|
|
|
MIRA
INFORM REPORT
|
Report No. : |
509322 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GSIGHT INTERNATIONAL LIMITED |
|
|
|
|
Registered Office : |
Room C, 19/F., Lockhart Centre, 301-307
Lockhart Road, Wanchai, Hong Kong. |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
10.09.2012 |
|
|
|
|
Com. Reg. No.: |
60339926 |
|
|
|
|
Legal Form : |
Private Limited Liability |
|
|
|
|
Line of Business : |
Not Available [We tried to confirm / obtain
the detailed activity but the same is not available from any sources] |
|
|
|
|
No. of Employees : |
No employees in Hong Kong Note: It is to be noted that
the company does not have its own operating office in Hong Kong. The company
uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong
Kong. Such companies are registered in Hong Kong just to tax benefit purpose
and due to the strict privacy laws prevailing in the country. In such cases,
the companies are not required to have any employees in Hong Kong nor do have
an office there. |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
No operating office in Hong Kong |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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.
Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly. The lower and middle-income segments of the population increasingly find housing unaffordable.
Hong Kong's open economy has left it exposed to the global economic situation. Its continued reliance on foreign trade and investment makes it vulnerable to renewed global financial market volatility or a slowdown in the global economy.
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 surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. After peaking in 2014, overall tourist arrivals dropped 2.5% in 2015 and 4.5% in 2016. The tourism sector rebounded in 2017, with visitor arrivals rising 3.2% to 58.47 million. Travelers from Mainland China totaled 44.45 million, accounting for 76% of the total.
The Hong Kong Government is promoting the Special Administrative Region (SAR) as the preferred business hub for 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, RMB trade settlement is allowed, and investment schemes such as the Renminbi Qualified Foreign Institutional Investor (RQFII) Program was first launched in Hong Kong. Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 trillion RMB at the end of 2014 to 559 billion RMB at the end of 2017, while RMB trade settlement handled by banks in Hong Kong also shrank from 6.8 trillion RMB in 2015 to 3.9 trillion RMB in 2017.
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 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 66% 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 (CEPA), 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. On the basis of the Guangdong Agreement, the Agreement on Trade in Services signed in November 2015 further enhanced liberalization, including extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland, reducing the restrictive measures in the negative list, and adding measures in the positive lists for cross-border services as well as cultural and telecommunications services. In June 2017, the Investment Agreement and the Agreement on Economic and Technical Cooperation (Ecotech Agreement) were signed under the framework of CEPA.
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 Hong Kong- Shenzhen Stock Connect the Mutual Recognition of Funds, and the Bond Connect scheme are all important steps towards opening up the Mainland’s capital markets and have reinforced Hong Kong’s role as China’s leading offshore RMB market. Additional connect schemes such as ETF Connect (for exchange-traded fund products) are also under exploration by Hong Kong authorities. In 2017, Chief Executive Carrie 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 |
Note
(Formerly located at:
c/o Power Point International Co Ltd.
Room 1702, 17/F., Sino Centre,
582-592 Nathan Road, Mongkok,
Kowloon, Hong Kong.)
Company name and address
GSIGHT INTERNATIONAL
LIMITED
ADDRESS
Registered Office:-
c/o Joy Enterprise Secretary Services Ltd.
Room C, 19/F., Lockhart Centre, 301-307
Lockhart Road, Wanchai, Hong Kong.
Associated
Company:-
Tianjin Gsight Technology Co. Ltd.
8th Floor, No.1 Gate, Block B, Friendship
Building, Friendship Road, Hexi District, 300061 Tianjin, China.
[Tel: 022-2836
2016
Fax: 022-2836
2019
E-mail: info@gsight.com]
BUSINESS REGISTRATION NUMBER
60339926
COMPANY FILE NUMBER
1798203
DATE OF INCORPORATION
10th
September, 2012.
ISSUED SHARE CAPITAL
HK$100.00
SHAREHOLDER
(As per registry dated 10-09-2017)
|
Name |
|
No. of shares |
|
JIA Weihua |
|
100 === |
DIRECTOR
(As per registry dated 10-09-2017)
|
Name (Nationality) |
Address |
|
JIA Weihua |
No. 302, Gate 1, Block A, Cuihu Hot Spring
Garden, Xiaguang Road, Nankai District, Tianjin, China. |
SECRETARY
(As per registry dated 10-09-2017)
|
Name |
Address |
Co. No. |
|
Joy Enterprise Secretary Services Ltd. |
Room C, 19/F., Lockhart Centre, |
1336601 |
HISTORY
The company was incorporated on 10th
September, 2012 as a private limited liability company under the Hong Kong
Companies Ordinance.
