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Report Date : |
26.05.2012 |
IDENTIFICATION DETAILS
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Name : |
TCL
OVERSEAS MARKETING LTD. |
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Registered Office : |
Sea Meadow House, |
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Country : |
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Date of Incorporation : |
09.03.2001 |
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Com. Reg. No.: |
31643730 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of 14” to 38” colour televisions, VCD players, SVCD players, DVD players, hi-fi systems and home-cinema hi-fi systems etc. |
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No. of Employees : |
26,275. (As at 31-12-2011) |
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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
TCL OVERSEAS
MARKETING LTD.
13/F.,
PHONE: 2405 5282, 2417 7183
FAX: 2405 8488, 2417 7181
E-MAIL : marketing@tclhk.com
Authorized Representative in
Registered in
(Non-Hong Kong Company)
Organization: Limited Company.
Capital: Authorised: US$50,000.00
Issued & Paid Up: US$1.00
Business Category: Trading in audio-visual products and components.
Group Turnover: HK$32,932,363,000 (Year ended 31-12-2011)
Group Employees: 26,275. (As at 31-12-2011)
Main Dealing Bankers: The
Hongkong & Shanghai Banking Corp. Ltd.,
Bank of
Banking Relation: Satisfactory.
Registered
Office:-
Sea Meadow House, Blackburne Highway, PO Box 116, Road Town, Tortola, British Virgin Islands.
Head Office &
13/F.,
Immediate Holding
Company:-
TCL Overseas Holdings Ltd., British Virgin Islands/Hong Kong.
Intermediate
Holding Company:-
TCL Multimedia Technology Holdings Ltd. [TMTH], Cayman Islands/Hong Kong.
Ultimate Holding
Company:-
TCL Corporation,
Associated/Affiliated
Companies:-
TMTH Group of Companies
Guangzhou Digital Rowa Technology Co. Ltd.,
Guangzhou Joy Network & Technology Co. Ltd.,
Henan TCL-Melody Electronics Co. Ltd.,
Inner Mongolia TCL King Electrical Appliance Co. Ltd.,
Manufacturas Avanzadas S.A. de C.V.,
Shenzhen TCL New Technology Co. Ltd.,
TCL (
TCL Belgium S.A.,
TCL Electrical Appliance Sales Co. Ltd.,
TCL Electronics (HK) Ltd., Hong Kong.
TCL Electronics (
TCL Finance Co. Ltd.,
TCL Holdings (BVI) Ltd., British Virgin Islands/Hong Kong.
TCL India Holdings Pvt. Ltd.,
TCL Information Technology Industrial (Group) Co. Ltd., British Virgin Islands/Hong Kong.
TCL International Electronics (BVI) Ltd., British Virgin Islands/Hong Kong.
TCL King Electrical Appliances (
TCL King Electrical Appliances (Huhehaote) Co. Ltd.,
TCL King Electrical Appliances (Huizhou) Co. Ltd.,
TCL King Electrical Appliances (
TCL King Electrical Appliances (
TCL King Electronics (Shenzhen) Co. Ltd.,
TCL OEM Sales Ltd.,
TCL Operations Polska S.p. z.o.o.,
TCL Overseas Consumer Electronics Ltd., Hong Kong.
TCL Overseas Electronics (Huizhou) Ltd.,
TCL Overseas Marketing (
TCL Sun Inc.,
TCL Technoly Electronics (Huizhou) Co. Ltd.,
TCL-Thomson Electronics (
TTE (
TTE Corporation, British Virgin Islands/Hong Kong.
TTE Technology Canada Ltd.,
TTE Technology Inc.,
etc.
31643730
F0011030
Authorised Representative in
[Address:Room 2615, 26/F., Hin Hing House, Hin King Estate,
Shatin, New Territories,
Authorised Share Capital: US$50,000.00 (Divided into 50,000 shares of US$1.00 each)
Issued & Pais Up Capital: US$1.00
(As per registry
dated 09-03-2012)
|
Name (Nationality) |
Address |
|
Yu CHENG |
TCL Dormitory, Shekou, Nanshan District, Shenzhen City, Guangdone Province, 518067 The People’s Republic Of China. |
|
Yi HAO |
Room 1-1-2602, Guan Hu Jia Yuan, No. 88 Dongsihuabei Road, Chaoyang District, Beijing, 100025, The People’s Republic Of China. |
Nil.
The
subject was incorporated in the
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of 14” to 38” colour televisions, VCD players, SVCD players, DVD players, hi-fi
systems and home-cinema hi-fi systems etc.
Trade Marks: TCL, ROWA, THOMSON and RCA.
Group Employees: 26,275. (As at 31-12-2011)
Materials/Commodities: Imports ICs and capacitors from overseas suppliers, and imports completed products
from its group
members in
Markets: Worldwide countries.
