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Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
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Name : |
HONG KONG JIA SHENG INTERNATIONAL ENTERPRISE DEVELOPMENT LTD. |
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Registered Office : |
c/o Anda Business Ltd., Flat D, 21/F., Max Share Centre, 367-373
King’s Road, North Point |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.12.2004 |
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Com. Reg. No.: |
35466213 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Logistic Service Provider of All kinds of commodities as entrusted by
clients |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
No Operating Office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
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Source : CIA |
HONG KONG JIA
SHENG INTERNATIONAL ENTERPRISE DEVELOPMENT LTD.
c/o Anda Business Ltd.
Flat D, 21/F., Max Share Centre, 367-373 King’s Road, North Point,
Hong Kong.
PHONE: 2155 8288
FAX: 2564 2297
Managing Director: Mr. Wu Ya
Qiang
Incorporated on: 10th December, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$155,986,000.00
Issued: HK$155,986,000.00
Business Category: Logistic
Service Provider.
Employees: Nil.
Main Dealing Banker: Hang Seng
Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONG KONG JIA
SHENG INTERNATIONAL ENTERPRISE DEVELOPMENT LTD.
Registered
Office:-
c/o Anda Business Ltd.
Flat D, 21/F., Max Share Centre, 367-373 King’s Road, North Point, Hong
Kong.
Holding Company:-
Xiamen Justsun Foreign Trade Co. Ltd., China.
Associated
Companies:-
Shenzhen Justsun Supply Chain Co. Ltd., China.
Fujian Quanzhou Justsun Supply Chain Co. Ltd., China.
35466213
0939090
Managing Director: Mr. Wu Ya
Qiang
Nominal Share Capital: HK$155,986,000.00
(Divided into 155,986,000 shares of HK$1.00 each)
Issued Share Capital: HK$155,986,000.00
(As per registry dated 10-012-2012)
|
Name |
|
No. of shares |
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Xiamen Justsun Foreign Trade Co. Ltd. Room 1802, Block A, Jialian Building, 164-176 Jiahe Road, Xiamen
Special Economic Zone, China. |
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155,986,000 ========= |
(As per registry dated 10-12-2012)
|
Name (Nationality) |
Address |
|
WU Ya Qiang |
Room 602, 6/F., Jinfeng Lane, Xiamen Special Economic Zone, China. |
|
LI Dong Min |
Room 602, 6/F., Jinfeng Lane, Xiamen Special Economic Zone, China. |
(As per registry dated 10-12-2012)
|
Name |
Address |
Co. No. |
|
Anda Business Ltd. |
Flat D, 21/F., Max Share Centre, 367-373 King’s Road, North Point,
Hong Kong. |
1808699 |
The subject was incorporated on 10th December, 2004 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of “Union Health
Development Ltd.,” name changed to “Hong Kong Union Health International
Enterprises Development Ltd.” on 7th April, 2005 and further to the present
style on 15th February, 2007.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Logistic
Service Provider.
Lines: All kinds of
commodities as entrusted by clients.
Employees: Nil.
Commodities Imported: China, other Asian
countries, Europe, etc.
Business Territories: China and other
Asian countries, etc.
Terms/Services: As per
contracted.
Terms/Buying: Various
terms.
Nominal Share Capital: HK$155,986,000.00
(Divided into 155,986,000 shares of HK$1.00 each)
Issued Share Capital: HK$155,986,000.00
Mortgage or Charge (Since 2012): (See attachment)
Profit or Loss: Keeping a
balance account in Hong Kong.
Condition: Business is
not active in Hong Kong.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd.,
Hong Kong.
Standing: Small.
Having issued 155,986,000 ordinary shares of HK$1.00 each, Hong Kong Jia
Sheng International Enterprise Development Ltd. is wholly owned by Xiamen
Justsun Foreign Trade Co. Ltd. [Justsun] which is a China-based firm.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Flat D, 21/F., Max Share Centre, 367‑373 King’s
Road, North Point, Hong Kong” known as “Anda Business Ltd.” which is handling
its correspondences and documents. This
firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
The subject is engaged in the same lines of business as Justsun which is
also known as Xiamen Jiasheng Foreign Trade Co. Ltd. [Justsun].
