MIRA INFORM REPORT
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Report Date : |
14.05.2013 |
IDENTIFICATION DETAILS
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Name : |
Windows Power Technology Co. Ltd. |
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Registered Office : |
Shop No.23, 1/F., Chung King Mansion, 36-44 Nathan Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.06.2008 |
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Com. Reg. No.: |
39467085 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER AND EXPORTER OF MOBILE PHONES, IPHONE PARTS,
ACCESSORIES, ELECTRONIC PRODUCTS, ETC. |
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No. of Employees : |
2 |
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 : |
Small Company |
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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 – 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
WINDOWS
POWER TECHNOLOGY CO.
LTD.
ADDRESS: Shop No. 23, 1/F., Chung King
Mansion, 36-44 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 6776 7879
FAX: 3489 9402
Managing
Director: Ms. Zou Di, Judy
Incorporated on: 20th June, 2008.
Organization: Private Limited Company.
Capital: Nominal:HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer and Exporter.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Lianbang Int’l
Business (HK) Ltd.
Unit 704, 7/F.,
Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong.
Operating Office:-
Shop No. 23, 1/F.,
Chung King Mansion, 36-44 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
Shenzhen Office:-
32N, Block B,
Modern Windows Building, Huaqiang North Road, Futian District, 518000 Shenzhen
Special Economic Zone, China.
[Tel: 86-755-6168
3379; Fax: 86-755-6168 3393]
39467085
1249286
Managing
Director: Ms. Zou Di, Judy
Contact
Person: Mr. Yasir
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 20-06-2012)
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Name |
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No. of shares |
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Raja Babu SHAH |
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6,000 |
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ZOU Di |
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4,000 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 20-06-2012)
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Name (Nationality) |
Address |
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Raja Babu SHAH |
32N, Block B, Modern Windows Building, Huaqiangbei, Futian District, Shenzhen, China. |
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ZOU Di |
32N, Block B, Modern Windows Building, Huaqiangbei, Futian District, Shenzhen, China. |
(As per registry dated 20-06-2012)
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Name |
Address |
Co. No. |
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Lianbang Int’L Business (HK) Ltd. |
Unit 704, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong. |
1244280 |
The subject was incorporated on 20th June, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Flat 7C-05, 7/F., Block C, Ka Ming Court, 688-690 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong, moved to Room 609A, 6/F., Fook Cheong Building, 63 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong in November, 2009. The subject’s registered address further moved to the present address in July 2012.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter.
Lines: Mobile phones, iphone parts, accessories, electronic products, etc.
Employees: 2.
Commodities Imported: China, Europe, etc.
Markets: Hong Kong, Nepal, India, other Asian countries, etc.
Terms/Sales: As per contracted.
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$10,000.00
Profit or Loss: Made a very small profit in 2011 & 2012.
Condition: Business is improving.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as contracted.
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, Windows Power Technology Co. Ltd. is jointly owned by Mr. Raja Babu Shah, holding 60% interests; and Ms. Judy Zou Di, holding 40%. Shah is a Nepal passport holder while Zou Di is a China businesswoman holding a China passport. They are also directors of the subject and currently residing in Shenzhen Special Economic Zone, China.
The subject’s registered office is in a commercial service firm located at Unit 704, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong known as Lianbang Int’l Business (HK) Ltd. which is handling its correspondences and documents. This firm is also the new corporate secretary of the subject.
The subject has had a retailing shop located at Shop No. 23, 1/F., Chung King Mansion, 36-44 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. The contact person is Mr. Yasir who can be reached at his mobile phone number 852-6776 7879.
The subject has 2 employees in Hong Kong.
The subject is a global trading company trading in mobile phones, iphone parts and accessories.
The subject’s main office is in Shenzhen Special Economic Zone, China. The contact person Mr. Raja Babu Shah can be reached at his mobile phone number 86-132 6712 7642. The subject also has had an office in India.
The subject is exporting OEM/Chinese mobile phones from China to India, Hong Kong and the other foreign countries.
In particular, the subject is specialized in trading in the following products:-
Micro SD/Mini SD/DV‑RS MMC Mobile Card/M2 stick/Pro Duo stick/Compact Flash Card and USB Flash Drive products for data storage in Mobile Phones, Digital Cameras, Products for iPhone parts, PSPs and Computers, etc.
The subject’s main office bearing the same name as the subject, in Shenzhen Special Economic Zone, China, is managed by the two shareholders of the subject.
According to the subject, it is regularly buying mobile phones, memory cards, USB flash drives. It is regularly selling mobile phones, Chinese mobile phones, memory cards, flash cards, USB flash drives, MP3 player, MP4 player, bluetooth headsets, card readers, etc. Products are chiefly exported to North America, Europe, Australia, the Middle East, Japan, etc.
The subject has got the following associated companies/business partners:-
· Kline Exports, India
· Pan6 Enterprise, India
· RK Exports Co. Ltd., Republic of Mauritius
The subject’s Shenzhen office is using the subject’s Hong Kong registered address to correspond with foreign parties.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and in Mumbai, India.
The subject’s business in Hong Kong is improving, history in Hong Kong is over four years.
On the whole, consider it good for business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.92 |
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|
1 |
Rs.84.44 |
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Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.