MIRA INFORM REPORT

 

 

Report Date :

20.11.2014

 

IDENTIFICATION DETAILS

 

Name :

IDA INTERNATIONAL LTD

 

 

Registered Office :

Room 804, 8F, Block A, Proficinet Industrial Center,6 Wang Kwun Road, Kowloon Bay, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

13.06.2003

 

 

Com. Reg. No.:

33695454

 

 

Legal Form :

Private Limited Liability Company

 

 

LINE OF BUSINESS :

TRADING OF ELECTRONIC ACCESSORIES

 

 

No. of Employees :

About 8 Employees

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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)

Hong Kong

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

 

 

 

Company name and address

 

Company Name (in English):

IDA INTERNATIONAL LIMITED

Supplied Name:

IDA INTERNATIONAL LTD

Trading Address:

Room 804, 8F, Block A, Proficinet Industrial Center,6 Wang Kwun Road, Kowloon Bay, Kowloon, Hong Kong

Supplied Address:

Room 4,8/F,Block A,Proficinet Industrial Center,6 Wang Kwun Road,Kowloon Bay,Kowloon,

 

Note: The exact name and address are as above.

 

 

Company Identification Details

 

Registered Name:

Ida International Limited

Registered Address:

Room 804, 8F, Block A, Proficinet Industrial Center,6 Wang Kwun Road, Kowloon Bay, Kowloon, Hong Kong

Telephone Number:

+852-2780-6283

Fax Number:

+852-2780-6293

Date of Registration:

2003-6-13

Registered Number:

849700

Business Registration No.:

33695454

Registered Capital:

HKD 10,000 (USD 1,290)

(As of 2014.11, 1 HKD = 0.129 USD)

Paid-up Capital:

HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1

Legal Form:

Private Limited Liability Company

SITC Code:

72829--Parts and accessories of a kind used solely or principally for the manufacture of semiconductor, boules or wafers, semiconductor devices, electronic integrated circuits or flat panel displays (kg)

Principal Activities:

Trading of electronic accessories, etc.

Staff:

About 8 Employees

Listed at Stock Exchange:

No

Date of Last Annual Return:

2014-6-13

 

 

History

 

Subject was incorporated on 2003-6-13 with the registered number 849700 as Private Limited Liability Company in Hong Kong.

 

 

Corporate Structure

 

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

SHAREHOLDERS

Unit: HKD

Name

Subscription Amount

Proportion of Investment (%)

Ip Chi Tung

8,000

80%

Yeung Wai Man

2,000

20%

Total

10,000

100%

 

Major Shareholder Information:

 

1

Name:

Ip Chi Tung

Address:

No. 81, Bauhinia Rd. West, Fairview Park, Yuen Long, New Territories, Hong Kong

2

Name:

Yeung Wai Man

Address:

No. 81, Bauhinia Rd. West, Fairview Park, Yuen Long, New Territories, Hong Kong

 

 

Management Information

 

CORE MANAGEMENT

 

Detailed Information of Directors:

1

Name:

Ip Chi Tung

Address:

No. 81, Bauhinia Rd. West, Fairview Park, Yuen Long, New Territories, Hong Kong

Position:

Director

ID Number:

E932030(3)

2

Name:

Full Effort Limited

Address:

Room 320, 3F, Block B, Wing Wah Industrial Building, 31 Chong Yip Street, Kwun Tong, Kowloon, Hong Kong

Position:

Corporate Secretary

Registered Number:

896703

 

Personnel Structure

 

Total Employees

About 8 Employees

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

Room 804, 8F, Block A, Proficinet Industrial Center,6 Wang Kwun Road, Kowloon Bay, Kowloon, Hong Kong

 

Premises Information

 

Office address:

 

Address:

Workshop No. A4 On 8th Floor Of Block A Proficient Industrial Centre No. 6 Wang Kwun Road Kowloon, Hong Kong

Owners:

Chan Cheung Chow

Memorial Number:

10062401120033

Assignment

Date of Instrument:

2010-6-1

Date of Registration:

2010-6-24

Consideration Value:

$1,400,000.00

 

History of Premises Owners’

 

1

Memorial No.:

10062401120025

Date of Instrument:

