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Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
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Name : |
FINELINE
TECHNOLOGIES LLC LTD. |
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Registered Office : |
Unit A, 10/F., Manning Industrial Building, 116-118 How Ming Street, Kwun Tong, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
02.07.2003 |
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Com. Reg. No.: |
33931848 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
TRADER
OF BARCODE TICKETING SOLUTIONS, RELATED PRODUCTS. |
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No. of Employees : |
16 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
HONGKONG - 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 |
FINELINE
TECHNOLOGIES LLC LTD.
ADDRESS: Unit A, 10/F., Manning Industrial
Building, 116-118 How Ming Street, Kwun Tong,
Kowloon, Hong Kong.
PHONE: 852-2156 9788
FAX: 852-2156
9166
E-MAIL: support@finelinetech.com.hk
Managing Director: Ms. Zhang Hongqiao
Incorporated on: 2nd July, 2003.
Organization: Private Limited Company.
Issued Share Capital: HK$100.00
Business Category: Barcode
Product Trader.
Employees: 16.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit A, 10/F., Manning Industrial Building, 116-118 How Ming Street,
Kwun Tong, Kowloon, Hong Kong.
Holding Company:-
Fineline Technologies Inc., US.
Associated
Company:-
Shenzhen Fineline Barcode Technologies LLC
1-3/F., Block D, Huichiao Industrial Park, Gushu Second Road, Xixiang,
Bao’an District, Shenzhen SEZ, China.
33931848
0851771
Managing Director: Ms. Zhang Hongqiao
Contact Person: Mr. Charlie White
HK$100.00
(As per registry
dated 02-07-2014)
|
Name |
|
No. of shares |
|
Fineline Technologies Inc. 3145 Medlock Bridge Road, Norcross, GA 30071. |
|
100 === |
(As per registry
dated 02-07-2014)
|
Name (Nationality) |
Address |
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Robert HEALY |
206 Lindon Winnetka, Lllinois 60093, U.S.A. |
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Richard Patton JAYNES |
1703 Granger Court, Atlanta GA 30341. U.S.A. |
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Donavon Richard STAMPER |
5225 Linnadine Way, Norcross, Georgia 30092, U.S.A. |
|
ZHANG Hongqiao |
11025 Brunson Drive, Duluth, GA 30097, U.S.A. |
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Jeffery FARRERO |
4942 Stonewall Avenue, Downers Grove Lllinois 60515, U.S.A. |
(As per registry
dated 02-07-2014)
|
Name |
Address |
Co. No. |
|
Reachtop Registrations Ltd. |
Room 2808, 28/F., Asia Trade Centre, 79 Lei Muk Road, Kwai Chung, New
Territories, Hong Kong. |
1438692 |
The subject was incorporated on 2nd July, 2003 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Bloom Tech Ltd.,
name changed to the present style on 10th September, 2003.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Barcode
Product Trader.
Lines: Barcode
ticketing solutions, related products
Employees: 16.
Commodities Imported: China,
Europe, US, etc.
Markets: Hong
Kong, other Asian countries, Europe, North America, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Issued Share Capital: HK$100.00
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 100 ordinary shares of HK$1.00 each, Fineline Technologies
LLC Ltd. is a wholly-owned subsidiary of Fineline Technologies Inc. [FTI] which
is a US-based company.
The subject is trading in the same commodities as FTI.
FTI provides barcode ticketing solutions for retailers, suppliers, and
manufacturers around the world. It
offers integrated tickets for private label branding, such as labels, hang
tags, pocket flashers, joker tags, size strips, carton labels, promotional
tags, etc.; specialty tags and labels, which include transfer, woven labels,
leather patches, and other thin package items; products for barcode creation
and verification; and retailer tickets, such as FastTrak, tickets/tags/labels,
private label branding, specialty tags and labels, Colorsync, retailer tickets,
and e-Codes. The company also provides
media products, such as label stock and ribbons; printers and verifiers; and
pre-press software solutions for creating barcodes and counts for printing,
plate making, graphic arts, pharmaceuticals, consumer products, and couponing
industries.
In addition, it offers SymArt 8 software, a barcode generation software
program; SymArt SVT for barcodes standards; SymArt DVT 3.0 for pre-press
proofing and barcode verification; SymArt Coupon Creator 8 (GS1 Databar) for
coupon creation; SymArt 8 technology, a solution for creating ISBN barcodes;
SymArt Express 8, a barcode creation software; and SymArt Databar, a technology
that allows users to create digitally verifiable codes.
Further, FTI provides in-store mobile merchandising solutions for
retailers and brands; Internet based solutions for order processing, tracking,
and management; specialty tags and labels, heat transfer tagless labels, and
printed and woven fabric labels; and specialty items, which include
eco-friendly items, leather or rubber patches, and buttons. Furthermore, it offers consulting services in
areas, such as barcoding, in-house ticketing, and RFID.
FTI was founded in 1998 and is based in Norcross, Georgia. It owns and operates facilities in the United
States, Canada, and Shenzhen SEZ of China apart from the subject.
FTI’s associated company in China is known as Shenzhen Fineline Barcode
Technologies LLC which is in Shenzhen Special Economic Zone, China. The Shenzhen company was set up in 2006. Its factory covers an area of about 3,500
sq.m. and has about 100 employees.
The products of the Shenzhen factory are exported and marketed by the
subject in Hong Kong. Business is
active.
The contact person of the subject Mr. Charlie White is an American.
As the history of the subject is over eleven years and four months in
Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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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.