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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
ZENX TECHNOLOGY |
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Registered Office : |
c/o Asia Trade Business Services Co. Room 301C, 3/F., Wah Wan Industrial Building, 2 Kin Fat Lane, Tuen
Mun, New Territories |
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Country : |
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Date of Incorporation : |
13.01.2010 |
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Com. Reg. No.: |
51726552-000-01 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF MOBILE PHONES |
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No. of Employees : |
No Employees in (It is to be noted that
the company does not have its own operating office in |
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
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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 |
ZENX TECHNOLOGY
c/o Asia Trade Business Services Co.
Room 301C, 3/F., Wah Wan Industrial Building, 2 Kin Fat Lane, Tuen Mun,
New Territories, Hong Kong.
PHONE: 852-9804
2377
E-MAIL: zenxty@gmail.com
Manager: Mr. Karanjit Thakral
Establishment: 13th January, 2010.
Organization: Sole Proprietorship.
Capital: Not Disclosed.
Business Category: Importer,
Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ZENX TECHNOLOGY
Head Office:-
c/o Asia Trade Business Services Co.
Room 301C, 3/F., Wah Wan Industrial Building, 2 Kin Fat Lane, Tuen Mun,
New Territories, Hong Kong.
Associated
Company:-
India Zenx Technology, India.
51726552-000-01
Manager: Mr. Karanjit Thakral
Name: Mr. Karanjit THAKRAL
Residential Address: D-281
Prashant Vihar, New-Delhi- 110085, India.
The subject was established on 13th January, 2010 as a sole
proprietorship concern owned by Mr. Karanjit Thakral under the Hong Kong Business
Registration Regulations.
Formerly the subject was located at Room 404, 4/F., Mansfield Industrial
Centre, 19 Hong Yip Street, Yuen Long, New Territories, Hong Kong, moved to the
present address in May 2011.
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.
Employees: Nil.
Commodities Imported: China, etc.
Markets: India,
other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: As per contracted.
Capital: Not
Disclosed.
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.
Zenx Technology is a sole proprietorship set up and owned by Mr.
Karanjit Thakral 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 manager of
the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 301C, 3/F., Wah Wan Industrial Building, 2 Kin Fat
Lane, Tuen Mun, New Territories, Hong Kong known as Asia Trade Business
Services Co. [ATBS] which is handling its correspondences, accounting and
documents.
The subject has no employees in Hong Kong.
ATBS is operated by an Indian.
Your given mobile phone number 852‑9804 2377 belongs to the
owner of ATBS. To our knowledge, there
are a number of firms in Hong Kong using the 852-9804 2377 as their
contact number.
According to the owner of ATBS, the subject is one of the clients of
ATBS. The subject’s head office is in
New-Delhi, India. It is trading in all
kinds of mobile phones and accessories. Commodities
are chiefly sourced from Southern China.
Prime market is India. It also
exports some of the mobile phones to the other Asian countries. Business is fairly active.
The head office of the subject in India is also operated by Mr. Karanjit
Thakral.
The subject’s business in Hong Kong is not active. History in Hong Kong is over three years and
five months.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.59 |
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|
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 |
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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 |
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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.