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Report Date : |
22.03.2014 |
IDENTIFICATION DETAILS
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Name : |
VIDOTEL TECHNOLOGY LTD. |
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Registered Office : |
Office 1806, 18/F., Hang Bong Commercial Centre, 28 Shanghai Street, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.05.2004 |
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Com. Reg. No.: |
34601909 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Trader of Electronic component |
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No. of Employees : |
5 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
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 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 |
VIDOTEL TECHNOLOGY
LTD.
ADDRESS: Office 1806, 18/F., Hang
Bong Commercial Centre, 28 Shanghai Street, Kowloon, Hong Kong.
PHONE: 852-2730 2533
FAX: 852-2730 7433
E-MAIL: mathew@univatech.com
Managing Director: Mr. Mahavir
Shri Ranmal Jain
Incorporated on: 27th May, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$1,500,000.00
Business Category: Electronic
component trader.
Employees: 5.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
VIDOTEL TECHNOLOGY
LTD.
Registered Head
Office:-
Office 1806, 18/F., Hang Bong Commercial Centre, 28 Shanghai Street,
Kowloon, Hong Kong.
Holding Company:-
Univa Technologies Pte., Ltd., Singapore.
Associated
Companies:-
Unified Electro- Tech Ltd., India.
Unified Electronics (India) Ltd., India.
Univa Microelectronics Pvt Ltd., India.
Univa Technology (India) Pvt. Ltd., India.
34601909
0903063
Managing Director: Mr. Mahavir
Shri Ranmal Jain
Nominal Share Capital: HK$5,000,000.00
(Divided into 1,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,500,000.00
(As per registry dated 27-05-2013)
|
Name |
|
No. of shares |
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Univa Technologies Pte., Ltd. 10 UBI Crecent, #03-12 UBI Techpark, Lobby B, Singapore - 4085464. |
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1,500,000 ======= |
(As per registry dated 27-05-2013)
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Name (Nationality) |
Address |
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Mahavir Shri Ranmal JAIN |
No. 12/155, Park Castle Residency, Subramanya Bharati Street,
Gavipuram Extension, Basawangudi, Bangalore‑560 004, India. |
|
Bharatkumar Ranmai JAIN |
No. 12/155, Park Castle Residency, Subramanya Bharati Street,
Gavipuram Extension, Basawangudi, Bangalore‑560 004, India. |
(As per registry dated 27-05-2013)
|
Name |
Address |
Co. No. |
|
Multi-Chain Ltd. |
Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong
Kong. |
0209214 |
The subject was incorporated on 27th May, 2004 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Suite 1106, 11/F., Phase 1, Austin
Tower, 22-26A Austin Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to the
present address in September 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Electronic
component trader.
Lines: Electronic and
electro-mechanical components, active and passive semiconductor products
Employees: 5.
Commodities Imported: China,
Europe, South Korea
Markets: Asian
countries, Europe, US
Terms/Sales: L/C, T/T
Terms/Buying: L/C, T/T, D/P
Nominal Share Capital: HK$5,000,000.00
(Divided into 1,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,500,000.00
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.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
Having issued 1.5 million ordinary shares of HK$1.00 each, Vidotel
Technology Ltd. is wholly owned by Univa Technologies Pte., Ltd. [Univa] which
is a Singapore-based company. The
directors of the subject Mahavir Shri Ranmal Jain and Bharatkumar Ranmai Jain
are India merchants. They are India
passport holders and do not have the right to reside in Hong Kong permanently.
The subject is an electronic product trader.
Established in 2004, Univa is specialized in the distribution of
Electronic as well as Electro-Mechanical Components.
With headquarters based in Singapore and branches in the United States,
and India, Univa can help its clients reduce their costs by being single source
for their requirements.
Univa is a group of companies having a global employee of 200, catering
to a wide range of business sectors including Industrial, Telecommunications,
Defence, Consumer Electronics, Automobile and Power Sector amongst others.
Univa has Business Alliances in Asia, Europe and also in the United
States as well.
At Univa, it make it easier for its clients by being a single
source. Univa is also engaged in
scheduled lead time, as well as hard to find parts.
The followings are Univa’s partners & Alliances:
Fine Inductors Fastron, Omron, Nippon Chemi-Con, WWsin, Ferroxcube,
Silicon Image, Chmite, Net power, Rubycpn Corporation, Samwha, Displaytech
Ltd., USA. Stmicroelectronics, Displaytech, Ltd., the United States of America,
Fujitsu, Toshiba, Power-One, UPG, XP Power, Edison, Itswell, Copper
Interconnect, One Chuan Citizen Schroff NIDEC, Copal Electrobucsm, ASB
The subject has had the following major customers:
AMD, AVX, BSI, Cypress, Semiconductor, International IOR Rectifier,
Texas Instruments, Microsemi, intel, Lattice, Microchip, NJR, National
semiconductor, Analog Devices, Philips, ISSI, IXYS, Spansion, ON, RFTechniques,
KEC, molex, Silicon Labs, Everlight, Littlefuse, One Stop Systems, MINMAX,
Delta, UPG, GRE America Inc., GE Electronics, Simens, Celestica, Jabil,
Flextronics, Barcom ABB, HCL, L&T, etc.
The subject is the authorized agents of Kingbright, Diotec, Harbour
Industries, Apem, Minmax, Liteon, etc.
Univa is being managed by a dedicated team of Techno-commercial
professionals with working experience in domestic enterprises as well as
International companies. The entire
Univa team comprises of dynamic and dedicated professionals who are focusing to
grow the company as a global player in the field. The team also consists of sales engineers to
provide personal services to its customers and to meet the increasing demand in
the domestic as well as international markets.
The business of the subject is active.
History in Hong Kong is over nine 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 |
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US Dollar |
1 |
Rs.61.05 |
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|
1 |
Rs.100.81 |
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Euro |
1 |
Rs.84.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
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 |
|
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.