MIRA
INFORM REPORT
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Report Date : |
20.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
RIDGETECH ELECTRONIC TECHNOLOGIES LTD. |
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Registered Office : |
Room 2813-2816, 28/F., Tower 1, Metroplaza, 223 Hing Fong Road,
Kwai Chung, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.12.1990 |
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Com. Reg. No.: |
14122832 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer, Importer and Exporter of Transformers, etc |
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 : |
Regular |
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Litigation : |
Clear |
name of the company
RIDGETECH
ELECTRONIC TECHNOLOGIES LTD.
ADDRESS
Room 2813-2816, 28/F.,
Tower 1, Metroplaza, 223 Hing Fong Road, Kwai Chung, New Territories, Hong
Kong.
PHONE: 2418 2393
FAX: 2418 2292
(Your enquiry
given as: RIDGETECH ELECTRONICS TECHNOLOGICS LTD of the same address)
Credit Request: Good for credit of US$500,000 against
D/A terms.
MANAGEMENT
Managing
Director: Mr. Yang Shu Chu, Philip
SUMMARY
Incorporated on: 11th December, 1990.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Manufacturer,
Importer and Exporter.
Employees: 20. (Including affiliates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 2813-2816,
28/F., Tower 1, Metroplaza, 223 Hing Fong Road, Kwai Chung, New Territories,
Hong Kong.
Main China Factory:-
Ridgetech
Electronic Technologies (Shenzhen) Ltd.
224, Renmin North
Road, Longhua, Shenzhen, China.
[Tel: 86-755-2770
1752; Fax: 86-755-2770 1751]
Affiliated Companies:-
Hong Kong Ka Lee
Enterprise Co., Hong Kong.
Star Mount
Enterprise Ltd., Hong Kong.
Viscount Cycle
(Far East) Ltd., Hong Kong.
Viscount Cycle
Electronic Technology Ltd., Hong Kong.
etc.
BUSINESS REGISTRATION NUMBER
14122832
COMPANY FILE NUMBER
293527
MANAGEMENT
Managing
Director: Mr. Yang Shu Chu, Philip
Director &
General Manager: Mr. Wu Hsin Hong,
Simon
CAPITAL
Nominal Share
Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital:
HK$500,000.00
SHAREHOLDERS
(As per registry dated 11-12-2007)
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Name |
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No. of shares |
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YANG Chiu Tsei |
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125,000 |
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YANG Shu Chu,
Philip |
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125,000 |
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LIN Yeou Shan |
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125,000 |
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WU Hsin Hong |
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125,000 |
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––––––– |
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Total: |
500,000 ====== |
DIRECTORS
(As per registry dated 11-12-2007)
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Name (Nationality) |
Address |
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YANG Chiu Tsei |
(251) 1-5, Che Lu Chiao, Hsing Jen Li Tam
Shui, Chen Tai Pei, Taiwan. |
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YANG Shu Chu,
Philip |
Flat H, 31/F., Block 2, Kwai Chung Plaza,
Kwai Fong, New Territories, Hong Kong. |
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LIN Yeou Shan |
3F, No. 253 Chien I Road, Chung Ho City,
Taipei, Taiwan. |
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WU Hsin Hong |
4/F., No. 11, Alley 1, Lane 421, Nan Shan
Road, Chung Ho City, Taipei, Taiwan. |
SECRETARY
(As per registry dated 11-12-2007)
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Name |
Address |
Co. No. |
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Acumen
Consultants Ltd. |
1/F., Sunning Plaza, 10 Hysan Avenue, Causeway Bay, Hong Kong. |
96508 |
HISTORY
The subject was incorporated
on 11th December, 1990 as a private limited liability company under the Hong
Kong Companies Ordinance.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer, Importer and Exporter.
Lines: Transformers, etc.
Employees: 20. (Including affiliates)
Materials/Commodities: Imports raw materials from European countries, some Asian countries and finished products from China.
Markets: Taiwan, other Asian countries, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$500,000.00
Profit & Loss: Business is profitable.
Condition: Keeping in an active state.
Facilities: Adequate for current running.
Payment: So far so good.
Commercial Morality: Good.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued
500,000 ordinary shares of HK$1.00 each, Ridgetech Electronic Technologies Ltd.
is jointly owned by Mr. Yang Chiu Tsei, holding 25% interest; Mr. Philip Yang
Shu Chu, holding 25%; Mr. Lin Yeou-Shan, 25%; and Mr. Wu Hsin-Hong, also 25%.
The subject has
got an affiliated factory in Shenzhen Special Economic Zone known as Ridgetech
Electronic Technologies (Shenzhen) Ltd. [Ridgetech Shenzhen].
Ridgetech Shenzhen
is a joint venture established by Long Sail Electronic Co. Ltd. [Long Sail] and
Viscount Cycle (Far East) Ltd. [Viscount Cycle] in 1993. With a registered capital of HK$10 million,
Ridgetech Shenzhen has got technology and management supported from Long Sail. The factory is located in Shenzhen, China
covering an area of about 33,000 sq.m.
Main products are switching mode power transformers, inductor systems,
EMI filter choke systems, SMD transformers, common mode choke systems,
communication transformer systems, linear transformers. Major customers come from Taiwan and North
America, and Taiwan companies in Mainland China. There are about 800 employees in the China factory and the number
is still increasing.
The subject has
got a number of affiliated companies located at its operating office. The principal ones are Hong Kong Ka Lee
Enterprise Co. and Viscount Cycle. All
these firms belong to the Viscount Group which includes a number of
companies. Viscount Group is controlled
by Mr. Charlie T. Yang and his family.
Mr. Charlie T. Yang, who is a Taiwanese, is also the President of the
Viscount Group.
Incorporated on
11th October, 1988 and having issued 200,000 ordinary shares of HK$1.00 each,
Viscount Cycle is jointly owned by Mr. Yang Chiu Tsei who holds 100,000
shares, accounting for 50%; Mrs. Liao Chen Youn Fie, holds 50,000 shares,
25%, and Mr. Philip Yang Shu Chu, also 25%.
The business of
the subject and Viscount Cycle is mainly controlled by the Yang family.
On the whole, in
view of the subject’s background, consider it good for normal business
engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.32 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)