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MIRA
INFORM REPORT
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Report Date : |
23.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SUBH OVERSEAS
(HK) LIMITED |
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Registered Office : |
20/F, Champion
Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong Island |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.04.2007 |
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Com. Reg. No.: |
1122994 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Manufacture of electronic valves & tubes & other electronic
components |
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 OVERVIEW
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CORPORATE STRUCTURE
The following statutory information is based on
the examination of Subject's file at the Companies' Registry (CR), Hong Kong. (For Public
Limited Company - Listed, only Substantial Shareholders ("SS") are
listed, as based on the latest available annual or interim reports. It is
noted that some of the shares held (including long, short and other
positions) might have been duplicated due to capacities of "Beneficial
owner", "Interest of controlled corporation", "Interest
of spouse", "Family interest", etc., which mean the total
number of shares held by SS may exceed the authorized and/or issued shares.
Duplicate holding (if any) will be elaborated under the "Notes to
Substantial Shareholders" on the Structure Remark section.)
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HISTORY SUMMARY
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Change of
Ownership & Capital/ Share Allotment/Other Changes |
N/A |
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Appointment
and/or Resignation of Directors or Secretary |
N/A |
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Admission or
Retirement of Sole Proprietor/Partner |
N/A |
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Parent |
N/A |
RELATED NEWS /FINDINGS
Due to the nature of the information learned, we
are responding in narrative format.
There is no telephone listing found on Subject and its sole shareholder and
director.
We visited the registered address (also the given one) but could not find
Subject's name on the building directory.
We further visited the registered unit and found that it is the office of
Subject's secretarial service provider Akin Professionals Limited (Tel:
25414224). Interviewed a staff Miss Catherine CHENG there, divulged that
Subject is their client maintaining the registered office there but declined to
release any further information on the grounds of professional ethics. Message
was left for Subject but no reply was received during the report compilation.
Through internet searches, we managed to find the website of Subject's
representative office and the basic information as below:
Company Name: Subh Overseas (HK) Limited Shenzhen R.O.
Street Address: Room No.3616C, Huishang Zhongxin, JiaHui Xincheng, Opp Shanghai
Hotel, ShenNan Road, Futian
City: shenzhen
Province/State: Guangdong
Country/Region: China (Mainland)
Zip: 518033
Telephone: 86-755-83035274
Fax: 86-755-83039253
Mobile: 86-15816861700
Email: chinagoods@gmail.com
Website: http://www.subhoverseas.com (for registered user only)
http://www.xfivemobile.com
http://subh.en.alibaba.com/index.html
Business Type: Manufacturer, Distributor/Wholesaler
Product/Service: MOBILE,PHONE,MOBILE PHONE,CELL PHONE,CELLULAR
Product/Service: MOBILE,PHONE,MOBILE PHONE,CELL PHONE,CELLULAR
Brands: XFIVE
Number of Employees: 11 - 50 People
Trade & Market
Main Markets: North America
South America
Southeast Asia
Africa
Mid East
Eastern Asia
Main Customers: INDIA, DUBAI, AFRICA, INDONESIA, USA, SOUTH AMERICA
Total Annual Sales Volume: Above US$100 Million
Export Percentage: 91% - 100%
Total Annual Purchase Volume: Above US$100 Million
Factory Information
QA/QC: In House
Number of R&D Staff: 5 - 10 People
Number of QC Staff: 5 - 10 People
Management Certification: Others
Contract Manufacturing: OEM Service Offered Design Service Offered Buyer Label
Offered
We called the above numbers and contacted
Mr. Yogesh Singhal, alleged the Manager. He only divulged taht Subject's sole
director was in India and the line was cut due to the weak signal in the
communication. We repeatedly tried to call him again however it was
unsuccessful due to the weak signal.
