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Report No. : |
307895 |
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Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL MARINE LIMITED |
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Registered Office : |
G/F., 195 Des Voeux Road West, Sai Ying Pun |
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Country : |
Hong Kong
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Date of Incorporation : |
11.08.2000 |
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Com. Reg. No.: |
31192527 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Retailer of All Kinds of Dried Aquatic
Products. |
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No. of Employees : |
3 [Including Associate] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Your “c/o G-1/F., No. 4 Boham Strand West Sheung Wan” is incomplete and
not a correct address in Hong Kong.
GLOBAL MARINE LTD.
ADDRESS: G/F., 195 Des
Voeux Road West, Sai Ying Pun, Hong Kong.
PHONE: 852-2314
1141
Managing Director: Sarafath Ali
Mohamed Hasana Lebbai
Incorporated on: 11th August,
2000.
Organization: Private Limited
Company.
Issued Share Capital: HK$1,500,000.00
Business Category: Importer, Exporter
and Retailer.
Employees: 3. (Including associate)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
GLOBAL MARINE
LTD.
Registered Head
Office:-
G/F., 195 Des Voeux Road West, Sai Ying Pun, Hong Kong.
Associated
Companies:-
Expofin Pte. Ltd., Singapore.
Treasure Praise Ltd., Hong Kong.
(Same address)
31192527
0727374
Managing Director: Sarafath Ali
Mohamed Hasana Lebbai
HK$1,500,000.00
(As per registry dated 11-08-2014)
|
Name |
|
No. of shares |
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Hamid Sultan Sadique Ali MOMUNA LEBBAI MEERA SAHIB |
|
500,000 |
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Hamid Sultan Ashraf Ali MAMUNA LEBBAI MEERA SAHIB |
|
500,000 |
|
Hamid Sultan Sadique Ali Sahmeer Ahamed |
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500,000 |
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–––––––– |
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Total: |
1,500,000 ======= |
(As per registry dated 11-08-2014)
|
Name (Nationality) |
Address |
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Hamid Sultan Ashraf Ali MAMUNA LEBBAI MEERA SAHIB |
1, Sophia Road #24-02 Peace Mansion, Singapore 228149. |
|
Sarafath Ali MOHAMED HASANA LEBBAI |
Room A3, Block A, 14/F., Hankow Centre, 47 Peking Road, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry dated 11-08-2014)
|
Name |
Address |
Co. No. |
|
Taxbase Consultants Ltd. |
Room 1408, 14/F., Hollywood Plaza, 610 Nathan Road, Kowloon, Hong
Kong. |
0411324 |
The subject was incorporated on 11th August, 2000 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Room A3, Block
A, 14/F., Hankow Centre, 47 Peking Road, Tsimshatsui, Kowloon, Hong Kong, moved
to the present address in January 2015.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Retailer.
Lines: All kinds of
dried aquatic products.
Employees: 3. (Including associate)
Commodities Imported: India, China,
Japan.
Markets: Hong Kong,
Singapore, Europe, North America.
Terms/Sales: COD or as per
contracted.
Terms/Buying: L/C, T/T
Issued Share Capital: HK$1,500,000.00
Profit or Loss: Making a small
profit every year.
Condition: Business is
normal.
Facilities: Making rather
active 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.
Having issued 1.5 million ordinary shares of HK$1.00 each, Global Marine
Ltd. is equally owned by Hamid Sultan Sadique Ali Momuna Lebbai Meera Sahib,
Hamid Sultan Ashraf Ali Mamuna Lebbai Meera SAHIB and Hamid Sultan Sadique Ali
Sahmeer Ahamed.
The directors of the subject are Hamid Sultan Ashraf Ali Mamuna Lebbai
Meera Sahib and Sarafath Ali Mohamed Hasana Lebbai.
The managing director of the subject Sarafath Ali Mohamed Hasana lebbai
is an India merchant. He is a Hong Kong
ID holder and has got the right to reside in Hong Kong permanently.
The subject is sharing the office with another company Treasure Praise
Ltd. [Treasure Praise] which is also located at the same address. Incorporated on 19th February, 2014, Treasure
Praise and the subject are engaged in the same lines of business.
The subject is a dried aquatic products trader. It is trading in the following commodities:
shark’s fin, dried cuttle fish, squid, octopus, abalone, beche-de-mer, mussels,
oysters, scallops, shrimps, lobsters, etc.
Commodities are marketed in Hong Kong, and exported to Singapore, the
other Asian countries, Europe, North America.
The subject’s business is chiefly handled by Sarafath Ali Mohamed Hasana
Lebbai himself. History in Hong Kong is
over fourteen years and six months.
The subject has had an associated company in Singapore which is also
operated by the shareholders of the subject. On the whole, consider the subject
good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.