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Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
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Name : |
DEWAV
(HK) ELECTRONICS LTD. |
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Registered Office : |
Unit No. 1, 12/F., Perfect Industrial Building, 31 Tai Yau Street, San Po Kong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.06.2011 |
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Com. Reg. No.: |
58591726 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Telecommunication Equipment Trader of Mobile phones, spare parts, software, etc. |
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No. of Employees : |
6. (Including
associates) |
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 : |
Moderate |
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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 (31.03.2011) |
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
DEWAV (HK) ELECTRONICS LTD.
Unit No. 1, 12/F., Perfect Industrial Building, 31 Tai Yau Street, San Po Kong, Kowloon, Hong Kong.
PHONE: 2793 4308
FAX: 2793 4678
E-MAIL: sales@dewav.com
Managing Director: Mr. Deng Li
Incorporated on: 30th June, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Telecommunication Equipment Trader.
Employees: 6. (Including associates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit No. 1, 12/F., Perfect Industrial Building, 31 Tai Yau Street, San Po Kong, Kowloon, Hong Kong.
Holding Company:-
Shanghai Dewav Software Technology Co., Ltd.
Room 116, Block 2, 4091 Shangnan Road, Pudong New Area, Shanghai, China.
Associated/Affiliated Companies:-
· Dewav (HK) Communication Technology Ltd., Hong Kong.(Same address)
Dewav
(Holdings) Ltd., Cayman Islands.
Dewav
(Singapore) Holdings Pte. Ltd., Singapore.
Dewav
Management Pte. Ltd., Singapore.
Gionee
(HK) Communication Equipment Ltd., Hong Kong. (Same address)
Gionee
(HK) Communication Technology Ltd., Hong Kong. (Same address)
Jurong
Hi-Tech (Suzhou) Co. Ltd., China.
Shanghai
Dewav Communication Technology Co. Ltd., China.
58591726
1624206
Managing Director: Mr. Deng Li
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 30-06-2011)
|
Name |
|
No. of shares |
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Shanghai Dewav Software Technology Co. Ltd. |
|
10,000 ===== |
(As per registry
dated 30-06-2011)
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Name (Nationality) |
Address |
|
DENG Li |
Unit 106, 1/F., Max Trade Centre, 23 Luk Hop Street, San Po Kong, Kowloon, Hong Kong. |
(As per registry
dated 30-06-2011)
|
Name |
Address |
|
NG Ching Yee |
Room 905, 9/F., Wah Ying Cheong Central Building, 158 Queen’s Road Central, Hong Kong. |
The subject was incorporated on 30th June, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit 106, 1/F, Max Trade Centre, 23 Luk Hop Street, San Po Kong, Kowloon, Hong Kong, moved to the present address in November 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Telecommunication Equipment Trader.
Lines: Mobile phones, spare parts, software, etc.
Employees: 6. (Including associates)
Commodities Imported: China, Europe, US, etc.
Markets: China, Southeast Asia, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: 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: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
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: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Dewav (HK) Electronics Ltd. is wholly owned by Shanghai Dewav Software Technology Co. Ltd. [Shanghai Dewav] which is a Shanghai-based firm.
The only director of the subject Mr. Deng Li is a China merchant. He is a China passport holder and does not have the right to reside in Hong Kong permanently.
The subject commenced business in June 2011. It is sharing the operating office with its associate company Dewav (HK) Communication Technology Ltd. which is also a Hong Kong-registered firm.
The subject is a communication product, chiefly mobile phones, and software trader. It also trades in the products of Shanghai Dewav.
The subject is one of the members of the Dewav Group. In 2008, the Group acquired a plant in Suzhou City, Jiangsu Province, China via Dewav Management Pte. Ltd. [DMPL]. Currently, Dewav Group is holding 30% of DMPL. The other 70% is held by Jurong Technologies Industrial Corporation Ltd. [Jurong]. Jurong is a 9% owner of Dewav (Holdings) Ltd., a firm registered in the Cayman Islands.
Shanghai Dewav is a hi-tech enterprise specialized in design and manufacture of communication terminal and consumer electronics in China. It is staffed by over 100 technical employees and builds up a completed quality control system, thus offering the company an all-round competence in design from hardware, software, mechanical design, moulding to mass production. Now, Shanghai Dewav has developed into one of the three best design companies in China. The annual sales volume is over 8 million sets of Dewav’s products, while extensively expanding overseas markets which covered Europe and Southeast Asia.
Shanghai Dewav is supported by Microsoft, Samsung, ADI and so on. It has launched various terminal products such as feature phone, smart phone based on Windows Mobile 6.0, 3G phone (TD-SCDMA), GPS Navigator (PND). It also has developed cooperation relationships with many distinguished companies which include ZTE, Haier, etc.
The annual sales turnover of Shanghai Dewav is quite significant.
The subject is fully supported by Shanghai Dewav. History in Hong Kong is just over a year.
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.53.32 |
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UK Pound |
1 |
Rs.84.60 |
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Euro |
1 |
Rs.72.63 |
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 |
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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 |
---- |
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.