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Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
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Name : |
JZY INTERNATIONAL LTD. |
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Registered Office : |
C/o Montex Consultants Ltd. Room 2306, 23/F., Fortune Commercial Building, 362 Sha Tsui Road, Tsuen Wan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.02.2008 |
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Com. Reg. No.: |
38968496 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available |
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No. of Employees : |
No Employee in Hong Kong (It is to
be noted that the company does not have its own operating office in Hong Kong.
The company uses the address of its secretariat as its correspondence address
only. Subject operates from some other country and does not have a base in
Hong Kong. Such companies are registered in Hong Kong just to tax benefit
purpose and due to the strict privacy laws prevailing in the country. In such
cases, the companies are not required to have any employees in Hong Kong nor
do have an office there.) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% 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,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. 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
JZY INTERNATIONAL
LTD.
ADDRESS:
Registered Office:-
c/o Montex Consultants Ltd.
Room 2306, 23/F., Fortune Commercial Building, 362 Sha Tsui Road, Tsuen
Wan, New Territories, Hong Kong.
38968496
1212150
20th February, 2008.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 20-02-2013)
|
Name |
|
No. of shares |
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XU Xin |
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10,000 ===== |
(As per registry dated 20-02-2013)
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Name (Nationality) |
Address |
|
XU Xin |
144 Xin Hua Road, Guang Yang District, Lang Fang City, Hebei, China. |
(As per registry dated 20-02-2013)
|
Name |
Address |
Co. No. |
|
Ever Team Ltd. |
Unit 2, 21/F., Workingfield Commercial Building, 408-412 Jaffe Road,
Wanchai, Hong Kong. |
1301211 |
The subject was incorporated on 20th February, 2008. as a private
limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of GD International
Ltd., name changed to the present style on 4th March, 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
JZY International Ltd. was incorporated in February, 2008 as a private
limited liability company.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 2306, Fortune Commercial Building, 362 Sha Tsui
Road, Tsuen Wan, New Territories, Hong Kong” known as “Montex Consultants Ltd.”
[Montex] which is handling its correspondences and documents. Your given phone number 852-2612 2803 belongs
to Montex. Its fax number is 852-2612
2018.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each of which are wholly owned by Ms. Xu
Xin who is a China businesswoman. She is
a China passport holder and does not have the right to reside in Hong Kong
permanently. She is also the only
director of the subject. Currently she
is residing in Lang Fang City, Hebei Province, China.
The subject’s lines of business are unknown since the secretarial firm
knows nothing about its business.
The director of the subject cannot be reached as she is in China.
No information of the subject can be obtained from our secondary
sources.
It is likely that the subject has got an associated company in Lang Fang
City, Hebei Province, China which is also operated by Xu Xin.
It is also likely that the China firm deals with foreign parties under
the name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong. The
China firm also exports commodities to foreign markets under the name of the
subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over five years.
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.
NOTE :
It is to be
noted that the company does not have its own operating office in Hong Kong. The
company uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong Kong.
Such companies are registered in Hong Kong just to tax benefit purpose and due
to the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
-- |
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.