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Report No. : |
323732 |
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Report Date : |
26.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
DMX TECHNOLOGIES (HONG
KONG) LTD. |
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|
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Registered Office : |
Room 4303,
43/F., 100 How Ming Street, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.08.1994 |
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Com. Reg. No.: |
18526626 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is trader of backbone network product |
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No. of Employee : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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) |
|
Hong Kong |
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 |
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 |
DMX
TECHNOLOGIES (HONG KONG)
LTD.
Address: Room 4303, 43/F., 100 How
Ming Street,
Kwun Tong, Kowloon,
Hong Kong.
(Your
enquiry given as: DMX TECHNOLOGIES HK
With
former located at:
Room
1401, 14/F., Stanhope House,
738
King’s Road, Quarry Bay, Hong Kong.)
PHONE: 852-2520 2660
FAX: 852-2802 2062
E-MAIL: enquiry@dmxtechnologies.com
Managing
Director: Ms. Teo Chor Khin, Jismyl
Incorporated on: 9th
August, 1994.
Organization: Private
Limited Company.
Issued Share Capital: HK$14,880.00
Business Category: Backbone Network Product Trader.
Group Revenue: US$395,898,000 (Year ended 31-12-2013)
Employees: 60.
Main Dealing Banker: Bank of China (Hong Kong) Ltd.,
Hong Kong.
Banking Relation: Good.
Registered Head Office:-
Room 4303, 43/F.,
100 How Ming Street, Kwun Tong, Kowloon, Hong Kong.
Holding Company:-
DMX (BVI) Ltd.,
British Virgin Islands.
Intermediate Holding Company:-
DMX Technologies
Group Ltd., Bermuda. [listed in Singapore]
Ultimate Holding Company:-
KDDI Corporation,
Japan.
Associated Companies:-
DMX Technologies
Group of Companies
1MP (HK) Ltd.,
Hong Kong.
1MP Ltd.,
British Virgin Islands.
1MP Technology
Beijing Ltd., China.
BEE Mediasoft
Ltd., Hong Kong.
Beijing AVN Film
Development Co. Ltd., China.
Beijing DMX
Technologies Ltd., China.
Beijing DMX
Xingnet Information Technology Ltd., China.
DMX Technologies
(China) Ltd., Hong Kong.
DMX Technologies (India)
Private Ltd., India.
DMX Technologies
(Macao Commercial Offshore) Co. Ltd., Macau.
DMX Technologies
(S’pore) Pte Ltd., Singapore.
DMX Technologies
Korea Co. Ltd., Korea.
DMX Technologies
Sdn. Bhd., Malaysia.
Lotun Technologies
Ltd., Hong Kong.
Packet Systems
(Malaysia) Sdn. Bhd., Malaysia.
PT Packet Systems
Indonesia, Indonesia.
18526626
0487940
Managing
Director: Ms. Teo Chor Khin, Jismyl
HK$14,880.00
(As
per registry dated 09-08-2014)
|
Name |
|
No.
of shares |
|
DMX (BVI) Ltd. P.O. Box 957,
Offshore Incorporations Centre, Road Town, Tortola,
British Virgin Islands. |
|
14,879 |
|
TEO Chor Khin, Jismyl |
|
1 |
|
|
|
–––––– |
|
|
Total: |
14,880 ===== |
(As
per registry dated 09-08-2014)
|
Name (Nationality) |
Address |
|
TEO Chor Khin,
Jismyl |
20A Nallur Road, Singapore 456638. |
|
Emmy WU |
Flat A, 46/F., Tavistock II (Tower 2), 10A
Tregunter Path, Hong Kong. |
|
MAK Tak Ming |
Flat E, 24/F., Tower Two, Robinson Place,
70 Robinson Road, Hong Kong. |
(As
per registry dated 09-08-2014)
|
Name |
Address |
Co.
No. |
|
Evershine
Secretaries Ltd. |
Unit 818, 8/F., China Insurance Group Building, 73 Connaught Road
Central, Hong Kong. |
0774373 |
The
subject was incorporated on 9th August, 1994 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally
the subject was registered under the name of Sky Liaison International Ltd.,
name changed to Skynet Consultants Co. Ltd. on 6th December, 1994, and further
to the present style on 14th February, 2001.
Formerly
it was located at 1401, 14/F., Stanhope House, 738 King’s Road, Quarry Bay,
Hong Kong, moved to the present address in May 2013.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Backbone Network Product Trader.
Lines: Broadband network infrastructure, e-commerce
solutions and network security.
Employees: 60.
Commodities Imported: Europe, North America, other Asian
countries, etc.
Markets: Hong Kong, China, other Asian countries, etc.
Group Revenue: US$190,394,000 (Year ended 31-12-2009)
US$270,615,000 (Year ended 31-12-2010)
US$335,716,000 (Year ended 31-12-2011)
US$379,592,000 (Year ended 31-12-2012)
US$395,898,000 (Year ended 31-12-2013)
US$276,312,000 (9 months ended 30-06-2013)
US$247,133,000 (9 months ended 30-06-2014)
Terms/Sales/Services: As per contracted.
