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Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
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Name : |
GUANGZHOU
CK TELECOM LTD. |
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Registered Office : |
Flat 1-7, 17/F., |
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Country : |
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Date of Incorporation : |
16.01.2004 |
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Com. Reg. No.: |
34231853 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of mobile phones, handsets, accessories, etc. |
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No. of Employees : |
05 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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 |
GUANGZHOU CK TELECOM LTD.
Flat 1-7, 17/F., Topsail Plaza, 11 On Sum Street, Sha Tin, New Territories, Hong Kong.
PHONE: 2151 6082
FAX: 2151 6083
E-MAIL: swweb@surewheel.com
Managing Director: Mr. Wang Jianqiang
Incorporated on: 16th January, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Telecommunication Product Trader.
Group Annual Sales
Turnover: HK$900-1,100 million.
Employees: 5.
Main Dealing Banker: Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Flat 1-7, 17/F., Topsail Plaza, 11 On Sum Street, Sha Tin, New Territories, Hong Kong.
Associated China
Factories:-
C-Flex Electronic (Heyuan) Co. Ltd., China.
Shenzhen Saibei Electronics Co. Ltd., China.
Parent Company:-
CK Telecom Ltd.
High-Tech Development Zone,
Heyuan, Guangdong Province, China.
[Tel: (86-762) 360 0988; Fax: (86-762) 360 0088]
Associated
Companies:-
CK Guangzhou Communication Technology Equipment Co. Ltd., China.
CK Hangzhou Communication Equipment Co. Ltd., China.
CK Kunshan Hill Titanium Microelectronics Co. Ltd., China.
CK Kunshan West Titanium Microelectronics Co. Ltd., China.
CK Telecom (Heyuan) Communications Equipment Co. Ltd., China.
Focus Technology Ltd., Hong Kong. (Same address)
Shenzhen CK Telecom Ltd., China.
Surewheel Asia Pacific Ltd., Hong Kong. (Same address)
34231853
0879872
Managing Director: Mr. Wang Jianqiang
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
(As per registry
dated 16-01-2012)
|
Name |
Occupation |
No. of shares |
|
WANG Jianqiang |
Merchant |
100 === |
(As per registry
dated 16-01-2012)
|
Name (Nationality) |
Address |
|
WANG Jianqiang |
Flat A, 13/F., Wingco Mansion, 36-42 Soy Street, Mongkok, Kowloon, Hong Kong. |
(As per registry dated 16-01-2012)
|
Name |
Address |
|
CHOY Shui Kar |
Room 405B, 4/F.,Cheong K Building, 84-86 Des Voeux Road Central, Hong Kong. |
The subject was incorporated on 16th January, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit 1818, 18/F., Grandtech Centre, 8 On Ping Street, Shatin, New Territories, Hong Kong, moved to the present address in August 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter.
Lines: All kinds of mobile phones, handsets, accessories, etc.
Employees: 5.
Commodities Imported: Imports spare parts from Asian countries and finished products from China.
Markets: China, Japan, Southeast Asia, Europe, etc.
Group Annual Sales
Turnover: HK$900-1,100 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Mortgage or Charge
(since2012): (See attachment)
Profit & Loss: Making a profit in the past two years.
Condition: Business is improving.
Facilities: Adequate for current running.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Hang Seng Bank Ltd., Hong Kong.
Standing: Good.
Guangzhou CK Telecom Ltd. is wholly-owned by Mr. Wang Jianqiang who is a China merchant holding a China passport. It seems that most of the time, he is not in Hong Kong. He is also the only director of the subject.
The subject has got two associated companies located at its operating address, namely, Focus Technology Ltd. and Surewheel Asia Pacific Ltd. [Surewheel]. Both firms are registered in Hong Kong.
The subject moved to the present address in August 2011 where is also a warehouse.
Surewheel is the agent for “Samsung” handsets, a South Korean manufacturer, in China. It also trades in the mobile phone accessories for “Amphenol”, Germany. Apart from carrying the above-mentioned two brands, Surewheel is also the China agent of the following products: “Centronic”, “EPCOS”, “VIMICROM”, “ROHM”, etc. The products of these brands are marketed throughout China.
Surewheel has got an affiliated company in Shenzhen Special Economic Zone, China which was established in October 1996.
Now, the subject is trading in the products of the following firms: TCL, Telsda, Konka, lenovo, ZTE, Hisense, Eastcom, CK Telecom, Changhong, AMOI, TechFaith, Bubugao, etc.
The subject is actually a subsidiary company of CK Telecom Ltd. [CK Telecom] which is located at High-Tech Development Zone, Heyuan, Guangdong Province, China.
