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Report No. : |
306654 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
EMERGING CAPITAL LTD. |
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Registered Office : |
C/o Honiworld Ltd. Room 502, 5/F., Prosperous Building, |
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Country : |
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Date of Incorporation : |
23.02.2012 |
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Com. Reg. No.: |
59445805 |
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Legal Form : |
Private Limited Liability Company |
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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 : |
No Employee in It is to be noted that the
company does not have its own operating office in |
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 : |
No Operating Office in Hong Kong |
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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.
|
Source
: CIA |
EMERGING CAPITAL LTD.
Registered
Office:-
C/o Honiworld Ltd.
Room 502, 5/F., Prosperous Building, 48-52 Des Voeux Road Central, Hong
Kong
Operating Office:-
C/o The Executive Centre
Level 8, Cambridge House, Taikoo Place, 979 King’s Road, Hong Kong.
Associated
Company:-
Anchor Capital Investments Ltd., Samoa.
59445805
1709166
23rd February, 2012.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 23-02-2014)
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Name |
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No. of share |
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Tahir Abdullah |
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1 = |
(As per registry dated 26-09-2014)
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Name (Nationality) |
Address |
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Khandaker Abul Kashem REZBI |
H. No. 01, Flat # A1, A2, Road #3, Sector – 11, Uttara, Dhaka 1230,
Bangladesh. |
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Zulaikha Nasir MOGUL |
8072 Tryon PL, Jamaica, NY 11432-1421, U.S.A. |
(As per registry dated 23-02-2014)
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Name |
Address |
Co. No. |
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Honiworld Ltd. |
Room 502, 5/F., Prosperous Building, |
0532219 |
The subject was incorporated on 23rd February, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of AFG Listings
Ltd., name changed to the present style on 15th April, 2014.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Date of Security Over Deposits with the Bank: 31-05-2012
Amount: To secure all
monies in respect of banking facilities owing at any time plus interest and all
expenses
Property: Initially
HK$30,000 or quivalent and all monies whether now or hereafter standing to the
credit of the Company’s deposit with the Bank under deposit number
848-268454-838
Mortgagee: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Emerging Capital Ltd. was incorporated on 23rd February, 2012 as a
private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at ‘Room 502, 5/F., Prosperous Building, 48-52 Des Voeux
Road Central, Hong Kong’ known as ‘Honiworld Ltd.’ which is handling its
correspondences and documents. Honiworld
is also the corporate secretary of the subject.
The subject’s nominal operating office is located at ‘Level 8, Cambridge
House, Taikoo Place, 979 King’s Road, Hong Kong’ where is a business centre
known as ‘The Executive Centre’ [TEC].
Your given phone number 852-2293 2683 belongs to TEC.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
just one ordinary share of HK$1.00 which is owned by Mr. Tahir Abdullah who is
a Pakistan merchant. The directors of
the subject are Khandaker Abul Kashem Rezbi and Mr. Zulaikha Nasir Mogul. The latter is a US passport holder.
The subject’s main office is in Australia [ECL].
The objective of ECL is to serve the comprehensive needs of businesses
in the full range of the business cycles.
It has clients, advisors and consultants around the globe.
ECL acts as an incubator for small to medium sized enterprises [SMEs]
who would otherwise have no opportunity to raise funds or be exposed to
international opportunities. ECL’s
clients gain access to the stock markets, to private equity funds, hedge funds,
as well as private sophisticated investors, allowing clients to choose the most
suited funding option for their business.
ECL is the parent company of the Group which is engaged in holding
pre-IPO investments of up to 49% of an SME’s capital with investments generally
between US$ 5 million and US$ 50 million.
The activities carried out ECL are financial consulting, financial
analysis, listing on the Stock Exchanges, business plan development, website
development, services, and fund raising.
The primary investment objective of ECL is to develop as an aggressive
investment and transaction oriented business focused on wealth creation for its
shareholders. The main investment activities
of ECL focus on small to medium sized enterprises that are suitable for future
listing on recognised stock exchanges and may require further working capital,
development assistance and/or management to realize their respective potential.
ECL helps companies that are interested in listing their shares on the
Frankfurt, Australia, Bermuda and the US Stock Exchanges.
The subject’s business in Hong Kong is not active. History in Hong Kong is about three years.
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.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.14 |
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|
1 |
Rs.95.77 |
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Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
-- |
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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.