MIRA INFORM REPORT
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Report No. : |
294438.2 |
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Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
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Name : |
EVERBLUE CORPORATION LTD. |
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Registered Office : |
c/o Akin Professionals Ltd. 20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.06.2014 |
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Com. Reg. No.: |
63428485 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF DIAMONDS |
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No. of Employee : |
4. |
RATING & COMMENTS
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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%2013-Apr-2015_files/image006.gif){kind=small}
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.
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Source
: CIA |
Company
name and address
EVERBLUE CORPORATION LTD.
ADDRESS: c/o Akin
Professionals Ltd.
20/F., Champion
Building, 287-291 Des Voeux Road Central, Sheung Wan,
Hong Kong.
PHONE: 852-2541 4224
FAX: 852-2541 4225
MANAGEMENT
Managing Director: Mr. Fazal
Kasuar Khan
SUMMARY
Incorporated on: 5th June, 2014
Organization: Private Limited
Company.
Issued Share Capital: HK$1.00
Business Category: Diamond
Trader.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered
Office:-
c/o Akin Professionals Ltd.
20/F., Champion Building, 287-291 Des Voeux Road Central,
Sheung Wan, Hong Kong.
[Tel: 852-2541 4224; Fax:
852-2541 4225]
BUSINESS
REGISTRATION NUMBER
63428485
COMPANY
FILE NUMBER
2105304
MANAGEMENT
Managing Director: Mr. Fazal
Kasuar Khan
Manager: Mr. Shyam
(Hong Kong Mobile Phone No.: 852-5444 0909)
ISSUED
SHARE CAPITAL
HK$1.00
SHAREHOLDER
(As per registry dated 05-06-2014)
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Name |
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No. of share |
|
Comkit Ltd., Hong Kong. |
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1 = |
DIRECTOR
(As per registry dated 12-09-2014)
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Name (Nationality) |
Address |
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Fazal Kasuar KHAN |
20, Kismat Manzil, 2nd Floor, Room No. 44, Badloo Rangari
Street, Byculla, Mumbai, India. |
SECRETARY
(As per registry dated 12-09-2014)
|
Name |
Address |
Co. No. |
|
Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan,
Hong Kong. |
1273165 |
HISTORY
The subject was incorporated on 5th June, 2014 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Unit A, 3/F.,
Cheong Sun Tower, 116-118 Wing Lok Street, Sheung Wan, Hong Kong where was the
operating office of a commercial service provider. It moved to the present address with effect
from 12th September, 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.
OPERATIONS
Activities: Importer, Exporter
and Wholesaler.
Lines: Diamonds
Employees: 4.
Commodities Imported: India, China,
other Asian countries
Markets: China India, other
Asian countries.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P
FINANCIAL
INFORMATION
Issued Share Capital: HK$1.00
Profit or Loss: Too early to offer
an opinion.
Condition: Business is at its
early stage.
Facilities: Making use of
general banking facilities.
Payment: Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Everblue Corporation Ltd. was incorporated in June 2014 as a private
limited liability company.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at 20/F., Champion Building, 287-291 Des Voeux Road
Central, Sheung Wan, Hong Kong known as Akin Professionals Ltd. [Akin] which is
handling its correspondences and documents.
Akin is also the corporate secretary of the subject.
According to the Companies Registry of Hong Kong, the subject has issued
just one ordinary share of HK$1.00 which is owned by Comkit Ltd. [Comkit], a
Hong Kong-registered company. However,
Comkit is just the nominal holding company.
Comkit is located at the same address of Akin.
The director of the subject Fazal Kasuar Khan 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
Mumbai, India.
We can reach Mr. Shyam at his Hong Kong mobile phone number
852‑5444 0909. When we
reached him he was in Beijing, China.
According to Shyam, he has four employees in Hong Kong. Your given fax number belongs to Akin.
The subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut
diamonds. Most of the commodities are
imported from India, China. Prime
markets are Hong Kong, China, India, and the other Asian countries. Business is still under development.
The subject has been banking with The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. The subject
is banking with its Des Voeux Road Central Office located at China Insurance
Group Building, 141 Des Voeux Road Central, Central, Hong Kong.
The business of the subject is chiefly handled by Mr. Shyam. History in Hong Kong is just over ten months.
On the whole, since the history of the subject is short in Hong Kong,
consider it good for normal credit requirements on L/C basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.67 |
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|
1 |
Rs.91.60 |
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Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.