2010-6-1

Date of Registration:

2010-6-24

Nature:

Agreement For Sale And Purchase

In Favor of:

Chan Cheung Chow

Consideration:

$1,400,000.00

2

Memorial No.:

UB8842046

Date of Instrument:

2002-12-18

Date of Registration:

2002-12-31

Nature:

Agreement For Sale And Purchase

In Favor of:

Chan Ka Keung

Chan Ka Ho

Chan Wing Yee

(Joint Tenants)

Consideration:

$480,000.00

3

Memorial No.:

UB4078166

Date of Instrument:

1989-4-17

Date of Registration:

1989-5-15

Nature:

Equitable Mortgage To Secure General Credit Facilities

In Favor of:

Hang Seng Finance Limited

Consideration:

--

 

Production Information

 

Subject is engaged in trading of electronic accessories, etc. without any production activities.

 

Purchase Information

 

It is introduced that subject purchases its products both at home and abroad.

 

Sales Information

 

Subject is engaged in trading of electronic accessories, etc.

The major products sold by the subject are CPU processors, etc.

It is introduced that one of the brands of subject’s products is Intel.

Sales regions of the subject include domestic market and abroad.

 Subject’s major customers are manufacturers and maintainers of computers, etc.

 

TRADEMARK

 

1

Trade Mark No.:

301499266

Status:

Registered

Mark:

PawCares

image

Mark Type:

Ordinary

Mark Description:

The applicant claims the color metallic silver as an element of mark "A" in the series, the color green as an element of mark "B" in the series, the color blue as an element of mark "C" in the series and the color golden yellow as an element of mark "D" in the series.

Owner's Name, Address:

MEIDA INTERNATIONAL LIMITED

302, Century Center, No. 44-46 Hung To Road, Kwun Tong, Kowloon, Hong Kong.

Owner's Address for Service:

MEIDA INTERNATIONAL LIMITED

302, Century Center, No. 44-46, Kwun Tong, Kowloon,

Hong Kong.

Class No.:

31

Specification:

Class 31

Agricultural, horticultural and forestry products and grains not included in other classes; live animals; fresh fruits and vegetables; seeds, natural plants and flowers; foodstuffs for animals; malt.

Date of Filing:
(D-M-Y)

15-12-2009

Date of Publication of Application of Acceptance for Registration:
(D-M-Y)

07-05-2010

Date of Registration:
(D-M-Y)

15-12-2009

Actual Date of Registration:
(D-M-Y)

16-08-2010

Expiry Date:
(D-M-Y)

14-12-2019

Date of Entry:

16-08-2010

Matters

Registration

2

Trade Mark No.:

301499275

Status:

Registered

Mark:

柏可心

image

Mark Type:

Ordinary

Mark Description:

The applicant claims the color metallic silver as an element of mark "A" in the series, the color green as an element of mark "B" in the series, the color blue as an element of mark "C" in the series and the color golden yellow as an element of mark "D" in the series.

Owner's Name, Address:

MEIDA INTERNATIONAL LIMITED

302, Century Center, No. 44-46 Hung To Road, Kwun Tong, Kowloon, Hong Kong.

Owner's Address for Service:

MEIDA INTERNATIONAL LIMITED

302, Century Center, No. 44-46, Kwun Tong, Kowloon,

Hong Kong.

Class No.:

31

Specification:

Class 31

Agricultural, horticultural and forestry products and grains not included in other classes; live animals; fresh fruits and vegetables; seeds, natural plants and flowers; foodstuffs for animals; malt.

Date of Filing:
(D-M-Y)

15-12-2009

Date of Publication of Application of Acceptance for Registration:
(D-M-Y)

26-02-2010

Date of Registration:
(D-M-Y)

15-12-2009

Actual Date of Registration:
(D-M-Y)

07-09-2010

Expiry Date:
(D-M-Y)

14-12-2019

Date of Entry:

16-08-2010

Matters

Registration

 

Settlements

 

Purchase

 

Domestic Purchase

Products

Electronic accessories, etc.

Payment Terms

T/T, Cash, etc.

 

Import

Products

Electronic accessories, etc.

Payment Terms

L/C, T/T, etc.