Terms/Buying: Various terms.
|
Date |
GN
No. |
Particulars |
Amount |
|
27-06-2003 |
GN4417 |
Supply, delivery, installation, commissioning
and maintenance of backbone network products and the provision of other
related services to various government departments |
HK$200,000,000.00 |
|
30-01-2004 |
GN819 |
The Supply, delivery, Installation,
Commissioning, Training, Maintenance & other Related services of Data
Network Revamp for the Hong Kong Housing Authority (HAQ 37/2003) |
US$1,267,776.40 |
|
30-01-2004 |
GN788 |
Supply, delivery, installation,
commissioning, maintenance and provision of related services of network
products |
HK$90,000,000.00 |
|
31-12-2009 |
GN8239 |
Supply of Information Technology
Professional services to Government for a period of 48 months |
HK$858,000,000.00 |
|
27-09-2013 |
GN5840 |
Supply of Information Technology Professional
services to Government Departments for a period of 48 months |
HK$1,169,200,000.00 |
Issued Share Capital:
HK$14,880.00
Indebtedness: US$2,296,306.43 (Total amount outstanding on all
mortgages and charges as per last Annual Return dated 09-08-2014)
Mortgage or Charge
(since September 2004): (See attachment)
Group Profit
Attributable to shareholders:-
US$ 8,496,000
(Year ended 31-12-2009)
US$15,541,000 (Year ended 31-12-2010)
US$18,585,000 (Year ended 31-12-2011)
US$20,925,000 (Year ended 31-12-2012)
US$22,773,000 (Year ended 31-12-2013)
US$12,326,000 (6 months ended 30-06-2013)
US$ 9,174,000
(6 months ended 30-06-2014)
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.
Banker: Bank of China (Hong Kong) Ltd.,
Hong Kong.
Standing: Good.
DMX
Technologies (Hong Kong) Ltd. is a wholly-owned subsidiary of DMX (BVI) Ltd.
which is a BVI-registered firm. This
firm is wholly-owned by DMX Technologies Group Ltd. [DMX/Group] which is a
Bermuda-registered firm. DMX is a listed
firm in Singapore. As at 18th March,
2013, DMX was a 51.5% owned by KDDI Corporation which is a Japan-based firm.
The
subject is a system architect specialized in broadband network infrastructure,
e-commerce solutions and network security.
Established
in 1994 and headquartered in Hong Kong, the subject provides service and
support through its nine offices across the Asia Pacific region, including Hong
Kong, Beijing, Guangzhou, Xi’an, Shanghai, Fuzhou, Hangzhou, Singapore and
Malaysia. It helps its customers build
metropolitan networks, latest generation data centres, and broadband networks,
and customized security solutions.
The
subject also provides comprehensive services ranging from equipment provision,
network planning, designing, installation, and implementation though to
after-sales maintenance and technical support.
Its complete end‑end product solutions and professional services
help telecommunications service providers and enterprises in Asia Pacific build
their next-generation systems. Its
mission is to be the leading system architect of Asia’s Digital Economy.
The
subject’s service is providing under three product/service segments: D‑net,
D-secure and D-soft. These solutions are
constituted from leading technologies from leading IT vendors in their own
areas of specialization, and where necessary, it develops its own
cost-effective proprietary solutions such as D-net iBAS Series, D-soft EAI
Router and D-secure Chinese Encryption Engine which are compatible with and
complement such leading technologies.
The
subject offers a wide range of service in China, Hong Kong and Malaysia and
commits to extending its regional coverage in Asia, providing inspiring
technologies and solutions to its customers.
Its customer portfolio includes a diverse group of companies in various
industries: telecom, banking and finance, government, Internet service, data
centres, education and utilities, etc.
In
Hong Kong, the subject has got a number of contracts awarded by the Hong Kong
SAR Government in the supply, deliver, installation, commission and maintenance
of backbone network products and the provision of other related services to
various government departments.
The
Group has the following three segments:-
·
Digital Media Solutions –
comprising the integrated solutions provided under the former Digital Fixed
Media segment. This solution caters to
the digitisation of cable operators, broadcasters or the providing of Internet
Protocol TV (IPTV) services to Telecom operators and other service operators;
·
ICT --- Comprising Infrastructure
Solutions, Managed Services
·
Mobil Solution Services
For
the year ended 31st December, 2013, the revenue of the Group amounted to
US$395.9 million (2012: US$379.6 million); profit attributable to shareholders
was US$22.8 million (2012: US$20.9 million).
For
the 9 months ended 30th September, 2014, the revenue of the Group amounted to
US$247.1 million (same period of 2013: US$276.3 million); profit attributable
to shareholders was US$9.2 million (same period of 2013: US$12.3 million).
Please
be advised that Ms. Jismyl Teo Chor Khin, the executive director and CEO of the
Group has been suspended from all executive duties with effect from 9th
February, 2015 for an indefinite period.
It was reported that Ms. Jismyl Teo Chor Khin had been involved in
faked account compiling.
The
subject is fully supported by the Group.
As
the history of the subject is over 20 years and nine months in Hong Kong, on
the whole, consider it good for normal business engagements.