Formerly the subject’s registered address was
located at ‘Room 1702, 17/F., Sino Center, 582-592 Nathan Road, Mongkok,
Kowloon, Hong Kong’ where was the operating address of a commercial service
provider known as Power Point Secretaries Ltd.
The subject moved its registered address to the present address in
September 2016 as it has changed its commercial service provider since then.
Apart from these, neither material change nor
amendment has been ever traced and noted.
GENERAL
Gsight International Limited was incorporated
on 10th September, 2012 as a private limited liability company.
The subject does not have its own operating
office. Its registered office is in a
commercial service firm located at ‘Room C, 19/F., Lockhart Centre,
301-307 Lockhart Road, Wanchai, Hong Kong’ known as ‘Joy Enterprise Secretary
Services Ltd.’ which is handling its correspondences and documents.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong
Kong, the subject has issued 100 ordinary shares of HK$1.00 each which are
wholly-owned by Ms. Jia Weihua who is a China businesswoman.
She is a China passport holder and does not
have the right to reside in Hong Kong permanently. She is also the only director of the
subject. Her registered address is in
Tianjin, China.
The subject has had an associated company in
Tianjin, China known as Tianjin Gsight Technology Co. Ltd. [Gsight].
The subject has become one of the key members
of Gsight Group. The brief information
of Gsight is as follow:
Name:
Gsight
Address:
8/F., First Door, Block B, Friendship Building, Friendship Road, Hexi
District, Tianjin, China.
Phone:
86-22-2836 2016
Fax:
86-22-2836 2019
Date of incorporation: 27th February, 1999.
Legal Status: Limited Liability Company (owned by natural
person)
Registered Capital: US$2 million
Annual Turnover: US$30 – 50 million
Gsight is one of the experienced and
professional companies which is supporting the global ISO card manufacturing industry. Gsight has been equipped with advanced card
material manufacturing machinery and equipment in China.
Gsight is trading in the following products:-
General Materials:
PVC Core;
PVC Overlay;
PETG Core;
PETG Overlay;
PVC Coated Overlay;
PETG Coated Overlay;
ABS Core; &
ABS Injection Moulding Card;
Special Materials:
PC Overlay;
PC Core;
PC Co-extrude Laserable Overlay; &
PC/PETG Co-extrude Laserable Overlay.
Gsight’s products are widely used in
manufacturing Banking Cards, Commercial Cards, SIM Cards, Inlays, etc.
According to Gsight, its market shares in
Banking Cards and SIM Cards account for 80% in China.
Gsight exports its products to North America,
Western Europe, Eastern Europe, South America, Southeast Asia, Eastern Asia,
the Middle East, Oceania, Africa, etc.
Now, Gsight’s has associated service centres
in large cities in China such as Beijing, Shanghai, Shenzhen Special Economic
Zone, Wuhan, Zhuhai Shenzhen Special Economic Zone, etc.
Gsight is also the sole agent in China of the
following companies:
Oasys of the UK, Cardel Co. of the UK, Beyond
of Israel, Wolfen of Germany, etc.
In 2009, Gsight developed business
relationship with Edale Ltd., a famous Flexo Printing Press Manufacturer in
order to introduce the advanced equipment and solutions of RFID products as
well as label printing, security printing, variable digital information
processing, for the contribution of RFID industry in China.
Ms. Jia Weihua is also the general manager of
Tianjin Gsight. Most of the time, she is
in Tianjin.
The subject’s business in Hong Kong is not
active. History in Hong Kong is over
five years and eight months.
On the whole, since the subject does not have
its own operating office and has no employees in Hong Kong, consider it good
for business engagements on L/C basis or in very small credit amounts.
Note
It is to be noted that the company does not have its own operating
office in Hong Kong. The company uses the address of its secretariat as its
correspondence address only. Subject operates from some other country and does
not have a base in Hong Kong. Such companies are registered in Hong Kong just
to tax benefit purpose and due to the strict privacy laws prevailing in the
country. In such cases, the companies are not required to have any employees in
Hong Kong nor do have an office there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.72 |
|
|
1 |
INR 91.65 |
|
Euro |
1 |
INR 79.89 |
|
HKD |
1 |
INR 8.66 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KET |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.