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Report Date : |
04.11.2014 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG BEC TECHNOLOGY CO. LTD. |
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Registered Office : |
c/o Hong Kong United Accounting & Secretarial Ltd. Unit D, 16/F., Cheuk Nang Plaza, 250 Hennessy Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.01.2014 |
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Com. Reg. No.: |
62620391 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in trading in liquid e-cigarette / electronic
cigarette. |
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No of Employees : |
No employees in Hong Kong NOTE: It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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 |
HONGKONG BEC
TECHNOLOGY CO. LTD.
Registered Office:-
c/o Hong Kong United Accounting & Secretarial Ltd.
Unit D, 16/F., Cheuk Nang Plaza, 250 Hennessy Road, Wanchai, Hong Kong.
[Tel: 852-2575 5599; Fax: 2891
1996]
Associated Companies:-
Dongguan BTR Metal Manu Co. Ltd., China.
Dongguan BEC Technology Co. Ltd.
Shangyou Industrial Zone, Shutian Village, Humen Town, 523000 Dongguan
City, Guangdong Province, China.
[Tel: (86 769) 8903 1913; Fax:
(86 769) 8288 5573]
62620391
2024810
10th January, 2014.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 10-01-2014)
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Name |
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No. of shares |
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WANG Xiaohui |
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10,000 ===== |
(As per registry dated 10-01-2014)
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Name (Nationality) |
Address |
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WANG Xiaohui |
No, 12, Team 7, Zhuanwayao Village, Fengyingzi Town, Shuangqiao
District, Chende City, Hebei Province, China. |
(As per registry dated 10-01-2014)
|
Name |
Address |
Co. No. |
|
Hong Kong United Accounting & Secretarial Ltd. |
Unit D, 16/F., Cheuk Nang Plaza, 250 Hennessy Road, Wanchai, Hong
Kong. |
0932922 |
HongKong BEC Technology Co. Ltd. was incorporated on 10th January, 2014
as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Unit D, 16/F., Cheuk Nang Plaza, 250 Hennessy
Road, Wanchai, Hong Kong known as Hong Kong United Accounting & Secretarial
Ltd. which is handling its correspondences and documents. This company is also the corporate secretary
of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each which are wholly-owned by Mr. Wang
Xiaohui who is a China merchant.
He is a China ID holder and does not have the right to reside in Hong
Kong permanently. He is also the only
director of the subject.
The subject has had an associated company Dongguan BEC Technology Co.
Ltd. [Dongguan BEC] which is in Dongguan City, Guangdong Province, China. Your given phone and fax number (86 769) 8903
1913 and
(86 769) 8288 5573 respectively belong to Dongguan BEC.
The contact person of Dongguan BEC Mr. Wang Yongjun is a Chinese.
Dongguan BEC is engaged in manufacturing liquid e-cigarette / electronic
cigarette. Most of the products bear the
brand name BEC.
Established in 2004, Dongguan BEC has about 250 employees.
Payment term is 30% T/T in advance, 70% release before shipping. Its products are exported to 60
countries. The annual sales turnover of
Dongguan BEC ranges from US$1.0 to 1.2 million.
The subject is trading in the same commodities as Dongguan BEC.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over nine
months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
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|
1 |
Rs.98.06 |
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Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SMN |
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 |
|
-- |
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.