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Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
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Name : |
HONG KONG
KONKA LTD. |
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Registered Office : |
11/F., Chinabest International Centre, 8 Kwai On Road, Kwai Chung, New
Territories |
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Country : |
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Date of Incorporation : |
28.03.1995 |
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Com. Reg. No.: |
18959215 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Wholesaler and Re-exporter of Colour TVs, Monitors, Fax machines, Telephones, Refrigerators, Hi‑Fi systems, Washing machines, Cellular phones, etc. |
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No. of Employees : |
35 |
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 : |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
HONG KONG KONKA LTD.
11/F., Chinabest
International Centre, 8 Kwai On Road, Kwai Chung, New Territories, Hong
Kong.
PHONE: 2392 7128
FAX: 2392 7638, 2392 7886
E-MAIL: sales@konka.com
niuweidong @konka.com
linliping@konka.com
Managing
Director: Mr. Huang Zhongtian
Incorporated on: 28th March, 1995.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Importer, Wholesaler and Re-exporter.
Group Turnover: RMB16,217.6 million Yuan. (Year ended 31-12-2010)
Group Employees: About 10,000.
Company Employees: 35. (Hong Kong)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
HONG
KONG KONKA LTD.
ADDRESS:
Registered
Head Office:-
11/F., Chinabest
International Centre, 8 Kwai On Road, Kwai Chung, New Territories, Hong Kong.
Parent
Company:-
Konka Group Co.
Ltd.
Overseas Chinese
Town, Nanshan District, Shenzhen Special Economic Zone, China.
[ Tel: (86-755)
2660 8866
Fax: (86-755) 2660 0082; 2690 4133,
2691 2144
E-mail: szkonda@konka.com]
Associated/Affiliated
Companies:-
Konka Group of Companies
Anhui Konka Electric Appliance Co. Ltd., China.
Anhui Konka Electronic Co. Ltd., China.
Beijing Konka Electronics Co. Ltd., China.
Boluo Konka Precision Technology Co. Ltd., China.
Boluo Konka Printed Circuit Board Co. Ltd., China.
Changshu Konka Electronic Co. Ltd., China.
Chongqing Konka Auto Electronic Co. Ltd., China.
Chongqing Konka Electronic Co. Ltd., China.
Chongqing Qingjia Electronic Co. Ltd., China.
Dongguan Konka Electronic Co. Ltd., China.
Dongguan Konka Packaging Co. Ltd., China.
Dongguan Konka Plastic Mould Co. Ltd., China.
Dongguan Xutongda Mould Plastic Co. Ltd., China.
Hongdin International Trading Ltd., Hong Kong.
Hongdin Invest Development Ltd., Hong Kong.
Indonesia Konka Electronics Co. Ltd., Indonesia.
Indonesia Konka Trading Ltd., Indonesia.
Konda Pacific Pty. Ltd., Australia.
Konka (USA) Electronic Co. Ltd., USA.
Konka America Inc., USA.
Konka Electronic (India) Co. Ltd., India.
Kunshan Jielunte Molds & Plastic Co. Ltd., China.
Kunshan Konka Electronic Co. Ltd., China.
Mudanjiang Konka Industrial Co. Ltd., China.
Shanxi Konka Electronic Co. Ltd., China.
Shenzhen Konka Communications Technology Co. Ltd., China.
Shenzhen Konka Electronic Co. Ltd., China.
Shenzhen Konka Electronics Technology Co. Ltd., China.
Shenzhen Konka Information Network Co. Ltd., China.
Shenzhen Konka Injected Plastic Factory, China.
Shenzhen Konka Injected Plastic Manufactory Co. Ltd., China.
Shenzhen Konka Plastic Product Co. Ltd., China.
Shenzhen Konka Precision Mould Co. Ltd., China.
Shenzhen Konka Telecommunications Technology Co. Ltd., China.
Shenzhen Konka Visual Information System Engineering Co. Ltd., China.
Shenzhen Shushida Electronic Co. Ltd., China.
Shenzhen Shushida Logistics Service Co. Ltd., China.
etc.
18959215
0509730
Managing
Director: Mr. Huang Zhongtian
Nominal Share
Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$500,000.00
(As per registry dated 28-03-2012)
|
Name |
|
No.
of shares |
|
Konka Group Co. Ltd. Overseas Chinese
Town, Nanshan District, Shenzhen Special Economic Zone, China. |
|
495,000 |
|
Shenzhen Konka Injected Plastic Factory Overseas Chinese Town, Nanshan District, Shenzhen Special Economic
Zone, China. |
|
5,000 |
|
|
|
––––––– |
|
|
Total: |
500,000 ====== |
(As per registry dated 28-03-2012)
|
Name (Nationality) |
Address |
|
LI Hai Tao |
Room 604, Block 3, Kangjai Court, Shantou
Street, Overseas Chinese City, Nanshan Dirtrict, Shenzhen Special
Economic Zone, China. |
|
HUANG Zhongtian |
Room 506, 12, Block 4, Shahe Guanghua Street, Nantou District, Shenzhen Special Economic Zone, China. |
|
CHANG Dong |
Room 6D, Block 5, Kangjai Court, Shantou Street, Overseas Chinese
City, Nanshan Dirtrict, Shenzhen Special Economic Zone, China. |
(As per registry dated 28-03-2012)
|
Name |
Address |
Co.
No. |
|
T.N.
Luu Ho Consultants Ltd. |
Room 2702-2703, 27/F., C.C. Wu Building,
302‑308 Hennessy Road, Wanchai, Hong Kong. |
0142334 |
The
subject was incorporated on 28th March, 1995 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.
Activities: Importer, Wholesaler and Re-exporter.
