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Report Date : |
10.05.2012 |
IDENTIFICATION DETAILS
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Name : |
FESICU
HONG KONG LTD |
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Registered Office : |
c/o Ng,
Suen, Lau C.P.A. Ltd., Room 2402, 24/F., |
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Country : |
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Date of Incorporation : |
03.06.2010 |
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Com. Reg. No.: |
52391043 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
designer and
manufacturer of custom AC/DC and
DC/AC power supplies for a broad range of uses, including TVs, LCD monitors,
charging systems, and communication products |
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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 : |
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 |
|
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 |
FESICU HONGKONG LTD.
Registered
Office:-
c/o Ng, Suen, Lau C.P.A. Ltd.
Room 2402, 24/F., Sing Pao Building, 101 King’s Road, Fortress Hill, Hong Kong.
Holding Company:-
Shenzhen Megmeet Electrical Co. Ltd., China.
Associated/Affiliated
Companies:-
Megmeet Hongkong Ltd., Hong Kong. [Dissolved]
Megmeet Shanghai Technical Centre, China.
Megmeet USA Inc., USA.
Shenzhen Megmeet Control Technology Co. Ltd., China.
Shenzhen Megmeet Drive Technology Co. Ltd., China.
Zhuzhou Megmeet Electrical Co. Ltd., China.
52391043
1464200
3rd June, 2010.
Nominal Share Capital: US$1,000.00 (Divided into 1,000 shares of US$1.00 each)
Issued Share Capital: US$1,000.00
(As per registry
dated 03-06-2011)
|
Name |
|
No. of shares |
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Shenzhen Megmeet Electrical Co. Ltd. A-E, 5/F., UNIS Information Park, 13 Langshan Road, Hi-Tech Industrial Park North, Nanshan District, Shenzhen, 518067 China. |
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1,000 ==== |
(As per registry
dated 03-06-2011)
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Name (Nationality) |
Address |
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TONG Yongsheng |
7C, Building B, Hanwang Mansion, Nanhai Blvd, Nanshan District, Shenzhen, 518067 China. |
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WANG Tao |
C11B, Fantasy Home, Nanguang Road, Nanshan District, Shenzhen, 518052 China. |
(As per registry
dated 03-06-2011)
|
Name |
Address |
Co.
No. |
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ABBA Secretarial Ltd. |
Room 2402, 24/F., Sing Pao Building, 101 King’s Road, Fortress Hill, Hong Kong. |
0144046 |
Bank of China (Hong Kong) Ltd., Hong Kong.
China Construction Bank Corporation, Hong Kong Branch.
Fesicu Hongkong Ltd. was incorporated in Hong Kong on 3rd June, 2010 as a private limited liability company.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 2402, 24/F., Sing Pao Building, 101 King’s Road, Fortress Hill, Hong Kong known as ABBA Secretarial Ltd. [ABBA] which is handling its correspondences and documents. It is also the corporate secretary of the subject. ABBA is an associated company of Ng, Suen, Lau C.P.A. Ltd. which is an accountant firm located at the above-mentioned address. The subject has no employees in Hong Kong.
With a registered capital of US$1,000.00, the subject is wholly-owned by Shenzhen Megmeet Electrical Co. Ltd. [SME] which is a Shenzhen-based firm. The directors of the subject are Mr. Tong Yongshen and Mr. Wang To, both are China merchants.
With a registered capital of US$121 million and established in 2003, SME is a designer and manufacturer of custom AC/DC and DC/AC power supplies for a broad range of uses, including TVs, LCD monitors, charging systems, and communication products. SME is one of the leading manufacturers of its kinds in China. In total there are seven categories.
It has had a 18,000 sq.m. production centre in China with a monthly production capacity of about 1 million units. It owns a team of about 260 R&D engineers and also has had over 30 electric power and electronic technology patents.
SME’s profit after tax for the year of 2009 was RMB364 million Yuan and RMB520 million Yuan in FY 2010. The overall business of SME is active.
With more than 500 customers worldwide, the subject has had over 15 million units of its products widely used in different industries such as railway, transportation, electricity, wind power, telecommunications, computer technologies, medical, military, industrial automation and monitors.
It is likely that SME deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. SME also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.
The subject has been banking with Bank of China (Hong Kong) Ltd., Hong Kong. Its business in Hong Kong is not active.
It is worthwhile to note that SME had an associated company Megmeet Hongkong Ltd. in Hong Kong. Incorporated on 21st March, 2005, Megmeet Hongkong Ltd. has been dissolved on 4th January, 2012.
Besides, SME has had an associated company known as Megmeet USA Inc. in Silicon Valley of the United States.
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.53.46 |
|
UK Pound |
1 |
Rs.86.27 |
|
Euro |
1 |
Rs.69.40 |
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 |
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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.