MIRA INFORM REPORT
|
Report No. : |
340921 |
|
Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
EUROSIA HOLDINGS (CHINA) LIMITED |
|
|
|
|
Registered Office : |
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
06.06.2001 |
|
|
|
|
Com. Reg. No.: |
759364 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of food |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 12.5% 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
|
Company Name (in English): |
Eurosia Holdings (China) Limited |
|
Supplied Name: |
Eurosia Holdings (China) Ltd |
|
Trading Address: |
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong |
|
Supplied Address: |
11/F, Leader Commercial Building, 54-56 Hillwood Road, TST Kowloon |
Note: The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
11th
Floor, The Leader Commercial Building, 54-56 Hillwood Road, Timshatsui,
Kolwoon, Hong Kong |
|
Telephone Number: |
+852-2366-9309 |
|
Fax Number: |
+852-2721-5021/2366-3765 |
|
Date of Registration: |
2001-6-6 |
|
Registered Number: |
759364 |
|
Business Registration No.: |
31911264 |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD
1 (As of 2015.09, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
01112-- Meat of bovine animals, boneless,
fresh or chilled (kg) |
|
Principal Activities: |
Trading of food and etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-6-6 |
Notes: Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
History
Subject was incorporated on 2001-6-6 with the registered
number 759364 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Parent Company
|
Name: |
Eurosia Holdings Limited |
|
Address: |
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong |
|
Tel: |
+852-2366-9309 |
|
Fax: |
+852-2721-5021/2366-3765 |
|
Date of Registration: |
1980-1-25 |
|
Registered Number: |
77857 |
|
Business Registration No.: |
06447642 |
|
Legal Form: |
Private Limited Liability Company |
Major Related Companies
|
Happy Bright Enterprise Limited Ausino Food Holdings Limited C. N. Z Fishing Development Limited Genetop Development Limited Ocean More Enterprise Limited |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Eurosia Holdings Limited |
9,999 |
99.99% |
|
Lee Yue Chun |
1 |
0.01% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
Name: |
Eurosia Holdings Limited |
|
Address: |
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong |
|
2 |
|
|
Name: |
Lee Yue Chun |
|
Address: |
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Lee Yue Chun |
|
Address: |
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
A762120(8) |
|
2 |
|
|
Name: |
Cheung Wao Mi |
|
Address: |
Flat D, 21F-22F, Emperor Height, 5 Cox’S
Road, Tsimshatsui, Hong Kong |
|
Position: |
Director |
|
ID Number: |
E199547(6) |
|
3 |
|
|
Name: |
Lee Sai Kit |
|
Address: |
Flat D, 21F-22F, Emperor Height, 5 Cox’S
Road, Tsimshatsui, Hong Kong |
|
Position: |
Director |
|
ID Number: |
K610064(3) |
|
4 |
|
|
Name: |
Tam Yin Hung |
|
Address: |
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong |
|
Position: |
Secretary |
|
ID Number: |
E780756(6) |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Office No.1 On 11th Floor The Leader Commercial Building Nos.54 & 56 Hillwood Road Kowloon |
|
Owners: |
Eurosia Holdings Limited |
|
Memorial Number: |
UB4057744 |
|
Date of Instrument: |
1987-9-8 |
|
Date of Registration: |
1989-4-27 |
Production
Information
The subject is a trader of food
It is introduced that subject’s group has factories
in the mainland of China for processing food. It is introduced that subject’s
group has a frozen seafood production processing factory in Guangdong Province,
the mainland of China.
It is introduced that subject’s group has
fishing vessels for fishing in South China Sea and Great Pacific Ocean.
Purchase
Information
Subject purchases its products both at home
and abroad.
It is introduced that subject purchases some
products from factories of its group in the mainland of China.
Sales Information
The subject is mainly engaged in sales of food
Subject’s major products include seafood
(including Squid, Scallop, Cuttle Fish, Abalone, Whole Fish, Fish Fillet,
Prawn, Shrimp, Crab Meat, Shellfish), meat (including Various cuts of Pork,
Beef, Poultry, Preserved Meat Product), misc. merchandize (Frizz Drinks, Sodas,
Agriculture Products, Dairy Products, Cooking Oil, Animal Fat, Confectionary,
Seasoning, Spice, Nuts, Fruit Juice)
Subject’s selling territory includes Asia,
Europe, America, Africa and Australia.
Subject’s major customers are supermarkets,
retailers, restaurants, fast food chains and hotels
Settlements
Purchase
Domestic Purchase
|
Products |
Food |
|
Payment Terms |
Cash, T/T |
Import
|
Products |
Food |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Food |
|
Selling Terms |
Cash, T/T |
Export
|
Product |
Food |
|
Selling Terms |
L/C, T/T |
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’s relevant staff rejected to disclose
the financial information, from other sources we could not obtain such
information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
|
Date: |
2003-8-28 |
|
Court Name: |
High Court Companies Winding-Up |
|
Court No.: |
946 |
|
Claimant: |
Eurosia Holdings (China) Ltd 11/F The Leader Comm Bldg. 54-56 Hillwood Rd. TST Kln |
|
Defendant: |
Well Source (Asia) Ltd 16/F Tern Plaza 5 Cameron Rd TST, Kln |
|
Reason: |
Winding Up Petition |
|
2 |
|
|
Date: |
2003-2-11 |
|
Court Name: |
High Court Civil Action |
|
Court No.: |
513 |
|
Claimant: |
Eurosia Holdings (China) Ltd |
|
Defendant: |
Well Source (Asia) Ltd Choi Wing Cheong |
|
Reason: |
Money Due |
|
Amount(HKD): |
HKD 5,000,000 |
Mortgage Record
|
Company Name: |
Eurosia Holdings (China) Limited |
|
Date of Creating Mortgage: |
2002-5-9 |
|
Name and Address of Mortgagee: |
DBS Kwong On Bank Limited of 139 Quceifs
Road Central，Hong Kong ("Bank"). |
Special
Note
Interview Details
|
Department: |
Sales Department |
Industry
Information
01112-- Meat
of bovine animals, boneless, fresh or chilled (kg)
Unit: HKD/000
|
|
2015.6 |
2015.01~2015.6 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Argentina |
4,407 |
415 |
19,353 |
2,218 |
|
Australia |
293,379 |
27,724 |
1,588,784 |
157,006 |
|
Brazil |
111,439 |
3,035 |
879,673 |
26,581 |
|
Canada |
9,158 |
1,512 |
72,806 |
11,040 |
|
USA |
138,394 |
22,042 |
756,212 |
118,121 |
|
Exports |
||||
|
Macao |
17,351 |
3,468 |
83,996 |
16,257 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
We contacted with the subject, the relevant staff, the staff confirm
subject’s address for us.
We made an on-site visit to the supplied address, and confirm the
subject was at this location. However, the name plate on wall belongs to
subject’s parent company.
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong
%20LIMITED%20-%20340921%2018-Sep-2015_files/image012.jpg)
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong
%20LIMITED%20-%20340921%2018-Sep-2015_files/image013.jpg)
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong
%20LIMITED%20-%20340921%2018-Sep-2015_files/image014.jpg)
11th Floor, The Leader Commercial
Building, 54-56 Hillwood Road, Timshatsui, Kolwoon, Hong Kong
%20LIMITED%20-%20340921%2018-Sep-2015_files/image015.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.50 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.75.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.