MIRA INFORM REPORT
|
Report Date : |
14.11.2013 |
|
|
|
|
Tel. No.: |
+86 755 883696664-821 |
|
Fax No. : |
+86 755 83756862 |
IDENTIFICATION DETAILS
|
Name : |
HK GOLD STAR TECHNOLOGY COMPANY LIMITED |
|
|
|
|
Operating Office : |
Room 307-308, Tower B, Phase-1, High-Tech Plaza, Tian’an Cyber Park, Futian District, Shenzhen, Guangdong Province, 518040 PR |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
18.05.2011 |
|
|
|
|
Com. Reg. No.: |
1602536 |
|
|
|
|
Legal Form : |
Private |
|
|
|
|
LINE OF BUSINESS : |
SUBJECT
ENGAGED IN RETAILING OF MOBILE PHONES & ACCESSORIES |
|
|
|
|
No. of Employees : |
10 employees |
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 : |
Not Registered
in China |
|
Payment Behaviour : |
Unknown |
|
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) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system
to a more market-oriented one that plays a major global role - in 2010 China
became the world's largest exporter. Reforms began with the phasing out of
collectivized agriculture, and expanded to include the gradual liberalization
of prices, fiscal decentralization, increased autonomy for state enterprises,
creation of a diversified banking system, development of stock markets, rapid
growth of the private sector, and opening to foreign trade and investment.
China has implemented reforms in a gradualist fashion. In recent years, China
has renewed its support for state-owned enterprises in sectors it considers
important to "economic security," explicitly looking to foster
globally competitive national champions. After keeping its currency tightly
linked to the US dollar for years, in July 2005 China revalued its currency by
2.1% against the US dollar and moved to an exchange rate system that references
a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of
the renminbi against the US dollar was more than 20%, but the exchange rate
remained virtually pegged to the dollar from the onset of the global financial
crisis until June 2010, when Beijing allowed resumption of a gradual
appreciation. The restructuring of the economy and resulting efficiency gains
have contributed to a more than tenfold increase in GDP since 1978. Measured on
a purchasing power parity (PPP) basis that adjusts for price differences, China
in 2012 stood as the second-largest economy in the world after the US, having
surpassed Japan in 2001. The dollar values of China's agricultural and
industrial output each exceed those of the US; China is second to the US in the
value of services it produces. Still, per capita income is below the world
average. The Chinese government faces numerous economic challenges, including:
(a) reducing its high domestic savings rate and correspondingly low domestic
demand; (b) sustaining adequate job growth for tens of millions of migrants and
new entrants to the work force; (c) reducing corruption and other economic
crimes; and (d) containing environmental damage and social strife related to
the economy's rapid transformation. Economic development has progressed further
in coastal provinces than in the interior, and by 2011 more than 250 million
migrant workers and their dependents had relocated to urban areas to find work.
One consequence of population control policy is that China is now one of the
most rapidly aging countries in the world. Deterioration in the environment -
notably air pollution, soil erosion, and the steady fall of the water table,
especially in the North - is another long-term problem. China continues to lose
arable land because of erosion and economic development. The Chinese government
is seeking to add energy production capacity from sources other than coal and
oil, focusing on nuclear and alternative energy development. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to under 8% for 2012. An economic slowdown in Europe
contributed to China's, and is expected to further drag Chinese growth in 2013.
Debt overhang from the stimulus program, particularly among local governments,
and a property price bubble challenge policy makers currently. The government's
12th Five-Year Plan, adopted in March 2011, emphasizes continued economic
reforms and the need to increase domestic consumption in order to make the
economy less dependent on exports in the future. However, China has made only
marginal progress toward these rebalancing goals.
|
Source : CIA |
COMPANY NAME &
ADDRESS
HK GOLD STAR TECHNOLOGY COMPANY LIMITED
Room
307-308, TOWER B, PHASE-1, HIGH-TECH PLAZA, TIAN’AN CYBER PARK,
FUTIAN
DISTRICT, SHENZHEN, GUANGDONG PROVINCE, 518040 PR CHINA
TEL: 86
(0) 755-83696664-821
FAX: 86 (0) 755-83756862
Narrative report:
This refers to a
type of report whose format is different from that of a standard report. Such
type of report is provided when:
l
Information obtained is insufficient for compiling
a standard report.
l
The enquired co has been out of business or its
business address has been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
The telephone number client given is “86 755 883696664-821”,
while it’s correct should be the heading one.
We dialed the number and one lady named Michelle answered the phone.
From Michelle we knew the following information on SC:
SC is registered in Hong Kong with the Chinese name
SC is mainly engaged in retailing of mobile
phones & accessories.
SC is known to
have approx. 10 employees at present.
E-mail: michelle_qiqilove@hotmail.com
The address client given is:
Room 307-308, Tower B, Phase-1, High-Tech Plaza,
Tian’an Cyber Park, Futian District, Shenzhen, Guangdong Province
According to Michelle, SC is operating at this address.
According
to the Chinese name released by Michelle, careful
investigations were made with Guangdong Provincial and Shenzhen Municipal
Administration for Industry and Commerce (AIC
- The official body of issuing and renewing business license), but no record was found.
In HK Company
Registry, we found the following registration information on SC:
HK Gold Star Technology Company Limited
-----------------------------------------------
Registration
no.: 1602536
Registered
legal form: private
Incorporation
date: 2011-5-18
According to Michelle, SC has the following related company which is
jointly occupying the heading premise with SC, and this company has the same
management team with SC.
Shenzhen
Gold Star Technology Company Limited
======================
It is also known
as Shenzhen Tianzhaoxin Co., Ltd.
Registration No.: 440301105060946
Incorporation Date: 2010-11-22
Chairman: Zhou Zijiao
Registered Capital: CNY 15,000,000
Main
shareholder: Zhou Zijiao 100%
Michelle also
released this company has about 300 employees, and it has its own factory which
located in Longgang District, Shenzhen, Guangdong Province.
According to Michelle, SC is mainly engaged
in retailing of mobile phones & accessories.
SC’s products mainly include: Slider phone, Flip phone, bar phone, etc.
HSBC Bank
Address
of the banker: No. 1, Queens Road Central, Hong Kong
Swift:
HSBCHKHHHKH
Bank
account number: 561-753237-838
Relationship: Normal.
SC was established on May 18, 2011 in Hong Kong. Credit dealings with SC
should be confined into C.O.D. at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.63.65 |
|
UK Pound |
1 |
Rs.101.16 |
|
Euro |
1 |
Rs.85.55 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)