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Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
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Name : |
LIGHTCOMM TECHNOLOGY CO.
LTD |
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Registered Office : |
Room 1708-1710, 17/F., Prosperity Centre, 25 Chong Yip Street, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.01.2002 |
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Com. Reg. No.: |
32362874 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer and Exporter of Electronic and electric products, fibre
optical components |
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No. of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
LIGHTCOMM TECHNOLOGY CO. LTD.
Room 1708-1710, 17/F., Prosperity Centre, 25 Chong Yip Street, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2191 3611
Managing Director: Mr. Huang Yaxian
Incorporated on: 23rd January, 2002.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Manufacturer, Importer and Exporter.
Employees: 4.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 1708-1710, 17/F., Prosperity Centre, 25 Chong Yip Street, Kwun Tong, Kowloon, Hong Kong.
Headquarters:-
Shenzhen LightComm Technology Co. Ltd.
3/F., Building 2, No.
1268 Liuxian Road, Honghualing Industrial Area, Xili, Nanshan District, 518055
Shenzhen, China.
[ Tel: 86-755-8615
7878, 8615 7635, 8615 9471
Fax: 86-755-8615 9471, 8343 4363
E-mail: sales@lightcomm.com ]
Associated/Affiliated
Companies:-
Huizhou Hangdu Electronics Co. Ltd., China.
Huizhou Hangdu Plastic Products Co. Ltd., China.
Shenzhen HCN Electronics Co. Ltd., China.
Shenzhen Hengchen Electrical Co. Ltd., China.
Shenzhen Hengcheng Technology Co. Ltd., China.
32362874
0783615
Managing Director: Mr. Huang Yaxian
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
(As per registry
dated 23-01-2013)
|
Name |
|
No.
of shares |
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HUANG
Yaxian |
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80 |
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ZHANG Jianyong |
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20 |
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|
––– |
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Total: |
100 === |
(As per registry
dated 23-01-2013)
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Name (Nationality) |
Address |
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HUANG Yaxian |
2-13H, Baolian Building,
Futian, Shenzhen, China. |
|
ZHANG Jianyong |
Room 704, Building 17, Xia Bu
Miao North, Futian District, Shenzhen, China. |
(As per registry
dated 23-01-2013)
|
Name |
Address |
Co.
No. |
|
Nicecode Services Ltd. |
Room M207-208, Haleson Building, 1 Jubilee Street,
Central, Hong Kong. |
0224507 |
The subject was incorporated on 23rd January, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject was formerly located at c/o Nicecode Services Ltd., Room M207‑208, Haleson Building, 1 Jubilee Street, Central, Hong Kong, moved to the present address in January 2012.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Manufacturer, Importer and Exporter.
Lines: Electronic and electric products, fibre optical components.
Brand Names: “Lightcomm”, “HCN” and “GUTIAN”.
Employees: 4.
Materials/Commodities: Imports raw materials from European countries, some Asian countries and finished
products from China.
Markets: USA, Japan, South Korea, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Mortgage or Charge
(since 2007): (See attachment)
Profit or Loss: Made a very small profit in the past years.
Condition: Business is normal.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Hang Seng Bank Ltd., Hong Kong.
Standing: Small.
Having issued 100 ordinary shares of HK$1.00 each, LightComm Technology Co. Ltd. is jointly owned by Mr. Huang Yaxian, holding 80% interests; and Mr. Zhang Jianyong, holding 20%. Both of Huang and Zhang are China merchants each holding a China passport. They are also directors of the subject and currently residing in Shenzhen Special Economic Zone, China.
The subject moved to the present address in January 2012.
The subject’s old registered office was in a commercial service firm located at Room M207-208, Haleson Building, 1 Jubilee Street, Central, Hong Kong known as Nicecode Services Ltd. which is handling its correspondences and documents. Nicecode Services Ltd. is also the corporate secretary of the subject. This firm in fact is an affiliate of W.T. Wong & Co. which is an accountant firm also located at the above‑mentioned address.
To our knowledge, the main office of the subject is in Shenzhen Special Economic Zone, China. The affiliated company is Shenzhen LightComm Technology Co. Ltd. [Shenzhen LightComm].
According to the subject, it is a leading manufacturer and exporter for portable DVD players, portable GPS devices, car DVD players, digital photo frames. It exports to Japan, North America and Western Europe. Its products have got ISO 9001 and ROHS certification. It has a 20,000 sq.m. manufacturing site, with over 70 engineers in R&D, and a dynamic marketing team in Shenzhen LightComm.
