MIRA INFORM REPORT

 

 

Report Date :           

16.06.2011

 

IDENTIFICATION DETAILS

 

Name :

JUNIPER  NETWORKS  (HONG  KONG)  LTD.

 

 

Registered Office :

26/F., Cityplaza One, 1111 King’s Road, Taikoo Shing

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

29.03.1994

 

 

Com. Reg. No.:

18046664

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Telecommunication Service Provider of  Electronic products, telecommunication equipment, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

JUNIPER  NETWORKS  (HONG  KONG)  LTD.

 

 

Company ADDRESS

 

26/F., Cityplaza One, 1111 King’s Road, Taikoo Shing, Hong Kong.

PHONE:            2332 3636

FAX:                 2574 7803

 

 

MANAGEMENT

 

Managing Director:  Mr. Stephen Patrick Byrne

 

 

SUMMARY

 

Incorporated on:             29th March, 1994.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$500,000.00

Issued:              HK$500,000.00

 

Business Category:        Telecommunication Service Provider.

 

Group Net Revenues:  US$4,093,266,000  (Year ended 31-12-2010)

 

Employees:                   40.  (Hong Kong only)

 

Main Dealing Banker:     Bank of America N.A., Hong Kong Branch.

 

Banking Relation:           Good.

Company ADDRESS

 

Registered Head Office:-

26/F., Cityplaza One, 1111 King’s Road, Taikoo Shing, Hong Kong.

 

Holding Company:-

Juniper Networks (Cayman) Ltd., Cayman Islands.

 

Ultimate Holding Company:-

Juniper Networks Inc., USA.

 

Associated Companies:-

Juniper Networks Group of Companies

Altor Networks Inc., USA.

Ankeena Networks Inc., USA.

Juniper Networks (US) Inc., USA.

Juniper Networks Ireland Ltd., Ireland.

SMobile Systems Inc., USA.

Trapeze Networks Inc., USA.

etc.

 

 

BUSINESS REGISTRATION NUMBER

 

18046664

 

 

COMPANY FILE NUMBER

 

0472166

 

 

MANAGEMENT

 

·         Senior Vice President (General Counsel & Secretary):  Mr. Mitchell Lee Gaynor

·         Managing Director:  Mr. Stephen Patrick Byrne

·         General Manager:  Mr. Cheung Lap Yin, Charles

 

 

CAPITAL

 

Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$500,000.00

 

SHAREHOLDER

(As per registry dated 29-03-2011)

 

Name

 

No. of shares

Juniper Networks (Cayman) Ltd.

c/o Chartered Trust Services Ltd., P.O. Box 1034 GT, 1 Capital Place, Grand Cayman, Cayman Islands, British West Indies.

 

500,000

======

 

DIRECTORS

(As per registry dated 29-03-2011)

 

Name

(Nationality)

 

Address

Stephen Patrick BYRNE

17428 Alisa Court, Morgan Hill, CA 95037, USA.

 

Mitchell Lee GAYNOR

618 Lombardy Way, Emerald Hills, California, USA.

 

SECRETARY 

(As per registry dated 29-03-2011)

 

Name

Address

Co. No.

B. & McK. Nominees Ltd.

Room 1401, 14/F., Hutchison House, 10 Harcourt Road, Hong Kong.

0054552

 

 

HISTORY

 

The subject was incorporated on 29th March, 1994 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Pacific Advantage Ltd., name changed to the present style on 11th February, 2000.

Formerly the subject was located at Suite 1601-1606, 16/F., Nat West Tower (now known as RBS Tower), Times Square, 1 Matheson Street, Causeway Bay, Hong Kong, moved to the present address in October 2007.

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

 

OPERATIONS

 

Activities:                      Telecommunication Service Provider.

 

Lines:                           Electronic products, telecommunication equipment, etc.

 

Employees:                   40.  (Hong Kong only)

 

Commodities Imported:   Europe, US, etc.

 

Business Territories:      Worldwide.

 

Group Net Revenues:     US$3,572,376,000  (Year ended 31-12-2008)

US$3,315,912,000  (Year ended 31-12-2009)

US$4,093,266,000  (Year ended 31-12-2010)

 

Terms/Services:             As per contracted.

