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Report No. : |
354256 |
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Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
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Name : |
LINK CONCEPT ELECTRONICS CO. LTD. |
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Registered Office : |
Flat 9-11, 14/F., Block A, Hi-Tech Industrial Centre, 5-21 Pak Tin Par Street, Tsuen Wan, New Territories |
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Country : |
Hong Kong
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Date of Incorporation : |
19.12.2001 |
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Com. Reg. No.: |
32310225 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Electronic Devices, Core Chips, Multi-Media Consumer Products. |
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No. of Employees : |
12. (Including Associated
Companies) |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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) |
|
Hong Kong |
A1 |
A1 |
|
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 12.5% 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 |
LINK CONCEPT ELECTRONICS CO. LTD.
ADDRESS: Flat 9-11, 14/F., Block A, Hi-Tech
Industrial Centre, 5-21 Pak Tin Par Street, Tsuen Wan, New Territories, Hong
Kong.
PHONE: 852-8114 3755
FAX: 852-3428 3860
MANAGEMENT:
Managing Director: Mr. Chung Chi
Wai, Lawrence
Incorporated on: 19th December, 2001.
Organization: Private Limited Company.
Issued Share Capital: HK$3,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 12. (Including associated companies)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
LINK CONCEPT ELECTRONICS CO.
LTD.
Registered Head
Office:-
Flat 9-11, 14/F., Block A, Hi-Tech Industrial Centre, 5-21 Pak Tin Par
Street, Tsuen Wan, New Territories, Hong Kong.
Holding Company:-
Link Concept International Holdings Ltd., British Virgin Islands.
Affiliated/Associated
Companies:-
Harbour Light Technology Ltd., Hong Kong.
Progress Innovation Ltd., Hong Kong.
(Same address)
Topper Technology Ltd., Hong Kong.
(Same address)
32310225
0780095
Managing Director: Mr. Chung Chi
Wai, Lawrence
HK$3,000,000.00
(As per registry dated 19-12-2014)
|
Name |
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No. of shares |
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Link Concept International Holdings Ltd. P. O. Box 957, Offshore Incorporations Centre, Road Town, Tortola,
British Virgin Islands. |
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3,000,000 ======= |
(As per registry dated 01-05-2015)
|
Name (Nationality) |
Address |
|
CHUNG Chi Wai, Lawrence |
Flat B, 1/F., Block 6, Emerald Palace, 4188 Tai Po Road, Tai Po Kau,
New Territories, Hong Kong. |
(As per registry dated 19-12-2014)
|
Name |
Address |
Co. No. |
|
Excel Search Consultants Ltd. |
Unit 1, 14/F., Yue Xiu Building, |
0621717 |
The subject was incorporated on 19th December, 2001 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: Electronic
devices, core chips, multi-media consumer products.
Employees: 12. (Including associated companies)
Commodities Imported: Taiwan,
China, other Asian countries.
Markets: Southeast
Asia, Europe, North America.
Terms/Sales: L/C, T/T, O/A.
Terms/Buying: As per contracted.
Issued Share Capital: HK$3,000,000.00
Indebtedness: HK$1,764,000.00 (Total amount
outstanding on all mortgages and charges as per last
Annual Return
dated 19-12-2014)
Mortgage or Charge: (See attachment)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Good.
Bankers:- The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
DBS Bank (Hong Kong) Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd.,
Hong Kong.
Standing: Very Good.
Having issued 3 million ordinary shares of HK$1.00 each, Link Concept
Electronics Co. Ltd. is wholly-owned by Link Concept International Holdings
Ltd. which is a BVI-registered company.
The director of the subject Chung Chi Wai, Lawrence is a Hong Kong
merchant. He is an electronic engineer. He is also the founder of Link Concept Group.
Incorporated in December 2001, the subject is engaged in providing
solutions for multimedia consumer products.
