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Report No. : |
320490 |
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Report Date : |
06.05.2015 |
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 : |
Hongkong |
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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 : |
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) |
|
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 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 |
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
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.
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.
Associated Factory:-
Harbour Light Electronic Technology (Shenzhen) Co. Ltd.
Flat 1502, Block A, World Trade Plaza, 9 Fuhong Road,
Futian District, Shenzhen Special Economic Zone, China.
[Tel: 86-0755-6139
0965
E-mail: clzhu@harbourlight.com.hk]
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
19-12-2014)
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Name (Nationality) |
Address |
|
CHUNG Chi Wai, Lawrence |
House 9, The Aegean, 2 Tsing Fat Street, Tuen Mun,
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, etc.
Employees: 12. (Including associated companies)
Commodities Imported: China,
other Asian countries, etc.
Markets: Southeast
Asia, Europe, North America, etc.
Terms/Sales: L/C, T/T, etc.
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 manner.
Facilities: Making rather active use of general
banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
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: 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 also 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 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.
The subject has had
an associated factory in Shenzhen Special Economic Zone, China. The total employees of the Group is over
160. There are about 80 engineers in its
Shenzhen SEZ factory.
Besides marketing its
own products, the subject also has over 10 agents who are distributing and
exporting its products.
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,
offering software and hardware design services at turnkey level.
The overall business
of the subject is satisfactory. Business
is chiefly handled by Chung Chi Wai, Lawrence himself. History in Hong Kong is over thirteen years
and four months.
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.63.52 |
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|
1 |
Rs.95.96 |
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Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.