Group Turnover:
HK$21,294,104,000 (Year ended 31-12-2007)
HK$25,773,322,000 (Year ended 31-12-2008)
HK$30,342,550,000 (Year ended 31-12-2009)
HK$26,948,627,000 (Year ended 31-12-2010)
HK$32,932,363,000 (Year ended 31-12-2011)
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T and D/P.
Nominal Share Capital: US$50,000.00 (Divided into 50,000 shares of US$1.00 each)
Issued Share Capital: US$1.00
Group Net
Profit/(Loss):
(HK$ 253,179,000) (Year ended 31-12-2007)
(HK$ 251,461,000) (Year ended 31-12-2008)
HK$ 404,060,000 (Year ended 31-12-2009)
(HK$ 973,413,000) (Year ended 31-12-2010)
HK$ 461,441,000 (Year ended 31-12-2011)
Profit or Loss: The Group made profits in 2009 and 2011.
Condition: Keeping in an active condition.
Facilities: Rather actively using general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Good.
Bankers:-
·
The Hongkong & Shanghai Banking Corp. Ltd.,
Bank
of
Hang
Seng Bank Ltd.,
Nanyang
Commercial Bank Ltd.,
Standard
Chartered Bank (Hong Kong) Ltd.,
Sumitomo
Mitsui Banking Corporation, Hong Kong Branch.
Standing: Good.
TCL Overseas Marketing Ltd. is a wholly-owned subsidiary of TCL Overseas Holdings Ltd. which is a BVI-registered firm. Its intermediate holding company TCL Multimedia Technology Holdings Ltd. [TMTH] is a Cayman Islands-registered firm. Formerly TMTH was known as TCL International Holdings Ltd. [TCL International].
TCL
International was incorporated in the
The
ultimate controlling shareholder of TMTH is TCL Corporation [TCL] (formerly
known as TCL Holdings Corporation Ltd.).
It was a
The
subject is trading in audio-visual products and components. It has got a main affiliated company in
The
TMTH Group is principally engaged in the manufacture and sale of colour television
[TV] sets, and trading of related components; and manufacture and sale of other
audio-visual [AV] products. It is also
engaged in information technology and other businesses. All the products sold in
The TMTH Group is one of the world’s largest global TV manufacturers and distributors and its products are sold all over the world.
Headquartered
in
The TMTH Group, through TCL Electronic Corporation, acquired from the subscribers for nominal consideration the entire interest of TCL HK on 7th April, 1993. Since then, TCL HK has been a trading arm and gateway of TCL’s AV Division. It is the purchasing and procurement platform of the Group. TCL HK is responsible for marketing and exporting colour TVs and other AV products internationally, and the trading of raw materials and electronic components for the manufacture of colour TV sets.
2009 was a crucial year for the development of the TV industry. The rising popularity of LCD TVs led the market to transit rapidly from CRT TVs to LCD TVs. Although the global economy was volatile due to the financial tsunami, the Group succeeded in turning crises into opportunities and achieved sound results. The Group implemented highly efficient operational strategies to strengthen its business foundation and seize opportunities to increase market share. The Group also reached its target for steady growth amidst intense market competition through continuous efforts in enhancing product competitiveness.
The Group achieved impressive sales results which were mainly attributable to an initial achievement of the global industry chain integration, global sales and marketing system establishment as well as production mix optimization. As such, the Group not only made breakthroughs in sales volume but also turned from loss to profit. For the year ended 31st December 2011, the Group recorded turnover of approximately HK$32,932 million, up 22.2% year-on-year. The Group’s profit attributable to owners of the parent turned around from net loss to net profit, reached approximately HK$453 million.
The net profit of the Group amounted to HK$461.4 million as compared with a net loss of HK$973.4 million in FY 2010.
In 2011, the Group further consolidated its leading position in the PRC Market while actively expanding its Overseas Markets. Sales volume of LCD TVs in the PRC Market and Overseas Markets grew 28.9% and 81.8% to 6.61 million sets and 4.25 million sets, respectively. Emerging Markets have been the key areas for the Group’s strategic development. They are also the driving force of the Group’s business after the PRC Market. Emerging Markets recorded encouraging results as sales volume of LCD TVs in the markets surged 144.3% year-on-year to 2.37 million sets.
The Group has been engaged in the optimization of its R&D, marketing strategies, sales channels, supply chain as well as cost control, therefore, its products competitiveness and brand dominance have further improved. Riding on the market trend for high-end products in 2011, the Group was dedicated to developing 3D TVs and smart TVs while launching leading super smart “cloud” TVs into the market.
The Group’s sales target for LCD TVs in 2012 amounts to 13.80 million sets, well above the average sales growth in the industry. More importantly, the Group will remain dedicated to improving profitability.
As
of 31st December 2011, there were total of 26,275 employees worldwide and
approximately 5.8% of them were employed outside of Mainland
The subject is fully supported by the TMTH Group.
On the whole, in view of the background and parentage of the subject, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.73 |
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|
1 |
Rs.87.26 |
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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 |
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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 |
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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.