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Report Date : |
29.09.2012 |
IDENTIFICATION DETAILS
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Name : |
TECHCO
HONG KONG LTD. |
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Registered Office : |
Shop G, G/F., |
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Country : |
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Date of Incorporation : |
23.01.2010 |
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Com. Reg. No.: |
52491176 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Stationery trader of all kinds of ball pen, stationery, office equipment, etc. |
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No. of Employees : |
01 employee |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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) |
|
Hong Kong |
A2 |
A2 |
|
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 |
TECHCO HONG KONG LTD.
Shop G, G/F., 266 Electric Road, North Point, Hong Kong.
PHONE: 2575 2891
FAX: 2891 0969, 8161 1090
E-MAIL: yuentaigroup@ctimail.com
Managing Director: Mr. Lam Wai Man
Incorporated on: 23rd June, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Stationery trader.
Employees: 1.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
Shop G, G/F., 266 Electric Road, North Point, Hong Kong.
Operating Office:-
Flat A, 15/F., Block 10, 233 Electric Road, North Point, Hong Kong.
Associated
Companies:-
Yuen Tai International Development Industrial Co., Hong Kong.
Yuen Tai International Holdings (H.K.) Ltd.
Flat A, 15/F., Block 10, 233 Electric Road, North Point, Hong Kong.
[Tel: 9192 9762 Fax: 8161 1090]
52491176
1471738
Managing Director: Mr. Lam Wai Man
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry
dated 23-06-2012)
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Name |
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No. of share |
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LAM Wai Man |
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1 = |
(As per registry
dated 23-06-2012)
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Name (Nationality) |
Address |
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LAM Wai Man |
Flat A, 15/F., Block 10, 233 Electric Road, North Point, Hong Kong. |
(As per registry
dated 23-06-2012)
|
Name |
Address |
|
HUI Mei Yi |
Flat A, 15/F., Block 10, 233 Electric Road, North Point, Hong Kong. |
The subject was incorporated on 23rd June, 2010 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: Stationery trader.
Lines: All kinds of ball pen, stationery, office equipment, etc.
Employees: 1.
Commodities Imported: Europe, China, other Asian countries, local suppliers, etc.
Markets: Hong Kong, Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Keeping a balance account.
Condition: Business is under development.
Facilities: Trying to make use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Fairly Satisfactory
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued just 1 ordinary share of HK$1.00 each, Techco Hong Kong Ltd. is wholly owned by Mr. Lam Wai Man who is a Hong Kong merchant. He is also the only director of the subject.
The subject’s operating address is located at Flat A, 15/F., Block 10, 233 Electric Road, North Point, Hong Kong. This office is in a private building where is the residence of Lam Wai Man.
The address “Shop G, G/F., 266 Electric Road, North Point, Hong Kong” is just the subject’s registered and corresponding address.
The subject has had two associated companies located at the above‑mentioned address, namely, Yuen Tai International Development Industrial Co. and Yuen Tai International Holdings (H.K.) Ltd. [YTIH]. The latter was incorporated on 16th June, 1994.
The subject and
YTIH are engaged in the same lines of business.
The subject is trading in the following commodities:-
1. Ball Pens, other writing instruments;
2. Stationery and paper products; &
3. Office equipment, etc.
The subject’s business is chiefly handled by Lam Wai Man and his wife Ms. Hui Mei Yi. Hui can be reached at her mobile phone number 9192 9762. Hui is also the Individual Secretary of the subject.
The subject’s commodities are sourced from various suppliers. Prime markets are Hong Kong, other Asian counties, Europe, North America, etc.
The history of the subject in Hong Kong is just over two years.
On the whole, since the history of the subject is short, consider it good for normal business engagements on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.70 |
|
UK Pound |
1 |
Rs.85.72 |
|
Euro |
1 |
Rs.68.15 |
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 |
|
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 |
|
<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.