Lines: Colour TVs, Monitors, Fax machines, Telephones, Refrigerators, Hi‑Fi systems, Washing machines, Cellular phones, etc.
Brand Name: KONKA.
Group Employees: About 10,000.
Company Employees: 35. (Hong Kong)
Materials/Commodities: Imports spare parts and raw materials from Japan.
Markets: Worldwide countries.
Group Turnover: RMB13,259,033,591.95
Yuan (Year ended 31-12-2009)
RMB17,111,454,066.34
Yuan (Year ended 31-12-2010)
RMB16,217,619,883.23
Yuan (Year ended 31-12-2011)
Company
Turnover: RMB2,315,453,138.85 Yuan (Year ended 31-12-2011)
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: L/C,
T/T and D/P.
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$500,000.00
Group Net Profit: RMB151,670,735.64 Yuan (Year ended 31-12-2009)
RMB 83,947,861.32 Yuan (Year ended 31-12-2010)
RMB 24,972,838.12 Yuan (Year ended 31-12-2011)
Company Net Profit: RMB16,852,619.32 Yuan (Year ended 31-12-2011)
Profit & Loss: Business is profitable.
Condition: Keeping in an active manner.
Facilities: Actively using general banking facilities.
Payment: Met on time.
Commercial Morality: Good.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
The Bank of East Asia Ltd., Hong Kong.
Standing: Good.
Hong
Kong Konka Ltd. is a subsidiary of Konka Group Co. Ltd. [Konka] which is a
significant Shenzhen-based enterprise.
Konka has been listed on the Shenzhen Stock Exchange.
The
subject is responsible for marketing and re-exporting Konka Group’s
products. It also acquires raw materials
for the Group.
Established
in 1980, Konka is China’ s first Sino-foreign joint consumer electronics
enterprise, manufacturing and distributing its own brand of prime quality
products. The Konka Group’s major
product lines are Colour TV sets and mobile phones. Refrigerators, washing machines, air
conditioners, component, and packaging material also form part of the Group’s
product lines.
In
August 1991, Konka was restructured into a Sino-foreign public share-hold
company and on 27th March, 1992, its A-share and B-share were listed on the
Shenzhen Stock Exchange.
It
has got seven major manufacturing plants in the North-East, North-West, South,
East and South-West of China, and has established production bases in
Indonesia, Mexico and Slovakia. Almost
half a million TVs roll off the Group’s production lines every year, with
enough room for up to 6 million units.
In
2003, retail sales of Konka’s colour TV in China’s domestic market increased by
32.32%, making it the number 1 brand domestically. At the same time, the sales volume of mobile
phones exceeded 1.6 million units, an increase of 327% over 2002. While increasing its market share
domestically, Konka is also setting its sight on international expansion. It was the first China TV producer to obtain
both the international and domestic ISO 9001 and ISO 14001 in 1997. At present, the “Konka” brand is enjoying
growing acknowledgement abroad. In
January 2000, at the Las Vegas International Consumer Electronic Fair, Konka
won the award for Innovation. With three
world-class R&D centres in China and one in the United States, Konka has
developed a series of new generation electronics and telecommunications products
with high market adaptability and competitiveness, including large‑screen
colour TV, combo TV, digital TV, LCDTV, plasma screen, etc.
Konka
is one of four members of the China National High-Definition Digital TV
Standardization Specialist Committee, and is also a member of the American
Digital TV Alliance.
Specialized
in colour TV sets since 1980, Konka now sells its products to over 90 markets
outside China, mainly the United States, Canada, Japan and Australia.
Konka
has set up a Multimedia Product Development Centre and employs more than 300 engineers
and works closely with industry leaders such as Sanyo, Toshiba and
STMicroelectronics.
Ever
since its establishment in 1979, the Konka has been the second largest TV
manufacturer in China.
The
Group is expanding its production base to the outskirts of the Shenzhen Special
Economic Zone, so as to implement economy of scale and strengthen its
production capability. This has come in
the form of the Konka Electronic City [KEC] in Dongguan City, Guangdong Province,
China. Its Phase I factory covers a site
area of 220,000 sq.m. It produces parts
and accessories for the Group. KEC is a
major export-oriented production base of the Group.
Today,
Konka is one of the 500 largest industrial enterprises in China, as well as the
first company in the country’s colour TV sector to obtain both national and
international Quality Management System Certificates of ISO 9001 standard and
the ISO 14000 certificate for environmental protection. Besides the ISO 9001 certification, Konka’s
products are in conformity of the UL and CSA standards.
The
principal operating income of the Group in 2011 was RMB16,217.6 million Yuan
(2010: RMB17,111.5 million Yuan), decreased by 5.2% as compared with previous
year. Net profit was RMB25.0 million
Yuan (2010: RMB83.9 million Yuan), decreased substantially by 70.2%.
The
Group’s business had been severely hit by the financial turmoil occued between
2007 to 2009. In 2011, the Group’s net
profit dropped substantially and this has made the Group to penetrate other
foreign markets such as Indonesia, Brazil, Panama and other South America
countries.
On
the other hand, the Group keeps on the development of intelligent TVs, terminal
and intelligent mobile phones, etc.
For
the year ended 31st December, 2011, the turnover of the subject amounted to
RMB2,315.5 million Yuan, net profit was RMB16.9 million Yuan. Total net asset was RMB100.9 million Yuan.
The
subject has about 35 employees in Hong Kong.
Operates from a rented office.
On
the whole, as the subject is fully supported by Konka Group, consider it good
for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.28 |
|
|
1 |
Rs.88.25 |
|
Euro |
1 |
Rs.70.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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.