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Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
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Name : |
CHINA TOP TECHNOLOGY LTD. |
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Registered Office : |
c/o Gateway Registration Ltd., Unit 1A, 14/F., Chun Wo Commercial Centre,
23-29 Wing Wo Street, Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.10.2012 |
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Com. Reg. No.: |
60465965 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF MOBILE PHONES, MOBILE PHONE ACCESSORIES,
ELECTRONIC PRODUCTS, ETC. |
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|
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No. of Employees : |
1 |
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 – 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 |
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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 |
CHINA TOP TECHNOLOGY
LTD.
c/o Gateway Registration Ltd.
Unit 1A, 14/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street,
Central, Hong Kong.
PHONE: 5107 0491 (mobile phone
number)
Managing Director: Mr. Isthikar
Mohamed Mohideen
Incorporated on: 11th October, 2012.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Annual Turnover: Too early to obtain figure.
Employees: 1.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Too early to comment.
CHINA TOP
TECHNOLOGY LTD
Registered
Office:-
c/o Gateway Registration Ltd.
Unit 1A, 14/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street,
Central, Hong Kong.
60465965
1810747
Managing Director: Mr. Isthikar
Mohamed Mohideen
Contact Person: Mr. Hameed
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 15-11-2012)
|
Name |
|
No. of shares |
|
GNL12 Ltd., Hong Kong. |
|
1 |
|
Isthikar MOHAMED MOHIDEEN |
|
9,999 |
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|
|
–––––– |
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Total: |
10,000 ===== |
(As per registry dated 15-11-2012)
|
Name (Nationality) |
Address |
|
Isthikar MOHAMED MOHIDEEN |
No. 23, 6th Street, A K Samy Nagar, Secretariat Colony Kellys,
Chennai-600010, Tamil Nadu, India. |
(As per registry dated 15-11-2012)
|
Name |
Address |
Co. No. |
|
Global Associates Ltd. |
Unit A, 10/F., Tack Building, 48 Gilman Street, Central, Hong Kong. |
1695695 |
The subject was incorporated on 11th October, 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: Importer,
Exporter and Wholesaler.
Lines: Mobile
phones, mobile phone accessories, electronic products, etc.
Employees: 1.
Commodities Imported: China, other
Asian countries, etc.
Markets: India,
other Asian countries, etc.
Annual Turnover: Too
early to obtain figure.
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: Too early to comment
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Hang Seng Bank Ltd., Hong Kong.
Standing: Small
China Top Technology Ltd. commenced business in October, 2012.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Unit 1A, 14/F., Chun Wo Commercial Centre, 23-29 Wing
Wo Street, Central, Hong Kong known as Gateway Registration Ltd. which is
handling its correspondences and documents.
The corporate secretary of the subject Global Associates Ltd. is located
at a different address.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each of which 9,999 shares are owned by Mr.
Isthikar Mohamed Mohideen 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.
The subject has had a representative in Hong Kong known as Mr. Hameed
who is also an Indian. He can be reached
at your given mobile phone number 852-5107 0491.
The subject is trading in the following commodities:-
·
Accessories of mobile phones;
·
Mobile phones; &
·
Other electronic products as entrusted by
customers.
Most of the commodities are sourced from Southern China. Prime markets are India, Southeast Asia,
etc. Business is still under
development.
It is likely that the subject has had an associated company in India
which is also operated by Mohamed Mohideen.
The India firm is also a mobile phone trader.
The subject’s history in Hong Kong is just about three months.
Since the subject’s history is short, consider it good for business
engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.71.32 |
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 |
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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 |
|
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 |
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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 |
|
<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.