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Report No. : |
348886 |
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Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
EXPRESS LUCK
INTERNATIONAL CO. LTD. |
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|
|
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Registered Office : |
Workshop 07, 17/F., Block B, New Trade Plaza, 6 On Ping Street,
Shatin, New Territories |
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|
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Country : |
Hong Kong |
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Date of Incorporation : |
20.11.2009 |
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|
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Com. Reg. No.: |
51466736 |
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Legal Form : |
Private Limited Company |
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|
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND MANUFACTURER SMART LED TV, 3D LED TV, LED TV, 4K2K
TV. |
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|
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No. of Employee : |
8. |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
EXPRESS LUCK INTERNATIONAL CO. LTD.
ADDRESS: Workshop 07,
17/F., Block B, New Trade Plaza, 6 On Ping Street, Shatin, New Territories,
Hong Kong.
PHONE: 852-2757 0823
FAX: 852-2757 0829
MANAGEMENT:
Managing Director: Mr. Hui Siu
Bun
Incorporated on: 20th November,
2009.
Organization: Private Limited
Company.
Issued Share Capital: HK$1.00
Business Category: Importer, Exporter
and Manufacturer.
Employees: 8.
Main Dealing Banker: DBS Bank (Hong
Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Workshop 07, 17/F., Block B, New Trade Plaza, 6 On Ping Street, Shatin,
New Territories, Hong Kong.
Associated
Companies:-
Express Luck Industrial (Shenzhen) Ltd.
88, Baotong Road (South), Xikeng, Henggang Town, Longgang District,
Shenzhen Special Economic Zone, China.
[Tel: 86-755-8973 9888, Fax:
86-755-8973 9666
E-mail: sales@expressluck.com
(marketing) ]
Elux International Inc., US.
Express Luck (HK) Ltd., Hong Kong.
Express Luck Industrial Ltd., Hong Kong.
(Same address)
Shenzhen Express Luck Logistics Co. Ltd., China.
51466736
1393650
Managing Director: Mr. Hui Siu
Bun
HK$1.00
(As per registry dated 20-11-2014)
|
Name |
|
No. of share |
|
HUI Siu Bun |
|
1 = |
(As per registry dated 20-11-2014)
|
Name (Nationality) |
Address |
|
HUI Siu Bun |
Workshop 07, 17/F., Block B, New Trade Plaza, 6 On Ping Street,
Shatin, Hong Kong. |
(As per registry dated 20-11-2014)
|
Name |
Address |
Co. No. |
|
KSL Secretaries Ltd. |
Unit 1003, 10/F., Rightful Centre, 12 Tak Hing Street, Kowloon, Hong Kong. |
0626678 |
The subject was incorporated on 20th November, 2009 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 Manufacturer.
Lines: Smart LED TV, 3D
LED TV, LED TV, 4K2K TV
Brand Names: Contex, Sparko.
Employees: 8.
Commodities Imported: China, other Asian
countries
Markets: China, Japan, other
Asian countries, Europe, North America
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P
Issued Share Capital: HK$1.00
Mortgage or Charge (since 2012):
(See attachment)
Profit or Loss: Made a very small
profit in 2013.
Condition: Business is
improving.
Facilities: Making fairly
active use of general banking facilities.
Payment: Met trade
commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
DBS Bank (Hong Kong) Ltd., Hong Kong.
Australia & New Zealand Banking Group Ltd., Hong Kong Branch.
Hang Seng Bank Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued just one ordinary share of HK$1.00, Express Luck
International Co. Ltd. is wholly owned by Mr. Hui Siu Bun who is a
Hong Kong merchant. He is also
director of the subject.
The subject has had an associated company Express Luck Industrial (Shenzhen)
Ltd. [Express Luck] which was established in 1997. Express Luck is located in Longgang District,
the east of Shenzhen Special Economic Zone, China.
Express Luck integrates development, designing, manufacturing, and sales
of its products. It has become a
large-scale science & technology corporation, and has been recognized as a
National High-Tech Enterprise by the Ministry of Science and Technology of the
PRC. Its factory in Shenzhen SEZ covers
an area of over 100,000 square meters.
It also has a number of associated production bases in the United
States, Romania, India, etc. In total,
the Express Luck Group has about 2,000 worldwide.
Its main products are Smart LED TV, 3D LED TV, LED TV, 4K2K TV and so
on. It also owns more than 50 patents.
Its brands include Cai Xun, Candice, Sansui, SAIKYO, etc.,
more than 95% of products are exported to more than 60 countries and regions of
the world. Its main customers are Wal
Mart, Carrefour, JVC, best buy, modern, etc., all which are renowned both at home
and abroad. Other main customers are
Samsung, LG, Sony, Innolux, Huaxing Power, BOE
Express Luck has got the following certifications: ISO9001, ISO14001,
OHSAS18001, GSV, CCC, CE, UL, FCC, FDA, TUV, GS, fi, ETL, WEEE, BV
According to the subject, Express Luck enjoys a high prestige and good
reputation both in Hong Kong and China TV industry.
Express Luck owns the production workshops of top dust-free backlight,
where the core components such as the backlight panels and LED modules are
developed and produced by itself. Its
annual production capacity of LED TV reaches 3 million units.
In order to penetrate the international market further, Express Luck has
taken part in fairs and exhibitions held in Hong Kong and other foreign large
cities. For instance, it is going to
take part in Hong Kong Electronics Fair (Autumn Edition) which will be held in
Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the
period of 13th to 16th October, 2016.
The annual sales turnover of Express Luck amounts to RMB1.0 to 1.5
billion Yuan.
As the history of the subject is about six years in Hong Kong, on the
whole, consider it good for normal business engagements.
(Since 2012)
|
Date |
Description of Instrument |
Mortgagee |
|
05-10-2012 |
Charge Over Deposit |
Australia & New Zealand Banking Group Ltd., Hong Kong Branch. |
|
21-11-2012 |
Security Agreement over Bank Account (All Moneys) |
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
|
02-01-2013 |
Charge over Deposits/Securities |
Hang Seng Bank Ltd., Hong Kong. |
|
08-07-2013 |
Charge over Deposits/Securities |
Hang Seng Bank Ltd., Hong Kong. |
|
09-10-2013 |
Charge on Cash Deposit(s) to secure Liabilities of the Depositor(s) |
DBS Bank (Hong Kong) Ltd., Hong Kong. |
|
31-03-2015 |
Security Agreement Over Securities (All Moneys) |
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
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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 |
|
<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.