MIRA INFORM REPORT

 

 

Report Date :

03.09.2013

 

IDENTIFICATION DETAILS

 

Name :

ACMI  LTD.

 

 

Formerly Known As :

Paseconds Electronic (INT’L) Ltd

 

 

Registered Office :

Room 1107, 11/F., Wai Lee Lau, 997 King’s Road, Quarry Bay

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

14.12.2005

 

 

Com. Reg. No.:

36302147

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

·         subject is a comprehensive enterprise specialized in R&D and manufacturing products such as MP3 player, MP4 player, MP5 player, USB mini speaker, card reader and laptop. 

·         supplier of electric gifts such as energy conservation LED table lamp and mini electric gift. 

·         supplier of energy conservation environmental protection products such as LED light pipe, LED down light and LED energy conservation lamp bulb. 

·         supplier of metal hardware such as screws and spirals.

 

 

No. of Employees :

70 (Factory)

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

 

 

 

 

Company name

 

ACMI  LTD.

 

 

Company ADDRESs

 

Registered Office:-

Room 1107, 11/F., Wai Lee Lau, 997 King’s Road, Quarry Bay, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

36302147

 

 

COMPANY FILE NUMBER

 

1013614

 

 

DATE OF INCORPORATION

 

14th December, 2005.

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital:     HK$1.00

 

 

SHAREHOLDER  

(As per registry dated 14-12-2012)

 

Name

Occupation

No. of share

LIN Ai Yu

Merchant

1

=

 

 

DIRECTOR    

(As per registry dated 14-12-2012)

 

Name

(Nationality)

 

Address

LIN Ai Yu

Room 1107, 11/F., Wai Lee Lau, 997 King’s Road, Quarry Bay, Hong Kong.

 

 

SECRETARY

(As per registry dated 14-12-2012)

 

Name

Address

WONG Lai Ping

Room 1107, 11/F., Wai Lee Lau, 997 King’s Road, Quarry Bay, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 14th December, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

 

Originally the subject was registered under the name of Paseconds Electronic (INT’L) Ltd., name changed to the present style on 9th August, 2009.

 

Last time, the registered address of the subject was located at Flat F., 1/F., Tsui Lan Mansion, Westland Crt., Quarry Bay, Hong Kong, moved to the present address in January 2013.

 

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

GENERAL

 

Having issued just only one ordinary share of HK$1.00 each, Acmi Ltd. is wholly owned by Ms. Lin Ai Yu who is a China ID holder.  She is a China ID holder and does not have the right to reside in Hong Kong permanently.  She is also the only director of the subject.,

Most of the time, Ms. Lin Ai Yu is in Shenzhen Special Economic Zone, China administering her factory.

The subject’s registered address is in a private building located at Room 1107, 11/F., Wai Lee Lau, 997 King’s Road, Quarry Bay, Hong Kong.  This is the residence of the subject’s individual secretary Ms. Wong Lai Ping.  The subject’s phone number is 852-2811 8852.  This is also the phone number of the residence of the subject’s individual secretary.

The subject’s contact person in Hong Kong is Ms. Penny Lim who can be reached at her Hong Kong mobile phone number 852-9738 4511.  Your given e-mail acmipenny@gmail.com also belongs to Ms. Penny.

Founded in 2005 in Hong Kong, the subject is a comprehensive enterprise specialized in R&D and manufacturing products such as MP3 player, MP4 player, MP5 player, USB mini speaker, card reader and laptop.  It also supply electric gifts such as energy conservation LED table lamp and mini electric gift.  At the mean time, the subject supplies energy conservation environmental protection products such as LED light pipe, LED down light and LED energy conservation lamp bulb.  It also supplies metal hardware such as screws and spirals.

The subject’s factory was founded in 1992 in Shenzhen SEZ of China.

The factory has had a team of skilful workers, technical engineers and professional sales staff members.  The factory has about 70 workers and its factory size is about 4,000 sq.m.

The subject’s products are exported to North America, South America, Eastern Europe, Southeast Asia, etc.  According to the subject, about 50 to 60% of its products are exported.  Annual sales turnover ranges from US$1.5 to 3.0 million.  Business is normal.

The subject’s business in Hong Kong is not active.  History in Hong Kong is over seven years.

Since the registered office of the subject is in a residential building, on the whole, consider it good for normal business engagements on L/C basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.86

UK Pound

1

Rs.102.52

Euro

1

Rs.87.06

 

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

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.