MANAGEMENT BACKGROUND
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Profile/Responsibility
and Business Capacity indicated are based on -on-file, sources, and
enquiries and investigations recently conducted but do not necessarily
represent the full or most updated records. For example, the status indicated
under Business Capacity is based on the date shown (if available) as
recorded, which might have been changed at the time the report is compiled. |
FINANCIAL
Current
Interviews & Investigations Its sole
shareholder and director was not reachable for interview during the report
compilation. |
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Private
companies in Hong Kong (include private limited, sole proprietorship
and partnership) are not required to file or disclose their financial
information for public inspection. |
GROUP PROFILE & FINANCIALS
N/A |
BANKING
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TRADE RECORD
A trade survey currently conducted reveals the
following:
First Second
Type of Supplies Materials Materials
Time Known 3
Years 2.5
Years
Highest Credit 80000 70000
Outstanding Balance 10000 10000
Terms 30
days net 30
days net
Pay Record As
Agreed As
Agreed
Overall Trade Reputation Average
TOTAL DEBT SCANNER (TDS)
TDS reveals if subject has been listed as debtor in
our debt database in the past 5 years and that is subject to the "Code
of Practice on Consumer Credit Data" issued by Office of the
Privacy Commissioner for Personal Data, Hong Kong. Accounts are sometimes
placed for collection even though the existence or amount of the debt is
disputed. It should be noted that the collection record contained in the report
might have been paid, terminated, vacated, settled or released prior to the
date of report compiled.
Search Result:
Subject
None found in our database
Related Members
None found in our database
Related Companies
None found in our database
PUBLIC FILINGS
Mortgages and
Charges (M&C)
M&C records, if any, are extracted from the
Companies Registry, Hong Kong ("CRHK"). Details of "Creating
Instrument" and "Description of Property Mortgaged or Charged"
are available subject to the prevailing fees as per document charged by CRHK.
Please indicate/select "Full Mortgage/Charge" when ordering our
services/reports (e.g.: Total Limited Company Search or Total Company Credit
Report). Request for Full mortgage/Charge made 7 days after the report delivery
will be treated as a new order and is subject to our "Official Document
Retrieval (ODR)" service charge + related government fees. M&C brief
particulars may not be available from CRHK for mortgage/charge registered
before 28 Feb 2005.
Records filed in: N/A
Total Amount outstanding as of the date of this Return on all mortgages
and charges which are required to be registered with the Registrar of Companies
pursuant to sections 80 and 82 of the Companies Ordinance: Nil
TOTAL WRIT SCANNER (TWS)
TWS reveals if subject has been listed as defendant,
plaintiff, in liquidation or bankruptcy within our court database in the past 7
years and that is subject to the "Code of Practice on Consumer
Credit Data" issued by Office of the Privacy Commissioner for
Personal Data, Hong Kong. It should be noted that the court record contained in
a report might have been paid, terminated, vacated, settled or released prior
to the date of a report was compiled. Civil claims are filed as the result of
disputes of a commercial or other nature. The defendant is not liable nor the
plaintiff eligible to the claim until judgement is obtained from the relevant
court, which is not open for public inspection at present.Only the latest 50
records will be shown when total records exceed 50.
Search Result:
Subject
As Defendant
None found in our database
As Plaintiff
None found in our database
Comments
N/A
Related Members
As Defendant
None found in our database
Comments
N/A
Related Companies
As Defendant
None found in our database
Comments
N/A
OPERATION & ACTIVITIES
Business Lines
Principal Business Line Manufacturing
and distribution of mobile phones and electronic applicants (as reported)
Second Business Line N/A
Product/Production
China Factory N/A
Size of China Factory (sq. ft.) N/A
No. of Staff / Workers in China (or Overseas) N/A
Product / Production Remarks N/A
Supplies/Purchases
Hong Kong and
China
Types of Supplies N/A
Buying Terms N/A
Overseas
Import Countries N/A
Types of Supplies N/A
Buying Terms N/A
Remarks N/A
Markets
Major Market N/A
Minor Market N/A
Selling Products / Services N/A
Selling Terms N/A
Remarks N/A
Brands
Own Brands XFIVE
OEM (Clients) Brands N/A
Remarks N/A
Premises and Staff
Hong Kong Office
Area (sq. ft.) N/A
Type Commercial
Staff Range N/A
China Office
Staff Range N/A
Premises Remarks Maintaining
its registered office at the captioned address, which is the office of its
company secretary, at a commercial building.
