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Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
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Name : |
JOYLING LTD. |
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Registered Office : |
Suite 3-6, 29/F., Skyline Tower, 39 Wang Kwong Road, Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.10.1992 |
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Com. Reg. No.: |
16273510 |
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Legal Form : |
Private Limited Company |
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line of business
: |
Manufacturer, Importer and Exporter of All kinds of men’s shoes, boots, etc. |
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No. of Employees : |
20. (Including associates) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 re-exports, is about four times GDP. 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, helped it to make an initial recovery more quickly than many
observers anticipated, it again faces a possible slowdown as exports to the
Euro zone and US slump. 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 7.8% of total system deposits in Hong
Kong by the end of 2011, an increase of over 59% since the beginning of the
year. 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 exports 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 28 million in 2011, outnumbering
visitors from all other countries combined. Hong Kong has also established itself
as the premier stock market for Chinese firms seeking to list abroad. In 2011
mainland Chinese companies constituted about 43% of the firms listed on the
Hong Kong Stock Exchange and accounted for about 56% 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. Growth slowed to
5% in 2011. Credit expansion and tight housing supply conditions caused Hong
Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in
2011. Lower and middle income segments of the population are increasingly
unable to afford adequate housing. Hong Kong continues to link its currency
closely to the US dollar, maintaining an arrangement established in 1983.
|
Source
: CIA |
JOYLING LTD.
Suite 3-6, 29/F., Skyline Tower,
39 Wang Kwong Road,
Kowloon Bay, Kowloon,
Hong Kong.
(Formerly located at:
9/F., Top Glory Tower,
262 Gloucester Road,
Causeway Bay, Hong Kong.)
JOYLING LTD.
Suite 3-6, 29/F., Skyline Tower, 39 Wang Kwong Road, Kowloon Bay,
Kowloon, Hong Kong.
PHONE: 3694 0930, 2646 6567
FAX: 2377 4984
E-MAIL: mrjoy@netvigator.com
Managing Director: Mr. Jacques
Louis Armand Royer
Incorporated on: 20th October, 1992.
Organization: Private Limited Company.
Capital: Nominal: HK$470,000.00
Issued: HK$470,000.00
Business Category: Manufacturer,
Importer and Exporter.
Employees: 20. (Including associates)
Main Dealing Banker: Banque
Revillon Hong Kong Branch, Hong Kong.
Banking Relation: Satisfactory.
JOYLING LTD.
Registered Head
Office:-
Suite 3-6, 29/F., Skyline Tower, 39 Wang Kwong Road, Kowloon Bay,
Kowloon, Hong Kong.
Holding Company:-
Groupe Royer, France.
Associated
Companies:-
Central Park Shoes HK Ltd., Hong Kong.
(Same address)
Central Park Shoes UK Ltd., UK.
Central Park Spain SL, Spain.
Luo Fu Footwear Hong Kong Ltd., Hong Kong. (Same address)
Royer Asia Ltd., Hong Kong. (Same
address)
Royer SAS, France.
Transcontinental Sportswear Systems Scandinavia AB, Sweden.
16273510
0385184
Managing Director: Mr. Jacques
Louis Armand Royer
Contact Person: Mr. Michael Lee
Nominal Share Capital: HK$470,000.00 (Divided into 4,700 shares of
HK$100.00 each)
Issued Share Capital: HK$470,000.00
(As per registry dated 20-10-2011)
|
Name |
|
No. of shares |
|
Groupe Royer Zi De L’ Aumaillierir, 35302 Fougeres, France. |
|
4,700 ==== |
(As per registry dated 20-10-2011)
|
Name (Nationality) |
Address |
|
Jacques Louis Armand ROYER |
19, reu de la Basse Porte, 35133 Lecousse, France. |
|
Mickael Louis Joseph ROYER |
37, Avenue Aristide Briand, 35000 Rennes, France. |
|
Gerardo Alvaro FERNANDEZ IBANEZ |
Block B, 12/F., The Manhattan, 3 Tai Tam Road, Hong Kong. |
(As per registry dated 20-10-2011)
|
Name |
Address |
Co. No. |
|
Cheng & Cheng Corporate Services Ltd. |
Room 1201, 12/F., Allied Kajima Building, 138 Gloucester Road,
Wanchai, Hong Kong. |
0307222 |
The subject was incorporated on 20th October, 1992 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 9/F., Top Glory Tower, 262
Gloucester Road, Causeway Bay, Hong Kong, moved to the present address in
recent years.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Manufacturer,
Importer and Exporter.
