|
Report No. : |
307361 |
|
Report Date : |
18.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
EUROSA PACIFIC
LTD. |
|
|
|
|
Registered Office : |
7/F., Sunward Commercial Building, 27 Fuk Wa Street, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
20.02.2006 |
|
|
|
|
Com. Reg. No.: |
36469652 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
· Engaged in trading of Bird Feed; Building Materials; Chemicals; Coffee & Tea; Dried Fruits/Preserved Fruits; Food & Beverages; Fresh Fruit & Vegetables; Furniture & Furnishings; Health & Beauty Products as well as Vietnam Products · Subject main products lines are Peanut Kernel, Peanut Inshell, Blanched Peanut, Pumpkin Seeds, Pumpkin Kernel, Sunflower Seeds, Sunflower Seeds Kernel, Melon Seeds, Sesame Seeds, Canned Food, Canned Fruit, Canned Vegetables, Frozen Fruit, Frozen Vegetable, Frozen Meat, Frozen Food, Pinenut, Walnut, Cashew, Almond, Chilli, Garlic, Ginger, Garlic Powder, Black Pepper, White Pepper, Coffee Bean, Vietnam Coffee, Vietnam Rice, Desiccated Coconut, Apple Ring, Raisin, Pear, Apricot, Mushroom &Tomato Paste |
|
|
|
|
No of Employees : |
20 (Including
associate) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 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 |
EUROSA PACIFIC
LTD.
7/F., Sunward Commercial Building, 27 Fuk Wa Street, Kowloon, Hong Kong.
PHONE: 852-2850 8211
FAX: 852-2850 8911
E-MAIL: eurosa@eurosa.com
Managing Director: Mr. Feyzullah Ayan
Incorporated on: 20th February, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 20. (Including associate)
Main Dealing Banker: Wing Hang Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
7/F., Sunward Commercial Building, 27 Fuk Wa Street, Kowloon, Hong Kong.
Associated
Companies:-
Eurosa Asia Ltd., Hong Kong. [Deregistered]
Eurosa Corporation Ltd., Hong Kong.
Guangzhou Eurosa Pacific Ltd.
Room 1507, Baihui Building, 193 -215 Zhongshan 5 Road., Yuexiu District, Guangzhou City, China.
[Tel: 86-20-3886 6388 Fax: 86-20-3886 6388]
Topstyle Ltd., Hong Kong.
Vietnam Eurosa Pacific Ltd., Vietnam.
36469652
1025163
Managing Director: Mr. Feyzullah Ayan
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry
dated 20-02-2014)
|
Name |
|
No.
of shares |
|
Feyzullah AYAN |
|
10,000 ===== |
(As per registry
dated 20-02-2014)
|
Name (Nationality) |
Address |
|
Feyzullah AYAN |
Room 101, 13 Chunxiao Street, E’shadao
Datong Road, Dongshan District, Guangzhou City, Guangdong Province, China. |
(As per registry
dated 20-02-2014)
|
Name |
Address |
|
KWOK Shui Kay, Brian |
2/2F, Ede Terrace, 15 Ede Road, Kowloon Tong, Kowloon,
Hong Kong. |
The subject was incorporated on 20th February, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
Last time the subject was located at 7/F., Silvercorp International Tower, 707‑713 Nathan Road, Kowloon, Hong Kong, moved to the present address with effect from 4th August, 2012.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Building Materials‚ Food & Beverages‚ Furniture & Furnishings‚ Health & Beauty‚ Raw Materials as well as Chemicals
Employees: 20. (Including associate)
Commodities Imported: China, other Asian countries, etc.
Markets: China, India, other Asian countries, Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a good manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: Wing Hang Bank Ltd., Hong Kong.
Standing: Good.
Having issued 10,000 ordinary shares of HK$1.00 each, Eurosa Pacific Ltd. formerly was jointly owned by Mr. Feyzullah Ayan, holding 51% interests, and Mr. Lo Chiu Hung, holding 49%. On 27th March, 2013 Lo transferred all his shares to Feyzullah Ayan and since then, the subject is wholly-owned by him.
Feyzullah Ayan is a Hong Kong ID holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject is
trading in the following commodities:-
· Bird Feed;
· Building Materials;
· Chemicals;
· Coffee & Tea;
· Dried Fruits/Preserved Fruits;
· Food & Beverages;
· Fresh Fruit & Vegetables;
· Furniture & Furnishings;
· Health & Beauty Products; &
· Vietnam Products
The subject provides high-end furniture and furnishings to China hotels and luxury residential buildings. It also provides customers with all kinds of building materials according to order.
The subject is also significant for its nuts and seeds. It has created many popular brand name like “Lucky Beans”, “Happy Nuts”, “Lucky Garlic” and “Greenleafs”.
It carries the following main products: Peanut kernel, Peanut inshell, Blanched Peanut, Pumpkin seeds, Pumpkin kernel, Sunflower seeds, Sunflower seeds kernel, Melon seeds, Sesame seeds, Canned food, Canned fruit, Canned vegetables, Frozen fruit, Frozen vegetable, Frozen meat, Frozen food, Pinenut, Walnut, Cashew, Almond, Chilli, Garlic, Ginger, Garlic powder, black pepper, white pepper, coffee bean, Vietnam coffee, Vietnam rice, Desiccated Coconut, Apple ring, Raisin, Pear, Apricot, Mushroom & Tomato Paste
Products are marketed in Hong Kong, China and exported to the other Asian countries.
The subject has had an office in Guangzhou known as Guangzhou Eurosa Pacific Ltd. [Guangzhou Eurosa].
Most of the time, Mr. Feyzullah Ayan is in Guangzhou admonishing the business of Guangzhou Eurosa.
Employing about 20 persons and established in 1986, Guangzhou Eurosa has become one of the significant trading companies in Guangzhou City.
The Contact person of Guangzhou Eurosa Ms. Candy Huang is a Chinese.
Besides Guangzhou Eurosa, the subject also has set up an associated company in Hochiminh City, Vietnam.
The Vietnam company is able to source more commodities for the subject.
The subject’s business is profitable.
As the history of the subject is about nine years in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.