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Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
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Name : |
SAE POWER
DEVICES (HK) LTD.
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Formerly Known as : |
R.F. Filters (HK)
Ltd |
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Registered Office : |
Unit 911, 9/F., Kwai Cheong Centre, 40-52 Kwai Cheong Road, Kwai Chung, New Territories |
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Country : |
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Date of Incorporation : |
08.07.1983 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· engaged in manufacturing Switching Power Supplies, Magnetic Components, EMI/RFI Line Filters and a provider of Electronic Sub‑Assemblies. Engaged in designing
and manufacturing products for computers and Computer Peripherals,
Networking, Telecommunication, Industrial, Medical and Test & Measurement
Products. |
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No of Employees : |
08 (Including
Associates) |
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 – 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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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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
SAE POWER
DEVICES (HK) LTD.
Unit 911, 9/F., Kwai Cheong Centre, 40-52 Kwai Cheong Road, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2411 3623
FAX: 852-2412 7846, 2411 5037
E-MAIL: ktchu@saepower.com.hk
Managing Director: Mr. Chu Kwok Tung, Tommy
Incorporated on: 8th July, 1983.
Organization: Private Limited Company.
Capital: Nominal: HK$50,000.00
Issued: HK$50,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees: 8. (Including associates)
Main Dealing Banker: Bank of America N.A., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 911, 9/F., Kwai Cheong Centre, 40-52 Kwai Cheong Road, Kwai Chung, New Territories, Hong Kong.
Holding Company:-
Colm Campbell International Ltd., Barbados.
Associated
Companies:-
Colm Campbell Co. Inc., US.
Colm Campbell Inc., US.
SAE Power Co., Canada.
SAE Power Devices (DG) Ltd., China.
SAE Power Devices (HK) Ltd., Hong Kong.
SAE Power Inc., US.
0126117
Managing Director: Mr. Chu Kwok Tung, Tommy
Nominal Share Capital: HK$50,000.00 (Divided into 50,000 shares of HK$1.00 each)
Issued Share Capital: HK$50,000.00
(As per registry
dated 08-07-2013)
|
Name |
Occupation |
No.
of shares |
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Colm Campbell International
Ltd. Hastings, Christ Church, Barbados. |
Corporation |
49,999 |
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Columba (Colm) Noel
CAMPBELL |
Merchant |
1 |
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Total: |
–––––– |
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50,000 ===== |
(As per registry
dated 08-07-2013)
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Name (Nationality) |
Address |
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CHU Kwok Tung |
Unit H, 15/F., Block 2, Nerine
Cove, 23 Hang Fu Street, Tuen Mun, New Territories, Hong Kong. |
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Columba (Colm) Noel CAMPBELL |
14725 Sobey Road, Saratoga,
CA95070, US. |
CHU Kwok Tung (As per registry dated 08-07-2013)
The subject was incorporated on 8th July, 1983 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of R.F. Filters (HK) Ltd., name changed to the present style on 3rd April, 1984.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Manufacturer.
Lines: Switch Mode Power Supplies, Magnetic Components, EMI/RFI Power Entry Filters
Employees: 8. (Including associates)
Commodities Imported: Canada, China, etc.
Markets: North America, Southeast Asia, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$50,000.00 (Divided into 50,000 shares of HK$1.00 each)
Issued Share Capital: HK$50,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
· Bank of America N.A., Hong Kong Branch.
The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 50,000 ordinary shares of HK$1.00 each, SAE Power Devices (HK) Ltd. is almost wholly-owned by Colm Campbell International Ltd. [CCIL] which is a Barbados-registered company.
CCIL can be regarded as a company engaged in the same lines of business as the subject.
The subject is a global manufacturer of Switching Power Supplies, Magnetic Components, EMI/RFI Line Filters and a provider of Electronic Sub‑Assemblies. It designs and manufactures products for computers and computer peripherals, networking, telecommunication, industrial, medical and test & measurement products. Its customers include the market leaders in many of these industries.
The subject’s corporate headquarters are located in the heart of Silicon Valley, with manufacturing and sales offices located throughout North America and Asia. The subject employs manufacturing sites located both in Toronto and China. Its Toronto location, occupies 50,000sq.ft. of manufacturing space, and is ISO9001:2000 approved. Its facility located in Asia (ISO9002 and TS16949 approved), is housed in a 100,000 sq.ft building located in Dongguan City, Guangdong Province, China.
The subject’s products are marketed in Asian countries, Europe, Canada, the United States, etc.
The subject’s business is handled by Mr. Chu Kwok Tung Tommy who is a Hong Kong merchant. He is also managing director of the subject.
The history of the subject in Hong Kong is over 31 years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
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UK Pound |
1 |
Rs.102.19 |
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Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
MNL |
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 |
-- |
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.