MIRA INFORM
REPORT
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Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
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Name : |
WITTIS
INTERNATIONAL
COMMUNICATION LTD. |
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Registered Office : |
Flat A & B, 11/F., Wah Lik Industrial Centre, 459-469 Castle Peak Road, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.02.2008 |
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Com. Reg. No.: |
38997180 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Mobile phones, spare parts, 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 : |
Usually Correct |
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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 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
a2 |
a2 |
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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 |
Company name
WITTIS INTERNATIONAL
COMMUNICATION LTD.
Company ADDRESS
Flat A & B, 11/F., Wah Lik Industrial Centre, 459-469 Castle Peak Road, Tsuen Wan, New Territories, Hong Kong.
PHONE: 2416 8991
FAX: 2416 6806
E-MAIL: sales@wittis.com
MANAGEMENT
Chairman: Mr. Ying Ming Kong, Dave
SUMMARY
Incorporated on: 28th February, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Telecommunication Product Trader.
Annual Turnover: HK$220~250 million.
Employees: 15. (Hong Kong)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Flat A & B, 11/F., Wah Lik Industrial Centre, 459-469 Castle Peak Road, Tsuen Wan, New Territories, Hong Kong.
Shenzhen
Representative Office:-
Room 2906-2911, 29/F., Anhui Building, Development Centre, Futian District, Shenzhen, China.
[ Tel: (86-755) 8386 0126
Fax: (86-755)
8386 0127
E-mail: shenzhen@wittis.com.cn]
China Factories:-
Shenzhen Wittis Electronics Co. Ltd.
Second Industry Garden, Xili Hillock South, Songbai Road, Shenzhen,
China.
Tel: (86-755) 2765 7109, 2765 7119,
2765 7129
Fax: (86-755) 2765 7139
Dongguan Wittis Electronics Co. Ltd.
Silver Lake Industrial District, Shi Shui Kou, Bridge Head Town,
Dongguan, Guangdong Province, China.
Tel: (86-769) 8334 0841, 8334 0842
Fax: (86-769) 8345 1273
Holding Company:-
Wittis Group Ltd., British Virgin Islands.
Associated Companies:-
Wittis Communication Technology Ltd., Hong Kong.
Wittis Development Ltd., Hong Kong.
Wittis Electronics Ltd., Hong Kong.
Yoon Chang Telecom Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
38997180
COMPANY FILE NUMBER
1213845
MANAGEMENT
Chairman: Mr. Ying Ming Kong, Dave
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDER
(As per registry dated 28-02-2011)
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Name |
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No. of shares |
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Wittis Group Ltd. Road Town, Pasea Estate, Tortola, British Virgin Islands. |
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1,000,000 ======= |
DIRECTORS
(As per registry dated 28-02-2011)
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Name (Nationality) |
Address |
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YING Ming Kong |
Flat A-B, 11/F., Wah Lik Industrial Centre, 459-469 Castle Peak Road, Tsuen Wan, New Territories, Hong Kong. |
|
HUANG Ting Yu |
Flat A-B, 11/F., Wah Lik Industrial Centre, 459-469 Castle Peak Road, Tsuen Wan, New Territories, Hong Kong. |
SECRETARY
HUANG Ting Yu
(As per registry dated 28-02-2011)
HISTORY
The subject was incorporated on 28th February, 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: Mobile phones, spare parts, etc.
Brand Name: WITTIS.
Office Floor Space: 551 sq.m. in Hong Kong.
Employees: 15. (Hong Kong)
1,650. (China)
Materials/Commodities: Imports raw materials from Europe, Japan, etc. and finished products from China.
Markets: Japan, other Asian countries, Europe, etc.
Annual Turnover: HK$220~250 million.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making 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: Normal.
GENERAL
Wittis International Communication Ltd. is a wholly-owned subsidiary of Wittis Group Ltd. which is a BVI-registered firm. The subject is one of the members of the Wittis Group.
Wittis Group consists of the subject, Wittis Communication Technology Ltd., Shenzhen Wittis Electronics Co. Ltd. and Dongguan Wittis Electronics Co. Ltd. The Group is trading in telecommunication equipment, so does the subject.
In 1988, the Group commenced business in Hong Kong and was engaged in manufacturing. Since 2002, the Group has expanded business to mobile phone manufacturing and has got good reputation in the field.
The Group has been growing fast in this prosper industry under the support of its customers. Currently, the Group has two wholly-owned factories specialised in mobile phone manufacturing.
The Group’s services include tailor-made products for clients. It also offers clients with one-stop service including design from the very beginning to PCBA and to full sets of mobile phones.
The subject is trading in telecommunication equipment. Its products are manufactured on EMS/OEM and ODM terms.
The subject has been equipped with professionals specialised in IDMD, technical and customer supports. The subject is working closely with its clients so that the products fulfil their requirements.
The followings are the brief introduction of the Group’s factories:-
Shenzhen Wittis Electronics Co. Ltd. was established at the beginning of 2003. The factory area is 7,500 sq.m. with fixed assets of HK$40 million. Employing about 650 persons, the Shenzhen Wittis has got the ISO 9001:2000 certification. It offers clients with OEM (SMT and assembly) services for digital products, such as CDMA, GSM and PHS cellular phones. The factory has been equipped with UNIVERSAL, YAMAHA and FUJISU high speed and high accuracy SMT machines, automatic screen printing machines from SunEast, and the reflow ovens from HELLER, which constitute 12 SMT production lines.
The monthly production capacity of this factory is 600,000 to 500,000 units of mobile phones. Its customers include Jinli, Konka, Yulong and Korea Bellwave.
Dongguan Wittis Electronics Co. Ltd. was established at the end of 1995. This factory site covers an area of 25,000 sq.m. while the factory’s usable floor area is 15,000 sq.m. and the area of the employees’ dormitory is 10,000 sq.m. The fixed assets of this factory is HK$85 million. It has about 1,000 employees. It has got the ISO 9001:2000 certification. The main products are high frequency parts (TV-TUNER, RF‑MODULATOR) and OEM products (SMT and assembly). This factory has been equipped with more than 100 sets of YAMAHA high speed and high accuracy SMT machines, automatic screen printing machines from SunEast, the reflow ovens from HELLER and SOLTEC, which constitute 22 SMT production lines.
The monthly production capacity of this factory is 500,000 units of mobile phones. Currently, its customers include Shenzhen Zhongxing, Japan Sanyo, etc.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.
The Chairman of the subject is Mr. Ying Ming Kong. Annual sales turnover of the Group ranges from HK$220 to 250 million.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.94 |
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UK Pound |
1 |
Rs.73.46 |
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Euro |
1 |
Rs.64.58 |
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.