MIRA INFORM REPORT
|
Report No. : |
321415 |
|
Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
EASE HUGE LIMITED |
|
|
|
|
Registered Office : |
10/F, Unit-E-8, Tack Building, 48 Gilman Street, Central |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
09.12.2014 |
|
|
|
|
Com. Reg. No.: |
2178616 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Not Available |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
|
|
Status : |
New Business |
|
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: |
EASE HUGE LIMITED |
|
Supplied Name: |
EASE HUGE LIMITED |
|
Supplied Address: |
10/F Unit E-8 Tack Bldg 48 Gilman Street Central |
Note: The exact name is
as above.
Special Note
We cannot obtain any contact information of the subject from public
files according to the supplied name.
We visited the supplied address, which is also subject’s registered
address, but did not find the subject on it. We found corporate secretary
(Global Associated Limited) located at it. The relevant staff on the address
introduced that subject is only registered on the supplied address, but they
declined to disclose any information of the subject for confidential reasons.
Based on subject’s registered files and our investigation, we consider
subject as an offshore company.
We found subject’s registered files from local registry, supplying as
following for reference.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
10/F, Unit-E-8, Tack Building, 48 Gilman
Street, Central, Hong Kong |
|
Date of Registration: |
2014-12-9 |
|
Registered Number: |
2178616 |
|
Business Registration No.: |
64165557 |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares @ HKD 1 (As of 2015.5, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-12-9 |
History
Subject was incorporated on 2014-12-9 with the registered number 2178616
as Private Limited Liability Company in Hong Kong.
Change of Registered Address:
|
Former Address: |
14/F., Chun Wo Commercial Centre, 25 Wing Wo Street, Central, Hong
Kong |
|
Current Address: |
10/F, Unit-E-8, Tack Building, 48 Gilman Street, Central, Hong Kong |
Change of Capital:
Particulars of the increase are as follows:
|
Date of Resolution |
Paid-up Capital |
Amount of Additional Capital |
New Amount of Total Paid-up Capital |
|
2015-2-10 |
HKD 1 |
HKD 9,999 |
HKD 10,000 |
The additional Capital is divided as follows:
|
Class of Shares |
Number of Shares |
Nominal Value per Share |
|
Ordinary |
9,999 |
HKD 1 |
Corporate Structure
Subject did not register any subsidiaries or
branches, from other source we can not obtain the relevant information, either.
Shareholders
|
Subscription
Shares |
Proportion of
Investment (%) |
|
|
GRL14 Limited |
1 |
0.01% |
|
Katagulla Ashfaq |
9,999 |
99.99% |
|
Total |
10,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
GRL14 Limited |
|
Address: |
OMC Chambers, Wickhams Cay 1, Road Town Tortola, British Virgin
Islands |
|
Name: |
Katagulla Ashfaq |
|
Address: |
10-220 Bahadur Sha (St), Kadiri (PO.MDL) Anantapur (DT) AP-515591,
India |
Management Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Katagulla Ashfaq |
|
Address: |
10-220 Bahadur Sha (St), Kadiri (PO.MDL) Anantapur (DT) AP-515591,
India |
|
Position: |
Director |
|
Passport Number: |
J7195041 |
|
Issuing Country: |
Republic of India |
|
Date of Appointment: |
2015-2-10 |
|
2 |
|
|
Name: |
Global Associates Limited |
|
Address: |
10/F, Unit-A, Tack Building, 48 Gilman Street, Central, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
1695695 |
|
Date of Appointment: |
2015-2-10 |
Former Directors:
|
1 |
|
|
Name: |
GRL14 Limited |
|
Address: |
OMC Chambers, Wickhams Cay 1, Road Town Tortola, British Virgin
Islands |
|
Position: |
Director |
|
Date of Resignation: |
2015-2-10 |
|
2 |
|
|
Name: |
Zhiyin Liu |
|
Address: |
Room 202, Block 1, 2 Tianbei Road, Luohu District, Guangdong Province,
China |
|
Position: |
Director |
|
Date of Resignation: |
2015-2-10 |
|
3 |
|
|
Name: |
GSL14 Limited |
|
Address: |
14/F., Chun Wo Commercial Centre, 25 Wing Wo Street, Central, Hong
Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
2010658 |
|
Date of Resignation: |
2015-2-10 |
Operation Information
Operation Information
Subject does not have business entity in Hong Kong.
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 does not have business entity in Hong Kong, thus we cannot
obtain the relevant information.
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.
|
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 |
Attachment
Address: 10/F, Unit-E-8, Tack Building, 48 Gilman Street, Central, Hong
Kong
Tack Building, 48 Gilman Street, Central, Hong Kong
Tack Building, 48 Gilman Street, Central, Hong Kong
10/F, Unit-E-8,, Tack Building, 48 Gilman Street, Central, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.20 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.91 |
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.