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Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
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Name : |
K-PHONE
TECHNOLOGY LTD. |
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Registered Office : |
Unit 9, 14/F., Block C, Wah Lok Industrial Centre, 31-35 Shan Mei Street, Fotan, Shatin, New Territories, Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.06.2007 |
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Com. Reg. No.: |
38029361 |
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Legal Form : |
private limited liability company |
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Line of Business : |
Importer and Exporter of all kind of mobile phones and
related products |
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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 – 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 |
K-PHONE
TECHNOLOGY LTD.
ADDRESS:
Unit 9, 14/F.,
Block C, Wah Lok Industrial Centre, 31-35 Shan Mei Street, Fotan, Shatin,
New Territories, Hong Kong.
Note:
is (Foreign Address)
P.O. Box 957, Offshore Incorporations Centre,
Road Town, Tortola, British Virgin Islands.
PHONE: 852-2145 4358, 2947 7020,
2947 7080
FAX: 852-2145 4258
Managing Director:
Mr. Yang Bai Huan
Incorporated on: 6th June, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Telecommunication Equipment Trader.
Employees: 5. (Including affiliated companies)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
K-PHONE
TECHNOLOGY LTD.
ADDRESS:
Registered
Head Office:-
Unit 9, 14/F.,
Block C, Wah Lok Industrial Centre, 31-35 Shan Mei Street, Fotan, Shatin,
New Territories, Hong Kong.
China
Office:-
Shenzhen K-Phone
Technology Ltd.
22S, First World
Plaza, 7002 Hongli West Road, Futian District, Shenzhen Special Economic Zone,
China.
Joint
Venture:-
Shenzhen Leaguer
Telecom Co. Ltd., China.
Affiliated
Companies:-
Borough
Technologies Ltd., Hong Kong.
Hong Kong Leaguer
Technology Co. Ltd., Hong Kong. (Same
address)
Leaguer Telecom
(Hongkong) Ltd., Hong Kong.
Shenzhen Sunova
Electronics Co. Ltd., China.
Sunova Electronics
Co. Ltd., Hong Kong. (Same address)
38029361
1138930
Managing Director:
Mr. Yang Bai Huan
Nominal Share Capital:
HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,000,000.00
(As
per registry dated 06-06-2013)
|
Name |
Occupation |
No.
of shares |
|
YANG
Bai Huan |
Merchant |
590,000 |
|
YANG
Hai Qing |
Merchant |
200,000 |
|
WANG Zhi Yong |
Merchant |
210,000 |
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–––––––– |
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Total |
1,000,000 ======= |
(As
per registry dated 06-06-2013)
|
Name (Nationality) |
Address |
|
YANG Bai Huan |
Unit 9, 14/F., Block C, Wah Lok Industrial
Centre, 31-35 Shan Mei Street, Fotan, Shatin, New Territories, Hong
Kong. |
|
YANG Hai Qing |
Unit 9, 14/F., Block C, Wah Lok Industrial
Centre, 31-35 Shan Mei Street, Fotan, Shatin, New Territories, Hong
Kong. |
|
WANG Zhi Yong |
Unit 9, 14/F., Block C, Wah Lok Industrial
Centre, 31-35 Shan Mei Street, Fotan, Shatin, New Territories, Hong
Kong. |
(As
per registry dated 06-06-2013)
|
Name |
Address |
Co.
No. |
|
Smart
Accounting Management Ltd. |
Room 19, 8/F., Corporation Park, 11 On Lai Street, Siu Lek Yuen,
Shatin, New Territories, Hong Kong. |
0621526 |
The
subject was incorporated on 6th June, 2007 as a private limited liability
company under the Hong Kong Companies Ordinance.
Initially
the subject was located at Unit 9, 7/F., Block C, Wah Lok Industrial Centre,
31-35 Shan Mei Street, Fotan, Shatin, New Territories, Hong Kong,
moved to Unit 9, 14/F., Block C of the same building in June 2008.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Exporter.
Lines: All kind of mobile phones and related products.
Employees: 5. (Including affiliated companies)
Materials/Commodities: Imports raw materials from European countries, some Asian countries and finished products from China.
Markets: China, Japan, Southeast Asia, Europe.
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, T/T.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Profit or Loss: Making a small profit in past three years.
Condition: Business is normal.
Facilities: Making fairly 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 million ordinary shares of HK$1.00 each, K-Phone Technology Ltd. is
jointly owned by Mr. Yang Bai Huan, holding 59% interests; Mr. Yang Hai Qing,
holding 20%; and Mr. Wang Zhi Yong, 21%.
All are China merchants and directors of the subject.
Your
given address is in the British Virgin Islands.
However, we are not sure whether the subject has been registered in the
British Virgin Islands or not.
The
subject is trading in mobile phones, it also trades in PDAPhones, Smartphones,
etc.
The
subject has registered with the Office of the Communications Authority (OFCA), 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 RU00133796-RU.
The
subject’s China office is in Shenzhen Special Economic Zone, China known as Shenzhen
K-Phone Technology Ltd. [Shenzhen K-Phone].
The
subject is trading in the products of AcSip Technology Corporation [AcSip]
which is a Taiwan-based firm.
AcSip
is a RF SiP module provider. It focuses
on high density, micro‑miniaturization system in package. Products are specially apply to communication
devices. The chipset of mobile like
Wi-Fi, Bluetooth, FM, GPS, DTV(CMMB), or MEMS that all can use SiP technology
to develop light, thin, short, small, multi-module, multi-function package in
order to humour marketing demand. System
in package, SiP technology not only be the optimal solution at mobile and
portable devices, but also has develop potential technology and application in
the future.
Currently,
Shenzhen K-Phone has set up a joint venture known as Shenzhen Leaguer Telecom
Co. Ltd. [Leaguer] with Qinghua Lihe Hi-Tech Co. Ltd. and Zhuhai Qinghua
Technology Park Chuangye Investment Co. Ltd.
The partners are also China-based firm.
Incorporated in May 2008, Leaguer is engaged in manufacturing hand set
TVs, mobile phones, other telecommunication terminals, etc. With a registered capital of
RMB20 million Yuan, Leaguer now has over 100 engineers and professionals
engaged in products designing, manufacturing and marketing, as well as software
development. Leaguer has set up offices
in Beijing and Shanghai. Products are
marketed and exported to Europe, North and South America, Southeast Asia, etc.
by the subject and the other shareholders.
The
industrial output of Shenzhen K-Phone amounted to RMB180 to 200 million
Yuan. Nokia is one of its customers.
The
subject is fully supported by Shenzhen K-Phone.
History in Hong Kong is about seven years.
On
the whole, in view of the subject’s parentage and background, consider it good
for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
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|
1 |
Rs.98.40 |
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Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
PDT |
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.