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Report No. : |
327739 |
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Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
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Name : |
OCTEL NETWORKS LTD. |
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Registered Office : |
Room K, 4/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
06.12.2011 |
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Com. Reg. No.: |
59226932 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Networking Solution Provider of all kinds of IT Products. |
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No. of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 |
OCTEL
NETWORKS LTD.
ADDRESS: Room
K, 4/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon,
Hong Kong.
PHONE: 852-6032 7949
E-MAIL: sales@octelnetworks.com
Managing Director:
Mr. Divan Hasan Mohammed Bava
Incorporated on: 6th December, 2011.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Networking
solution provider.
Employee: 1.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room K, 4/F., Far East Mansion, 5-6 Middle Road,
Tsimshatsui, Kowloon, Hong Kong.
Associated
companies:-
Nonatel Solutions Global Pvt. Ltd., India.
Octel Institute of Technologies, India.
Octel Networks Pte Ltd., Singapore.
Octel Networks Pvt Ltd., India.
59226932
1687395
Managing Director:
Mr. Divan Hasan Mohammed Bava
HK$10,000.00
(As per registry dated 06-12-2014)
|
Name |
|
No. of shares |
|
Divan Hasan MOHAMMED BAVA |
|
10,000 ===== |
(As per registry dated 23-02-2015)
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Name (Nationality) |
Address |
|
Sheik Mujib Rahuman MOHAMMED BAVA |
40/100 Quide Millath Ismail Street, Puliyangudi 627 855
Sivagiri T.K. – Tirunelveli District, India. |
|
Divan Hasan MOHAMMED BAVB |
Room C4, 13/F., Block C, 36-44 Nathan Road,
Tsimshatsui, Kowloon, Hong Kong. |
(As per registry dated 06-12-2014)
|
Name |
Address |
Co. No. |
|
Central Dynamic Secretarial Ltd. |
Unit 5-6, 7/F., Greenfield Tower, Concordia Plaza, 1
Science Museum Road, Tsimshatsui, Kowloon, Hong Kong. |
0563433 |
The subject was
incorporated on 6th December, 2011 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject
was located at Room C4, 13/F., Block C, 36-44 Nathan Road, Tsimshatsui,
Kowloon, Hong Kong, moved to the present address in early 2015.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Networking
solution provider.
Lines: All
kinds of IT products.
Employee: 1.
Commodities Imported: China,
other Asian countries, Europe, etc.
Markets: India,
Singapore, other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Issued Share Capital: HK$10,000.00
Profit or Loss: Made
a very small profit in 2014.
Condition: Business
is normal.
Facilities: Adequate
for current running.
Payment: Met as required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary
shares of HK$1.00 each, Octel Networks Ltd. is wholly owned by Mr. Divan Hasan
Mohammed Bava who is an India merchant.
He and Mr. Sheik Mujib Rahuman Mohammed Bava are directors of the
subject.
The subject’s
registered address is in a private building located at Room K, 4/F., Far East
Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong. The residential building is not trespassed by
outsiders.
The subject’s
telephone number and fax number have not registered with local telephone
company nor listed on telephone directories.
However, Divan Hasan Mohammed Bava can be reached at his Hong Kong
mobile phone number 852-6032 7949.
The subject is an IT
product trader. It has registered with
the Office of the Communications Authority (OFCA), The Government of Hong Kong
SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee
(as at 15th June, 2015). The subject
bears the licence No. of RU00175566 - RU.
The subject has had
an associated company Octel Networks Pvt Ltd. [Octel Networks] which is in
India.
Octel Networks is a
Leading Provider of IT Infrastructure Solutions as well as New, Pre-owned, Used
and Refurbished Cisco Equipment in India.
Its product portfolio
includes products from the well-known brands in the field of Computer
Networking. It has been providing new and used wide range of network equipment
such as new cisco routers, cisco switches, cisco firewalls, cisco modems, cisco
servers and also we provide used cisco routers, used cisco switches, used cisco
firewalls, used cisco modems and used cisco servers, etc. to various MNC’s,
Software Organizations, Network Integrators and Network consultants
worldwide. It also sells to resellers as
well as to large and medium sized end-user businesses.
At present Octel
Networks has offices in Bangalore (H.O), Chennai, Hyderabad, Singapore,
Australia, the United States and Hong Kong.
Hong Kong office is the subject.
The business of the
subject is chiefly handled by Divan Hasan Mohammed Bava himself. History in Hong Kong is just over three years
and six months.
On the whole,
consider the subject good for normal business engagements in small credit
amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.51 |
|
|
1 |
Rs.100.94 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
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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.