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Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
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Name : |
UTOP COMMUNICATION TECHNOLOGY LTD. |
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Registered Office : |
C/o H&C Business (HK) Ltd. Room 1103, 11/F., Hang Seng Mongkok Building, 677 Nathan Road, Mongkok, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.05.2008 |
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Com. Reg. No.: |
39380744 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Mobile phones, other communication equipment, etc. |
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No. of Employees : |
Not Available |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
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
UTOP COMMUNICATION
TECHNOLOGY LIMITED
ADDRESS: c/o H&C Business (HK)
Ltd.
Room 1103, 11/F., Hang Seng Mongkok
Building, 677 Nathan Road, Mongkok, Kowloon, Hong Kong.
PHONE: 2668 1868
FAX: 2668 1899
Managing Director: Mr. Luo Jie,
Roger
Incorporated on: 30th
May, 2008.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employee:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o H&C Business (HK) Ltd.
Room 1103, 11/F., Hang Seng Mongkok Building, 677 Nathan Road, Mongkok,
Kowloon, Hong Kong.
Associated
Company:-
Shenzhen Utop Communication Technology Ltd.
Room 16B, Tianmian City Tower, Shennan Middle Road, Futian District,
Shenzhen Special Economic Zone, China.
[Tel: 86-755-8281 6761 Fax: 86-755-8281 6760]
39380744
1242651
Managing Director: Mr. Luo Jie,
Roger
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 30-05-2012)
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Name |
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No. of shares |
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LUO Jie |
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10,000 ===== |
(As per registry dated 30-05-2012)
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Name (Nationality) |
Address |
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LUO Jie |
201, No. 2144, Yanbei Road, Chengguan District, Lanzhou City, Gansu
Province, China. |
(As per registry dated 30-05-2012)
|
Name |
Address |
Co. No. |
|
H&C Business (HK) Ltd. |
Room 1103, 11/F., Hang Seng Mongkok Building, 677 Nathan Road,
Mongkok, Kowloon, Hong Kong. |
1441560 |
The subject was incorporated on 30th May, 2008 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: Importer, Exporter and Wholesaler.
Lines: Mobile phones, other
communication equipment, etc.
Employee: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: China, Japan, other Asian countries,
etc.
Terms/Sales:
L/C, T/T, etc.
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$10,000.00
Profit or Loss: Keeping a
balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
Facilities: Making fairly active use of general
banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
Having issued
10,000 ordinary shares of HK$1.00 each, Utop Communication Technology Ltd. is
wholly owned by Mr. Luo Jie who is a Chinese merchant. He is a China ID holder and does not have the
right to reside in Hong Kong permanently.
He is also the only director of the subject. His registered address is in Gansu Province,
China.
The subject does
not have its own operating office. Its
registered office is in a commercial service firm located at “Room 1103, 11/F.,
Hang Seng Mongkok Building, 677 Nathan Road, Mongkok, Kowloon, Hong Kong” known
as “H&C Business (HK) Ltd.” [H&C] which is handling its correspondences
and documents. This firm is also the
corporate secretary of the subject.
Your given phone
number 852-2668 1868 belongs to H&C.
The subject has no
employee in Hong Kong.
The subject is
trading in all kinds of mobile phones and accessories. Most of the products are sourced from China.
The subject has
had an associated company in Shenzhen Special Economic Zone, China, known as
Shenzhen Utop Communication Technology Ltd. [Shenzhen Utop]. Your given another phone number belongs to
Shenzhen Utop.
The contact person
and president of Shenzhen Utop is also Luo Jie.
Headquartered in
Shenzhen SEZ, Shenzhen Utop has had its R&Ds and factories in Shenzhen and
Shanghai. It is specialized in mobile
phone R&D, manufacturing and distributing GSM mobile phones, CDMA mobile
phones and LCD TVs. It always takes
R&D as the core, subtly manufacture as basic, fine after service as
guarantee. All OEM/ODM orders can rely
on its flexible design teams to cater its clients requirements. Besides strong presence in the mobile phones
market, it is constantly looking to develop new items and co‑operate with
its customers.
Shenzhen Utop’s
products are marketed in China, exported to Japan, India, other Asian
countries, Europe, etc. Business is
normal.
The subject has
registered with the Communications Authority (CA), The Government of Hong Kong
SAR, the People’s Republic of China as a Radio Dealer (Unrestricted)
Licensee. The subject bears the licence
No. of RU00133265-RU.
The China firm
deals with foreign parties under the name of the subject and let foreign firms
correspond with the subject’s registered address in Hong Kong.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is over four years.
Since the subject
does not have its own operating office and has no employee in Hong Kong,
consider it good for business engagements on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
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UK Pound |
1 |
Rs.83.70 |
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Euro |
1 |
Rs.71.42 |
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.