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Report No. : |
338127 |
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Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
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Name : |
PANDA ELECTRONICS IMP. & EXP. (HK) CO. LTD. |
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Registered Office : |
4/F., Block C, Sea View Estate, 2-8 Watson Road, North Point |
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Country : |
Hongkong |
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Date of Incorporation : |
24.06.2011 |
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Com. Reg. No.: |
58563907 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of all kinds of Electronic Product |
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No. of Employees : |
4 |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
PANDA
ELECTRONICS IMP. & EXP. (HK) CO. LTD.
ADDRESS: C/o
Zenith Corporation Ltd.
4/F., Block
C, Sea View Estate, 2-8 Watson Road, North Point, Hong Kong.
(With
former located at:
30/F.,
Times Tower, 391-403 Jaffe Road, Wanchai, Hong Kong.)
PHONE: 852-2893
0728
FAX: 852-2527
5407
Managing Director:
Mr. Xu Guo Fei
Incorporated on: 24th June, 2011.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Electronic
Product Trader.
Group Turnover: RMB19,832.6 million Yuan (Year ended 31-12-2014)
Employees: 4.
Main Dealing Banker: Agricultural
Bank of China, Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
c/o Zenith Corporation Ltd.
4/F., Block C, Sea View Estate, 2-8 Watson Road, North
Point, Hong Kong.
Holding Company:-
Nanjing China Electronics Panda Corporation, China.
Associated Company:-
Panda LCD Technology (Hong Kong) Co. Ltd., Hong Kong.
58563907
1621427
Managing Director:
Mr. Xu Guo Fei
Contact Person: Ms. Cheung Yui Hung
HK$10,000.00
(As per registry dated 24-06-2015)
|
Name |
|
No. of shares |
|
Nanjing China
Electronics Panda Corporation 37 Jianning Road, Xiaguan District, Nanjing, Jiangsu Province,
China |
|
10,000 ===== |
(As per registry dated 24-06-2015)
|
Name (Nationality) |
Address |
|
XU Guo Fei |
Room 1002, No. 50 Fo Xin Qiao, Xuan Wu Qu, Nanjing Shi,
China. |
|
TU Chang Bai |
Chan Ye Ji Tuan Gong Si, No. 27 Wanshou Lu, Haidian Qu,
Beijing Shi, China. |
(As per registry dated 24-06-2015)
|
Name |
Address |
|
CHEUNG Yui Hung |
4/F., Block C, Sea View Estate, 2-8 Watson Road,
North Point, Hong Kong. |
The subject was
incorporated on 24th June, 2011 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject
was located at 30/F., Times Tower, 391-403 Jaffe Road, Wanchai, Hong Kong, moved
to the present address in August 2014.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Electronic
Product Trader.
Lines: All
kinds of electronic products, etc.
Employees: 4.
Commodities Imported: China,
other Asian countries, Europe, etc.
Markets: China,
Asian countries, Europe, North America, Middle East, etc.
Group Turnover: RMB18,208.4 million Yuan (Year ended 31-12-2013)
RMB19,832.6 million
Yuan (Year ended 31-12-2014)
Terms/Sales: L/C or as per contracted.
Terms/Buying: Various
terms.
Issued Share Capital: HK$10,000.00
Group Profit/(Loss):
RMB187.5 million Yuan (Year ended 31-12-2013)
RMB448.8
million Yuan (Year ended 31-12-2014)
Profit or Loss: Group
business was profitable in past two years.
Condition: Business
is normal.
Facilities: Adequate
for current running.
Payment: So far so good.
Commercial Morality:
Good.
Banker: Agricultural Bank of
China, Hong Kong.
Standing: Good.
Panda Electronics
Imp. & Exp. (HK) Co. Ltd. is a wholly-owned subsidiary of Nanking China
Electronics Panda Corporation [Panda/Group] which is a China-based and listed
company.
The subject is using
the office of Zenith Corporation Ltd. [Zenith] as its corresponding
address. Zenith is an affiliated company
of the subject. The contact person of
Zenith Ms. Cheung Yui Hung is also the company secretary of the subject.
Panda is engaged in
research and development, manufacturing and sales of telecommunication
equipment, computers and electronic equipment as well as provision of
technological services. It was
established in April 1992 after the reorganization of the original Panda
Electronics Group Company. The history
of Panda can be traced back to 1936 and is the earliest electronics enterprise
in the PRC. Its shares were listed on
Shanghai Stock Exchange on 18th November 1996.
The principal
operations of Panda are the development, manufacturing and sales of satellite communication
products, mobile telecommunication products, electronic equipment products and
electronic intelligent products.
Its registered
trademark is “PANDA” which is the
first well known trademark in the PRC in the electronics information industry.
Panda possesses solid
research and development capabilities and owns 3 State-level engineering
technology development centres. It has
got an ISO‑9001 certification and has established a scientific quality
management system and an advanced corporate management information system.
It has set up joint
ventures with multinational companies such as Ericsson of Sweden.
The business of Panda
is active. For the year ended 31st
December, 2014, the turnover of the Group amounted to RMB19,832.6 million Yuan
(2013: RMB18,208.4 million Yuan), net profit was RMB448.8 million Yuan
(2013: RMB187.5 million Yuan).
The director of the
subject Tu Chang Bai is also the Chief Financial Controller of the Group. Another director of the subject Mr. Xu Guofie
is also one of the executive directors of Nanjing Panda Electronics Co. Ltd.
which is a listed company in Hong Kong.
The subject is fully
supported by Panda.
As the history of the
subject is over four years and two months in Hong Kong, on the whole,
consider it good for normal credit requirements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.71 |
|
|
1 |
Rs.105.10 |
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Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
|
|
-- |
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.