MIRA INFORM REPORT

Report Date :

25.11.2014

IDENTIFICATION DETAILS

Name :	GLOBAL MILES LTD.
Registered Office :	Room 506, 5/F., Universal Commercial Building, 69 Peking Road, Tsimshatsui, Kowloon
Country :	Hongkong
Date of Incorporation :	30.06.2004
Com. Reg. No.:	34690594
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of all kinds of garment accessories.
No. of Employees :	8

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Hongkong	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

HONGKONG - 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

GLOBAL MILES LTD.

ADDRESS: Room 506, 5/F., Universal Commercial Building, 69 Peking Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 852-2199 7648/45

FAX: 852-3170 3605

E-MAIL: rizni@biznetvigator.com

MANAGEMENT

Managing Director: Mr. Mohammed Humiun Kabir

SUMMARY

Incorporated on: 30th June, 2004.

Organization: Private Limited Company.

Issued Share Capital: HK$10,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 8.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

Room 506, 5/F., Universal Commercial Building, 69 Peking Road, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

34690594

COMPANY FILE NUMBER

0909396

MANAGEMENT

Managing Director: Mr. Mohammed Humiun Kabir

ISSUED SHARE CAPITAL

HK$10,000.00

SHAREHOLDER

(As per registry dated 30-06-2014)

Name	Occupation	No. of shares
Mohammed Humiun KABIR	Merchant	10,000 =====

DIRECTOR

(As per registry dated 30-06-2014)

Name (Nationality)	Address
Mohammed Humiun KABIR	Flat G, 22/F., Block 12, Charming Garden, 8 Hoi Ting Road, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 30-06-2014)

Name	Address	Co. No.
Best Genius Development Ltd.	Room 1502, 15/F., Nan Dao Commercial Building, 359-361 Queen’s Road, Central, Hong Kong.	0605453

HISTORY

The subject was incorporated on 30th June, 2004 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.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of garment accessories

Employees: 8

Commodities Imported: China, Bangladesh, etc.

Markets: Asian countries, etc.

Terms/Sales: L/C, Advanced T/T, etc.

Terms/Buying: L/C, D/P, O/A, etc.

FINANCIAL INFORMATION

Issued Share Capital: HK$10,000.00

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Normal.

GENERAL

Having issued 1,000 ordinary shares of HK$1.00 each, Global Miles Ltd. is wholly owned by Mohammed Humiun Kabir.

He is a Hong Kong ID holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.

The subject is a premier supplier of all types of garments accessories such as Label, Hangtag, Poly bag, PVC poly bag, Gum tape, C-Clip, M-Clip, Collar stand, Hit transfer label, leather tag, Twill tape and all kind of metal items.

The subject is a nominated accessories supplier for reputed apparel industries. It is responsible for supplying environmental hazard free sustainable products. It is trading in the following products: Belt, Lace, Zipper, Button, Bell Top, Hook, Buckle, Metal Ring, Prong, Stud, Eyelet, etc.

The subject’s plant is in Dhaka, Bangladesh. According to the subject, it also has had associated factories in the other countries of Asia.

The subject’s Dhaka Office is located at House 2, 2/F., Road 3, Sector 06, Uttara, Dhaka.

The subject’s products are marketed in Hong Kong, China and exported to the other Asian countries, Europe, and North America, etc. Business is normal.

The business of the subject is chiefly handled by Mohammed Humiun Kabir himself.

The subject has had an affiliated company Amtranet Hong Kong Ltd. [Amtranet] located at the same address. Amtranet is a garment trader.

As the history of the subject is over ten years and four months in Hong Kong, on the whole, consider it good for normal business engagements.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.78
UK Pound	1	Rs.96.78
Euro	1	Rs.76.59

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

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.