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Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
MASTER TELECOMMUNICATION CO. LTD. |
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Registered Office : |
c/o Akin Professionals Ltd., 20/F., Champion Building, 287-291 Des
Voeux Road Central, Sheung Wan |
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|
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Country : |
Hong Kong |
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|
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Date of Incorporation : |
10.03.2009 |
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|
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Com. Reg. No.: |
50456350 |
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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, ACCESSORIES, ETC |
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|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office in Hong Kong |
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|
|
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
MASTER
TELECOMMUNICATION CO. LTD.
c/o Akin Professionals Ltd.
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan,
Hong Kong.
Formerly located
at:
Flat 5, 1/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong
Kong.
PHONE: 2541 4224, 2854 2812
FAX: 2541 4225
E-MAIL: mastercare@mail.com
Managing Director: Mr. Deepak Kumar Gyanchandani
Incorporated on: 10th March, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Importer,
Exporter and Wholesaler.
Employee: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
MASTER
TELECOMMUNICATION CO. LTD.
Registered
Office:-
c/o Akin Professionals Ltd.
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan,
Hong Kong.
50456350
1314697
Managing Director: Mr. Deepak
Kumar Gyanchandani
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 10-03-2012)
|
Name |
|
No. of share |
|
Deepak Kumar GYANCHANDANI |
|
1 = |
(As per registry dated 10-03-2012)
|
Name (Nationality) |
Address |
|
Deepak Kumar GYANCHANDANI |
15 MIG Shaheed Nagar, PO PS Sadar Distt. Agra, UP, India. |
(As per registry dated 10-03-2012)
|
Name |
Address |
Co. No. |
|
Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan,
Hong Kong. |
1273165 |
The subject was incorporated on 10th March, 2009 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat 5, 1/F., Star Mansion, 3 Minden
Row, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in
October 2011. The new address is the
operating office of Akin Professionals Ltd.
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, accessories, etc.
Employee: Nil.
Commodities Imported: China,
Europe, Asian countries, etc.
Markets: 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$1.00
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.
Master Telecommunication Co. Ltd. is wholly owned by Mr. Deepak Kumar
Gyanchandani who is an Indian. He is an
India passport holder and does not have the right to reside in Hong Kong
permanently. He is also the only
director of the subject. Currently, he
is residing in India.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “20/F., Champion Building, 287‑291 Des Voeux
Road Central, Sheung Wan, Hong Kong” known as “Akin Professionals Ltd.” which
is handling its correspondences and documents.
This firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong. It is trading in all kinds of
telecommunication equipment such as mobile phones, accessories, etc.
Incorporated in March 2009, the subject is trading in GSM/PCS mobile
phones and accessories. Most of the
commodities are sourced from China.
India is its prime market.
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. The subject bears the licence No. of
RU00151441-RU.
It is likely that the subject has got an associated company in India
which is also operated by the Gyanchandani.
The India firm is also a mobile phone trader.
The subject’s business is handled by Gyanchandani himself. The history of the subject in Hong Kong is
just over three years.
Since the subject does not have its own operating office and has no
employees in Hong Kong, on the whole, consider it good for business engagements
on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.42 |
|
UK Pound |
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.