MIRA INFORM REPORT
|
Report No. : |
318272 |
|
Report Date : |
25.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GREAT MEGA HOLDINGS LIMITED |
|
|
|
|
Registered Office : |
Rm. C, 13th Floor, Wing Cheong Commercial Building, 19-20 Jervois Street, Sheung Wan |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
23.02.2012 |
|
|
|
|
Com. Reg. No.: |
1709127 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of Garments. |
|
|
|
|
No. of Employees : |
About 5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy protests
that began in late September probably will have some adverse effects on
economic growth, particularly retail sales.
|
Source
: CIA |
Contact Points
|
Company Name (in Chinese): |
|
|
Company Name (in English): |
GREAT MEGA HOLDINGS LIMITED |
|
Supplied Name: |
GREAT MEGA HOLDINGS LTD. |
|
Trading Address: |
Rm. C, 13th Floor, Wing Cheong Commercial Building, 19-20 Jervois Street, Sheung Wan, HK |
|
Supplied Address: |
Unit C/13th Floor Cheong Commercial building 19-20 Jervois Street Sheung Wan |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered
Address: |
Rm. C, 13th Floor, Wing Cheong
Commercial Building, 19-20 Jervois Street, Sheung Wan, HK |
|
Telephone Number: |
+852-3971-0326 |
|
Fax Number: |
+852-3971-0329 |
|
Date of
Registration: |
|
|
Registered Number: |
1709127 |
|
Business
Registration No.: |
59445392 |
|
Paid-up Capital: |
HKD 2,000,000 (USD
258,000) = 2,000,000 Shares@ HKD 1 (As of 2015.04, 1
HKD = 0.129 USD) |
|
Legal Form: |
Private Limited
Liability Company |
|
SITC Code: |
84599-- Garments,
Knitted Or Crocheted, N.E.S. (No.) |
|
Principal
Activities: |
Trading of
garments. |
|
Staff: |
About 5 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last
Annual Return: |
2015-2-23 |
History
Subject was
incorporated on 2012-2-23 with the registered number 1709127 as Private Limited
Liability Company in Hong Kong.
Corporate Structure
Subject did not register any subsidiaries or branches; from other source we could not obtain the relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Seth Rajiv |
2,000,000 |
100% |
|
Total |
2,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Seth Rajiv |
|
Address: |
261 Gulmohar
Enclave, New Delhi 110019, India |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Seth Rajiv |
|
Address: |
261 Gulmohar
Enclave New Delhi 110019 India |
|
Position: |
Director |
|
ID Number: |
M 329943(6) |
|
2 |
|
|
Name: |
Joy Secretaries
(HK) Limited |
|
Address: |
Rm. 602-3 Bonham
Trade Centre, 50 Bonham Strand East, Sheung Wan, Hong Kong |
|
Position: |
Corporate
Secretary |
|
Registered Number: |
499423 |
Personnel Structure
|
Total Employees |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Unit C, 13/F Wing Cheong
Commercial Building, 19-21 Jervois Street, Sheung Wan, Hong Kong |
Premises Information
Office address:
|
Address: |
Office C On 13th
Floor Wing Cheong Commercial Building Nos.19-25 Jervois Street Hong Kong |
|
Owners: |
Wai Yin
Association |
|
Memorial Number: |
13120900470053 Assignment |
|
Date of
Instrument: |
2013-11-26 |
|
Date of
Registration: |
2013-12-9 |
|
Consideration
Value: |
HKD 4,200,000.00 |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
13110700350046 |
|
Date of
Instrument: |
2013-11-1 |
|
Date of
Registration: |
2013-11-7 |
|
Nature: |
Agreement For Sale
And Purchase |
|
In Favor of: |
Wai Yin
Association |
|
Consideration: |
HKD 4,200,000.00 |
|
2 |
|
|
Memorial No.: |
13102900630036 |
|
Date of
Instrument: |
2013-10-21 |
|
Date of
Registration: |
2013-10-29 |
|
Nature: |
Prelminary Sale
& Purchase Agreement |
|
In Favor of: |
Wai Yin
Association |
|
Consideration: |
HKD 4,200,000.00 |
|
3 |
|
|
Memorial No.: |
UB7874490 |
|
Date of
Instrument: |
1999-9-8 |
|
Date of
Registration: |
1999-9-21 |
|
Nature: |
Memorandum Of
Agreement For Sale And Purchase With Plan |
|
In Favor of: |
Mok Lai Ching
Linda |
|
Consideration: |
HKD 740,000.00 |
Production Information
Subject is engaged in
trading of garments, etc. without any production activities.
Purchase Information
The products sold by
the subject are purchased from domestic market, India, Vietnam, Pakistan,
Bangladesh.
Sales Information
Subject is engaged
in sale of garments.
The major products
sold by the subject are women T-shirts, Men office shirts, men polo pique, men
swim wear, under garments, night wear.
It is introduced
that subject’s products also include metals and mineral products.
Subject’s major
sales regions include domestic market and abroad.
The major customers
of the subject are garments shops, manufacturers of metal products.
Settlements
Purchase
Domestic Purchase
|
Products |
Garments |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Garments |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Garments |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Garments |
|
Selling Terms |
L/C, T/T |
Financial Information
The subject has no obligation to supply its financial statement to the third
party according to the relevant policy in Hong Kong and the only source from
which we can obtain the information is the subject itself.
