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Report No. : |
323428 |
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Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
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Name : |
TCT MOBILE INTERNATIONAL LTD. |
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Registered Office : |
Room 1910-1912A, 19/F., Tower 3, China Hong Kong City, 33 Canton Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
11.05.2005 |
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Com. Reg. No.: |
35686831 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer and Exporter of All Kind of Mobile Phones. |
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No. of Employees : |
15 [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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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% 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 |
TCT MOBILE
INTERNATIONAL LTD.
ADDRESS: Room 1910-1912A, 19/F.,
Tower 3, China Hong Kong City, 33 Canton Road, Tsimshatsui,
Kowloon, Hong
Kong.
PHONE: 852-3990 0261
MANAGEMENT:
Managing Director: Mr. Wang Pui,
Janus
Incorporated on: 11th May, 2005.
Organization: Private Limited Company.
Issued Share Capital: HK$5,000,000.00
Business Category: Mobile
Phone Trader.
Group Turnover: HK$30,691,054,000 (Year ended 31-12-2014)
Employees: 15. (Including associates)
Main Dealing Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
TCT MOBILE
INTERNATIONAL LTD.
Registered Head
Office:-
Room 1910-1912A, 19/F., Tower 3, China Hong Kong City, 33 Canton Road, Tsimshatsui,
Kowloon, Hong Kong.
Holding Company:-
TCT Mobile Worldwide Ltd., Hong Kong.
(Same address)
Intermediate
Holding Company:-
TCL Communication Technology Holdings Ltd., Cayman
Islands/Hong Kong.
Ultimate Holding
Company:-
TCL Corporation, China.
Associated
Companies:-
TCL Communication
Group of Companies
Honpe Technology (Shenzhen) Co. Ltd., China.
Huizhou TCL Communication Electronic Ltd., China.
Huizhou TCL Mobile Communication Co. Ltd., China.
JRD Communication (Shenzhen) Ltd., China.
JRD Communication Technology (Shanghai) Ltd., China.
Nature Information Science & Technology Ltd., China.
Reachfull Investment Ltd., British Virgin Islands.
T2Mobile Ltd., Hong Kong.
TCL Communication (Ningbo) Ltd., China.
TCL Communication Technology (Chengdu) Ltd., China.
TCL Mobile Communication (HK) Co. Ltd., Hong Kong.
TCL Mobile Communication Technology (Ningbo) Ltd., China.
TCL Mobile-Telefones Ltda., Brazil.
TCT Mobile (US) Inc., US.
TCT Mobile Overseas Ltd., Hong Kong.
TCT Mobile SA DE CV, Mexico.
TCT SAS, France.
TMC Rus Limited Liability Co., Russia.
35686831
0969687
Managing Director: Mr. Wang Pui,
Janus
HK$5,000,000.00
(As per registry dated 11-05-2014)
|
Name |
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No. of share |
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TCT Mobile Worldwide Ltd., Hong Kong. |
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5,000,000 ======= |
(As per registry dated 11-05-2014)
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Name (Nationality) |
Address |
|
Wang Pui, Janus |
Flat J, 20/F., Tower 3, Harbour Place, Hunghom, Kowloon, Hong Kong. |
|
Chan Tuen Yi, Daisy |
Flat C, 4/F., Casa Bella, 117 Caine Road, Mid-Levels, Hong Kong. |
(As per registry dated 11-05-2014)
|
Name |
Address |
Co. No. |
|
Cheto (Nominees) Ltd. |
Room 501, 5/F., Sun Hung Kai Centre, 30 Harbour Road, Hong Kong. |
0098732 |
The subject was incorporated on 11th May, 2005 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of T&A Mobile
Phones International Ltd., name changed to the present style on 19th February,
2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Manufacturer,
Importer and Exporter.
Lines: All
kind of mobile phones.
Employees: 15. (Including associates)
Commodities Imported: China.
Markets: China,
Japan, other Asian countries, Europe, North America, etc.
