MIRA
INFORM REPORT
Updated report
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Report No. : |
306655.2 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
EASYTEL SYSTEMS |
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Registered Office : |
Flat D, Blk 21, 9/F., South Horizon,
Apleichau |
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Country : |
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Date of Incorporation : |
11.06.2010 |
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Com. Reg. No.: |
52432491 |
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Legal Form : |
Sole Proprietorship Concern |
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Line of Business : |
Not Available
[We tried to confirm / obtain the detailed
activity but the same is not available from any sources.] |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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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
|
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 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 |
Contact Points
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Concern Name: |
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Supplied Name: |
Easy Tel Systems |
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Supplied Address: |
Flat D Block 21 9F South Horizon Apleichau and |
Credit Summary
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Credit Opinion: |
Since we can’t get in touch with subject, caution should
be exercised. |
Special Note
We cannot obtain any valid contact information about subject in Hong Kong according the supplied name and address.
We made an on-site visit to the supplied address. But there was a private residential area and we didn’t allow to enter. In this situation, we cannot confirm whether subject located at the address.
Up to the date of report, we failed to find subject, if you kindly supply further information such as current telephone number, we’d like to continue our investigation.
We found the registration information of subject from local registry, supplying as follows for reference.
Concern
Identification Details
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Registered Name: |
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Registered Address: |
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Date of Registration: |
2010-6-11 |
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Business Registration No.: |
52432491 |
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Registered Capital: |
N/A |
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Legal Form: |
Sole Proprietorship |
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Principal Activities: |
N/A |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
-- |
Note: It is not required for Sole Proprietorship companies to register capital in Hong Kong.
Since we can’t get in touch with subject, the principal activities and staff number are not available from any sources.
History
Subject was incorporated on 2010-6-11 with the business registration no. 52432491 as Sole Proprietorship Concern in Hong Kong.
Corporate
Structure
Subject did not register any subsidiaries or branches; from
other source we could not obtain the relevant information, either.
Owner
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Name: |
Rastogi, Pavan Kumar |
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Address: |
Ram Kishan Rastogi Geeta Rastogi A 208
Sector 26 Noida (UP) India |
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Incoming Date: |
2010-6-11 |
Operation
Information
Offices &
Factories
We cannot confirm subject’s current trading address at this stage.
Operation
Information
Registered file shows subject is a trader of electronic components related to mobile phones, etc. Since we didn’t get in touch with subject, the relevant information cannot be confirmed by any other sources.
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.
Since we didn’t get in touch with subject, the financial information is not available from any sources.
Bankers
Since we didn’t contact subject successfully, the bank information is not available from any sources.
Public
Mortgage Record
No mortgage record of subject was found.
Lawsuits
Up to now, no
present or latent litigation of the subject has been found.
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High Court Action: |
Clear |
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High Court Baukufty Bankruptcy
Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction &
Arbitration Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Attachment
South Horizon,
Apleichau, Hong Kong
%2016-Feb-2015_files/image002.gif)
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
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UK Pound |
1 |
Rs.95.78 |
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Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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.