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MIRA
INFORM REPORT
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Report No. : |
499829 |
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Report Date : |
29.03.2018 |
IDENTIFICATION DETAILS
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Name : |
FINELINE TECHNOLOGIES LLC LIMITED |
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Formerly Known As : |
BLOOM TECH LTD. |
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Registered Office : |
Flat G, 3/F., Wang
Kwong Industrial Building, 45 Hung To Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.07.2003 |
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Com. Reg. No.: |
33931848 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Trader of Barcode
ticketing solutions, related products |
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No. of Employees : |
16 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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 aided a more rapid initial recovery 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 9.4% of total system deposits in Hong Kong by the end of 2015. 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. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. 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, which took effect in 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.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 2.6% in 2016, but slowed to 2.0% in 2017. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities. In 2017, Chief Executive Lam announced plans to increase government spending on research and development, education, and technological innovation with the aim of spurring continued economic growth through greater sector diversification.
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Source : CIA |
Company name and address
FINELINE TECHNOLOGIES
LLC LIMITED
ADDRESS: Flat G, 3/F., Wang Kwong
Industrial Building, 45 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2156
9788
FAX: 852-2156
9166
E-MAIL: support@finelinetech.com.hk
MANAGEMENT
Managing
Director: Ms. Kwok Choi Yung
SUMMARY
Incorporated on: 2nd
July, 2003.
Organization: Private
Limited Company.
Issued Share Capital: HK$100.00
Business Category: Barcode Product Trader.
Employees: 16.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Banking
Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Flat G, 3/F., Wang
Kwong Industrial Building, 45 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
Holding Company:-
Fineline Technologies
Inc., US.
China Associated
Company:-
Shenzhen Fineline
Barcode Technologies LLC
1-3/F., Block D,
Huichiao Industrial Park, Gushu Second Road, Xixiang, Bao’an District, Shenzhen
SEZ, China.
[Tel: 86-755-2650
1338 – 8001; Fax: 86-755-1650 1699]
Other Associated
Companies:-
Data2 Corporation,
USA.
Ferm RFID Solutions
B.V., Netherlands.
Fineline Bar-Code
Technologies Inc., Canada.
Fineline Technologies
B.V., Netherlands.
BUSINESS REGISTRATION NUMBER
33931848
COMPANY FILE NUMBER
0851771
MANAGEMENT
Managing
Director: Ms. Kwok Choi Yung
Contact Person: Mr.
Charlie White
ISSUED SHARE CAPITAL
HK$100.00
SHAREHOLDER
(As per registry
dated 02-07-2017)
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Name |
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No. of shares |
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Fineline
Technologies Inc. 3145 Medlock Bridge
Road, Norcross, GA 30071. |
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100 === |
DIRECTORS
(As per registry
dated 02-07-2017)
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Name (Nationality) |
Address |
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KWOK Choi Yung |
Flat E, 41/F.,
Block 5, Nan Fung Plaza, 8 Pui Shing Road, Tseung Kwan O, New Territories,
Hong Kong. |
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David Carl ANTONINI |
401 Knollside
Drive, Blythewood, SC 29016, U.S. |
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George Kevin
HOFFMAN |
431 Big Indian
Loop, Mooresville, NC 28117, U.S. |
SECRETARY
(As per registry
dated 02-07-2017)
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Name |
Address |
Co. No. |
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Reachtop
Registrations Ltd. |
Room 2808, 28/F.,
Asia Trade Centre, 79 Lei Muk Road, Kwai Chung, New Territories, Hong Kong. |
1438692 |
HISTORY
The subject was
incorporated on 2nd July, 2003 as a private limited liability company under the
Hong Kong Companies Ordinance.
Originally the
subject was registered under the name of Bloom Tech Ltd., name changed to the
present style on 10th September, 2003.
Its Chinese name was
formally registered on 6th April, 2004.
