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Report No. : |
312806 |
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Report Date : |
25.03.2015 |
IDENTIFICATION DETAILS
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Name : |
DEWAV (HK) ELECTRONICS LTD. |
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Registered Office : |
Unit No. 1, 12/F., Perfect Industrial Building, 31 Tai Yau Street, San Po Kong, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
30.06.2011 |
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Com. Reg. No.: |
58591726 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Telecommunication Equipment Trader of Mobile Phones, Spare Parts,
Software. |
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No. of Employees : |
6. (Including Associates) |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hongkong |
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 |
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% 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 34.9 million
in 2012, 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 46.6% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4%
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.
|
Source
: CIA |
DEWAV (HK)
ELECTRONICS LTD.
ADDRESS: Unit No. 1, 12/F., Perfect
Industrial Building, 31 Tai Yau Street, San Po Kong, Kowloon, Hong Kong.
PHONE: 852-2793
4308
FAX: 852-2793
4678
E-MAIL: sales@dewav.com
Managing Director:
Mr. Deng Li
Incorporated on: 30th June, 2011.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Telecommunication
Equipment Trader.
Employees: 6. (Including associates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit No. 1, 12/F., Perfect Industrial Building, 31 Tai
Yau Street, San Po Kong, Kowloon, Hong Kong.
Holding Company:-
Shanghai Dewav Software Technology Co. Ltd.
Room 116, Block 2, 4091 Shangnan Road, Pudong New Area,
Shanghai, China.
Associated/Affiliated
Companies:-
Dewav (HK) Communication Technology Ltd., Hong Kong.
(Same address)
Dewav (Holdings) Ltd., Cayman Islands.
Dewav (Singapore) Holdings Pte. Ltd., Singapore.
Dewav Management Pte. Ltd., Singapore.
Gionee (HK) Communication Equipment Ltd., Hong Kong.
(Same address)
Gionee (HK) Communication Technology Ltd., Hong Kong.
(Same address)
Jurong Hi-Tech (Suzhou) Co. Ltd., China.
Shanghai Dewav Communication Technology Co. Ltd., China.
Smartphi (Shanghai) Electronics Technology Co. Ltd.,
China.
58591726
1624206
Managing Director:
Mr. Deng Li
HK$10,000.00
(As per registry
dated 30-06-2014)
|
Name |
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No. of shares |
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Shanghai Dewav
Software Technology Co. Ltd. Room 116, Block 2, 4091 Shangnan Road, Pudong New Area,
Shanghai, China. |
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10,000 ===== |
(As per registry
dated 30-06-2014)
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Name (Nationality) |
Address |
|
DENG Li |
Unit No. 1, 12/F., Perfect Industrial Building, 31 Tai
Yau Street, San Po Kong, Kowloon, Hong Kong. |
(As per registry dated 30-06-2014)
|
Name |
Address |
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NG Ching Yee |
Room 202P, 2/F., Lai Cheong Factory Building, 479-479A
Castle Peak Road, Kowloon, Hong Kong. |
The subject was
incorporated on 30th June, 2011 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject was
located at Unit 106, 1/F, Max Trade Centre, 23 Luk Hop Street, San Po Kong,
Kowloon, Hong Kong, moved to the present address in November 2011.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Telecommunication
Equipment Trader.
Lines: Mobile
phones, spare parts, software
Employees: 6. (Including associates)
Commodities Imported: China,
Europe, US, etc.
Markets: China,
Southeast Asia, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Issued Share Capital: HK$10,000.00
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary
shares of HK$1.00 each, Dewav (HK) Electronics Ltd. is wholly owned by Shanghai
Dewav Software Technology Co. Ltd. [Shanghai Dewav] which is a Shanghai-based
firm.
The only director of
the subject Mr. Deng Li is a China merchant.
He is a China passport holder and does not have the right to reside in
Hong Kong permanently.
The subject commenced
business in June 2011. It is sharing the
operating office with its associate company Dewav (HK) Communication Technology
Ltd. which is also a Hong Kong-registered firm.
The subject is a
communication product, chiefly mobile phones, and software trader. It also trades in the products of Shanghai
Dewav.
The subject 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. The subject
bears the licence No. of RU00151376 - RU.
The subject is one of
the members of the Dewav Group. In 2008,
the Group acquired a plant in Suzhou City, Jiangsu Province, China via Dewav
Management Pte. Ltd. [DMPL]. Currently,
Dewav Group is holding 30% of DMPL. The
other 70% is held by Jurong Technologies Industrial Corporation Ltd.
[Jurong]. Jurong is a 9% owner of Dewav
(Holdings) Ltd., a firm registered in the Cayman Islands.
Shanghai Dewav is a
hi-tech enterprise specialized in design and manufacture of communication
terminal and consumer electronics in China.
It is staffed by over 100 technical employees and builds up a completed quality
control system, thus offering the company an all-round competence in design
from hardware, software, mechanical design, moulding to mass production. Now, Shanghai Dewav has developed into one of
the three best design companies in China.
The annual sales volume is over 8 million sets of Dewav’s products,
while extensively expanding overseas markets which covered Europe and Southeast
Asia.
Shanghai Dewav is
supported by Microsoft, Samsung, ADI and so on.
It has launched various terminal products such as feature phone, smart
phone based on Windows Mobile 6.0, 3G phone (TD-SCDMA), GPS Navigator
(PND). It also has developed cooperation
relationships with many distinguished companies which include ZTE, Haier, etc.
The annual sales
turnover of Shanghai Dewav is quite significant.
The subject is fully
supported by Shanghai Dewav. History in
Hong Kong is just over three years and eight months.
On the whole, since
the history of the subject is still short, consider it good for normal business
engagements on L/C basis or in small credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.20 |
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|
1 |
Rs.92.93 |
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Euro |
1 |
Rs.68.03 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.