Shenzhen LightComm was founded in 2000 by a team of optical component engineers having more than 20 years experience. It is a leading innovative company of fibre optical components. Shenzhen LightComm provides cost effective solutions based on Fused Fibre Couplers, PLC, CWDM/DWDM Filters, EDFA, Pump Combiners, Isolators, PM Fibre Components, Connectors and Integrated Modules technologies.
High level research, development and design work enable LightComm’s products extremely flexible in meeting the requirements of its customers. Shenzhen LightComm’s products are marketed throughout the world. Its engineers are able to help its clients design the components which meet their requirements. Shenzhen Lightcomm is specialised in fibre optics components. It is trying to make itself to be the largest manufacturer of fused fibre coupler in China, and the leading company of high power components.
Supported by a group of experienced engineers and managers, Shenzhen LightComm has developed a series of mini size fused fibre couplers, special PM fibre components including fused PM fibre couplers and filter-based PM fibre components, and high quality multimode fibre pump combiners, as well as high power YEDFA, high power isolators, etc.
The followings are the main products of Shenzhen LightComm: pump combiner, PLC splitter, high power component, micro optics product, PM component, fibre connector, fused coupler, EDFA, testing equipment, smart optical switch, etc.
Shenzhen LightComm claims it has had millions of fibre components operating reliably day in day out. It promises life time guarantee for its fibre components.
Shenzhen LightComm has got ISO 9001 certification, and all of its LightComm coupler products are Telcordia 1209 /1221 and RoHS certified.
Forbes issued the 2010 Fubes Chinese Potential Enterprise List, LightComm was ranked 129th in the List.
The head office of Shenzhen LightComm is located in Tian’an Cyber Park, Futian District, Shenzhen Special Economic Zone having over 300 staff. Its factory is located in Huizhou Digital Techno Park, Huizhou City, Guangdong Province, China with its own tooling house. It also owns a 80,000 m2 air‑conditioned dust-free workshops, plastic injection factory, SMT workshops and assembling lines. So far, the Huizhou factory has over 3,600 workers including 400 QC staff working with 42 SMT machines and 12 production lines.
Shenzhen LightComm has got several affiliated companies in Shenzhen Special Economic Zone and Huizhou City, China. The main one is Shenzhen Hengchen Electrical Co. Ltd. [Hengchen], China.
Hengchen is engaged in manufacturing digital photo frames, portable DVD players, set-top boxes, etc. Founded in August 1999, Hengchen is one of the significant audio and video product manufacturer in Shenzhen Special Economic Zone. It also has set up a production base in Huizhou City, Guangdong Province, China. Most of its products bear the brand name of “HCN”.
Hengchen has got the following partners: SANYO, SAMSUNG, PHILIPS, DAEWOO, AUDIOVOX, VESTEL, etc.
Hengchen’s products have been exported to Europe, North America, Africa, Asia countries, etc. including 70 countries and regions.
Shenzhen LightComm also markets Hengchen’s products.
On 21st December, 2009, the subject registered its trade mark Lightcomm with Intellectual Property Department, the Government of Hong Kong SAR. The expiry date is 20th December, 2019.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.
The contact person of the subject Ms. Christine Lee is a Hongkongnese.
On the whole, consider the subject good for normal business engagements.
(Since 2007)
|
Date |
Particulars |
Amount |
|
03-07-2007 |
Instrument: Charge Over Securities Property: The Company’s securities account no. 360-200000-382 Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure all monies in any currency |
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03-07-2007 |
Instrument: Running Deed of Charge Property: All monies and deposits now or hereafter in the time deposit account No. 360-200000 kept by the Company with Hang Seng Bank Ltd. Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure all monies and liabilities which are now or
at any time hereafter may be outstanding owing or payable by the Company to
Hang Seng Bank Ltd. |
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13-08-2009 |
Instrument: Assignment of DC Proceeds Property: (a) All moneys in any currency, (b) all the Company’s right, title, benefit and interest in the Documentary Credits, (c) the benefit of all powers and remedies for enforcing the Documentary Credits and (d) any payment made pursuant to the contract for sale of goods in connection with which the Documentary Credit is issued Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure (i) all Loans, (ii) moneys and liabilities
in any currency, (iii) interest on the Loans and such moneys, and (iv) all
expenses of the Bank |
|
01-09-2009 |
Instrument: Charge Over Securities (2-Parties) Property: The Chargor’s securities account no. 339-004749 Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure owing all monies in any currency |
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20-06-2011 |
Instrument: Assignment of DC Proceeds Property: Bay way of assignment to assign in each case as beneficial owner. All monies in any currency representing proceeds payable to the Customer under the Documentary Credits Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
All loans or other advances made or to be made by the
Bank to the Customer against documents submitted under a Documentary Credit |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.102.06 |
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Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
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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 |
|
-- |
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.