Subject’s relevant
staff rejected to disclose the financial information; from other sources we could
not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Public
Mortgage Record
|
1 |
|
|
Company Name: |
Great Mega Holdings
Limited |
|
Instrument of
Creating Mortgage: |
Lien And Set-Of
Agreement |
|
Date of Creating
Mortgage: |
2013-4-17 |
|
Amount Secured: |
For securing
(general credit facility)allowed to Great Mega Holdings Limited from time to time
by HBZ Finance Limited |
|
Name of Mortgagee: |
HBZ Finance
Limited |
|
Address of
Mortgagee: |
805, 8th
Floor, Hung Hom Commercial Centre B, 37 Ma Tau Wai Road, Hung Hom, Kowloon,
Hong Kong |
|
Description of
Property Mortgaged: |
Fixed deposits as
per section 6B in the name of Great Mage Holdings Limited Any extensions or
renewals thereof in part by new fixed deposits receipt(s) bearing different
receipt(s) number. |
|
2 |
|
|
Company Name: |
Great Mega
Holdings Limited |
|
Instrument of Creating
Mortgage: |
Lien And Set-Of
Agreement |
|
Date of Creating
Mortgage: |
2013-4-17 |
|
Amount Secured: |
For securing
(general credit facility)allowed to Great Mega Holdings Limited from time to
time by HBZ Finance Limited |
|
Name of Mortgagee: |
HBZ Finance
Limited |
|
Address of
Mortgagee: |
805, 8th
Floor, Hung Hom Commercial Centre B, 37 Ma Tau Wai Road, Hung Hom, Kowloon,
Hong Kong |
|
Description of
Property Mortgaged: |
Fixed deposits as per
section 6B in the name of Great Mage Holdings Limited Any extensions or
renewals thereof in part by new fixed deposits receipt(s) bearing different
receipt(s) number. |
|
3 |
|
|
Great Mega Holdings Limited |
|
|
Instrument of Creating Mortgage: |
Lien And Set-Of Agreement |
|
Date of Creating Mortgage: |
2013-4-17 |
|
Amount Secured: |
For securing (general credit
facility)allowed to Great Mega Holdings Limited from time to time by HBZ
Finance Limited |
|
Name of Mortgagee: |
HBZ Finance Limited |
|
Address of Mortgagee: |
805, 8th Floor, Hung Hom
Commercial Centre B, 37 Ma Tau Wai Road, Hung Hom, Kowloon, Hong Kong |
|
Description of Property Mortgaged: |
Fixed deposits as per section 6B in the
name of Great Mage Holdings Limited Any extensions or renewals thereof in part
by new fixed deposits receipt(s) bearing different receipt(s) number. |
|
4 |
|
|
Company Name: |
Great Mega
Holdings Limited |
|
Instrument of
Creating Mortgage: |
Lien And Set-Of
Agreement |
|
Date of Creating Mortgage: |
2013-1-21 |
|
Amount Secured: |
For securing
(general credit facility)allowed to Great Mega Holdings Limited from time to
time by HBZ Finance Limited |
|
Name of Mortgagee: |
HBZ Finance
Limited |
|
Address of
Mortgagee: |
805, 8th
Floor, Hung Hom Commercial Centre B, 37 Ma Tau Wai Road, Hung Hom, Kowloon,
Hong Kong |
|
Description of
Property Mortgaged: |
Fixed deposits as
per section 6B in the name of Great Mage Holdings Limited Any extensions or
renewals thereof in part by new fixed deposits receipt(s) bearing different
receipt(s) number. |
Lawsuits
Up to now, no
present or latent litigation of the subject has been found.
|
High Court Action: |
Clear |
|
High Court
Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial
Action: |
Clear |
|
High Court
Construction & Arbitration Proceedings: |
Clear |
|
High Court
Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Name |
Ms. May |
|
Department: |
Sales Department |
|
Email: |
Industry Information
84599--
Garments, Knitted Or Crocheted, N.E.S. (No.)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Bangladesh |
1,280 |
36 |
60,026 |
863 |
|
Germany |
32 |
28 |
3,410 |
1,511 |
|
724 |
845 |
5,742 |
4,649 |
|
|
Indonesia |
1,376 |
82 |
10,580 |
483 |
|
India |
6,460 |
307 |
40,895 |
2,327 |
|
Sri Lanka |
31,237 |
3,448 |
124,014 |
13,486 |
|
Philippine |
1,334 |
104 |
3,980 |
399 |
|
Singapore |
585 |
41 |
11,184 |
481 |
|
USA |
2,480 |
160 |
72,939 |
5,404 |
|
The Mainland of China |
729,095 |
27,196 |
8,693,539 |
270,110 |
|
Exports |
||||
|
Canada |
-- |
-- |
16 |
44 |
|
Japan |
-- |
-- |
170 |
45 |
|
Malaysia |
-- |
-- |
17,942 |
580 |
|
Holland |
-- |
-- |
255 |
102 |
|
Singapore |
-- |
-- |
41 |
98 |
|
Taiwan |
-- |
-- |
100 |
35 |
|
USA |
6 |
1 |
3,246 |
2,392 |
|
The Mainland of China |
-- |
-- |
170 |
45 |
External Trade
Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the
nearest final digit after summing up the constituent trade figures.
Attachment
Address: Rm. C, 13th Floor, Wing Cheong Commercial Building, 19-20 Jervois Street, Sheung Wan, HK
Wing Cheong Commercial Building, 19-20 Jervois Street, Sheung Wan, HK
13th Floor, Wing Cheong Commercial Building, 19-20 Jervois Street, Sheung Wan, HK
Rm. C, 13th Floor, Wing Cheong Commercial Building, 19-20 Jervois Street, Sheung Wan, HK
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.