|
Report Date : |
05.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
JOINPUSH INTERNATIONAL LTD |
|
|
|
|
Registered Office : |
Room 3-5, 7/F., Thriving Industrial Centre, 26-38 Sha Tsui Road, Tsuen Wan, New Territories |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
31.10.1991 |
|
|
|
|
Com. Reg. No.: |
15241796 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Re-exporter of All kinds of leather raw materials |
|
|
|
|
No. of Employees : |
8 |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
JOINPUSH
INTERNATIONAL LTD.
Room 3-5, 7/F.,
Thriving Industrial Centre, 26-38 Sha Tsui Road, Tsuen Wan, New
Territories, Hong Kong.
(Formerly located at:
Block A, 6/F., Wong King Industrial Building, 2 Tai Yau Street, San Po
Kong, Kowloon, Hong Kong.)
PHONE: 2384 9792, 2385
7878
FAX: 2332 7229
E-MAIL: joinpush@gmail.com, joinpush@hotmail.com
Managing Director: Kwok Yuk Ming
Incorporated on: 31st October, 1991.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$7,000.00
Business Category: Leather
Material Trader.
Employees: 8.
Main Dealing Banker: Bank of
Communications, Hong Kong Branch.
Banking Relation: Satisfactory.
JOINPUSH
INTERNATIONAL LTD.
Registered Head
Office:-
Room 3-5, 7/F., Thriving Industrial Centre, 26-38 Sha Tsui Road,
Tsuen Wan, New Territories, Hong Kong.
Associated
Company:-
Au Ah Leather (Hong Kong) Ltd., Hong Kong. (Same address)
15241796
0331394
Managing Director: Kwok Yuk Ming
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00
each)
Issued Share Capital: HK$7,000.00
(As per registry dated 31-10-2012)
|
Name |
|
No. of shares |
|
KWOK Yuk Ming |
|
6,650 |
|
LEE Ming Yan |
|
350 |
|
|
|
––––– |
|
|
Total: |
7,000 ==== |
(As per registry dated 31-10-2012)
|
Name (Nationality) |
Address |
|
KWOK Yuk Ming |
1/F., 74 Portland Street, Kowloon, Hong Kong. |
|
LEE Ming Yan |
1/F., 74 Portland Street, Kowloon, Hong Kong. |
(As per registry dated 31-10-2012)
|
Name |
Address |
Co. No. |
|
Tse & Tse Management Co. Ltd. |
Flat B, 16/F., Kwong On Bank (Mongkok Branch) Building, 728-730 Nathan
Road, Mongkok, Kowloon, Hong Kong. |
0047242 |
The subject was incorporated on 31st October, 1991 as a private limited
liability company under the Hong Kong Companies Ordinance.
The subject moved to the present address in March 1999.
Formerly the subject was located at Block A, 6/F., Wong King Industrial
Building, 2 Tai Yau Street, San Po Kong, Kowloon, Hong Kong, moved to
the present address with effect from 21st November, 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Re-exporter.
Lines: All
kinds of leather raw materials.
Employees: 8.
Commodities Imported: Imported
from Spain, Italy, India, etc.
Markets: Indonesia
and other Southeast Asian countries.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$7,000.00
Mortgage or Charge:-
Date of Mortgage: 18-10-2012
Amount: All
moneys
Property: 9/4,650th parts or shares
of and in Lot No. 317 in Demarcation District No. 355 (Workshop 4 on 7/F. of
Thriving Industrial Centre, 26-28 Sha Tsui Road, Tsuen Wan, New Territories,
Hong Kong.)
Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Operation
is conducted on a profitable basis.
Condition: Maintained
in an active manner.
Facilities: Is
making use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
Bank of Communications, Hong Kong
Branch.
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
Having issued 7,000 ordinary shares of HK$1.00 each, Joinpush
International Ltd. was equally owned by Kwok Kang Sum and Kwok Yuk Ming. Both of whom are Hong Kong merchants. On 8th December, 2006, Kwok Kang Sum
transferred 350 shares to Lee Ming Yan and 3,150 shares to Kwok Yuk Ming. Since then, Kwok Kang Sum has not been a
shareholder of the subject any more. The
subject now is 95% held by Kwok Yuk Ming and 5% by Lee Ming Yan. The two shareholders are also directors of
the subject. Both are Hong Kong
merchants. The two Kwoks belongs to the
same family.
The subject moved to the present new address in November 2012.
The subject is a leather raw materials trader. It is specialised in cow full grain,
corrected grain, oil pull ups and box leather, calf, cow natural and dyed crust
leather, kid suede, kid/cow linings and industrial leather materials from
European countries and India. Most of its
leather materials are re-exported to Indonesia, China and other Asian countries
for further processing. Finished
products are sold to leather product manufacturers. It has developed long term business ties with
certain foreign suppliers and a number of buyers in Indonesia and China. Business has been normal.
The business of the subject is chiefly handled by Kwok Yuk Ming.
The subject has got an associated company Au Ah Leather (Hong Kong) Ltd.
[Au Ah Leather] located at its operating address. Engaged in the same lines of business as the subject
more or less, Au Ah Leather was incorporated on 5th August, 2005. It is likely that the business of Au Ah
Leather is chiefly administered by Kwok Kang Sum. Besides leather raw materials, Au Ah Leather
also trades in luggage and leather goods.
Au Ah Leather is a member of The Hong Kong Hide & Leather Traders’
Association Ltd. which is Hong Kong-based association.
Since the history of the subject in Hong Kong is over twenty-one years
and two months, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
UK Pound |
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.