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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
ASION-STAR TECHNOLOGY (HK) INTERNATIONAL CO. LTD. |
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Registered Office : |
c/o Hongkong Kamkiu Registration Ltd. Room 603, 6/F., Hang Pont Commercial Building, 31 Tonkin Street,
Cheung Sha Wan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.10.2009 |
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Com. Reg. No.: |
51291155 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
MANUFACTURER,
IMPORTER AND EXPORTER OF ALL KINDS OF MOBILE PHONES |
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No. of Employees : |
No Employees in Hong Kong (It is to be noted that the company does not have
its own operating office in Hong Kong. The company uses the address of its
secretariat as its correspondence address only. Subject operates from some
other country and does not have a base in Hong Kong. Such companies are
registered in Hong Kong just to tax benefit purpose and due to the strict
privacy laws prevailing in the country. In such cases, the companies are not
required to have any employees in Hong Kong nor do have an office there.) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating office in Hong Kong |
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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) |
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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 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 |
ASION-STAR
TECHNOLOGY (HK) INTERNATIONAL CO. LTD.
c/o Hongkong Kamkiu Registration Ltd.
Room 603, 6/F., Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha
Wan, Kowloon, Hong Kong.
Old Address At:
Room B1, 8/F., Chong Ming Building, 72 Cheung Sha Wan Road, Kowloon,
Hong Kong.
PHONE: 852-3585 7483
FAX: 852-3585 7491
Managing Director: Mr. Guo Quan
Sheng
Incorporated on: 16th October, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Mobile
Phone Trader.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ASION-STAR
TECHNOLOGY (HK) INTERNATIONAL CO. LTD.
Registered
Office:-
c/o Hongkong Kamkiu Registration Ltd.
Room 603, 6/F., Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha
Wan, Kowloon, Hong Kong.
Associated
Company:-
Gostar International (Hong Kong) Co. Ltd., Hong Kong.
Shenzhen Huajitong Scientific & Technology Co. Ltd.
Room 401, Block A, Lan Guang Building, Zhenhua Road, Futian District,
Shenzhen SEZ, China.
[Tel: 0755-23808905,
Fax: 0755-2380 8909]
51291155
1382047
Managing Director: Mr. Guo Quan
Sheng
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 16-10-2012)
|
Name |
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No. of shares |
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GUO Quan Sheng |
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10,000 ===== |
(As per registry dated 16-10-2012)
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Name (Nationality) |
Address |
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GUO Quan Sheng |
No. 47, Dianhouzheng Road, Kunyang Town, Pingyang County, Zhejiang
Province, China. |
(As per registry dated 16-10-2012)
|
Name |
Address |
Co. No. |
|
Hongkong Kamkiu Registration Ltd. |
Room 603, 6/F., Hang Pont Commercial Building, 31 Tonkin Street,
Cheung Sha Wan, Kowloon, Hong Kong. |
1250522 |
The subject was incorporated on 16th October, 2009 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Room B1, 8/F.,
Chong Ming Building, 72 Cheung Sha Wan Road, Kowloon, Hong Kong, moved to the
present address with effect from October 2012 as it has changed its commercial
service provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Manufacturer,
Importer and Exporter.
Lines: All
kinds of mobile phones.
Brand name: YXTEL.
Employees: Nil.
Commodities Imported: China, etc.
Markets: Japan,
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 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.
Having issued 10,000 ordinary shares of HK$1.00 each, Asion-Star
Technology (HK) International Co. Ltd. is wholly owned by Mr. Guo Quan Sheng
who 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 603, 6/F., Hang Pont Commercial Building, 31
Tonkin Street, Cheung Sha Wan, Kowloon, Hong Kong” known as “Hongkong
Kamkiu Registration 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 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
RU00150817-RU.
Its products bear the band name XYTEL. The subject is trying to register its trade
mark XYTEL with Trade Marks Registry, Intellectual Property Department,
the Government of the Hong Kong SAR. The
registration is underway.
The subject has had an associated company in Shenzhen Special Economic
Zone, China known as Shenzhen Huajitong Scientific & Technology Co. Ltd.
[Huajitong]. Your given phone and fax
number 0755-2380 8905 and 0755‑2380 8909 respectively belong to this
firm.
Huajitong has had an associated factory in Shenzhen which covers an area
of about 50,000 sq.m. and employing 1,000 person. It is engaged in manufacturing all kinds of
mobile phone bearing the brand name XYTEL. The legal representative of Huajitong is also
Guo Quan Sheng.
It is likely that the Huajitong deals with foreign parties under the
name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong.
Huajitong also exports commodities to foreign markets under the name of
the subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over three years.
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.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses the
address of its secretariat as its correspondence address only. Subject operates
from some other country and does not have a base in Hong Kong. Such companies
are registered in Hong Kong just to tax benefit purpose and due to the strict
privacy laws prevailing in the country. In such cases, the companies are not
required to have any employees in Hong Kong nor do have an office there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.59 |
|
|
1 |
Rs.92.92 |
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Euro |
1 |
Rs.78.94 |
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 |
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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.