Established in 1997, Justsun is a service provider of supply chain
integrating management. With advanced
technology and management concepts, Justsun professionally integrates the
resources in all the links of supply chain, and provides its partners with a
four-in-one total solution integrating capital flow, business flow, logistics
flow and information flow on the whole industrial chain.
A significant member of the Group is Shanghai Justsun. It is also a wholly‑owned subsidiary of
Justsun. Shanghai Justsun provides local
firms with the following services:-
Financing;
Information and marketing services;
Logistic Services; &
Products delivery.
Justsun has built up such public service platforms as logistics
platform, capital platform, trading platform and information platform. In accordance with the requirements of its
partners, Justsun provides customized service solutions such as procurement and
distribution, including import and export customs clearance, vendor managed
inventory, virtual manufacturing, and international and domestic logistics.
Justsun has formed long-term strategic partnerships with hundreds of
manufacturers, traders, banks, and logistics enterprises, with its main markets
on the west coast of the Taiwan Strait, covering whole China and the other
Asian countries.
Justsun now has become one of the large service providers of import and
export trade and supply chain in China.
According to Justsun, its import and export volume increased from
US$8.13 million in 2002 to US$710 million in 2010. In 2011, its import and export volume
amounted to US$1,030 million and up to US$1,408 million in 2012. Business is active and significant.
Besides the subject, Shenzhen Justsun Supply Chain Co., Ltd. and Fujian
Quanzhou Justsun Supply Chain Co., Ltd. are supply chain service companies
under Justsun.
Supported by Justsun, however the subject’s business in Hong Kong is not
active.
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 small credit amounts.
(Since 2012)
|
Date |
Particulars |
Amount |
|
14-03-2012 |
Instrument: Charge on Cash Deposit Property: All sums from time to time standing to the credit of the account of
the Depositor specified, Deposit Account Number : (900-008-0063235-6) with
Bank SinoPac Mortgagee: Bank SinoPac, Hong Kong Branch. |
All sums of money and liabilities |
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14-03-2012 |
Instrument: Charge on Cash Deposit Property: All sums from time to time standing to the credit of the account of
the Depositor, Deposit Account Number: (90-008-0063235-6) with Bank SinoPac Mortgagee: Bank SinoPac, Hong Kong Branch. |
All sums of money and liabilities |
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01-06-2012 |
Instrument: Charge over Deposit/Securities Property: The Chargor charges by way of fixed charge to the Bank all the right,
title and interest of the Chargor in and to the Charged Assets. Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure owing All monies in any currency by the Company to Hang Seng
Bank Ltd. |
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26-06-2012 |
Instrument: Trade Finance Security Assignment Property: The Borrower as beneficial owner:- (A) Assigns and agrees to
assign absolutely to the Bank all the present and future rights, title,
interests and benefits of the Borrower in and to the following assets:- (i) Export Credits; (ii) Export Collection
Bills; (iii) Sales Contracts; (iv) Invoice Receivables; (v) Insurances; (vi)
Trade Documents; and (vii) all claims, remedies
and proceeds in connection with any of the foregoing; and (B) Charges and agrees to
charge to the Bank by way of first fixed charge all the present and future
rights, title, interests and benefits of the Borrower in and to the following
assets: (i) the Goods together with their proceeds; and (ii) the Deposit; and (C) Pledges & agrees
to pledge to the Bank the Pledged Goods and the Trade Documents which are now
or may in the future be in the Bank’s possession Mortgagee: CITIC Bank International Ltd.,
Hong Kong. |
As security for the payment of all Secured liabilities |
|
28-06-2012 |
Instrument: Charage on Deposit Property: Deposit Balance placed or to be placed with the Bank under the account
No. 043-509-9-204112-3 maintained in the name of the company Mortgagee: Nanyang Commercial Bank Ltd.,
Hong Kong. |
To secure the payment of all moneys, obligations and liabilities,
whether actual or contingent, which are now or may at any time hereafter be
or become due, owing or incurred to the mortgagee by the company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
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|
1 |
Rs.82.43 |
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Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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.