MIRA INFORM REPORT

Report No. :	499046.2
Report Date :	30.03.2018

IDENTIFICATION DETAILS

Name :	DIGITEK TELECOM
Registered Office :	Room 811, 8/F., Houston Centre, Mody Road, Tsimshatsui East, Kowloon
Country :	Hong Kong
Date of Incorporation :	26.08.2009
Com. Reg. No.:	51069956-000-08
Legal Form :	Sole Proprietorship
Line of Business :	Subject is engaged in Trading of Mobile Phone such as all kinds of mobile phones and accessories.
No. of Employees :	3

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Hong Kong	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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.

Source : CIA

Company name and address

DIGITEK TELECOM

Address: Room 811, 8/F., Houston Centre,

63 Mody Road, Tsimshatsui East,

Kowloon, Hong Kong.

COMPANY NAME AND ADDRESS

DIGITEK TELECOM

ADDRESS: Room 811, 8/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.

PHONE: 852-9464 4459, 3693 4113, 3693 4114, 3693 4114

FAX: 852-3521 0139

E-MAIL: gopal@digitektelecom.com

gtlmobile@biznetvigator.com

MANAGEMENT

Manager: Mr. Gopal Agarwal

SUMMARY

Establishment: 26th August, 2009.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Mobile Phone Trader.

Employee: 3.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

COMPANY NAME AND ADDRESS

DIGITEK TELECOM

ADDRESS:

Head Office:-

Room 811, 8/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.

Associated Companies:-

Digitek Remittance (Pvt) Ltd., Nepal.

Digitek Telecom Ltd., Hong Kong. (Same address)

KGR Enterprises, India.

BUSINESS REGISTRATION NUMBER: 51069956-000-08

MANAGEMENT

Manager: Mr. Gopal Agarwal

(Hong Kong Mobile: 852-9464 4459)

SOLE PROPRIETOR

Name: Mr. Gopal AGARWAL

Residential Address: Room A, 5/F., Union Mansion, 33-35 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was established on 26th August, 2009 as a sole proprietorship concern owned by Mr. Gopal Agarwal under the Hong Kong Business Registration Regulations.

At the very beginning, the subject was located at Room A, 5/F., Union Mansion, 33-35 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in October, 2009.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Mobile Phone Trader.

Lines: All kinds of mobile phones and accessories, etc.

Employee: 3.

Commodities Imported: China, other Asian countries, etc.

Markets: India, other Asian countries, etc.

Terms/Sales: L/C, T/T, etc.

Terms/Buying: Prepayment, L/C, etc.

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Made small profits in past years.

Condition: Business is normal.

Facilities: Adequate for current running.

Payment: No Complaints.

Commercial Morality: Satisfactory

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Digitek Telecom is a sole proprietorship set up and owned by Mr. Gopal Agarwal who is an Indian merchant.

He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He is also manager of the subject.

Gopal Agarwal has been in Hong Kong for a very long time before setting up the subject. He can be reached at his Hong Kong mobile phone number 852‑9464 4459.

The subject is a mobile phone trader. It has registered with the Office of the Communications Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of RU00134166-RU.

Products are chiefly sourced from Shenzhen Special Economic Zone, China.

In the late 90’s Gopal Agarwal was the partner of the following two companies:

Galaxmial Telecom Ltd.

Galaxmial Predera Trading (H.K.) Co. Ltd.

Both companies were mobile phone traders. However, both companies have ceased business for a long time.

The subject’s products are exported to India, Nepal, the Middle East, etc. It is the distributor of all various brands of mobile phones such as iPhone, Samsung, Alcatel, iPad, and other branded accessories.

The business of the subject is normal. Business is chiefly handled by Gopal Agarwal himself. History in Hong Kong is over eight years and seven months.

On the whole, consider the subject good for normal business engagements.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.04
UK Pound	1	INR 92.28
Euro	1	INR 80.62
HKD	1	INR 8.30

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	DNS

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.