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Report Date : |
13.09.2012 |
IDENTIFICATION DETAILS
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Name : |
TOPWISE
COMMUNICATIONS LTD. |
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Registered Office : |
7/F., |
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Country : |
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Date of Incorporation : |
29.02.2012 |
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Com. Reg. No.: |
59468184 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer, Importer and Exporter of all kinds of mobile phones, etc. |
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No. of Employees : |
05. (Including
associate) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
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Status : |
New business |
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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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
TOPWISE COMMUNICATIONS LTD.
7/F., Hang Fat Industrial Building, 550-556 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong.
PHONE: 2361 9866
FAX: 2361 9566
Managing Director & Chairman: Mr. Zou Xiang Yong
Incorporated on: 29th February, 2012.
Organization: Private Limited Company.
Capital: Nominal: HK$100,000,000.00
Issued: HK$100,000,000.00
Business Category: Manufacturer, Importer and Exporter.
Employees: 5. (Including associate)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
7/F., Hang Fat Industrial Building, 550-556 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong.
Holding Company:-
Topwise Group Ltd., Hong Kong.
Associated
Companies:-
Huizhou Jingwah Dazhi Communication Co. Ltd., China.
Huizhou Kameiou Communication Co. Ltd., China.
Topwise Communications
(Hong Kong) Ltd., Hong Kong.
(Same address)
Topwise Communications Ltd., British Virgin Islands.
Shenzhen Topwise Communication Co. Ltd.
Shengtang Business Building East, Futian, 518040 Shenzhen Special Economic Zone, China.
[Tel: 86-0755-8601 9253; Fax: 86-0755-8652 1601]
59468184
1711398
Managing Director & Chairman: Mr. Zou Xiang Yong
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000,000.00
(As per registry
dated 01-06-2012)
|
Name |
|
No. of shares |
|
Topwise Group Ltd., Hong Kong. |
|
100,000,000 ========= |
(As per registry
dated 29-02-2012)
|
Name (Nationality) |
Address |
|
ZOU Xiangyong |
Flat B, 10/F., Block 2, Phase, Donghai Garden, Xiangxuan Road, Futian District, Shenzhen City, Guangdong Province, China. |
(As per registry dated
29-02-2012)
|
Name |
Address |
Co.
No. |
|
ComSec Nominee Ltd. |
Room 2601, 26/F., China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong. |
0366176 |
The subject was incorporated on 29th February, 2012 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: Manufacturer, Importer and Exporter.
Lines: All kinds of mobile phones, etc.
Employees: 5. (Including associate)
Commodities Imported: Imported from China, other Asian countries, etc.
Markets: China, Japan, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, D/P, O/A, etc.
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$100,000,000.00
Alternation of
Capital:-
|
Initially |
paid up |
HK$ 10,000.00 |
|
01-06-2012 |
paid up |
HK$ 99,990,000.00 |
|
|
|
–––––––––––––––– |
|
Total: |
paid up |
HK$100,000,000.00 ============== |
Increase of
Nominal Capital:-
|
From |
HK10,000.00 |
to |
HK$100,000,000.00 |
on |
01-06-2012 |
Profit or Loss: Keeping a balance account.
Condition: Business is improving.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued 100 million ordinary shares of HK$1.00 each, Topwise Communications Ltd. is wholly owned by Topwise Group Ltd. which is a Hong Kong-registered firm. The subject commenced business in February 2012.
The subject has had an associated company Topwise Communications (Hong Kong) Ltd. [TCHK] located at the same operating address.
The subject is engaged in manufacturing and marketing all kinds of mobile phones.
TCHK has registered with the Office of the Telecommunications Authority [OFTA], The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. It bears the licence No. of RU00141921-RU.
The subject and its associated companies are referred to Topwise Group [Topwise/Group].
Topwise has registered its brand name “COMIO” with the Hong Kong SAR Government. This brand is owned by Huizhou Jingwah Dazhi Communication Co. Ltd. which is a China-based firm.
Topwise has had a main associated factory in Shenzhen Special Economic Zone, China known as Shenzhen Topwise Communication Co. Ltd. [Shenzhen Topwise].
Founded in June 2005, Shenzhen Topwise which its headquarters in Shenzhen Special Economic Zone, China, is dedicated to the development and manufacturing of mobile communication terminal products. Shenzhen Topwise now has grown to be a giant group corporation with over 260 employees, who serve in different divisions including R&D, products manufacturing, brands promotion and global marketing. 50% of the R&D staff have graduated from universities.
The Group now sells more than 25 million mobile phones in the global market.
Shenzhen Topwise has been equipped with state-of-the-art equipment, anti‑electrostatic workshop. It is adopting advanced management system. It has three research centres which is engaged in developing new model of handsets, smart phones and 3G respectively.
It has 8 fixed mobile assembly lines and 9 high-speed and precision SMT lines. In order to keep the pace with handset manufacturing.
Shenzhen Topwise has had an industrial park which covers an area of about 100,000 sq.m. is under construction. Shenzhen Topwise has got ISO 9001:2008 certification.
One of the Group’s business partners is Spreadtrum Communications Inc. of Cayman Island.
Including the staff members of Huizhou Kameiou Communication Co. Ltd. [Kameiou] and Huizhou Jingwah Dazhi Communication Co. Ltd., the Group has about 1,000 employees. Kameiou is engaged in designing and manufacturing all kinds of mobile phones (GSM, CDMA). It got the ISO 9001:2008 certification in April 2008.
The subject has set up an “International Marketing & Sales Centre” in Luohu District, Shenzhen Special Economic Zone, China.
The annual sales turnover of the Group ranges from RMB250 to 300 million Yuan. Business is normal and active.
The subject is fully supported by the Group.
Since
the history of the subject in
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.26 |
|
UK Pound |
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.71.13 |
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 |
|
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.