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Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
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Name : |
VSUN COMMUNICATION TECHNOLOGY LTD. |
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Registered Office : |
C/o Hong Kong Upright Accounting Ltd. Room A, 5/F., Unionway Commercial Centre, 283 Queen’s Road Central, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.05.2011 |
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Com. Reg. No.: |
58359011 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Manufacturer of all kinds of mobile phones and related accessories, spare parts, 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 : |
Business is not active 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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% 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,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. 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
VSUN COMMUNICATION
TECHNOLOGY LTD.
ADDRESS: c/o Hong Kong Upright
Accounting Ltd.
Room A, 5/F., Unionway Commercial Centre,
283 Queen’s Road Central, Sheung Wan, Hong Kong.
PHONE: 2850 6565
FAX: 2851 0669
Managing Director: Mr. Zhang
Xueying
Incorporated on: 16th
May, 2011.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Hong Kong Upright Accounting Ltd.
Room A, 5/F., Unionway Commercial Centre, 283 Queen’s Road Central,
Sheung Wan, Hong Kong.
Associated Companies:-
Shenzhen Vsun Communication Technology Co. Ltd.
Rooms 1901/1903, Block A, Xiangnian Square, South Area,
6060 Qiaoxiang Road, Nanshan District, Shenzhen City, China.
[Tel: 86-755-6169 5888; Fax:
86-755-6153 6970]
Shenzhen Zhang Li Information Technology Co. Ltd., China.
Shenzhen Vsun Software Design Co. Ltd., China.
Shenzhen Siu Pin E-Commerce Co. Ltd., China.
58359011
1601057
Managing Director: Mr. Zhang
Xueying
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 16-05-2012)
|
Name |
|
No. of shares |
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ZHANG Xueying |
|
5,000 |
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ZHONG Limin |
|
5,000 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 16-05-2012)
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Name (Nationality) |
Address |
|
ZHANG Xueying |
Room 1901, Block A, Xiangnian Square, South Area, 6060 Qiaoxiang
Road, Nanshan District, Shenzhen City, China. |
|
ZHONG Limin |
Room 1901, Block A, Xiangnian Square, South Area, 6060 Qiaoxiang
Road, Nanshan District, Shenzhen City, China. |
(As per registry dated 16-05-2012)
|
Name |
Address |
Co. No. |
|
Hong Kong Upright Accounting Ltd. |
Room A, 5/F., Unionway Commercial Centre, 283 Queen’s Road Central,
Sheung Wan, Hong Kong. |
1324556 |
The subject was incorporated on 16th May, 2011 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 Manufacturer.
Lines: All kinds of mobile phones and
related accessories, spare parts, etc.
Trade Mark: “Vsun”.
Employees: Nil.
Commodities Imported: China (main), other Asian countries, etc.
Markets: China,
Japan, India, other Asian countries, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C, T/T, 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.
Vsun Communication Technology Ltd. [VCTL] was formed in Hong Kong on
16th May, 2011. With a nominal and
issued share capital of HK$10,000.00, the company is equally owned by two PRC
merchants know as Ms. Zhang Xueying and Mr. Zhong Limin.
VCTL has no direct office in Hong Kong.
Its registered office is located at Room A, 5/F., Unionway Commercial
Centre, 283 Queen’s Road Central, Sheung Wan, Hong Kong. This is the operating office of a business
consultant firm Hong Kong Upright Accounting Ltd. The consultant company is providing company
secretarial and correspondence services to VCTL. VCTL has also no employees in Hong Kong.
The shareholders Ms. Zhang Xueying and Mr. Zhong Limin are also the
Directors of VCTL. Currently both are
residing in Shenzhen Special Economic Zone, China.
As far as we know, they are the principals of Shenzhen Vsun
Communication Technology Ltd. [SZVCTL] which is a Shenzhen-based firm.
The details of SZVCTL are as follow:-
Name: SZVCTL
Address: Rooms 1901/1903,
Block A, Xiangnian Square, South Area, 6060 Qiaoxiang Road, Nanshan
District, Shenzhen City, China.
Phone Number: 86-755-6169 5888
Fax Number: 86-755-6153 6970
Nature of Business: Manufacture
and Sale of Mobile Phones.
The correspondence address of the directors are the same address as
SZVCTL.
With a registered capital of RMB30 million Yuan, SZVCTL was established
in Shenzhen in May 2011. SZVCTL is a
private high-tech enterprise engaged in the design, research and development,
manufacture and sale of mobile phones and related accessories and parts. With operation center in Shenzhen and
manufacturing base in Huizhou, SZVCTL directly or indirectly employ over 100
people in China. Since its
establishment, it has become an ODM supplier serving customers worldwide. It has also extended its business into Wireless
Terminal Internet Service and international distribution with its own brand “Vsun”. Its “Vsun” mobile phones with features
innovation, quality and cost effectiveness are well received in the
market. Models designed and developed
includes N616, N618, N628B, N628C, N638B, N629, N928B, N958B, N968B, etc.
Currently SZVCTL has over 600 employees.
Its products have been marketed in China since March 2012. It prime markets are Japan, India, the other
Asian countries, South America, etc.
Besides, SZVCTL has had associated companies engaged in the development
of software, information technology, e-commerce, etc.
VCTL has registered with the Office of the Communications Authority
(OFCA), The Government of Hong Kong SAR, the People’s Republic of China as a
Radio Dealer (Unrestricted) Licensee. It
bears the licence No. of RU00146779-RU.
Nominally VCTL is a supporting office for SZVCTL. It is using the Hong Kong registered address
for international trading purposes.
VCTL’s business in Hong Kong is not active. History in Hong Kong is just about two years.
On the whole, consider it good for normal business engagements on L/C
basis for the time being.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
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|
1 |
Rs.82.43 |
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Euro |
1 |
Rs.70.49 |
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 |
|
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 |
|
-- |
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.