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Report No. : |
324295 |
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Report Date : |
29.05.2015 |
IDENTIFICATION DETAILS
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Name : |
BBPOS LTD. |
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Registered Office : |
Suite 1602, 16/F., Tower 2, Nina Tower, 8 Yeung Uk Road, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.12.2008 |
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Com. Reg. No.: |
50136421 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designer and Trader of All kinds of POS terminal and payment solutions |
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No of Employees : |
20 |
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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
BBPOS LTD.
ADDRESS: Suite 1602, 16/F., Tower 2, Nina Tower, 8
Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong.
PHONE: 852-3158 2585
FAX: 852-3158 2586
E-MAIL: mail@bbpos.com
Managing Director: Mr. Chan Wing
Cheong
Incorporated on: 23rd December, 2008.
Organization: Private Limited
Company.
Issued Share Capital: HK$11,632,150.00
Business Category: Electronic
Product Designer and Trader.
Employees: 20.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BBPOS LTD.
Registered Head Office:-
Suite 1602, 16/F., Tower 2, Nina Tower, 8 Yeung Uk Road, Tsuen Wan, New
Territories, Hong Kong.
China Factory:-
Dongguan, Guangdong Province, China.
Regional Offices:-
United States (San Francisco & Miami), United Kingdom (London),
Singapore, China (Shanghai).
Associated Company:
BBPOS Corp., United States.
50136421
1296567
Managing Director: Mr. Chan Wing
Cheong
Chief Technical Officer: Mr. Lo
Chi Wah, Ben
HK$11,632,150.00
(As per registry
dated 23-12-2014)
|
Name |
No. of shares |
|
CHAN Wing Cheong |
750 |
|
Michael Prados Hollinger |
5,500 |
|
LO Chi Wah |
32,750 |
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Michael Cooperstone |
200 |
|
Geka Industrial (HK) Ltd., Hong Kong. |
150 |
|
Bruce Munro |
100 |
|
Bruce Munro Real Estate Inc. 4900 Cote Saint Luc Road, Apt 611, Montreal Quebec, H3W 2H3. |
100 |
|
Brand Appeal Inc. 44 Edgewood Dollard Des Ormcaux, Quebec, Canada H9A 3K6. |
80 |
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iGotcha WiFi Media Inc. 4000 St-Ambroise, Suite 295, Montreal, Quebec, Canada, H4C 2C7. |
50 |
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Jeffrey Budning |
50 |
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Gerald Bernstein |
30 |
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Joann Casseres |
30 |
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ArGil Property Tax Services Paralegal Professional Corporation 367 Rimrock Road, Toronto, ON, Canada, M2J 3C6. |
30 |
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Richard Ullman |
20 |
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Irene Kron |
20 |
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9133-5117 Quebec Inc. 6528 Chemin Aldrin, Cote St Luc, Quebec, Canada, H4W 3B9. |
20 |
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Pearl Nutkevitch |
20 |
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Etan Jagermann |
20 |
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Bruce Isenberg |
10 |
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Carl Kleinberg |
10 |
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Michael Frank |
10 |
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Anthony Lewis |
10 |
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Andrew Skinner |
10 |
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Janice HO |
10 |
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Joan Zafran |
10 |
|
Earl Azimov |
10 |
|
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‑‑‑‑‑‑‑‑‑ |
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40,000 ===== |
(As per registry
dated 23-12-2014)
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Name (Nationality) |
Address |
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CHAN Wing Cheong |
Flat B, 4/F., 31 Chi Kiang Street, Tokwawan, Kowloon, Hong Kong. |
(As per registry
dated 23-12-2014)
|
Name |
Address |
Co. No. |
|
ABS Ltd. |
Unit 1603, 16/F., Fortress Tower, 250 King’s Road, North Point, Hong
Kong. |
1056017 |
The subject was incorporated on 23rd December, 2008 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at ‘Unit 812, 8/F., Grand City Plaza,
1-17 Sai Lau Kok Road, Tsuen Wan, New Territories, Hong Kong’,
moved to the present address in August 2014.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Electronic
Product Designer and Trader.
Lines: All
kinds of POS terminal and payment solutions, etc.
Employees: 20.
Commodities Imported:Europe, US, etc.
Markets: Hong
Kong, other Asian countries, Europe, North America, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
THALES (France)
ANYWHERE COMMERCE (Canada)
mSwipe (India)
Etisalat (UAE)
Issued Share Capital: HK$11,632,150.00
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: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 1,000 ordinary shares of HK$1.00 each, BBPOS Ltd. [BBPOS] formerly
was jointly owned by Mr. Chan Wing Cheong, holding 75.0% interests; Mr. Michael
Prados Hollinger, holding 12.5%; Mr. Eric L. Weller, also 12.5%.
Since January 2014, its issued share capital has been increased from
HK$1,000.00 to HK$11,632,150.00. BBPOS
is now jointly owned by a group of Hong Kong and Canadian merchants of
which Mr. Lo Chi Wah, Ben is the majority shareholder holding about 82%
interest. The Executive Director is Mr.
Chan Wing Cheong. He is a Hong Kong
merchant. He is also the only director
of the subject.
BBPOS is a payment technology company dealing as a mobile Point of Sale
(POS) solution provider. It is engaged
in the design, engineer, develop, manufacture and sale of end-to-end Mobile POS
solutions to all sectors including Mobile Merchant, Retail, Hospitality,
Delivery, Transport and Government. Its
products, software and solutions are used by consumers and merchants in the
globe to facilitate mCommerce payments.
Its one-stop-shop service provides various services from design and
manufacturing to software, transaction processing and packaging, ensuring its
customers receive the high quality, fully certified solution to take their
business further.
BBPOS is the inventor and the first producer of Audio Jack-based mPOS
terminals. With a family of products
supported by a portfolio of perpetually licensed, pending and issued patents,
BBPOS is the world leader, measured in production volume, of mPOS devices.
In recent years, BBPOS has applied various patents for its products of
which the issued patents include:-
Debit or credit card data transaction methods and devices (14/04/2011);
Debit and credit card transaction device (27/10/2011);
Power management circuitry in peripheral accessories of audio devices
(22/11/2012);
System for controlling audio frequencies of electronic appliances and a
method of the same (16/01/2014);
Detecting the ground and microphone input contacts in an audio plug
(16/01/2014);
Mounting a magnetic card reader head onto a card reader (23/01/2014);
Pin entry on mobile devices (12/06/2014);
Magnetic stripe reader with card swipe information feedback
(07/08/2014);
A secure display module (14/08/2014);
Secure pairing of blue-tooth devices (02/10/2014).
All the manufacturing activities are carried out in China where it has a
factory in Dongguan City in Guangdong Province.
BBPOS was awarded ISO9001: 2008 certification by SGS. Major markets include Hong Kong, China, North
America, and Europe. It is now expanding
to South East Asia, Central and South America, etc.
The principal shareholder, Mr. Lo Chi Wah, Ben is also the Chief
Technical Officer of BBPOS. Ben is
responsible for the design and production of current and emerging POS hardware
and software at BBPOS. Ben has been
pushing the boundaries of POS innovation since the first Mobile POS device in
China back in 2000. Committed to
broadening the application of and accessibility to new transaction
technologies, he has authored a number of patents and notable publications in
the mobile payment space.
BBPOS now has business partners and clients located at different parts
of the world including the United States, Canada and China. It is expanding its business to countries in
South East Asia, Central and South America, etc. Business is rather active.
As the history of BBPOS is over six years and five months in
Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.90 |
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|
1 |
Rs. 98.16 |
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Euro |
1 |
Rs. 69.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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.