Lines: All
kinds of men’s shoes, boots, etc.
Employees: 20. (Including associates)
Commodities Imported: Imports raw
materials from European countries and finished products from China.
Markets: Europe,
North America, etc.
Terms/Sales: L/C
or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$470,000.00 (Divided into 4,700 shares of HK$100.00
each)
Issued Share Capital: HK$470,000.00
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: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: Banque Revillon Hong Kong
Branch, Hong Kong.
Standing: Normal.
Joyling Ltd. is a wholly-owned subsidiary of Groupe Royer [Group/Royer]
which is a France-based firm.
The Chairman and main shareholder of Royer is Jacques Louis Armand
Royer.
The subject is a footwear trader.
It is responsible for the production and quality control.
Groupe Royer was originally specialized in the importation of footwear
intended for Mass Market distribution.
It later diversified by incorporating sport shoes and city footwear into
its field of activity. The acquisition
of well-known brands under license enabled the Group to expand and develop its
offer, and to respond to the demand of new fields of distribution.
Some Figures About
Royer Group:-
1,200 employees worldwide;
13,000 customers in 70 countries;
77,000 m² of offices and warehouses around the world;
310 million euros in turnover in 2011;
330 million euros in turnover planned for 2012; &
32 million pairs of shoes sold in 2011.
The Royer Group has been established in Asia for over 30 years and was a
pioneer in sourcing for shoes. As a
result of this long experience it has been able to set up long-term relations
with its industrial partners based on integrity and reliability.
While the Group has only a few production units in Europe, it has a very
sound knowledge of the industrial fabric in Asia. It has links with the production
sites and works regularly with around 150 factories, which are selected for
their know-how, specialization, production capacity, history and compliance
with social and environmental standards.
Most of the products sold by the Royer Group now come from Southeast
Asia (85%). But out of a concern to
divide up its production areas, the Group also uses other regions such as
India, where leather-working is particularly sophisticated, and the countries
of the Maghreb.
Now, the Group has set up three offices in China and one in India.
To make up for the geographical remoteness of the production sites,
offices‑fully-fledged Group subsidiaries – have been set up close to the
factories. 350 people (development
managers, quality controllers, merchandisers, etc.) work to ensure that
production runs smoothly. They are
responsible for setting up the collections with the suppliers, quality control
and delivery times, and work closely with the teams in France.
The main brands of the Sport Division of the Group are Converse and New
Balance.
The main brands of the Junior Division of the Group are Kickers,
Aster and Mod8.
The Fashion and Luxury Division is a relative newcomer to the Group’s
divisions as it was created in its present form in 2010. It was born out of a desire to pool expertise
and structures around the Group’s fashion and luxury brands.
Within the fashion sector there is a differentiation between the license
and distribution activities. Here, Paul
& Joe Sister, Chipie (license) and Bloch, Sperry Top-Sider, PF Flyer and
Keds (distribution) offer court shoes, ankle boots, pumps and sneakers for an
urban clientele, always at the cutting edge of fashion. The Royer Group contributes its design,
sourcing and distribution expertise, adapted to a demanding market and always
on the lookout for the latest new products.
The luxury activity is focused on the Stephane Kélian and Charles
Jourdan brands, which were bought in 2007 and 2008 respectively. It stands out for the quality of its brands
and its control over production. The
Royer Group runs a production unit dedicated solely to these two brands and a
group of shops. The result is a complete
structure with diversified activities specially dedicated to the very singular
world of luxury.
The subject is fully supported by the Group.
As the history of the subject is about 20 years in Hong Kong, on the
whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.75 |
|
UK Pound |
1 |
Rs.85.07 |
|
Euro |
1 |
Rs.69.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.