Formerly the subject
was located at ‘Unit A, 10/F., Manning Industrial Building, 116-118 How
Ming Street, Kwun Tong, Kowloon, Hong Kong’, moved to the present address in
June 2016.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Barcode
Product Trader.
Lines: Barcode
ticketing solutions, related products.
Employees: 16.
Commodities Imported: China, Europe, US, etc.
Markets: Hong
Kong, other Asian countries, Europe, North America, etc.
Terms/Sales: As
per contracted.
Terms/Buying: Various
terms.
FINANCIAL INFORMATION
Issued Share Capital:
HK$100.00
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: Regular.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
GENERAL
Having issued 100
ordinary shares of HK$1.00 each, Fineline Technologies LLC Limited is a
wholly-owned subsidiary of Fineline Technologies Inc. [FTI] which is a US-based
company.
The subject is
trading in the same commodities as FTI.
FTI provides barcode
ticketing solutions for retailers, suppliers, and manufacturers around the
world. It offers integrated tickets for
private label branding, such as labels, hang tags, pocket flashers, joker tags,
size strips, carton labels, promotional tags, etc.; specialty tags and labels,
which include transfer, woven labels, leather patches, and other thin package
items; products for barcode creation and verification; and retailer tickets,
such as FastTrak, tickets/tags/labels, private label branding, specialty tags
and labels, Colorsync, retailer tickets, and e-Codes.
The company also
provides media products, such as label stock and ribbons; printers and
verifiers; and pre-press software solutions for creating barcodes and counts
for printing, plate making, graphic arts, pharmaceuticals, consumer products,
and couponing industries.
In addition, it
offers SymArt 8 software, a barcode generation software program; SymArt SVT for
barcodes standards; SymArt DVT 3.0 for pre-press proofing and barcode
verification; SymArt Coupon Creator 8 (GS1 Databar) for coupon creation; SymArt
8 technology, a solution for creating ISBN barcodes; SymArt Express 8, a
barcode creation software; and SymArt Databar, a technology that allows users
to create digitally verifiable codes.
Further, FTI provides
in-store mobile merchandising solutions for retailers and brands; Internet
based solutions for order processing, tracking, and management; specialty tags
and labels, heat transfer tagless labels, and printed and woven fabric labels;
and specialty items, which include eco-friendly items, leather or rubber
patches, and buttons. Furthermore, it
offers consulting services in areas, such as barcoding, in-house ticketing, and
RFID.
FTI was founded in
1998 and is based in Norcross, Georgia.
It owns and operates facilities in the United States, Canada, and
Shenzhen SEZ of China apart from the subject.
FTI’s associated
company in China is known as Shenzhen Fineline Barcode Technologies LLC which
is in Shenzhen Special Economic Zone, China.
The Shenzhen Company was set up in 2006.
Its factory covers an area of about 3,500 sq.m. and has about 80
employees. The contact person is Ms.
Zhao who is a China citizen.
The products of the
Shenzhen factory are exported and marketed by the subject in Hong Kong. Business is active.
FTI has gone from a
small team with 50 clients to a global powerhouse with over 20,000 customers
and keeps on growing.
One of the directors
is George Kevin Hoffman. He is the
Chairman and CEO of FTI. George K
Hoffman is an industry veteran with over 30 years of experience servicing
global apparel retailers and brands.
George Hoffman is focused on being the world’s largest service bureau
provider. He headed up the Group’s
expansion into new retail channels such as outdoor, sporting, e-commerce, and
housewares.
Moving forward,
leadership is also focused on building out value for event management
entertainment companies, theme parks, stadiums, museums, and RFID software
integrators. The Group is a provider who
can print and ship RFID badges and credentials in the shortest possible
timeframe, usually with 36-48 hours.
The contact person of
the subject Mr. Charlie White is an American.
As the history of the
subject is over fourteen years and eight months in Hong Kong, on the
whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.04 |
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1 |
INR 92.28 |
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Euro |
1 |
INR 80.62 |
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HKD |
1 |
INR 8.30 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.