Brief
personal profile of Directors:-
Ms. TEO Chor Khin, Jismyl,
Executive Director and Chief Executive Officer, Jismyl Teo Chor Khin has been
the Chief Executive Officer of the Group since September 2006. Ms Teo is responsible for the strategic
directions, management and financial well-being of our Group. Prior to her current role, Ms Teo was the
Chief Financial Officer and was responsible for all aspects of financial
planning, financial budgeting and control, logistics, human resources,
administration and corporate secretarial matters for the Group. She joined the Group in January 2001 and was
appointed as Director in December 2001.
Ms Teo had worked for Ernst & Whinney as an assistant accountant
from January 1984 to June 1985. Ms Teo
rejoined the Datacraft Asia Group in November 1992 as finance and
administration manager and continued to work for them in a series of positions,
including regional finance manager, joint company secretary and regional
director of operations. She left the
Datacraft Asia Group in January 2001 to join the TVH group in January 2001 and
was assigned the Chief Financial Officer of our Group. Ms Teo is a member of the Institute of
Certified Public Accountants of Singapore and holds a post-graduate Diploma in
Business Administration and Bachelor of Business Studies from the Massey
University of New Zealand.
Mr. MAK Tak Ming, Michael,
Regional Director, Hong Kong & Taiwan, Mr Michael Mak Tak Ming joined the
Group in June 2001 and is the Regional Director for Hong Kong and Taiwan; and
its General Manager for Hong Kong. He is
responsible for all aspects of the company’s business in the assigned
territory. Mr Mak began his career at
Epro System in1984 as an account manager.
He subsequently joined Digital Equipment Corporation in 1987 as a sales
account manager. Between 1990 and 2001,
he had served the Datacraft Asia Group in various positions including country
sales manager, assistant general manager and general manager. He holds a Master degree in Operational
Research, and a Bachelor of Science degree in Computer Science and Mathematics
from the University of London.
Mr. Emmy WU,
Executive Chairman, He has been serving as its Executive Chairman since June
2002. He is responsible for exercising
control over the quality and timeliness of the flow of information between the
board of Directors and the management of the Group. Mr Wu began his career at
the Mitsubishi-Ryoden Group in1982 where he was senior accounts executive. He left the Mitsubishi-Ryoden Group in 1986
to join Data General, initially as account manager, and later as PRC sales and
marketing manager. He was subsequently promoted to regional sales and marketing
manager for the PRC and Hong Kong. Mr Wu
left Data General in 1991 and joined the Datacraft Asia Group in a series of
positions, including general manager and managing director for Datacraft China
Limited, regional director for North Asia of Datacraft Asia Limited, sales
director for Datacraft Asia Limited and adviser to Datacraft Japan Limited. Mr
Wu has more than 20 years experience of doing business in China.
(Since September 2004)
|
Date |
Particulars |
Amount |
|
12-08-2004 |
Instrument: Running
Deed of Charge Property: All monies and deposits now or hereafter
in the time deposit account No. HK-266545383 kept by the company with Hang
Seng Bank Ltd. Mortgagee: Hang
Seng Bank Ltd., Hong Kong. |
To secure all monies & liabilities which are now or at any time hereafter
may be outstanding owing or payable by the company to Hang Seng Bank Ltd. |
|
10-08-2007 |
Instrument: Running
Deed of Charge Property: All monies and deposits now or hereafter in
the time deposit account No. HK-266545383 kept by the company with Hang Seng
Bank Ltd. Mortgagee: Hang
Seng Bank Ltd., Hong Kong. |
All monies & liabilities |
|
28-04-2009 |
Instrument: Charge
Over Securities (2-Party) Property: A) Any interests, right or
property owned by the company which, at any time and for any reason, are
transferred in the name of the Bank or any nominee or agent of the Bank and
stand to the credit of the company’s securities account number 266-545383 B) All dividends, interest,
distributions and other moneys derived therefrom C) All accretion, allotments,
and other benefits accruing or arising in respect thereof. D) All stock, securities,
moneys or property accruing or offered at any time E) All present and other party in respect of
any of the foregoing including any rights which the chargor may have to
require delivery by such clearance system or party of any of the foregoing to
or to the order of, the chargor. Mortgagee: Hang
Seng Bank Ltd., Hong Kong. |
To secure all monies in any currency owing by the company to the Bank
at any time |
|
06-07-2009 |
Instrument: Charge
Over Securities (2-Party) Property: A) Any interests, right or
property owned by the company which, at any time and for any reason, are transferred
in the name of the Bank or any nominee or agent of the Bank and stand to the
credit of the company’s securities account number 266-545383-382 B) All dividends, interest,
distributions and other moneys derived therefrom C) All accretion, allotments,
and other benefits accruing or arising in respect thereof. D) All stock, securities,
moneys or property accruing or offered at any time E) All present and other party in respect of
any of the foregoing including any rights which the chargor may have to
require delivery by such clearance system or party of any of the foregoing to
or to the order of, the chargor. Mortgagee: Hang
Seng Bank Ltd., Hong Kong. |
To secure all monies in any currency owing by the company to the Bank
at any time |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.62 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.