The subject is one of the members of the CK Telecom Group. In Hong Kong it is responsible for marketing CK Telecom’s products and sourcing raw materials and spare parts for CK Telecom.
The subject has registered with the Office of the Telecommunications [OFTA], The Government of Hong Kong SAR, the People’s Republic of China. The subject bears the licence No. 10789.
Besides the subject, CK Telecom has set up China subsidiary companies or factories in Shenzhen Special Economic Zone and Hangzhou (Zhejiang Province).
CK Telecom is a high-tech company specialised in R&D, producing and marketing communication products. It provides innovative and customised products, services and solutions to global customers. Main products include handsets, GSM pay phone series, GSM/GPRS module, etc. It also provides clients with one-stop service and customised products.
As a professional OEM service supplier, CK Telecom can provide SMT, manufacturing and assembly service on wireless communication terminal for both domestic and overseas companies.
CK Telecom owns a whole set “new operation concept and management system”, so-called by its management. To our knowledge, CK Telecom is developing mobile phones for children and the aged.
The followings are
the development of the CK Telecom Group:-
l
In November 2000,
CK Guangzhou Communication Technology Equipment Co., Ltd. was formally
established;
l
In June 2004,
Shenzhen CK Communications Technology Equipment Co., Ltd. was formally
established;
l
December 2004,
the CK communications technology equipment (Heyuan) Co., Ltd. was formally
established;
l
In January 2007, the
CK factory established in Heyuan was put into production. It is engaged in manufacturing communication
and SMT products;
l
In September
2006, the CK Hangzhou Communications Equipment Co., Ltd. was formally
established;
l
June 2007, the CK
Kunshan Hill titanium Microelectronics was established;
l
In June 2008, the
CK West titanium Microelectronics Co., Ltd. Kunshan formally established; &
l In October 2009 the CK Mould Factory is put into production. It is engaged in mobile phone shell moulding, injection production.
From March to July 2006, CK Telecom had developed business ties with Vodafone of Turkey, Hitachi of Japan, and other foreign firms such as Eastcom, Gplus, Fly, etc.
CK Telecom’s global partnerships also include the followings: Benq, CECT, Hisense, UTstarcom, RAKS, SIEMENS, ITT, SAMPO, SKUVOX, Haier, KOOOK, kolin, Disney, BenQ-Siemens, WellcoM, utec, Gino, etc.
CK Telecom has become one of the leaders in domestic handset industry. The President of CK Telecom is Mr. Roy He. He is also the Chief Executive Officer of Surewheel.
The overall business of the CK Telecom Group is normal and steady. Group annual sales turnover ranges from HK$900-1,100 million. Total profit ranges from HK$9 to 11 million.
The subject has set up China offices in Shenzhen Special Economic Zone, Shanghai and Beijing in order to penetrate the China market further.
The subject is fully supported by the CK Telecom Group. History in Hong Kong is over eight years.
On the whole, in view of the subject’s background, consider it good for normal business engagements.
(since 2012)
|
Date |
Particulars |
Amount |
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12-12-2011 |
Instrument: Assignment of Insurance Policy (Two-Party) Property: All the rights, title, benefits & interests of the Borrower in the insurance policy:- Name of the Iinsured: Wang Jianqiang Policy No.: 28004329-50 Effective date of the Policy: 30th September, 2011 Insurer: HSBC Life (International) Ltd. Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure all sums of money, debts & liabilities at the date of the Assignment owing to the Assignee anywhere in the world from the Borrower |
|
19-04-2012 |
Instrument: Assignment of Loan Property: The Assignor as beneficial owner, assigns to the Assigness absolutely all the right and interest in and to the Loan Debtor:- Name: CK Kunshan West Titanium Microelectronics Co. Ltd., China. Certifcate/registration No: 320583400024830 Principal Amount: RMB30,000,00 Yuan Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure owing all monies in any currency by the Assignor to Hang Seng Bank Ltd. at any time, actually or contingently, in any capacity, alone or jointly with any other person |
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19-04-2012 |
Instrument: Assignment of Loan Property: The Assignor as beneficial owner, assigns to the Assigness absolutely all the right and interest in and to the Loan Debtor:- Name: CK Telecom (HEYUAN) Communications Equipment Co. Ltd., China. Certifcate/registration No: 320583400024830 Principal Amount: RMB30,000,00 Yuan Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure owing all monies in any currency by the Assignor to Hang Seng Bank Ltd. at any time, actually or contingently, in any capacity, alone or jointly with any other person |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.69 |
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UK Pound |
1 |
Rs.89.20 |
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Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.