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Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
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Name : |
O-NINE
COMMUNICATION TECHNOLOGY INTERNATIONAL LTD. |
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Registered Office : |
c/o Hongkong Huasheng Registrations Ltd., Room 1701, 17/F., Henan Building, 90 Jaffe Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.06.2010 |
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Com. Reg. No.: |
52439752 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is a mobile phone trader |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating Office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Hong Kong - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
|
Source
: CIA |
O-NINE COMMUNICATION
TECHNOLOGY INTERNATIONAL LTD.
c/o Hongkong Huasheng Registrations Ltd.
Room 1701, 17/F., Henan Building, 90 Jaffe Road, Wanchai, Hong Kong.
PHONE: 3173 3712, 6060 5711
FAX: 3173 3713
E-MAIL: tonny@oninemobile.com
Managing Director: Mr. Lou Xuedong
Incorporated on: 14th June, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Mobile Phone Trader.
Employees: Nil.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Hongkong Huasheng Registrations Ltd.
Room 1701, 17/F., Henan Building, 90 Jaffe Road, Wanchai, Hong Kong.
Associated
Companies:-
Shenzhen O-Nine Communication Technology International Ltd.
Room 2, 2/F., North Wing, Vision Business Park, Nanshan District, 518000 Shenzhen Special Economic Zone, China.
[Tel: +86 755
26716719 Fax: +86 755
26716665]
Hangzhou Jiuchong Numerical Technology Co. Ltd.
Room 806, Jun Hao Ge, Dong Fang Hao Yuan, Shangtang Road, Hangzhou, Zhejiang Province, China.
52439752
1468636
Managing Director: Mr. Lou Xuedong
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
(As per registry
dated 14-06-2012)
|
Name |
|
No. of shares |
|
LOU Xuedong |
|
3,900,000 |
|
WANG Yonghuo |
|
1,000,000 |
|
MU Guoli |
|
100,000 |
|
|
|
–––––––– |
|
|
Total: |
5,000,000 ======= |
(As per registry
dated 14-06-2012)
|
Name (Nationality) |
Address |
|
LOU Xuedong |
Room 806, Jun Hao Ge, Dong Fang Hao Yuan, Shangtang Road, Hangzhou, Zhejiang Province, China. |
(As per registry
dated 14-06-2012)
|
Name |
Address |
Co.
No. |
|
Hongkong Huasheng Registrations Ltd. |
Room 1701, 17/F., Henan Building, 90 Jaffe Road, Wanchai, Hong Kong. |
1268633 |
The subject was incorporated on 14th June, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Unit 2208-2209, 22/F., Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong where was the operating address of SBC Corporate Services Ltd., moved to the present address in May 2011 as the subject has changed its commercial service provider since then.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Mobile Phone Trader.
Lines: All kinds of mobile phones and accessories, etc.
Brand Name: G&L (China), O-NINE (overseas).
Employees: Nil.
Commodities Imported: China.
Markets: China, Japan, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, or as per contracted.
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
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: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Small.
Having issued 5 million ordinary shares of HK$1.00 each, O-Nine Communication Technology International Ltd. is jointly owned by Mr. Lou Xuedong, holding 78% interests; Mr. Wang Yonghuo, holding 20%; Mr. Mu Guoli, 2%. The first is also the only director of the subject who is a China merchant. He is a China ID holder and does not have the right to reside in Hong Kong permanently. Currently, he is residing in Hangzhou City, Zhejiang Province, China.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room 1701, 17/F., Henan Building, 90 Jaffe Road, Wanchai, Hong Kong” known as “Hongkong Huasheng Registrations 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. However, it has had a representative in Hong Kong Mr. Tonny who can be reached at his mobile phone number 6060 5711.
The subject is a mobile phone trader. It has registered with the Communications Authority (CA), The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of RU00146084-RU.
The subject has had an associated factory in China which is engaged in manufacturing all kinds of mobile phones bearing the brand names of G&L and O-NINE. The former is for China market while the latter for foreign markets.
The subject has had an associated company in Shenzhen Special Economic Zone, China known as Shenzhen O-Nine Communication Technology International Ltd. [Shenzhen O-Nine]. It is a legal enterprise with Mobile Phone License authorized by the government. And it is a high-tech company dedicated to mobile phone's research and development, manufacturing and sales.
Shenzhen O-Nine is establishing marketing channels and services facilities throughout the world.
Besides Shenzhen O-Nine, the subject has had another associated company in China known as Hangzhou Jiuchong Numerical Technology Co. Ltd. [Jiuchong]. It is wholesaling mobile phones, computer and peripherals, software, automatic equipment, instruments and metres, office consumable products, etc. With a registered capital of RMB1 million Yuan, Jiuchong was incorporated on 1st November, 2000. Having about 5 employees, Jiuchong is also operated by Lou Xuedong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over two years.
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.55.65 |
|
UK Pound |
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.69.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.