MIRA INFORM REPORT

 

 

Report Date :

24.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ALKSTONE  TELECOMMUNICATION  LTD.

 

 

Registered Office :

Suite 1009, 10/F., Silvercord, Tower 1, 30 Canton Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

14.07.2008

 

 

Com. Reg. No.:

39583348

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of all kinds of mobile phones, accessories, etc.

 

 

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 :

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

ALKSTONE  TELECOMMUNICATION  LTD.

 

 

Company ADDRESS

 

Suite 1009, 10/F., Silvercord, Tower 1, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2446 1740

FAX:                 2446 1742

E-MAIL:            info@alkstone.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Hemang Bhagwandas Shah

 

 

SUMMARY

 

Incorporated on:             14th July, 2008.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$100.00

 

Business Category:        Importer and Exporter.

 

Annual Turnover:            HK$42~45 million  (Including affiliates)

 

Employees:                   4.  (Including affiliates)

 

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

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Registered Head Office:-

Suite 1009, 10/F., Silvercord, Tower 1, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Factory:-

Lite Source Manufacturing Co.

1, 14 Pingyuan Zhijie, Fen Jiang Nan Road, Foshan City, Guangdong Province, China.

[Tel: (86-757) 8398 7888;  Fax: (86-757) 8398 7168]

 

Associated/Affiliated Companies:-  (Same address)

Lite Source Manufacturing Co. Ltd., Hong Kong.

Lite Source Manufacturing Co., Hong Kong.

Portege Corporation Ltd., Hong Kong.

Zytel Industries Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

39583348

 

 

COMPANY FILE NUMBER

 

1256564

 

 

MANAGEMENT

 

Managing Director:  Mr. Hemang Bhagwandas Shah

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$100.00

 

SHAREHOLDERS

(As per registry dated 14-07-2010)

 

Name

 

No. of shares

Reena Hemang SHAH

 

75

Hemang Bhagwandas SHAH

 

25

 

 

–––

 

Total:

100

===

 

 

DIRECTORS

(As per registry dated 14-07-2010)

 

Name

(Nationality)

 

Address

Hemang Bhagwandas SHAH

Suite 1009, 10/F., Silvercord, Tower 1, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

 

Reena Hemang SHAH

Suite 1009, 10/F., Silvercord, Tower 1, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

SECRETARY

(As per registry dated 14-07-2010)

 

Name

Address

Co. No.

Megateam Corporate Services Ltd.

Room 2205-2206, 22/F., Alliance Building, 133 Connaught Road Central, Hong Kong.

0918281

 

 

HISTORY

 

The subject was incorporated on 14th July, 2008 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:                      Importer and Exporter.

 

Lines:                           All kinds of mobile phones, accessories, etc.

 

Employees:                   4.  (Including affiliates)

 

Commodities Imported:   Europe, Asian countries, etc.

 

Markets:                       North America, South America, Australia, Europe, Russia, Asian countries, etc.

 

Annual Turnover:            HK$42~45 million  (Including affiliates)

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, D/P, O/A, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:  HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$100.00

 

Profit or Loss:                Suffering from a small loss in 2009.

 

Condition:                      Business is under development.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Fairly satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 100 ordinary shares of HK$1.00 each, Alkstone Telecommunication Ltd. is jointly owned by Mr. Reena Hemang Shah, holding 75% interests; and Mr. Hemang Bhagwandas Shah, holding 25%.

Incorporated in July 2008, the subject is trading in all kinds of mobile phones.  It is one of the suppliers of telecommunications and IT products in Hong Kong.  The subject is a professional manufacturer of mobile phones and mobile phone accessories.  It can also supply related electronic products such as GPS, USB flash disk, memory card, MP3/MP4 player, bluetooth products etc.

The subject has a lot of partners to cooperate with it for a long-term relationship, and also it has got wide networks for electronic products.  Its products are mainly exported to North America, South America, Australia, Europe, Russia, Asian countries, etc.

According to the subject, in 2008, it established a factory engaged in manufacturing mobile phones.  The subject has built business relations with the largest Asia raw material suppliers and other China based electronic products manufacturer.  In 2009, the subject built a wholesale platform (Mobile-Phones, CN), which provides its customers with a fast trading online marketplace as well as real time product information.

According to the subject, its professional workers in its factory are good at developing ACTION, ROCKCHIP, SIGMATEL, and other popular programs, and exploring and integrating a variety of advanced features, such as FM launch, bluetooth, TV and touch screen etc.  Moreover, SIGMATEL, ACTION, SAMSUNG, and other IC companies provide it with professional technical support.  The subject can also produces both plastic and metal shell in its factory.

The subject has had an associated company Portege Corporation Ltd. [Portege] located at its operating office.  Portege is also owned by the two Shahs.  However, this firm is trading in furniture fitting hardware, light fitting, electronics and building materials, etc.

Since the history of the subject in Hong Kong is just over two and a half years, on the whole, consider it good for normal business engagements on secured basis.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.70

UK Pound

1

Rs.72.78

Euro

1

Rs.61.65

 

 

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

 

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%)

 

 

 

 

 

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.