MIRA INFORM REPORT

Report No. :	505145.2
Report Date :	07.05.2018

IDENTIFICATION DETAILS

Name :	OASIS HONG KONG
Registered Office :	Room B, 1/F., Kui Ga Court, 25 Cooke Street, Hung Hom, Kowloon
Country :	Hongkong
Date of Incorporation :	14.12.2007
Com. Reg. No.:	38741795-000-12
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Exporter and Wholesaler of Fashion and Fashion Accessories, Mobile Phone and Antenna, Batteries, Maws (Insignificant).
No. of Employees :	1

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Small Company
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Hongkong	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

HONGKONG - 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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.

Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly. The lower and middle-income segments of the population increasingly find housing unaffordable.

Hong Kong's open economy has left it exposed to the global economic situation. Its continued reliance on foreign trade and investment makes it vulnerable to renewed global financial market volatility or a slowdown in the global economy.

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 surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. After peaking in 2014, overall tourist arrivals dropped 2.5% in 2015 and 4.5% in 2016. The tourism sector rebounded in 2017, with visitor arrivals rising 3.2% to 58.47 million. Travelers from Mainland China totaled 44.45 million, accounting for 76% of the total.

The Hong Kong Government is promoting the Special Administrative Region (SAR) as the preferred business hub for 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, RMB trade settlement is allowed, and investment schemes such as the Renminbi Qualified Foreign Institutional Investor (RQFII) Program was first launched in Hong Kong. Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 trillion RMB at the end of 2014 to 559 billion RMB at the end of 2017, while RMB trade settlement handled by banks in Hong Kong also shrank from 6.8 trillion RMB in 2015 to 3.9 trillion RMB in 2017.

Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 66% 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. 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 (CEPA), adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, which took effect in March 2015, cover a negative list and a most-favored treatment provision. On the basis of the Guangdong Agreement, the Agreement on Trade in Services signed in November 2015 further enhanced liberalization, including extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland, reducing the restrictive measures in the negative list, and adding measures in the positive lists for cross-border services as well as cultural and telecommunications services. In June 2017, the Investment Agreement and the Agreement on Economic and Technical Cooperation (Ecotech Agreement) were signed under the framework of CEPA.

Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Hong Kong- Shenzhen Stock Connect the Mutual Recognition of Funds, and the Bond Connect scheme are all important steps towards opening up the Mainland’s capital markets and have reinforced Hong Kong’s role as China’s leading offshore RMB market. Additional connect schemes such as ETF Connect (for exchange-traded fund products) are also under exploration by Hong Kong authorities. In 2017, Chief Executive Carrie LAM announced plans to increase government spending on research and development, education, and technological innovation with the aim of spurring continued economic growth through greater sector diversification.

Source : CIA

Company name and address

OASIS HONG KONG

ADDRESS: Room B, 1/F., Kui Ga Court, 25 Cooke Street, Hung Hom, Kowloon, Hong Kong.

MANAGEMENT

Manager: Mr. Moun Siraj Koppala

SUMMARY

Establishment: 14th December, 2007.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Importer, Exporter and Wholesaler.

Employee: 1.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Head Office:-

Room B, 1/F., Kui Ga Court, 25 Cooke Street, Hung Hom, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

38741795-000-12

MANAGEMENT

Manager: Mr. Moun Siraj Koppala

SOLE PROPRIETOR

Name: Mr. Moun Siraj KOPPALA

Residential Address: Flat A-5, 3/F., Foklin Building, 21 Baker Court, Hunghom, Kowloon, Hong Kong.

HISTORY

The subject was established on 14th December, 2007 as a sole proprietorship concern owned by Mr. Moun Siraj Koppala under the Hong Kong Business Registration Regulations.

At the very beginning, the subject was located at ‘Shop No. 64A, 1/F., Mirador Mansion, 54-58 Nathan Road, Tsimshatsui, Kowloon, Hong Kong’, moved to ‘Room B1, 1/F., Kui Ga Court, 25 Cooke Street, Hung Hom, Kowloon, Hong Kong’ in July 2009; to ‘Room 1705, 17/F., Singga Commercial Building, 148 Connaught Road West, Sai Ying Pun, Sheung Wan, Hong Kong’ in April 2015 and further moved to the present address in October 2017.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Fashion and Fashion Accessories, Mobile Phone and Antenna, Batteries, maws

(insignificant).

Employee: 1.

Commodities Imported: China, other Asian countries, etc.

Markets: India, other Asian countries, etc.

Terms/Sales: As per contracted.

Terms/Buying: CAD or as per contracted.

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Made small profits in past years.

Condition: Keeping in a normal manner.

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.

GENERAL

Oasis Hong Kong is a sole proprietorship set up and owned by Mr. Moun Siraj Koppala.

He is a Hong Kong ID card holder and has got the right to reside in Hong Kong. He is also manager of the subject.

He has been in Hong Kong for a very long time as he has got his Hong Kong ID card before setting up the subject.

The registered address of the subject is located at ‘Room B, 1/F., Kui Ga Court, 25 Cooke Street, Hung Hom, Kowloon, Hong Kong’ where is in a residential building. Kui Ga Court is a private building which is not trespassed by outsiders.

The subject is trading in the following commodities:

· Fashion Accessories - Feather (Peacock sort & plumages), Bird - Artificial , Feather (Peacock feathers, Peacock Hurl), Stock Lots (Sundries stock lots)

· Mobile Phone and Antenna (CDMA phone terminal coaxial antennas & accessories),

· Mobile Phone Battery (NI-MH battery & Li-ion battery);

· Sundry Products

· Maws and other dried seafood products (side lines).

Commodities are chiefly sourced from China and the other Asian countries. Prime markets are the Middle East, Taiwan, India, Southeast Asia, the other Asian Countries, etc. Business is normal.

The subject’s business is chiefly handled by Moun Siraj Koppala himself. History in Hong Kong is over ten years and four months.

On the whole, consider it good for normal business engagements in small credit amounts.

REMARKS

We confirmed that the subject is also trading in ‘dried marine products, dried fish maws.

The main supplier of maws is M/s Vahidkhan Zahurkhan Pathan. This company is providing the subject with Dara Fish Maws, Airvaam Fish Maws and Kuth Fish Maws, etc.

We do not mention these as fish maws are not the core business of the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.77
UK Pound	1	INR 90.58
Euro	1	INR 79.97
HKD	1	INR 8.55

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.