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Report Date : |
25.06.2014 |
IDENTIFICATION DETAILS
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Name : |
BSB POWER CO.
LTD. |
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Registered Office : |
c/o Capital International Business Centre Room 2113-2115, Level 21, Landmark North, 39 Lung Sum
Avenue, Sheung Shui, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.09.2006 |
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Com. Reg. No.: |
37187986 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· providers of Battery Solutions and Energy Storage system. ·
Subject
offers clients with the following solutions and products:- Application-oriented Solutions: High Temperature Applications, Deep Cycle Applications, Fast Charge Applications; Battery Energy Solution: Battery Energy Storage System; & Battery Products: XT Series, FAG Series, FA Series, OPzV Series, OpzS Series, LSG Series, LSE Series, SOLAR Series, TG Series, TGF Series, HR Series, DC Series, DB Series, GB Series, Torrent Battery |
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No of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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
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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.
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Source
: CIA |
BSB POWER
CO. LTD.
c/o Capital International Business Centre
Room 2113-2115, Level 21, Landmark North, 39 Lung Sum Avenue, Sheung Shui, New Territories, Hong Kong.
PHONE: 852-2670 9808
FAX: 852-2670 1881
E-MAIL: bsb@bsbpower.com
Managing Director: Mr. Tu Xiaosong
Incorporated on: 23rd September, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$2,000,000.00
Issued: HK$2,000,000.00
Business Category: Battery Trader.
Employee: 1.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
c/o Capital International Business Centre
Room 2113-2115, Level 21, Landmark North, 39 Lung Sum Avenue, Sheung Shui, New Territories, Hong Kong.
China Office:-
Room 2702, Level 27, Building B, Tiley Center, Haide Road, Nanshan District, Shenzhen SEZ, China.
[Tel: 86-755-8204 9972, Fax: 86-755-8362 1580]
Holding Company:-
Shenzhen BSB Energy Storage System Co. Ltd., China.
Associated
Companies:-
BSB Power (Thailand) Co. Ltd., Thailand.
BSB Power Co. Pakistan Pvt. Ltd., Pakistan.
BSB Power Europe SARL, France.
PT. BSB Indonesia, Indonesia.
R&D Centre, Wuhan.
Torrent Battery Factory, Hubei.
VRLA Battery Factory, Hubei.
37187986
1076126
Managing Director: Mr. Tu Xiaosong
Contact Person: Ms. Jenny Chen Wenjing
Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
(As per registry
dated 23-09-2013)
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Name |
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No.
of shares |
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Shenzhen BSB Energy Storage
System Co. Ltd. Room 2702. Level 27, Block B, Tiley Center, Haide Road, Nanshan
District, Shenzhen, China. |
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2,000,000 ======= |
(As per registry
dated 23-09-2013)
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Name (Nationality) |
Address |
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TU Xiaosong |
Room 3103, Block C, Lujinglanwan
Pennisular Garden, Furong Road, Futian District, Shenzhen, China. |
TU Xiaosong (As
per registry dated 23-9-2013)
The subject was incorporated on 23rd September, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Battery Trader.
Lines: All kinds of batteries
Brand Name: BSB.
Employee: 1.
Commodities Imported: China, etc.
Markets: Southeast Asia, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
Mortgage or Charge: (See attachment)
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.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
BSB Power Co. Ltd. was incorporated on 23rd September, 2006 as a private limited liability company.
The subject’s registered office is in a business centre located at “Room 2113‑2115, Level 21, Landmark North, 39 Lung Sum Avenue, Sheung Shui, New Territories, Hong Kong” known as “Capital International Business Centre”. The subject has rented a small booth in the centre while its phone and fax number is 852-2670 9808 and 852-2670 1881 respectively.
The subject has 1 employee in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued 2 million ordinary shares of HK$1.00 each which are wholly-owned by Shenzhen BSB Energy Storage System Co. Ltd. [Shenzhen BSB] which is a China-based company.
The director of the subject Mr. Tu Xiaosong is a China merchant. He is a China passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
Tu Xiaosong is also President and Chairman of Shenzhen BSB.
The subject and Shenzhen BSB are engaged in the same lines of business. Both belong to BSB group of companies [BSB].
BSB is one of the leading providers of battery solutions and Energy Storage system. The company started the developing of advanced Telecommunication and energy storage systems in 1996, and entered rapid growth period in 2011 after the re-organization with VC investments. BSB is headquartered in Shenzhen Special Economic Zone, China, with three direct subsidiaries such as R&D center located in Wuhan, VRLA factory in Hubei and Torrent batteries manufacturing plant located in Hebei. BSB has set up sales branch in the countries such as France, Pakistan, Thailand and Indonesia.
BSB has been cooperating with well-known power system companies and telecom operators. Now, BSB has won the trust of many customers worldwide and has grown to be one of the leaders in communications batteries, renewable energy and Energy Saving System providers.
To cope with the new demands and challenges of global telecom industry, renewable energy and other fields, BSB has launched XT range batteries for the extreme high temperature applications; TFC, the telecommunication fast charge batteries, Hybrid GEL as well as high-efficient and economic T-BESS MW scale battery energy storage systems and other new products.
BSB’s production management system and production performance have reached the relevant international standards (e.g.: ISO9001, ISO14001, OHSAS18001, UL, CE, IEC).
BSB offers clients
with the following solutions and products:
· Application-oriented Solutions:
High Temperature Applications, Deep Cycle Applications, Fast Charge Applications;
· Battery Energy Solution:
Battery Energy Storage System; &
· Battery Products:
XT Series, FAG Series, FA Series, OPzV Series, OpzS Series, LSG Series, LSE Series, SOLAR Series, TG Series, TGF Series, HR Series, DC Series, DB Series, GB Series, Torrent Battery
BSB wants to become a world-class batteries and energy reserves solutions provider through continuous improving on technology and services.
The subject’s history in Hong Kong is over seven years.
On the whole, consider it good for business engagements on L/C basis or in very small credit amounts.
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Date |
Particulars |
Amount |
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09-06-2011 |
Instrument: Security Over Deposits With The Bank Property: Initially HK$30,000.00 or equivalent and all monies whether now or hereafter standing to the credit of the Company’s deposit with the Bank under deposit number 534-781760 and whatever currency it may subsequently be denominated in, any renewal of such deposit & the interest thereon together with any further moneys in any deposit account with the Bank at any of its offices. Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
All monies |
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09-06-2011 |
Instrument: Assignment of DC Proceeds Property: By way of assignment or agreement to assign in each case as beneficial owner. All monies in any currency representing proceeds payable or to be paid to the Customer under the Documentary Credits, all the Customer’s right, title, benefit and interest in the said Documentary Credits, the benefit of all powers and remedies for enforcing the Documentary Credits and any payment made pursuant to the contract for sale of goods in connection with which the Documentary Credit is issued. Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
All monies and liabilities |
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05-06-2014 |
Instrument: Assignment of Receivables Property: In consideration of the Banking Facilities, the Customer, as beneficial owner and by way of security for the payment of the Secured Monies, hereby assigns, and agrees to assign, to the Bank the Receivables until all the Secured Monies have been paid or discharged. Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
Any monies |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.11 |
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1 |
Rs.102.32 |
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Euro |
1 |
Rs.81.75 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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 |
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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.