|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
TECHROUTES NETWORK (HK)
PVT. LTD. |
|
|
|
|
Registered Office : |
c/o HongKong Qide Professional Accounting & Secretaries Ltd. Unit 01, 10/F., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
11.08.2008 |
|
|
|
|
Com. Reg. No.: |
39662568 |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
Subject is an ISO9001-2000 certified organization, with proven products and solutions in the networking arena. It delivers a host of reliable, feature rich and state of the art products and solutions in Routing, Switching, Voice Over IP, VPN and Broadband technology |
|
|
|
|
No. of Employees : |
no employees in (It is to
be noted that the company does not have its own operating office in |
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 : |
No Operating Office in hong
Kong |
|
|
|
|
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) |
|
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 |
TECHROUTES NETWORK (HK) PVT. LTD.
Registered Office:-
c/o HongKong Qide Professional Accounting & Secretaries Ltd.
Unit 01, 10/F., Carnival Commercial Building, 18 Java Road, North Point, Hong Kong.
(Formerly located at:
Deep Top Consultancy (HK) Ltd.
Flat A, 15/F., Hillier Commercial Building,
65-67 Bonham Strand East, Sheung Wan,
Hong Kong.)
Holding Company:-
Techroutes Network Pvt. Ltd., India.
39662568
1263655
11th August, 2008.
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 11-08-2012)
|
Name |
|
No.
of shares |
|
Techroutes Network Pvt Ltd. WW-1(SF) Malibu Towne, Sohna Road, Gurgan, India-122001. |
|
10,000 ===== |
(As per registry
dated 11-08-2012)
|
Name (Nationality) |
Address |
|
Mony HARIHARA
SUBRA |
6044, Sector C, Pocket 6,
Vasant Kunj, New Deli 70, India. |
|
T. ANILRAJ. |
WW-1(SF) Malibu Towne, Sohna
Road, Gurgaon, India. |
(As per registry
dated 11-08-2012)
|
Name |
Address |
Co.
No. |
|
HongKong Qide Professional Accounting & Secretaries Ltd. |
Unit 01, 10/F., Carnival Commercial Building, 18 Java Road,
North Point, Hong Kong. |
1063289 |
The subject was incorporated on 11th August, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
The registered address of the subject was located at Flat A, 15/F., Hiller Commercial Building, 65-67 Bonham Strand, Sheung Wan, Hong Kong, moved to the present address in September 2009. The subject changed its registered address as it has changed its commercial service provider since then.
Apart from these, neither material change nor amendment has been ever traced and noted.
Techroutes Network (HK) Pvt. Ltd. was set up in August 2008. It is a wholly-owned subsidiary of Techroutes Network Pvt Ltd. [Techroutes Network] which is an India-based firm.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Unit 01, 10/F., Carnival Commercial Building, 18 Java Road, North Point, Hong Kong known as HongKong Qide Professional Accounting & Secretaries Ltd. which is handling its correspondences and documents. This company is also the corporate secretary of the subject.
Formerly the subject’s registered address was in the office of Deep Top Consultancy (HK) Ltd. Your given phone and fax number which are 852‑3065 8116 and 852-3065 8115 respectively, belong to Deep Top Consultancy (HK) Ltd.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the directors of the subject are Mony Harihara Subra and T. Anilraj. Both of whom are Indian. They are India passport holders and do not have the right to reside in Hong Kong permanently.
Techroutes Network is an ISO9001-2000 certified organization, with proven products and solutions in the networking arena. Today Techroutes delivers a host of reliable, feature rich and state of the art products and solutions in Routing, Switching, Voice Over IP, VPN and Broadband technology.
Techroutes Network markets and supports its complete range of products and solutions through a network of distributors, System Integrators and value added resellers.
Techroutes Network helps partners in designing and offering the right solutions, and also helps them through with the installation and post installation technical backup and warranty support.
Techroutes Network’s products are divided in to following categories:-
· Routers;
Switches;
Video and Voice Over IP;
Access Products;
EPON;
Video Surveillance; &
Network Security.
Techroutes Network deploys next-generation technologies that maintain compatibility to legacy networks, enabling its customers to seamlessly migrate their infrastructure to next-generation network technologies.
Some of its key end-to-end solutions are listed below:-
· e-governance solution;
Large and middle scale enterprise;
VoIP network plan;
IP supermarket solution VoIP solution for Financial
Institutions;
Solutions for Postal and Courier Companies; &
Application for Financial services.
T. Anilraj is the Department Head of Technical Products of Techroutes Network while Mony Harihara Subra is the chief representative of the company.
It is likely that Techroutes Network deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over five years and a month.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.