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$500,000.00

 

Group Net Income:         US$511,749,000  (Year ended 31-12-2008)

US$116,999,000  (Year ended 31-12-2009)

US$618,402,000  (Year ended 31-12-2010)

 

Profit or Loss:                Making a profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Bank of America N.A., Hong Kong Branch.

 

Standing:                      Good.

 

GENERAL

 

Juniper Networks (Hong Kong) Ltd. is a Juniper Networks (Cayman) Ltd. which is a Cayman Islands-registered firm.  The ultimate holding company of the subject Juniper Networks Inc. [Juniper Networks] is a US-based firm.

The subject is engaged in the same lines of business as Juniper Networks.

Juniper Networks is a network merchant.  It is leading the charge to architecting the new network.  It offers a high-performance network infrastructure built on simplicity, security, openness, and scale.  It is innovating in ways that empower its customers, its partners, and ultimately everyone in a connected world.  Its products and technologies run the world’s largest and most demanding networks today, enabling its customers to create value and accelerate business success within the new, rapidly changing global marketplace.  Its customers include the top 130 global service providers, 96 of the Global Fortune 100, as well as hundreds of federal, state and local government agencies and higher education organizations throughout the world.

As a pure play, high-performance networking company, the Juniper Networks Group offers a broad product portfolio that spans routing, switching, security, application acceleration, identity policy and control, and management designed to provide unmatched performance, greater choice, and true flexibility, while reducing overall total cost of ownership.  In addition, through strong industry partnerships, Juniper Networks is fostering a broad ecosystem of innovation across the network.

Juniper Networks went public on 25th June, 1999.  It was one of the most successful initial public offerings in history.

Since this auspicious beginning, Juniper Networks has continued to grow and innovate, releasing new product, developing new technologies based on customers’ needs, and remaining at the forefront of high-performance networking.

The followings are the technology milestones of Juniper Networks since 2009:-

2009

October

Introduced Junos Trio chipset and revolutionary 3D scaling technology with launch of MX Series 3D Universal Edge Routers

2010

October

Introduced the Junos Pulse Mobile Security Suite, comprehensive security software for protecting mobile devices

2011

February

Introduced the vGW Virtual Gateway, virtualized security solution for private and public clouds

2011

February

Unveiled the QFabric™ solution, the world’s first true data center fabric

2011

March

Unveiled the industry’s first Converged Supercore switch, the PTX Series Packet

 

Juniper Networks has invested significant time and resources in creating a research and development [R&D] process that brings its product concepts and development projects to market.  Juniper Networks’ continued investment in R&D allows it to deliver a broad range of products and services to customers in target markets.  Juniper Networks invests more in R&D as a percentage of revenue than industry peers, enabling it to introduce disruptive architectures, platforms, and solutions that add significant value for its customers.

Since 2010, Juniper Networks has complemented it “organic R&D” with the following acquisitions:-

·         February 2011 — Brilliant Telecommunications

·         December 2010 — Altor Networks

·         November 2010 — Blackwave

·         November 2010 — Trapeze Networks

·         July 2010 — SMobile Systems

·         April 2010 — Ankeena Networks

For the year ended 31st December, 2010, the net revenues of the Juniper Networks Group amounted to US$4,093,266,000, grew by 23.4% as compared with US$3,315,912,000 in 2009.  The net income of the Group was US$618,402,000, grew substantially as compared with US$116,999,000 in 2009.

The subject is fully supported by the Juniper Networks Group.

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

 

REMARKS:

 

Brief personal information of the principal director:-

Mr. Mitchell Lee GAYNOR, aged 51, joined Juniper Networks in February 2004 as Vice President, General Counsel, and Secretary and served as Senior Vice President, General Counsel and Secretary from February 2008 to February 2011 and is currently its Executive Vice President, General Counsel and Secretary.  Prior to joining Juniper Networks, Mr. Gaynor was Vice President, General Counsel, and Secretary of Portal Software Inc. and Sybase Inc.  In private practice, he was an associate with the law firm of Brobeck, Phleger & Harrison.  Mr. Gaynor holds a Law degree from University of California’s Hastings College of the Law and a Bachelor’s degree in History from the University of California, Berkeley.

 

Court Cases:           None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.68

UK Pound

1

Rs.73.05

Euro

1

Rs.64.29

 

 

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

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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%)

 

 

 

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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.