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Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
EVER TEAM GROUP
HOLDINGS LTD. |
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Registered Office : |
c/o Bridge
Executive Centre Ltd. 20/F., Central Tower, 28 Queen’s Road, Central |
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Country : |
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Date of Incorporation : |
28.03.2014 |
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Com. Reg. No.: |
63091266 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject’s lines of
business are unknown since the secretarial firm knows nothing about its
business.
(line of
business not available from any sources) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
EVER
TEAM GROUP HOLDINGS
LTD.
Registered
Office:-
c/o Bridge
Executive Centre Ltd.
20/F., Central
Tower, 28 Queen’s Road, Central, Hong Kong.
63091266
2071721
28th March, 2014.
HK$10,000.00
(As
per registry dated 19-06-2014)
|
Name |
|
No.
of shares |
|
GRL14 Ltd. OMC Chambers,
Wickhams Cay 1, Road Town, Tortola, British Virgin Islands. |
|
1 |
|
Balu PARAMESHWARAN |
|
9,999 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
(As
per registry dated 19-06-2014)
|
Name (Nationality) |
Address |
|
Balu
PARAMESHWARAN |
1.70 Barathi Nagar Kallur Village, Ramnad
Dt Tamilnadu 623402, India. |
(As
per registry dated 19-06-2014)
|
Name |
Address |
Co.
No. |
|
Asia
Concept Accounting & Secretarial Co. Ltd. |
Unit 1411, 14/F., Star House, 3 Salisbury Road, Kowloon, Hong Kong. |
1781087 |
The
subject was incorporated on 28th March, 2014 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the subject’s registered address was located at 14/F., Chun Wo Commercial
Centre, 25 Wing Wo Street, Central, Hong Kong where was the operating address
of a secretarial firm known as GNL12 Ltd.
The subject changed its registered address to the present one with
effect from 19th June, 2014 as it has changed its commercial service provider
since then.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Ever
Team Group Holdings Ltd. was incorporated in March, 2014 as a private limited
liability company.
The
subject does not have its own operating office.
Its registered office is in a business centre located at 20/F., Central
Tower, 28 Queen’s Road, Central, Hong Kong known as Bridge Executive Centre
Ltd. which is handling its correspondences and documents. The subject may have rented a booth in the
Centre.
The
subject has no employees in Hong Kong.
According
to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary
shares of HK$1.00 each of which are almost wholly owned by Mr. Balu
Parameshwaran who is an India merchant.
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. His
registered address is in Tamilnadu, India.
The
subject’s lines of business are unknown since the secretarial firm knows
nothing about its business.
The
director of the subject cannot be reached as he is not in Hong Kong.
The
subject’s business in Hong Kong is not active.
History in Hong Kong is just over five 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.82 |
|
|
1 |
Rs.98.14 |
|
Euro |
1 |
Rs.78.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.