Total No. of Staff in Hong Kong (China) Not learned
TOTAL PROPERTY OWNERSHIP SEARCH
(TPOS)
TPOS reveals if subject has been involved in
property transaction record in our database since 1996. TPOS does not
represent the full record or history of all transactions relating to the
registered charges, mortgages or ownerships. Some of the charges, mortgages or
ownerships might have been released and/or changed. There could be latest
mortgages, charges, ownerships or transactions not reflected. TPOS also
checks on Subject's shareholder, director, sole proprietor, partner
(collectively listed under "Related Members" in this section)
and/or related company while related records will be revealed when appropriate.
Search Result:
Subject
No Trace
Related Members
No Trace
Related Companies
No Trace
Abbreviations:
S&P = Sales and Purchase
GBF = General Banking Facilities
N/A = Not Available/Applicable
RELATED COMPANIES
Related companies mean Parent Company, Subsidiary
Company, Director's Other Business/Capacity, etc.
N/A
SUMMARY
Subject appears to
be an Indian-owned and operated manufacturer and exporter of mobile phones and
electronic products with operation based in China but maintaining only its
registered address locally.
Despite repeated attempts of investigations and enquiries we have been unable
to contact Subject's directors and management
for interview.
Some sections in this report are resulted as _N/A- or -Not learned- due to the
unavailability of related information.
In view of the above, we now cease our investigation and advise caution should
be taken. No credit appraisal or scoring could facilitated.
ECONOMIC AND TRADE INFORMATION ON HONG KONG
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|
2008 |
2009 |
2010 |
Forecast/Latest |
|
Population,
Mid-year (million) |
6.98 |
7.00 |
7.07 |
7.10a |
|
Gross Domestic
Product (US$billion) |
215.0 |
208.0 |
223.6 |
240.3-242.6b |
|
Real GDP Growth
(%) |
+2.3 |
-2.7 |
+7.0 |
+5-6b |
|
GDP Per Capita
(US$) |
30,800 |
29,700 |
31,600 |
33,900-34,200b |
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Inflation (%
Change in Composite CPI) |
+4.3 |
+0.5 |
+2.4 |
+4.3c |
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Unemployment
Rate (%) |
3.6 |
5.4 |
4.4 |
3.5d |
a end-2010; b government forecast
for 2011; c January-May 2011; d March-May 2011
Merchandise Trade Performance
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2009 |
2010 |
January-May 2011 |
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US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
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Total Exports |
316.5 |
-12.6 |
388.6 |
+22.8 |
169.8 |
+17.0 |
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Domestic Exports |
7.4 |
-36.4 |
8.9 |
+20.4 |
3.7 |
+9.0 |
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Re-exports |
309.1 |
-11.8 |
379.7 |
+22.8 |
166.0 |
+17.2 |
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Imports |
345.2 |
-11.0 |
431.4 |
+25.0 |
190.2 |
+15.8 |
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Total Trade |
661.7 |
-11.8 |
820.0 |
+23.9 |
359.9 |
+16.4 |
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Trade Balance |
-28.6 |
N/A |
-42.8 |
N/A |
-20.4 |
N/A |
Service Trade Performance
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|
2009 |
2010 |
January-March 2011 |
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US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
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Exports |
85.9 |
-6.8 |
106.0 |
+23.4 |
28.6 |
+16.9 |
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Imports |
43.7 |
-7.1 |
50.7 |
+16.0 |
13.0 |
+11.0 |
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Total Trade |
129.6 |
-6.9 |
156.7 |
+20.9 |
41.6 |
+15.0 |
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Trade Balance |
42.2 |
N/A |
55.3 |
N/A |
15.6 |
N/A |
Current Economic
Situation
· The world's freest economy
· The world's most services-oriented economy (services sectors accounting for more than 90% of GDP)
· The world's second highest per capita holding of foreign exchange reserves
· The world's tenth largest foreign exchange reserves holding
· The second largest source of foreign direct investment (FDI) in Asia
· The second largest recipient of FDI in Asia
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.82 |
|
|
1 |
Rs.75.48 |
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Euro |
1 |
Rs.66.10 |
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 |
|
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 |
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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 |
-- |
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.