MIRA INFORM REPORT

Report Date :

10.11.2011

IDENTIFICATION DETAILS

Name :	JIEXINGDA INDUSTRY CO. LTD.

Registered Office :	Unit 9 (Or Room 1209), 12/F., Fo Tan Industrial Centre, 26-28 Au Pui Wan Street, Fo Tan, Shatin, New Territories

Country :	Hong Kong

Date of Incorporation :	17.11.2009

Com. Reg. No.:	51427560

Legal Form :	Private Limited Company

Line of Business :	Importer, Exporter and Wholesaler of Plastic products, underwear, Bras, etc.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Hong Kong

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name and address

JIEXINGDA INDUSTRY CO. LTD.

Address:

Unit 9 (or Room 1209), 12/F., Fo Tan Industrial Centre,

26-28 Au Pui Wan Street, Fo Tan, Shatin, New Territories, Hong Kong.

Note: Your enquiry given as JIEXIN GDA INDUSTRY CO. LTD (NF).
Fo Tan Industrial Centre is the same as Fu Teng Industrial Centre.

PHONE: 3154 9706

MANAGEMENT

Managing Director: Mr. Chen Yue Jun

SUMMARY

Incorporated on: 17th November, 2009.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 4.

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

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

Unit 9, 12/F., Fo Tan Industrial Centre, 26-28 Au Pui Wan Street, Fo Tan, Shatin, New Territories, Hong Kong.

Associated Company:-

Shantou Jiexingda Industrial Co. Ltd.

Chendian Town, Chaonan District, 515100 Shantou SEZ, China.

[Tel: 86-754-8449 5726; Fax: 86-754-8449 7268]

BUSINESS REGISTRATION NUMBER

51427560

COMPANY FILE NUMBER

1391976

MANAGEMENT

Managing Director: Mr. Chen Yue Jun

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

SHAREHOLDER

(As per registry dated 17-11-2010)

Name		No. of shares
CHEN Yue Jun		10,000 =====

Name

No. of shares

CHEN Yue Jun

10,000

=====

DIRECTOR

(As per registry dated 17-11-2010)

Name (Nationality)	Address
CHEN Yue Jun	No.8-A/901, Shangjing Garden, Zhongxincheng, Longgang District, Shenzhen, China.

Name

(Nationality)

Address

CHEN Yue Jun

No.8-A/901, Shangjing Garden, Zhongxincheng, Longgang District, Shenzhen, China.

SECRETARY

(As per registry dated 17-11-2010)

Name	Address	Co. No.
Hongkong Kamkiu Registration Ltd.	Room 603, 6/F., Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha Wan, Kowloon, Hong Kong.	1250522

HISTORY

The subject was incorporated on 17th 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.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Plastic products, underwear, Bras, etc.

Employees: 4.

Commodities Imported: Europe, other Asian countries, etc.

Markets: China, other Asian countries, Europe, North America, etc.

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

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

Profit or Loss: Suffering from a small loss in 2010.

Condition: Business is under development.

Facilities: Trying to make use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Fairly satisfactory.

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

Standing: Small.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, JieXingDa Industry Co. Ltd. is wholly owned by Mr. Chen Yue Jun who is a China merchant. He is a China ID holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.

The subject is trading in plastic products, brassieres, lingerie, corsets, girdles, other ladies’ underwear.

The subject has had an associated company known as Shantou Jiexingda Industrial Co. Ltd. [Shantou Jiexingda] which was founded in 1995. Shantou Jiexingda is engaged in manufacturing the above-mentioned products. Most of the products, ranging from middle- to high-end, bear the brand names of “Jiao Ying” and “Qian Mei”. The products are marketed in China, exported to North America, Western Europe, Southeast Asia, etc. Shantou Jiexingda also receives OEM orders.

Having about 100 employees, Shantou Jiexingda is represented by Mr. Chen Han Yuan.

The subject is engaged in marketing the products of Shantou Jiexingda and sourcing raw materials for it.

The history of the subject is just about two years in Hong Kong. Business is still under development.

On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis for the time being.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.78
UK Pound	1	Rs.80.12
Euro	1	Rs.68.82

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.