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Report Date : |
24.04.2014 |
IDENTIFICATION DETAILS
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Name : |
HONCHI TECHNOLOGIES CO. |
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Registered Office : |
c/o Hong Kong Secretarial Co. Shop 71, 2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.09.2008 |
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Com. Reg. No.: |
39732082-000-09 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF PRINTED CIRCUIT BOARDS |
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No. of Employees : |
No employees in Hong Kong 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. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 has no tariffs on imported goods, and it levies excise
duties on only four commodities, whether imported or produced locally: 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, its continued reliance
on foreign trade and investment leaves it vulnerable to renewed global
financial market volatility or a slowdown in the global economy. 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 12% of
total system deposits in Hong Kong by the end of 2013. 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 total
trade 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. Credit expansion and tight
housing supply conditions have caused Hong Kong property prices to rise
rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China
signed new agreements under the Closer Economic Partnership Agreement, adopted
in 2003 to forge closer ties between Hong Kong and the mainland. The new
measures, effective from January 2014, cover services and trade facilitation,
and will improve access to the mainland's service sector for Hong Kong-based
companies.
|
Source
: CIA |
HONCHI
TECHNOLOGIES CO.
ADDRESS: c/o Hong Kong Secretarial
Co.
Shop 71, 2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui,
Kowloon, Hong Kong.
(Formerly located at:
Shop 62A, 2/F., Mirador
Mansion, 54-64 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.)
PHONE: 852-2359 9006
FAX: 852-2359 9179
Manager: Mr. Rajeev Bakshi
Establishment: 1st September, 2008.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer,
Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONCHI TECHNOLOGIES CO.
Registered
Office:-
c/o Hong Kong Secretarial Co.
Shop 71, 2/F., Mirador Mansion, 54-64 Nathan
Road, Tsimshatsui, Kowloon,
Hong Kong.
39732082-000-09
Manager: Mr. Rajeev Bakshi (Mobile: 86-1326 6691 545)
Name: Mr. Rajeev BAKSHI
Residential Address: H No. C
174, Hari Nagar New Delhi -
110064, India.
The subject was established on 1st September, 2008 as a sole
proprietorship concern owned by Mr. Rajeev Bakshi
under the Hong Kong Business Registration Regulations.
Formerly the registered address of the subject was located at Shop 62A,
2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui, Kowloon, Hong Kong,
moved to the present address in November 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of printed circuit boards
Employees: Nil.
Commodities Imported: China,
other Asian countries
Markets: India,
other Asian countries
Terms/Sales: L/C, T/T
Terms/Buying: COD or as per contracted.
Capital: Not
disclosed.
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Making fairly active use of general
banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Honchi Technologies Co. is a sole proprietorship
set up and owned by Mr. Rajeev Bakshi who is an
India merchant. He is an India passport
holder and does not have the right to reside in Hong Kong permanently. He is also manager of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Shop 71, 2/F., Mirador
Mansion, 54‑64 Nathan Road, Tsimshatsui, Kowloon, Hong Kong” which is handling its correspondences
and documents.
The subject has no employees in Hong Kong.
According to your given phone number 86-1326 6691 545 which is a China
mobile phone number, we can reach Mr. Rajeev Bakshi. Currently he is in Shenzhen Special Economic
Zone, China.
According to Bakshi, he is operating the
subject which is trading in PCBs (printed circuit boards). Most of the commodities are sourced from
China, especially form Shenzhen Special Economic Zone, China. Most of the PCBs are exported to India. Business is fairly active.
HTC has been banking with The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
The business of the subject is chiefly handled by Bakshi
himself. Most of the time he is residing
in Shenzhen Special Economic Zone, China.
The subject’s business in Hong Kong is not active. History in Hong Kong is over five years.
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
for the time being.
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.61.07 |
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|
1 |
Rs.102.77 |
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Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NNA |
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.