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Report Date : |
17.07.2012 |
IDENTIFICATION DETAILS
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Name : |
HUAQIN TELECOM
HONG KONG LTD. |
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Registered Office : |
Room 2068, 20/F., |
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Country : |
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Date of Incorporation : |
08.06.2006 |
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Com. Reg. No.: |
36830110 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of telecommunication equipment, etc |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small company |
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Payment Behaviour : |
No complaints |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
HUAQIN TELECOM
HONG KONG LTD.
Unit 7, 13/F.,
Telford House, 16 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 2713 3232
FAX: 2713 3799
Managing
Director: Mr. Qiu Wensheng
Incorporated on: 8th June, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Telecommunication Equipment Trader.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HUAQIN TELECOM
HONG KONG LTD.
Registered Office:-
Room 2068, 20/F., 113 Argyle Street, Mong Kok, Kowloon, Hong Kong.
Operating Address:-
Unit 7, 13/F., Telford House, 16 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong.
Holding Company:-
Haiqin Telecom Hongkong Ltd., Hong Kong.
Associated Company:-
Shanghai Huaqin Telecom Technology Co. Ltd., China.
36830110
1050831
Managing
Director: Mr. Qiu Wensheng
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
(As per registry dated 08-06-2012)
|
Name |
|
No.
of shares |
|
Haiqin
Telecom Hongkong Ltd., Hong Kong. |
|
10,000 ===== |
(As per registry dated 08-06-2012)
|
Name (Nationality) |
Address |
|
QIU Wen Sheng |
1 Building, 399 Keyuan Road, Pudong New
Area, Shang Hai, China. |
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CHEN Xiao Rong |
1 Building, 399 Keyuan Road, Pudong New
Area, Shang Hai, China. |
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CUI Guo Peng |
Room 606, Building 1, 188 Du Juan Road,
Pudong, Shanghai, China. |
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WU Zhen Hai |
1 Building, 399 Keyuan Road, Pudong New
Area, Shang Hai, China. |
(As per registry dated 08-06-2012)
|
Name |
Address |
|
CHEN
Huo Cheng |
Flat 12, 31/F., Tsui Lai House, Yau Lai Estate, Yau Tong, Kowloon,
Hong Hong. |
The
subject was incorporated on 8th June, 2006 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the subject was located at “Room 2608, 26/F., 113 Argyle Street, Mongkok,
Kowloon, Hong Kong”, moved to the present address with effect from 31st August,
2010.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Exporter.
Lines: All kinds of telecommunication equipment, etc.
Employees: 2.
Commodities Imported: Europe, China, other Asian countries, etc.
Markets: China, Southeast Asia, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge:-
Date of Security Over Deposits with the Bank Limited Company – Under Seal: 21-04-2008
Amount: To secure all monies in respect of banking facilities
Property: Initially US$2,000,000.00 and all monies hereafter standing to the credit of the company’s deposit account No. 808-200083
Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Making a very small profit in past years.
Condition: Keeping in a normal state.
Facilities: Making rather 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.
Having
issued 10,000 ordinary shares of HK$1.00 each, Huaqin Telecom Hong Kong Ltd. is
a wholly owned subsidiary of Haiqin Telecom Hongkong Ltd. [HTHL] which is
located at “Room 2608, 26/F., 113 Argyle Street, Mong Kok, Kowloon, Hong Kong.” HTHL is a Hong Kong-registered firm.
The
directors of the subject are Mr. Qiu Wensheng, Ms. Chen Xiao Rong, Mr. Cui
Guo Peng and Mr. Wu Zhen Hai. Currently,
all are residing in Shanghai, China.
The
subject’s operating address located at “Unit 7, 13/F., Telford House,
16 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong” is in a private
building.
The
subject has got a main associated company in Shanghai known as “Shanghai Huaqin
Telecom Technology Co. Ltd.” [Shanghai Huaqin], a Shanghai-based firm in
China. Qiu Wensheng is also the
President of Shanghai Huaqin.
