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Report No. : |
328636 |
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Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG RAGENTEK COMMUNICATION TECHNOLOGY CO. LTD. |
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Registered Office : |
c/o Baililai International Group (HK) Ltd. Room 1501 C1, Grand Millennium Plaza (Lower Block), 181 Queen’s Road,
Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.09.2008 |
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Com. Reg. No.: |
39775105 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Mobile Phone. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Hong Kong |
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 |
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.
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Source
: CIA |
HONGKONG RAGENTEK COMMUNICATION TECHNOLOGY
CO. LTD.
ADDRESS: c/o Baililai
International Group (HK) Ltd.
Room 1501 C1, Grand Millennium Plaza (Lower
Block), 181 Queen’s Road, Central, Hong Kong.
PHONE: 852-2545 8556
FAX: 852-3571 9160
MANAGEMENT:
Managing Director: Ms. Wang
Cuiling
Incorporated on: 10th September,
2008.
Organization: Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Mobile
Phone Trader.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Baililai International Group (HK) Ltd.
Room 1501 C1, Grand Millennium Plaza (Lower Block), 181 Queen’s Road,
Central, Hong Kong.
Holding Company:-
Vertex Gate Ltd., British Virgin Islands.
Associated
Companies:-
Emobile (Hongkong) Communication Technology Ltd., Hong Kong.
eMobile Comm. (Shanghai) Inc., China.
eMobile Comm. Inc., Cayman Islands.
RagenTek (Huizhou) Electronic Co. Ltd., China.
Shanghai RagenTek Communication Technology Co. Ltd.
3938 Huqingping Highway, Shanghai, 201703 China.
39775105
1271710
Managing Director: Ms. Wang Cuiling
HK$10,000.00
(As per registry dated 10-09-2014)
|
Name |
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No. of shares |
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Vertex Gate Ltd. P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola,
British Virgin Islands. |
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10,000 ===== |
(As per registry dated 10-09-2014)
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Name (Nationality) |
Address |
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WANG Cuiling |
No. 76, Lane 318, Minmin Road, New Pudong District, Shanghai City,
China. |
(As per registry dated 10-09-2014)
|
Name |
Address |
Co. No. |
|
Smart Registrations Ltd. |
7/F., Kin On Commercial Building, 49‑51 Jervois Street, Sheung
Wan, Hong Kong. |
0523381 |
The subject was incorporated on 10th September, 2008 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: Mobile phone
trader.
Lines: Mobile phones
Brand Name: RagenTek.
Employees: Nil.
Commodities
Imported: Imports raw materials
from European countries, some of the Asian countries and finished products from
China.
Markets: China, Japan,
other Asian countries, Europe
Terms/Sales: L/C, Advanced T/T
Terms/Buying: L/C, T/T
Issued Share Capital: HK$10,000.00
Mortgage or
Charge:-
Date: 05-12-2014
Description of Instrument: Debenture
Mortgagee: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Keeping a balance
account in Hong Kong.
Condition: Business is not active
in Hong Kong.
Facilities: Adequate for
current running.
Payment: Met trade
commitments 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, Hongkong RagenTek
Communication Technology Co. Ltd. is wholly owned by Vertex Gate Ltd. which is
a BVI-registered company.
The director of the subject Ms. Wang Cuiling is a China
businesswoman. She is a China ID holder
and does not have the right to reside in Hong Kong permanently. She is also the only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 1501 C1, Grand Millennium Plaza (Lower Block),
181 Queen’s Road, Central, Hong Kong” known as “Baililai International
Group (HK) Ltd.” [Baililai] which is handling its correspondences and
documents. C1 is the file number of the
subject in Baililai. Baililai has more
than one office in Hong Kong.
The subject has no employees in Hong Kong. It is trading in mobile phones bearing the
brand name of RagenTek.
The subject has had a number of associated companies in China. The significant one is eMobile Comm. (Shanghai)
Inc. [eMobile]. Ms. Wang Cuiling is also
the Managing Director of eMobile.
Another significant company is Shanghai RagenTek Communication
Technology Co. Ltd. [Shanghai RagenTek].
Shanghai RagenTek is a leading GSM/GPRS and smartphone solution provider
in China. Shanghai RagenTek belongs to
Shanghai RagenTek Group.
In 2010, eMobile was acquired by Shanghai RagenTek Group.
eMobile was established in May, 2000 and located at Qingpu District,
Shanghai, China. Its registered capital
was USD19.3 million.
eMobile is engaged in driving the whole mobile phone industry moving
ahead from 2G to 2.5G and from 3G to 4G.
It offers customers with EMS, Electronics Manufacturing Services and
focus on communication terminal products, especially on mobile phones.
eMobile provides manufacturing solution in overall production service
from PCB Assembly, Final Assembly to Testing.
It is experienced in GSM/GPRS and CDMA manufacturing.
The subject also has had an associated production base in Huizhou City, Guangdong
Province, China. The factory is known as
RagenTek (Huizhou) Electronic Co. Ltd. [Huizhou RagenTek] which covers an area
of 86,000 sq.m. The factory consists of
four buildings which are six-storeyed.
Huizhou RagenTek has 1,500 employees and its annual production capacity
is over 6 million mobile phones.
The subject has registered its trade mark RagenTek with Trade Marks
Registry, Intellectual Property Department, the Government of the
Hong Kong SAR. This trade mark was
registered on 24th December, 2010 and the expiry date is 23rd December
2020. The trade mark is owned by
eMobile.
The subject is fully supported by Shanghai RagenTek Group.
The subject’s business in Hong Kong is not active. History in Hong Kong is over six years and
nine 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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.66 |
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|
1 |
Rs.100.50 |
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Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.