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Report No. : |
324788 |
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Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
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Name : |
C&D HONG
KONG LTD. |
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Registered Office : |
C/o HKRTP Ltd.,
MSC2137, Room 1007, 10/F., Ho King Commercial Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.01.2003 |
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Com. Reg. No.: |
33308920 |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employee : |
Not Available NOTE: It is to be noted that
the company does not have its own operating office in Hong Kong. The company
uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong
Kong. Such companies are registered in Hong Kong just to tax benefit purpose
and due to the strict privacy laws prevailing in the country. In such cases,
the companies are not required to have any employees in Hong Kong nor do have
an office there. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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% 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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy protests that began in late September probably will have some adverse effects on economic growth, particularly retail sales.
|
Source
: CIA |
C&D
HONG KONG LTD.
C/o HKRTP Ltd.
MSC2137, Room 1007,
10/F., Ho King Commercial Centre,
2-16 Fa Yuen
Street, Mongkok, Kowloon,
Hong Kong.
(Your
enquiry given as:
C AND D HONG KONG LTD.
with
former located at:
c/o HKRTP Ltd.
MSC2137, Room
1602, 16/F., Omega Plaza,
32 Dundas Street, Mongkok,
Kowloon, Hong Kong.)
Registered Office:-
c/o HKRTP Ltd.
MSC2137, Room 1007, 10/F., Ho King
Commercial Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon, Hong Kong.
Associated Companies:-
Huizhou C&D
Industry Co. Ltd., China.
Shenzhen C&D
Electronics Co. Ltd., China.
33308920
0831008
24th January,
2003.
HK$10,000.00
(As
per registry dated 24-01-2015)
|
Name |
|
No.
of shares |
|
ZHANG Hui |
|
10,000 ===== |
(As
per registry dated 24-01-2015)
|
Name (Nationality) |
Address |
|
ZHANG Hui |
West 3/F., Building 542, Ba Gua 3 Road,
Futian District, Shenzhen City, China. |
(As
per registry dated 24-01-2015)
|
Name |
Address |
Co.
No. |
|
HKRTP
Ltd. |
Room 1007, 10/F., Ho King Centre, 2-16 Fa Yuen Street, Mongkok,
Kowloon, Hong Kong. |
0663489 |
The
subject was incorporated on 24th January, 2003 as a private limited liability company
under the Hong Kong Companies Ordinance.
Formerly
the subject’s registered address was located at ‘MSC2137, Room 1602,
16/F., Omega Plaza, 32 Dundas Street, Mongkok, Kowloon, Hong Kong’ where was
the old operating address of a commercial service provider HKRTP Ltd. It has moved to the present address in recent
years, so did the subject.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
C&D
Hong Kong Ltd. was incorporated on 24th January, 2003 as a private limited
liability company.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at
‘MSC2137, Room 1007, 10/F., Ho King Commercial Centre, 2-16 Fa Yuen Street,
Mongkok, Kowloon, Hong Kong’ known as ‘HKRTP Ltd.’ which is handling its
correspondences and documents. HKRTP
Ltd. is also the corporate secretary of the subject.
The
subject has no employees in Hong Kong.
‘MSC2137’ is the file number of the subject in the secretarial company.
HKRTP
Ltd. has assigned an employee Ms. Sophia Chow to handle the business of the
subject. She can be reached at her Hong
Kong phone number 852-2359 1160.
According
to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary
shares of HK$1.00 each which are wholly-owned by Mr. Zhang Hui who is a
China merchant.
He
is a China passport holder and does not have the right to reside in Hong Kong
permanently. He is also the only
director of the subject.
The
subject has had two associated companies in China while the significant one is
Shenzhen C&D Electronics Co. Ltd. [Shenzhen C&D].
Shenzhen
C&D was founded in 2004. It is one
of the leading enterprises in domestic smart control industry. It has become a national high-tech enterprise
with a comprehensive competition which includes R&D, manufacturing,
marketing as well as brand establishing.
It produces more than 3,000 types of products including smart control
system, terminal device, system integration, etc. Currently, it has 2 factories with a building
area of 21,000 square meters and more than 1,000 employees. Its annual production capacity exceeds 35
million units.
Starting
from a remote control manufacturer, Shenzhen C&D has developed into a
supplier of smart control systems and services.
70% of its products have been sold abroad, serving 70% of global top 500
consumer electronics giants.
Furthermore, it is one of the largest remote control producers in China.
More
than 50 items of new products have been developed into mass production every
year embedded with most of mainstream wireless communication protocols such as
RF4CE, Zigbee, Z-wave, WIFI and BLUETOOTH.
Shenzhen
C&D has got ISO9001:2008 quality management system and ISO14001:2004
environmental management system certification respectively. Besides, it won many authorized verifications
such as UAT534, UAT520 verification of Philips, CE, FCC, EICC and BSCI.
The
subject’s business in Hong Kong is not active.
History in Hong Kong is over twelve years and four months.
Since
the subject does not have its own operating office and has no employees in Hong
Kong, consider it good for business engagements on L/C basis.
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.83 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
ASH |
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.