 

Sales

 

Domestic Markets

Product

Electronic accessories, etc.

Selling Terms

T/T, Cash, etc.

 

Export

Product

Electronic accessories, etc.

Selling Terms

L/C, T/T, etc.

 

 

Financial Information

 

The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.

 

Subject’s relevant staff rejected to disclose the financial information; from other sources we could not obtain such information, either.

 

 

Bankers

 

Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.

 

 

Public

 

Mortgage Record

 

No mortgage record is found.

 

 

Lawsuits

 

Up to now, no present or latent litigation of the subject has been found.

High Court Action:

Clear

High Court Baukufty Bankruptcy Proceedings:

Clear

High Court Commercial Action:

Clear

High Court Construction & Arbitration Proceedings:

Clear

High Court Companies Winding-Up:

Clear

 

 

Special Note

 

Interview Details

Name

Mr. Ip

Department:

Sales Department

 

 

Industry Information

 

72829--Parts and accessories of a kind used solely or principally for the manufacture of semiconductor, boules or wafers, semiconductor devices, electronic integrated circuits or flat panel displays (kg)

 

Unit: HKD/000

 

 

2014.05

2014.01~2014.05

 

Quantity

Value

Quantity

Value

Imports

Switzerland

54

66

2,171

1,064

The Mainland of China

523,412

195,845

2,204,643

882,065

Germany

19,213

10,858

76,305

42,639

UK

1,388

1,214

2,896

3,783

Japan

28,753

30,502

123,504

125,129

South Korea

9,415

8,375

209,048

56,938

Exports

Austria

1

2

8

122

Switzerland

34

73

107

210

The Mainland of China

119,531

98,329

532,490

323,845

Germany

32,279

9,243

109,377

35,470

France

70

74

637

637

UK

1,003

265

3,856

813

Japan

1,939

664

9,828

4,521

South Korea

2,026

1,951

3,523

7,931

 

 

External Trade Information:

 

External Merchandise Trade Aggregate Figures

 

Unit: HKD/ Million

 

 

Imports

Domestic Exports

Re-exports

Total exports

Year-on-year % change of Total exports

Merchandise trade balance

2011

3,764,596

65,662

3,271,592

3,337,253

+10.1

-427,343

2012

3,912,163

58,830

3,375,516

3,434,346

+2.9

-477,817

2013

4,060,717

54,364

3,505,322

3,559,686

+3.6

-501,031

2013.03

340,857

5,073

286,638

291,711

+11.2

-49,146

2013.04

332,963

4,503

285,763

290,267

+9.0

-42,696

2013.05

335,809

4,818

286,724

291,542

-1.0

-44,267

2013.06

327,309

4,476

273,161

277,637

-0.2

-49,673

2013.07

342,565

4,783

300,630

305,413

+10.6

-37,152

2013.08

347,059

4,932

302,558

307,490

-1.3

-39,570

2013.09

359,841

4,395

313,436

317,830

+1.5

-42,010

2013.10

361,196

4,458

318,686

323,144

+8.8

-38,052

2013.11

370,104

4,587

320,935

325,522

+5.8

-44,581

2013.12

365,228

4,596

306,281

310,877

0.0

-54,351

2014.01

323,436

4,299

299,157

303,456

-0.4

-19,979

2014.02

266,587

3,276

209,638

212,914

-1.3

-53,673

2014.03

351,889

5,120

296,403

301,523

+3.4

-50,365

2014.04

340,972

4,867

280,816

285,682

-1.6

-55,290

2014.05

348,323

5,299

300,673

305,973

+4.9

-42,350

2014.06

352,316

4,802

304,409

309,211

+11.4

-43,105

 

*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.

 

 

Attachment

 

We visited the following address and confirm the subject located on it, but the guard of the building did not let us take photos on it.

 

Address: Room 804, 8F, Block A, Proficinet Industrial Center, 6 Wang Kwun Road, Kowloon Bay, Kowloon, Hong Kong

 

Block A, Proficinet Industrial Center, 6 Wang Kwun Road, Kowloon Bay, Kowloon, Hong Kong

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.83

UK Pound

1

Rs.96.56

Euro

1

Rs.77.42

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

               

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.