Group Turnover: HK$ 8,700,694,000
(Year ended 31-12-2010)
HK$10,653,020,000 (Year ended 31-12-2011)
HK$12,031,212,000 (Year ended 31-12-2012)
HK$19,362,061,000 (Year ended 31-12-2013)
HK$30,691,054,000 (Year ended 31-12-2014)
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C or as per contracted.
Issued Share Capital: HK$1.00
Group Profit/(Loss): HK$ 701,770,000
(Year ended 31-12-2010)
HK$ 800,645,000 (Year ended 31-12-2011)
(HK$ 220,028,000) (Year ended
31-12-2012)
HK$ 316,178,000
(Year ended 31-12-2013)
HK$1,107,540,000 (Year ended
31-12-2014)
Group Profit or Loss: Group
business was profitable in 2013 & 2014.
Condition: Keeping in a good
manner.
Facilities: Making active use of
general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Very Good.
TCT Mobile International Ltd. is a wholly-owned subsidiary of TCT Mobile
Worldwide Ltd. which is a Hong Kong-registered firm. The intermediate holding company TCL
Communication Technology Holdings Ltd. [TCL Communication/Company/together with
its subsidiaries collectively refer to the Group] is a Hong Kong listed
firm. TCL Communication bears stock code
02618.
The subject is trading in all kinds of mobile phones manufactured by the
Group.
TCL Communication designs, manufactures and markets an expanding portfolio
of mobile and internet products worldwide under two key brands - ALCATEL ONE
TOUCH and TCL. The Group’s portfolio of
products is currently sold in China and over 120 countries throughout the
Americas, Europe, the Middle East, Africa and Asia. TCL Communication operates its manufacturing
plants and R&D centres in various provinces of China with headquarters in
Shenzhen Special Economic Zone, China.
Currently, TCL Corporation [TCL Corp.] is the Group’s largest
shareholder.
The Group established a new global manufacturing facility in Huizhou,
Guangdong Province in the PRC in 2013 to meet the growing demand for
premium-quality products. The new global
manufacturing facility situates on a site of 120,000 sq.m. to support the
Group’s global operations and commenced production in September 2013.
For the year ended 31st December, 2014, the Group’s audited consolidated
revenue amounted to HK$30,691 million (2013: HK$19,362 million), representing a
y-o-y increase of 59% as compared to that of last year.
The Group’s gross profit margin increased slightly to 19.3% from 19.0%
in last year. The profit of the Group
amounted to HK$1,108 million (2013: HK$316 million), grew by 250.6% as compared
with previous year.
The Group’s sales volume of mobile phones ranked fourth among global
phone manufacturers in the fourth quarter of 2014. Even better, the Group rose to the top among
PRC phone manufacturers and ranked the seventh among global smartphone
manufacturers in the same period.
The Group has been striving to step-up its product portfolio from
feature phones in the past years which made ALCATEL ONETOUCH and TCL mainstream
smartphone industry brands winning market recognition for good value for the
money. The Group has successfully gained
its foothold in the Europe market, later in the North American market where
competition is exceptionally fierce, and subsequently achieved significate
increment in market share in Latin America.
In 2014, the Group delivered a set of promising results despite fierce
competition in the consumer market in the mobile communications sector. The sales of the Group’s handsets remained
strong across various markets. Total
sales volume of handsets and other products reached 73.5 million units,
representing a y-o-y increase of 33%, with 65.9 million units sold in overseas
markets and 7.6 million units sold in China.
During the year, sales volume of smart devices increased by 136% y-o-y
to 41.5 million units, and accounted for 56% of the Group’s total shipments.
In 2014, the Group’s overall gross profit margin remained at a healthy
level of 19.3%, up from 19.0% from 2013.
The Americas remained a major growing market, reporting a significant
82% increase in revenue, whilst Europe, the Middle East and Africa, Asia
Pacific and China recorded revenue increases of 25%, 49% and 105% respectively.
The Group had over 14,000 employees as at 31st December, 2014. Its employees are in Hong Kong, China and
overseas.
The subject is fully supported by the Group. History in Hong Kong is over ten years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
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|
1 |
Rs.99.67 |
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Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
|
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|
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Report Prepared
by : |
TPT |
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.