MIRA INFORM REPORT

 

 

Report Date :           

24.11.2011

 

IDENTIFICATION DETAILS

 

Name :

ALLIED  ASCENT  (CHINA)  LTD.

 

 

Registered Office :

c/o Reckon Accounting & Taxation Ltd., Room 1203, 12/F., Kalok Building, 720-722 Nathan Road, Mongkok, Kowloon

 

 

Country :

Hong Kong 

 

 

Date of Incorporation :

25.06.2010

 

 

Com. Reg. No.:

52700064

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

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

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

New Business

 

 

Payment Behaviour :

---

 

 

Litigation :

---

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

ALLIED  ASCENT  (CHINA)  LTD.

 

 

company ADDRESS    

 

c/o Reckon Accounting & Taxation Ltd.

Room 1203, 12/F., Kalok Building, 720-722 Nathan Road, Mongkok, Kowloon, Hong Kong.

PHONE:            2787 6522

FAX:                 2789 3615

 

 

MANAGEMENT

 

Managing Director:  Ms. Fang Hui Ping

 

 

SUMMARY

 

Incorporated on:             25th June, 2010.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$1.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

c/o Reckon Accounting & Taxation Ltd.

Room 1203, 12/F., Kalok Building, 720-722 Nathan Road, Mongkok, Kowloon, Hong Kong.

 

Associated Companies:-

·         Shenzhen Chanying Communication Technology Co. Ltd., China.

·         Shenzhen Psfd Science & Technology Co. Ltd., China.

 

 

BUSINESS REGISTRATION NUMBER

 

52700064

 

 

COMPANY FILE NUMBER

 

1473176

 

 

MANAGEMENT

 

Managing Director:  Ms. Fang Hui Ping

 

 

CAPITAL

 

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

 

Issued Share Capital:     HK$1.00

 

 

SHAREHOLDER  

(As per registry dated 25-06-2011)

 

Name

 

No. of share

FANG Hui Ping

 

1

=

 

DIRECTOR

(As per registry dated 25-06-2011)

 

Name

(Nationality)

 

Address

FANG Hui Ping

Room 1203, 12/F., Kalok Building, 720-722 Nathan Road, Mongkok, Kowloon, Hong Kong.

 

 

SECRETARY

(As per registry dated 25-06-2011)

 

Name

Address

Co. No.

Reckon Accounting & Taxation Ltd.

Room 1203, 12/F., Kalok Building, 720-722 Nathan Road, Mongkok, Kowloon, Hong Kong.

0894102

 

 

HISTORY

 

The subject was incorporated on 25th June, 2010 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, Exporter and Wholesaler.

 

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

 

Employees:                   Nil.

 

Commodities Imported:   China, etc.

 

Markets:                       India, other Asian countries, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, T/T, D/P, etc.

FINANCIAL INFORMATION

 

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

 

Issued Share Capital:     HK$1.00

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Making fairly 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

 

Allied Ascent (China) Ltd. is wholly-owned by Ms. Fang Hui Ping who is Chinese businesswoman.  She is a China ID holder and does not have the right to reside in Hong Kong permanently.  She is also the only director of the subject.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 1203, 12/F., Kalok Building, 720‑722 Nathan Road, Mongkok, Kowloon, Hong Kong known as Reckon Accounting & Taxation Ltd. which is handling its correspondences and documents.  This firm is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

To our knowledge, the subject is a mobile phone and accessories trader.

The subject has registered with the Office of the Telecommunications Authority [OFTA], The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee.  It bears the licence No. of RU00148406-RU.

The subject has had two main associated telecommunication companies in Shenzhen Special Economic Zone, China.  The name of these two firms are:-

Shenzhen Chanying Communication Technology Co. Ltd. [Chanying]

Shenzhen Psfd Science & Technology Co. Ltd. [Psfd]

The brand name “Carlvo” belongs to Chanying and the subject.  Chanying is one of the largest mobile phone manufacturers in China.  The subject is exporting its products.  Products are exported to Southeast Asia, the Middle East, Africa, Latin America, etc.  The annual production capacity of Chanying is about 6 million units of hand sets.  The brand name “Carlvo” has been registered with the Hong Kong SAR Government.

Another associated company of the subject in China is Psfd.  Founded in the year 2004, Psfd is a young enterprise which is specialized in R&D, production and marketing mobile phones.  This firm has set up its own R&D department and receives OEM orders.

It is also likely that Chanying deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  Chanying also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active.  History in Hong Kong is just about a year and five months.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.10

UK Pound

1

Rs.81.30

Euro

1

Rs.70.07

 

 

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%)

 

 

 

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.