MIRA INFORM REPORT
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Report No. : |
344767 |
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Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
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Name : |
FORTUNE EXPORTS |
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Registered Office : |
Room B2, Block B, 13/F., Hankow Centre, 4A, Ashley Road, Tsim Sha Tsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
15.01.2008 |
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Com. Reg. No.: |
38847426 |
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Legal Form : |
Partnership |
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Line of Business : |
Not Available [We tried to confirm 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Contact Points
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Company Name: |
FORTUNE EXPORTS |
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Supplied Name: |
FORTUNE EXPORTS |
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Supplied Address: |
Flat B2, 13/F Block B Hankrow Centre 4A Ashley Road Tsimshatsui Kln |
Note: The exact name is as above.
Special Note
We cannot obtain any operation or
contact information of the subject from public files according to the supplied
name.
We arranged the site visit for the supplied
address, but we didn’t find subject’s name on it. The supplied address belongs
to a residential building, and we tried to knock the door several times, but
there is no one answering. We cannot find subject according to it.
Up to date of reporting, we failed to get in
touch with subject. If you can supply further information such as current
telephone number, we’d like to have the investigation resumed.
We found subject’s registration information as
follows for reference.
Company Identification Details
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Registered Name: |
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Registered Address: |
Room B2, Block
B, 13/F., Hankow Centre, 4A, Ashley Road, Tsim Sha Tsui, Kowloon, Hong Kong |
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Date of Registration: |
2008-01-15 |
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Business Registration No.: |
38847426 |
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Registered Capital: |
N/A |
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Legal Form: |
Partnership |
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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: |
-- |
Notes: We cannot obtain the registered capital for
the company with the legal form of Partnership. Since we didn’t find subject, the
principal activities and staff number are not available from any sources.
History
Subject was incorporated on 2006-03-10 with
the business registered number 36520721 as Partnership in Hong Kong.
Corporate Structure
Subject did not register
any subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Partners
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1 |
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Name: |
Ahamed Jalaludeen, Ameer H. |
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Position: |
Partner |
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Address: |
B4, 12/F, Block B, Hankow Centre, 4 A, Asheley
Road, Tsim Sha Tsui, Kowloon, Hong Kong |
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ID Number: |
K5117097 |
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Date of Appointment |
2008-01-15 |
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2 |
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Name: |
Seeni Naina Mohamed Haji, S |
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Position: |
Partner |
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Address: |
8/2 Subbarao Avenue, 1st Street, 1/f
College Road, Nungambakkam Chennai 600006, TN, India |
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Date of Appointment |
2008-01-15 |
Operation Information
Offices & Factories
We cannot confirm subject current trading
address at this stage.
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
relevant information is not available from any sources.
Bankers
Since we didn't get in touch with subject, the
bank information is not available from any sources.
Public
Mortgage Record
No mortgage record of the 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
We arranged the site visit for the supplied
address, but we didn’t find subject’s name on it. The supplied address belongs
to a residential building, and we tried to knock the door several times, but there
is no one answering. We cannot find subject according to it.
Address: Room B2, Block B,
13/F., Hankow Centre, 4A, Ashley Road, Tsim Sha Tsui, Kowloon, Hong Kong
Hankow Centre, 4A, Ashley Road, Tsim Sha Tsui,
Kowloon, Hong Kong
Room B2, Block B, 13/F., Hankow Centre, 4A,
Ashley Road, Tsim Sha Tsui, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
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|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.74.50 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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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.