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Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARCOTEK INTERNATIONAL LTD. |
|
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|
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Registered Office : |
Unit 609, 6/F., Tower 1, Cheung Sha Wan Plaza, 833 Cheung Sha Wan
Road, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.04.1999 |
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Com. Reg. No.: |
30248799 |
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|
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of
electronic components |
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|
|
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No. of Employees |
8 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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 |
ARCOTEK
INTERNATIONAL LTD.
ADDRESS:
Unit 609, 6/F.,
Tower 1, Cheung Sha Wan Plaza, 833 Cheung Sha Wan Road, Kowloon, Hong Kong.
PHONE: 852-2381 7880, 2260 8414
FAX: 852-2381 2550
E-MAIL: akef.alansari@arcotek.com
Managing
Director: Mr. Akef Sharaf Judeh Al
Ansari
Incorporated on: 7th April, 1999.
Organization: Private Limited Company.
Issued Capital: HK$1,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ARCOTEK
INTERNATIONAL LTD.
ADDRESS:
Registered
Head Office:-
Unit 609, 6/F.,
Tower 1, Cheung Sha Wan Plaza, 833 Cheung Sha Wan Road, Kowloon, Hong Kong.
Associated
Companies:-
Arco Inc., US.
Arcotek Elektronik
GmbH, Germany.
Arcotek
International Trade (Shanghai) Co. Ltd., China.
30248799
0671447
Managing
Director: Mr. Akef Sharaf Judeh Al
Ansari
HK$1,000.00
(As
per registry dated 07-04-2014)
|
Name |
|
No.
of shares |
|
Asem
Sharaf Judeh AL ANSARI |
|
999 |
|
RAU Management Ltd., Hong Kong. |
|
1 |
|
|
|
––––– |
|
|
Total: |
1,000 ==== |
(As
per registry dated 07-04-2014)
|
Name (Nationality) |
Address |
|
Asem
Sharaf Judeh AL ANSARI |
Harbourview Horizon, Tower 1, 1806, 12
Hung Lok Road, Hunghom Bay, Kowloon, Hong Kong. |
|
Adil Sharaf EL
ANSARI |
99 Bridle Path Lane, Mahwah NJ02430, US. |
|
Harmeet Singh
KAPOOR |
11 Hutton Drive, Mahwah NJ-07430, New
Jersey, US. |
|
Akef Sharaf Judeh
AL ANSARI |
Harbourview Horizon, Tower 1, 1806, 12
Hung Lok Road, Hunghom Bay, Kowloon, Hong Kong. |
Akef Sharaf Judeh AL ANSARI (As per registry dated
07-04-2014)
Arcotek
International Ltd. was incorporated on 7th April, 1999 as a private limited
liability company under the Hong Kong Companies Ordinance.
It
was originally registered under the name of Evertech International Ltd., name
changed to the present style on 28th July, 1999.
Formerly
the subject’s registered office was at Room 601, 6/F., China Building, 29
Queen’s Road Central, Hong Kong where was solicitor firm known as “Chan, Lau
& Wai Solicitors”. It moved to the
present address in May 2000.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of electronic components.
Employees: 8.
Commodities Imported: Europe, US, Asian countries.
Markets: Worldwide countries.
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, T/T, D/P.
Issued Capital: HK$1,000.00
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: Good.
Arcotek
International Ltd. is 99.9% owned by Mr. Asem Sharaf Judeh Al Ansari who is an
Amman merchant. He is a Hong Kong ID
Card holder and has got the right to reside in Hong Kong permanently. He is also one of the directors of the
subject.
The
subject is an associated company of Arco Inc. [Arco/Group] which is a US-based
company.
Arco
is a franchise distributor of electronic components and a supply chain
management services provider to the electronic industry worldwide.
Arco
is offering services through its network of related companies in Europe, Asia
and America, using an integrated model to provide its customers with the right
product, the right price at the right time.
Arco’s
distribution strategy is to provide customers with a comprehensive range of
component solutions through Franchise and Authorized channels. The Group is specialized in leading edge
solutions through a comprehensive portfolio of DRAM, SRAM, Serial &
Parallel NOR FLASH, EEPROM, SPD and NAND FLASH memory products.
Acro
also offers global supply chain services.
Its scope of business including the design of project to meet customer’s
specific requirements, achieving total cost optimisation through material
management, global sourcing, logistics management, reverse logistics and value
added manufacturing.
The
subject and Arco Group are engaged in the same lines of business, more or less.
Arco
was evaluated to be a top 50 Electronics Distributor in the world. It is headquartered in the United States and
has offices in Germany, Shanghai of China, etc. apart from the subject.
As
the history of the subject is over 15 years in Hong Kong, on the whole,
consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.07 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.