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Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
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Name : |
HONG KONG KECHAODA TECHNOLOGY CO. LTD. |
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Registered Office : |
Room C-4B, 11/F., Wing Hing Industrial Building, 14 Hing Yip Street,
Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.10.2011 |
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Com. Reg. No.: |
59070880 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF MOBILE PHONES AND ACCESSORIES |
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No. of Employees : |
2 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
HONG KONG KECHAODA
TECHNOLOGY CO. LTD.
Room C-4B, 11/F., Wing Hing Industrial Building, 14 Hing Yip Street,
Kwun Tong, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available
Managing Director: Mr. Lin Luxian
Incorporated on: 17th October, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Mobile
phone trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONG KONG KECHAODA
TECHNOLOGY CO. LTD.
Registered Head
Office:-
Room C-4B, 11/F., Wing Hing Industrial Building, 14 Hing Yip Street,
Kwun Tong, Kowloon, Hong Kong.
Associated
Company:-
Shenzhen Kechaoda Technology Co. Ltd.
1) Room D, 8/F., Block A,
Modern’s Window Building, Huaqiang North Road, Shenzhen SEZ, China.
2) Hongxin Industrial Park,
Guanlan Jiedao, Bao’an District, 518031 Shenzhen SEZ, China.
[Tel: 86-755-8364 9311 Fax:
86-755-8364 9391]
Affiliated
Company:-
Hong Kong Best Seller International Co., Hong Kong.
59070880
1671887
Managing Director: Mr. Lin Luxian
Contact Person: Mr. Chan Tat Ming
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 17-10-2012)
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Name |
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No. of shares |
|
LIN Luxian |
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10,000 ===== |
(As per registry dated 17-10-2012)
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Name (Nationality) |
Address |
|
LIN Luxian |
No. 601, 10 Chuang, Nanyuanxincun, Laushabei Street, Puning,
Guangdong, China. |
(As per registry dated 17-10-2012)
|
Name |
Address |
Co. No. |
|
Fanling Accounting Co. Ltd. |
G/F., 33 Luen Cheong Street, Fanling, New Territories, Hong Kong. |
0881915 |
The subject was incorporated on 17th October, 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 Wholesaler.
Lines: All kinds of mobile phones and accessories
Brand Names: Kechaoda, MUphone, K&C.
Employee: 2.
Commodities Imported: China and
other Asian countries, etc.
Markets: China, India, 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 under development.
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, Hong Kong Kechaoda
Technology Co. Ltd. is wholly owned by Mr. Lin Luxian who is a China
merchant. He is a China passport holder
and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject is trading in all kinds of mobile phones and
accessories. It is carrying GSM/PCS
mobile phones and related accessories which are chiefly sourced from the
suppliers in China. However, it has had
an associated factory Shenzhen Kechaoda Technology Co. Ltd. [Shenzhen Kechaoda]
which is a Shenzhen-based company.
The subject 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 RU00151794-RU.
The subject has had a contact number 852-9612 8158 which is a mobile
phone number. This number belongs to Mr.
Chan Tat Ming who is the single employee of the subject in Hong Kong. He is a Hongkongnese. Another employee of the subject can be
reached at his mobile phone number 852-9140 0775.
Shenzhen Kechaoda is a mobile phone designer, developer and
manufacturer. Its products are exported
to India, Thailand, Indonesia, Pakistan, Bangladesh, Africa, etc., in total
there are over thirty countries.
Shenzhen Kechaoda has registered its trade mark Kechaoda with
Trade Marks Registry, Intellectual Property Department, the Government of the
Hong Kong SAR. This trade mark was
registered on 19th August, 2011 and the expiry date is 18th August 2021. Besides Kechaoda, Shenzhen Kechaoda
has had other brand names such as MUphone, K&C.
According to Shenzhen Kechaoda, its Kechaoda mobile phones have
the following characteristics:-
·
2.2” QCIF Screen;
·
BP-9L Big Battery 2400 Mah;
·
Compatible with NOKIA BP-4L Battery;
·
Dual SIM Dual Standby 900/1800 MHZ;
·
Super Loudspeaker Music Phone;
·
Support Bluetooth/Camera/Torch/3.5 mm Audio Jack;
&
·
Support MP3/MP4/FM/GPRS.
Shenzhen Kechaoda is also owned and operated by Mr. Lin Luxian who is
the shareholder of the subject.
Currently, Lin is residing in Puning City, Guangdong Province, China.
Shenzhen Kechaoda was established in 1998 with a registered capital of
RMB20 million Yuan.
As a China social welfare enterprise, Shenzhen Kechaoda has the
responsibility to shoulder social responsibility. It now has more than 600 employees with
disabilities, at the same time, it is supporting 1,000 disabled patients. Shenzhen Kechaoda’s goal is to build the
world’s largest base of employment for the disabled people.
The subject has had an affiliated company Hong Kong Best Seller
International Co., a Hong Kong-registered firm, located at the same building.
The subject’s business in Hong Kong is still under development. History is just over a year.
Since the history of the subject is short in Hong Kong, consider it good
for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
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|
1 |
Rs.92.97 |
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Euro |
1 |
Rs.80.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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.