The
subject is trading in all kinds of mobile phones, accessories, etc. It has registered with the Communication
Authority [CA], the Government of Hong Kong SAR, bearing the licence No.
of 13236.
Shanghai
Huaqin, a high-technology company, has devoted itself to research and develop
telecom ultimate products. Founded in
June 2005, it is a rather significant telecommunication firm in China.
Shanghai
Huaqin is specialized in researching and developing mobile terminals of GSM/GPRS/EVDO/TD-SCDMA/WCDMA. Meanwhile, it is engaged in studying
strategies of 4G market to make sure of grasping the business opportunity in
the following years.
Shanghai
Huaqin has become a professional designing company from the initial less than
10 to more than 2,200 employees, which is capable of developing over 100 kinds
of mobile phones every year.
It
has acquired support in capital for research and development from the state and
province for many times. Shanghai Huaqin
has got the certification of ISO9001 international quality management system in
“hi-tech achievement transformation projects, such as D838, K110”, etc.,
“application for over 100 invention patents”, “over 45 software product
accreditation projects” and “over 45 software product copyright accreditation
projects”.
Shanghai
Huaqin has had an annual growth rate of over 50% since establishment in 2005,
with customers in possession of a variety of first-class phone brand. Since 2009, the company has exploited a wide
range of overseas markets and will keep on providing better products for
worldwide consumers.
Shanghai
Huaqin has signed a license agreement with Qualcomm Inc. to venture into the 3G
CDMA 2000 telecom equipment market.
Though
the CDMA 2000 telecom equipment is withering, cell phone
makers are still having great interests in it.
Such move of Shanghai Huaqin is aiming at the opportunities brought by
the upgrading of 3G networks of China Telecom after it takes over the CDMA
networks from China Unicom. President of
Shanghai Huaqin Qiu Wensheng said that the partnership with Qualcomm Inc. would
help Shanghai Huaqin provide its customers with better products and services.
Shanghai
Huaqin in 2012 got a number of awards such as the title of One of Top 10 Mobile
Phone Designing Companies, etc.
Qualcomm
Inc. is a leader in developing and delivering innovative digital wireless
communications products and services based on CDMA and other advanced
technologies.
Headquartered
in San Diego, California, the United States, Qualcomm Inc. is included in the
S&P 100 Index, the S&P 500 Index and is a 2008 FORTUNE 500® company
traded on The Nasdaq Stock Market® under the ticker symbol QCOM.
The
business of Shanghai Huaqin in China keeps on expanding.
The
subject is fully supported by Shanghai Huaqin.
On
the whole, consider it good for normal business engagements in small credit
amounts.
|
Date |
Particulars |
Amount |
|
11-01-2012 |
Instrument: Security
Agreement over Bank Account Property: By way of a
first fixed charge all of the Chargor’s rights in respect of any amount
standing to the credit of the Account Mortgagee: Standard
Chartered Bank (China) Ltd., China. |
To secure the payment and satisfaction of all present and future
obligations and liabilities |
|
27-04-2012 |
Instrument: Security
Deed Property: The securities
are all the Obligor’s title, rights and interests, all moneys standing to the
credit of the account. Unit 7, 13/F. Teiford House, 16 Wang Hoi Road, Kowloon
Bay, Kowloon, Hong Kong. Mortgagee: Wing
Lung Bank Ltd., Hong Kong. |
To secure Banking Facilities from time to time granted by Wing Lung
Bank Ltd. to the Company |
|
14-06-2012 |
Instrument: Security
Deed Property: (a) All Proceeds, together with
the right to receive, to sue for recovery and give effectual discharge for
the Proceeds (b) All moneys from time to time
standing to the credit of the Charged Account Mortgagee: Bank
of China Ltd., Hong Kong Branch. |
At any time all principal, interest, fees (including legal fees),
charges, costs, expenses, damages and other moneys |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.92 |
|
|
1 |
Rs.85.47 |
|
Euro |
1 |
Rs.67.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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.