and documents. This secretarial company is also the
corporate secretary of the subject.
The subject has no employees in Hong Kong.
Your given phone and fax number 66 (0) 2 105
6448 and 66 (0) 2 105 6310 respectively belongs to the subject’s main office in
Bangkok, Thailand. The subject also has
had an office in Bangalore, India. There
are about 50 employees in total in these two countries.
The subject has been dedicated to the
distribution of market-leading products throughout Southeast Asia, Australia
and New Zealand since 2012. It has in
depth experience of sheet cleaning, web cleaning, and static control solutions.
The subject has had the following two main
suppliers:-
Teknek Ltd. [Teknek], United Kingdom.
The Simco-Ion Co. Inc. [Simco-Ion], United
States.
Teknek is a world leader in contact cleaning
systems while Simco-Ion is a world leader in static control.
The subject is the official distributor of
Teknek contact cleaning systems and Simco static control products including air
suction brush cleaning systems. The
subject distributes the latest products for cleaning products before printing,
after die-cutting, before packing, after slitting etc. Static control is also a key feature in increasing
productivity and quality. The subject’s
products reduce scrap and rejects giving users higher yields and profits.
In order to penetrate the international
market further, the subject has taken part in fairs and exhibitions held in Hong
Kong and other foreign large cities. For
instance, it took part in LabelExpo India 2014 which had been held during the
period of 29th October to 1st November, 2014.
The venue was in Pragati Maidan, New Delhi, India.
The business of the subject is chiefly
handled by the two directors of the subject.
The subject’s business in Hong Kong is not
active. History in Hong Kong is just
over two years and two months.
Since the subject does not have its own
operating office and has no employees in Hong Kong, 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.61.56 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.76.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
|
|
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.