At the very beginning, the subject just traded in electronic components,
core chips of CD, DVD, MP3 and other multimedia products. Now, the subject is also engaged in designing
core chips for customers.
Formerly the subject had an associated factory in Shenzhen Special
Economic Zone, China. Now, the subject
sub-contracts its manufacturing to the other companies in Shenzhen SEZ.
Besides marketing its own products, the subject also has over 10 agents
who are distributing and exporting its products.
The subject also imports products from Taiwan, other Asian countries,
Europe, etc.
The subject has had two major customers which are located at the same
address: Progress Innovation Ltd. and
Topper Technology Ltd. Both companies
are registered in Hong Kong. Progress
Innovation is a LED bulb, LED spotlight, LED tube trader.
The subject has had another associated company known as Harbour Light
Technology Ltd. [HLTL] located at a different address. HLTL is jointly owned by Mr. Lawrence Chung
Chi Wai, holding 55% interests; Mr. Chim Hon Chun, holding 25%; and Mr. Tam
Shun Biu, 20%. HLTL is a leading audio
solution provider. It also offers
software and hardware designing services at turnkey level.
In the years ahead, the subject will set up China distributing centres
in Guangzhou, Shanghai, etc.
The overall business of the subject is satisfactory. Business is chiefly handled by Chung Chi Wai,
Lawrence himself. History in Hong Kong
is about fourteen years.
On the whole, consider it good for normal credit requirements.
|
Date |
Particulars |
Amount |
|
07-05-2012 |
Instrument: Security Over Deposits with the Bank Property: A deposit with chargee in the amount of HK$5,000,000 and all monies
under Deposit A/C No. 534-555495 whatever currency it may subsequently be
denominated in, nay renewal of such deposit and the interest thereon together
with any further monies in any deposit account with the chargee at any of its
offices. Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Amount secured (i) all monies in any currency; (ii) interest on such
monies; and (iii) all expenses of the chargee in perfecting or enforcing the
charge |
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19-10-2012 |
Instrument: Charge on Cash Deposit to secure Third
Party Liabilities Property: (1) By way of first fixed
charge & agreement to charge: The Deposit and all right, title and interest of the Company
whatsoever, present and future, thereto and therein, together with any
certificates of deposit or other instruments or securities evidencing title,
or otherwise relating, thereto and any account to which the same is credited. (2) By way of set-off: Any sum standing to the credit of any one or all of the then existing
accounts of the Company with the Bank (3) By way of trust: Any from of encumbrance, guarantee or indemnity taken from the
Customer or any other person, in respect of the Company’s liabilities under
the Charge, without the Bank’s consent (4) By way of trust: Claims against the Customer or any other person in any dissolution or competition
with creditors of the Customer or such other person. Mortgagee: DBS Bank (Hong Kong) Ltd.,
Hong Kong. |
All sums of money and liabilities |
|
29-10-2013 |
Instrument: Deed of Fixed
Charge Property: By way of first fixed charge: All the Debts now or at any time during the continuance of this
security due or owing to the Supplier from the persons who are Debtors to the
extent that the Supplier from time to time owns or will own any interest in
such Debts whether present or future, actual, contingent, residuary or
otherwise, arising in connection with the Agreement or otherwise; and All credit balance from time to time in such accounts opened and
maintained by the Supplier with the Purchaser or such other financial
institutions in Hong Kong or elsewhere, as the Purchaser may from time to
time specify and the Debts and the credit balance from time to time in the
Account By way of first floating charge: The property hereby charged, if and insofar as the property hereby
charged shall, for any reason, be declared to be invalid, unenforceable or
ineffective as first fixed charges under any applicable law. Mortgagee: DBS Bank
(Hong Kong) Ltd., Hong Kong. |
All moneys due or to become due to DBS Bank (Hong Kong) Ltd. under a
Factoring Agreement dated 29-10-2013 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.04 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.73.93 |
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HKD |
1 |
Rs.8.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.