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Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
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Name : |
COODEA GROUP (HK) CO. LTD. |
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Registered Office : |
c/o Elwin Consultancy Co. Ltd. Unit 1605-6, 16/F., |
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Country : |
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Date of Incorporation : |
26.01.2007 |
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Reg. No.: |
37607398 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is a mobile phone trader |
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No. of Employees : |
No employees in [It is to be noted that
the company does not have its own operating office in |
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 – September 30, 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 |
COODEA GROUP (HK)
CO. LTD.
ADDRESS
Registered
Office:-
c/o Elwin Consultancy Co. Ltd.
Unit 1605-6, 16/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui, Kowloon,
Hong Kong.
Shenzhen Office:-
Coosea International Co. Ltd.
Shentang Mansion at the intersection between Tairan Nine Road and Bin
River Avenue, Chegongmiao, Futian District, Shenzhen Special Economic Zone,
China.
[Tel: 086-0755-3397 1000
Fax: 086-0755-3397 0928]
Associated
Companies:-
Dongguan Coosea Electronics Industry Co. Ltd., China.
Hongkong Coosea International Co. Ltd., Hong Kong.
Shanghai TyD Technology Co. Ltd., China.
Shenzhen Coosea Electronics Co. Ltd., China.
Shenzhen Coosea Technology Co. Ltd., China.
Shenzhen Kangyong Electronics Co. Ltd., China.
Shenzhen Koobee Communication Equipment Co. Ltd., China.
Shenzhen Mingtai Telecommunication Co. Ltd., China.
37607398
1105198
26th January, 2007.
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$10,000,000.00
(As per registry dated 26-01-2013)
|
Name |
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No. of shares |
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CHEN Kai Feng |
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9,000,000 |
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WANG Le Hui |
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1,000,000 |
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––––––––– |
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Total: |
10,000,000 ======== |
(As per registry dated 26-01-2013)
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Name (Nationality) |
Address |
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WANG Le Hui |
No. 7, Group 10, Da Lei Village, Heng Jie Zhen, Yin Zhou District,
Ning Bo, China. |
|
CHEN Kai Feng |
Unit 1, No. 251 Bai Zhang Dong Road, Jiang Dong City, Ning Bo, China. |
(As per registry dated 26-01-2013)
|
Name |
Address |
Co. No. |
|
Elwin Consultancy Co., Ltd. |
Unit 1605-6, 16/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong. |
0167181 |
The subject was incorporated on 26th January, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Hong Kong HIS
Co. Ltd., name changed to the present style on 22nd July, 2011.
The subject’s registered office moved to the present address in
September 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Having issued 10 million ordinary shares of HK$1.00 each, Coosea Group
(HK) Co. Ltd. is jointly owned by Mr. Chen Kai Feng, holding 90% interests, and
Mr. Wang Le Hui, holding 10%. Both are
China merchants. They are China passport
holders and do not have the right to reside in Hong Kong permanently. They are also directors of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Unit 1605-6, 16/F., Multifield Plaza, 3‑7A Prat
Avenue, Tsimshatsui, Kowloon, Hong Kong” known as “Elwin Consultancy Co. Ltd.”
which is handling its correspondences and documents. This company is also the corporate secretary
of the subject.
The subject has no employees in Hong Kong. It is a mobile phone trader. It has registered with the Communications
Authority (CA), The Government of Hong Kong SAR, the People’s Republic of China
as a Radio Dealer (Unrestricted) Licensee.
The subject bears the licence No. of RU00153875 - RU.
The subject is the holding company of COOSEA Group of companies. The main products of the Group is smartphones
and tablet PCs. Most of the products
bear the brand name of “coosee”, “Koobee” or “Minte”.
One of the significant member of the Group is COOSEA International Co.
Ltd. [COOSEA International] which is a China-based company. Your given phone number 86-755-3397 1000 is a
China line belongs to COOSEA International.
COOSEA International, subordinate to COOSEA Group, is an enterprise
providing customized services that combines IDH, integration and production,
and provides customers with complete mobile and tablet design schemes, product
manufacturing services and wireless terminal series-based value added
services. At present, its product scope
covers a whole series of handheld devices ranging from GSM, WCDMA, EDGE,
TD-SCDMA, and EVDO of 2G to those of 3G.
Two of its subordinate brands “Koobee” and “Minte” occupy
a large share in domestic market; respectively signed contract with Asia Music
Queen Jolin Tsai and World Supermodel Jessica.
Moreover, it has penetrated overseas markets such as Russia and
Southeast Asia.
COOSEA International owns an R&D team of over 500 persons while 95%
of whom are R&D engineers qualified for the R&D of 3G, 2G and Android
smart phones. COOSEA International also
has got the ISO 9001: 2000, ISO14001, OHSAS 18001and QC080000 certification.
It also has partners such as QUALCOMM, MTK, VIA, WOLFSON, YAMAHA, etc.
According to the Group, it has set up new headquarters in Dongguan City,
Guangdong Province, China. All the
manufacturing facilities located in Shanghai and Shenzhen Special Economic Zone
have been moved to the new headquarters.
The total investment was over RMB500 million Yuan. The production of the first phase will begin
by the end of 2014. The annual total
output will be about RMB3 billion Yuan and its annual tax payable to the
Government will be RMB100 million Yuan.
The Chairman of the COOSEA Group is also Chen Kai Feng.
The subject’s business in Hong Kong is not active. History in Hong Kong is over seven 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.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.28 |
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1 |
Rs.103.67 |
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Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.