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Report No. : |
334578 |
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Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SPEED DRAGON MULTIMEDIA LTD. |
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Registered Office : |
Room 1312, 13/F., Vanta Industrial Centre, 21-33 Tai Lin Pai Road, Kwai Chung, New Territories |
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Country : |
Hongkong |
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Date of Incorporation : |
02.05.1997 |
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Com. Reg. No.: |
20752219 |
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Legal Form : |
Private Limited Company. |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER ALL KINDS OF COMPUTER
PERIPHERALS, MULTIMEDIA DEVICES. |
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No. of Employees : |
8. (Including associate in Hong Kong) |
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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Hongkong |
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 |
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 12.5% of
total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese
companies constituted about 50% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China
signed a new agreement on achieving basic liberalization of trade in services
in Guangdong Province under the Closer Economic Partnership Agreement, adopted
in 2003 to forge closer ties between Hong Kong and the mainland. The new
measures, effective from March 2015, cover a negative list and a most-favored
treatment provision, and will improve access to the mainland's service sector
for Hong Kong-based companies.
|
Source
: CIA |
SPEED
DRAGON MULTIMEDIA LTD.
ADDRESS: Room 1312, 13/F., Vanta
Industrial Centre, 21-33 Tai Lin Pai Road, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2928
7018, 3525 0638
FAX: 852-2415
5708
E-MAIL: info@speeddragon.com
Managing Director:
Mr. Leung Pak Shing
Incorporated on: 2nd May, 1997.
Organization: Private Limited Company.
Issued Share Capital: HK$1,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Annual Turnover: HK$85 - 95 million.
Employees: 8. (Including associate in Hong
Kong)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 1312, 13/F., Vanta Industrial Centre, 21-33 Tai Lin
Pai Road, Kwai Chung, New Territories, Hong Kong.
China Factory:-
Dongguan SyBA Electronics Co. Ltd.
No. 89 Jianye Road, Shitanpu Industrial Park, Tangxia Town,
Dongguan City, Guangdong Province, 523717, China.
[Tel: 86-769-8208 9893;
Mobile:
86-13688990023]
Associated
Companies:-
SyBA Multimedia Inc., USA.
SyBA Speed Dragon Electronic (Shenzhen) Co. Ltd., China.
SyBA Tech Ltd., Hong Kong. (Same address)
20752219
0606461
Managing Director:
Mr. Leung Pak Shing
Contact Person: Mr. Tony Cheng
HK$1,000,000.00
(As per registry
dated 02-05-2015)
|
Name |
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No. of shares |
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LEUNG Pak Shing |
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999,999 |
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WONG Mei Yuk |
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1 |
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–––––––– |
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Total: |
1,000,000 ======= |
(As per registry
dated 02-05-2015)
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Name (Nationality) |
Address |
|
LEUNG Pak Shing |
Room 1312, 13/F., Vanta Industrial Centre, 21-23 Tai
Lin Pai Road, Kwai Chung, New Territories, Hong Kong. |
|
WONG Mei Yuk |
Room 1312, 13/F., Vanta Industrial Centre, 21-23 Tai
Lin Pai Road, Kwai Chung, New Territories, Hong Kong. |
LEUNG Pak Shing (As per registry dated 02-05-2015)
The subject was
incorporated on 2nd May, 1997 as a private limited liability company under the
Hong Kong Companies Ordinance.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of Computer Peripherals, Multimedia Devices.
Employees: 8. (Including associate in Hong Kong)
500. (China)
Materials/Commodities: Imports
raw materials from European countries, some of the Asian countries
and finished
products from China.
Markets: Japan,
Southeast Asia, North America, Europe, etc.
Annual Turnover: HK$85
- 95 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge:-
Date of Assignment
of Receivables – General: 06-09-2004
Amount: To
secure all monies in respect of banking facilities
Property: In
consideration of the Banking Facilities, the Customer, as beneficial owner and
by way of security for the payment of the Secured Monies, hereby assigns, and
agrees to assign, to the Bank the Receivables until all the Secured Monies have
been paid or discharged
Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Business
is profitable.
Condition: Keeping in a normal manner.
Facilities: Making active use of general
banking facilities.
Payment: Met as contracted.
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, Speed Dragon Multimedia Ltd. is
jointly owned by Mr. Leung Pak Shing, holding 999,999 shares, while Ms. Wong
Mei Yuk, just holding a single share.
The subject,
established in 1996, is a global manufacturer of computer peripherals and
multimedia devices. It has had a team of
electronic engineers, software engineers, mechanical engineers and industrial
& product designers. Having more
than 20 years’ experience in the computer hardware industry, the subject is
engaged in designing, manufacturing, and marketing PCI-Express and PCI add-on
card, ExpressCard and Cardbus adapter, hard disk enclosure, Network Attached
Storage [NAS], IrDA, WIFI, Certified Wireless USB and Bluetooth device, USB
VoIP phone, and other multimedia products.
Most of the products bear the brand name “SyBA”. The other significant brand is “Sybasonic”.
The subject has had a
wholly owned manufacturing plant in Dongguan City, Guangdong Province, China
known as Dongguan SyBA Electronics Co. Ltd. employing about 500 persons. The floor area of the factory covers about 10,000
sq.m. It has been equipped with all
kinds of assembly lines, plastic injection lines, moulding workshop, RoHS
compliance testing laboratory and reliability & failure analysing
laboratory.
Besides marketing in
China, most of the subject’s products are exported to Japan, Southeast Asia,
Europe, North America, etc.
The subject has set
up an office in Shenzhen Special Economic Zone, China, known as SyBA Speed
Dragon Electronic (Shenzhen) Co. Ltd.
In order to penetrate
the international market further, the subject has taken part in fairs and
exhibitions held in Hong Kong and other foreign large cities.
For instance, it is
going to take part in “Hong Kong Electronic Fair 2016 (Spring Edition)” which
will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong
during the period of 13th to 16th April, 2016.
Its booth No. is 5F-B17.
The business is kept
in a normal condition. No derogatory
information has been found about the subject in our database. History in Hong Kong is over 18 years and
three months.
On the whole, consider it good for normal business
engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.96 |
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|
1 |
Rs.99.93 |
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Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
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Report Prepared
by : |
NIT |
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.