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Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
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Name : |
TELACOM COMMUNICATION DEVICE LTD. |
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Registered Office : |
c/o Joy Enterprise Secretary Services Ltd. Room C, 19/F., Lockhart Centre, 301-307 Lockhart Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.06.2012 |
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Com. Reg. No.: |
59909530 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Telecommunication Product Trader of All kinds of mobile phones. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
TELACOM
COMMUNICATION DEVICE LTD.
c/o Joy Enterprise Secretary Services Ltd.
Room C, 19/F., Lockhart Centre, 301-307 Lockhart Road, Wanchai,
Hong Kong.
PHONE: 852-2598 8776
FAX: 852-2598 8909
Managing Director: Mr. Xu Bin
Incorporated on: 5th June, 2012.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Telecommunication
Product Trader.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
TELACOM
COMMUNICATION DEVICE LTD.
Registered
Office:-
c/o Joy Enterprise Secretary Services Ltd.
Room C, 19/F., Lockhart Centre, 301-307 Lockhart Road, Wanchai, Hong
Kong.
Holding Company:-
Telacom Int’l Group Ltd., British Virgin Islands.
Associated
Companies:-
Shenzhen Telacom Science & Technology Co. Ltd., China.
Telacom Group FMK (Shenzhen) Electronics Co. Ltd., China.
Telacom Int’l Ltd., Hong Kong.
Telacom Interconnection Science & Technology Development Co. Ltd.,
China.
Telacom International (Dubai) Ltd., U.A.E.
59909530
1755358
Managing Director: Mr. Xu Bin
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 05-06-2013)
|
Name |
|
No. of shares |
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Telacom Int’l Group Ltd. P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola,
British Virgin Islands. |
|
10,000 ===== |
(As per registry dated 05-06-2013)
|
Name (Nationality) |
Address |
|
XU Bin |
No. 1, 3/F., Unit 2, Building 18XI, No. 1039, Shili Dadao, Lushan
District, Jiujiang City, Jiangxi Province, China. |
(As per registry dated 05-06-2013)
|
Name |
Address |
Co. No. |
|
Joy Enterprise Secretary Services Ltd. |
Room C, 19/F., Lockhart Centre, 301‑307 Lockhart Road,
Wanchai, Hong Kong. |
1336601 |
The subject was incorporated on 5th June, 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: Telecommunication
Product Trader.
Lines: All
kinds of mobile phones.
Brand Name: MFU.
Employees: Nil.
Commodities Imported: China, etc.
Markets: Asian
countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C
or as per contracted.
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: Too
early to offer an opinion.
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.
Telacom Communication Device Ltd. is a wholly-owned subsidiary of
Telacom Int’l Group Ltd. which is a BVI-registered firm. The director of the subject Mr. Xu Bin is a
China 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.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room C, 19/F., Lockhart Centre, 301‑307 Lockhart
Road, Wanchai, Hong Kong” known as “Joy Enterprise Secretary Services Ltd.” which
is handling its correspondences and documents.
This company is also the corporate secretary of the subject.
The subject has no employees in Hong Kong. It is a mobile phone trader. It 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. The subject bears the licence No. of
RU00158851-RU.
The subject has had an associated company Shenzhen Telacom Science &
Technology Co. Ltd. [Shenzhen Telacom], China.
The contact person of Shenzhen Telacom is also Xu Bin.
The subject and Shenzhen Telacom belong to the Telacom Group. With its head office in Shenzhen Special
Economic Zone, China, the Group is engaged in R&D and manufacturing all
kinds of mobile phones. It has set up a
R&D Centre in Beijing, China which has about 300 employees. Besides, it has set up offices and affiliated
companies in the Middle East, South America, etc.
Now, the Group has got ISO9001 and ISO14001 certification.
The brand name of mobile phones of the Group is MFU which is the
abbreviation of “Made For You”.
The subject has had another associated company in Hong Kong known as
Telacom Int’l Ltd. [Telacom Int’l], a Hong Kong-registered firm located at the
operating office of another secretarial firm.
Telacom Int’l also 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 RU00153546-RU.
The subject has had another associated company Telacom Interconnection
Science & Technology Development Co. Ltd. [Telacom Interconnection] which
is in Shenzhen SEZ, China.
Telacom Interconnection was established in 1999. It is a professional enterprise specialized
in the R&D, manufacturing and sales of wireless terminal products. It has established a complete wireless
terminal industry chain with investment in the parts manufacturing, components
distribution, mobile phone R& D, manufacturing, sales and value-added
services to effectively control its operation costs.
The headquarter of Telacom Interconnection is in Beijing. Its 5, 000 sq.m. factory in Shenzhen is well
equipped with state-of-the-art machines which are imported from abroad.
The business of the Group is expanding.
The subject’s business in Hong Kong is not active. History in Hong Kong is over a year.
On the whole, since the subject does not have its own operating office and
has no employees in Hong Kong, consider it good for business engagements on L/C
basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
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|
1 |
Rs.94.17 |
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Euro |
1 |
Rs.81.70 |
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 |
|
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.