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Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
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Name : |
DEE TELECOM HOLDINGS HK LTD. |
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Registered Office : |
C/o Sovereign Secretaries (HK) Ltd. Suite 1-3, 16/F., Kinwick Centre, 32 Hollywood Road, Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.12.2005 |
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Com. Reg. No.: |
36280977 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Trader of Telecom Product, Mobile phones and accessories, etc. |
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No. of Employees : |
Not Available |
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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
DEE TELECOM
HOLDINGS HK LTD.
ADDRESS: c/o Sovereign Secretaries
(HK) Ltd.
Suite 1-3, 16/F., Kinwick
Centre, 32 Hollywood Road, Central, Hong Kong.
PHONE: 2542 1177
FAX: 2545 0550
Managing Director: Mr. Wasu
Wasuwanich
Incorporated on: 8th December, 2005.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000.00
Issued: HK$1,000.00
Business Category: Telecom Product Trader.
Employees:
Nil.
Main Dealing Banker: Bangkok Bank Public Co. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Sovereign Secretaries (HK) Ltd.
Suite 1-3, 16/F., Kinwick Centre, 32 Hollywood Road, Central,
Hong Kong.
36280977
1012467
Managing Director: Mr. Wasu
Wasuwanich
Nominal Share Capital: HK$1,000.00 (Divided into 1,000 shares of HK$1.00
each)
Issued Share Capital: HK$1,000.00
(As per registry dated 08-12-2011)
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Name |
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No. of shares |
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Arthita Insorn |
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400 |
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Wasu WASUWANICH |
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600 |
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–––– |
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Total: |
1,000 ==== |
(As per registry dated 18-12-2011)
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Name (Nationality) |
Address |
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Wasu WASUWANICH |
14 Soi Simoung-Anusorn Suthisarn 5 Road, Huaykwang, Bangkok 10310,
Thailand. |
(As per registry dated 18-12-2011)
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Name |
Address |
Co. No. |
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Sovereign Secretaries (HK) Ltd. |
Suite 1-3, 16/F., Kinwick Centre, 32 Hollywood Road, Central,
Hong Kong. |
0280990 |
The subject was incorporated on 8th December, 2005 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Rothchild
Holdings HK Ltd., name changed to GT-Phone Holdings HK Ltd. on 19th August,
2006 and further to the present style on 10th September, 2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Telecom
Product Trader.
Lines: Mobile
phones and accessories, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: Thailand,
other Asian countries, Middle East, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$1,000.00 (Divided into 1,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1,000.00
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making rather active
use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
Bangkok Bank
Public Co. Ltd., Hong Kong.
Standing:
Small.
Having issued 1,000 ordinary shares of HK$1.00 each, Dee Telecom
Holdings HK Ltd. is jointly owned by Arthita Insorn, holding 40% interests, and
Wasu Wasuwanich, holding 60%. Both are
Thai merchants. The latter is also the
only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Suite 1-3, 16/F., Kinwick Centre, 32 Hollywood
Road, Central, Hong Kong” known as “Sovereign Secretaries (HK) Ltd.” which is
handling its correspondences and documents.
This firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
The subject is trading in all kinds of mobile phones and
accessories. It is carrying GSM/PCS
mobile phones and accessories which are chiefly imported from China and the
other Asian countries. Prime markets are
Thailand, the other Asian countries, the Middle East, etc.
It is likely that the subject has got an associated company in Thailand
which is also operated by the shareholders of the subject. The Thailand firm is also a mobile phone
trader.
The subject’s business in Hong Kong is not active. History in Hong Kong is over six years.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.45 |
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1 |
Rs.87.98 |
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Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.