MIRA INFORM REPORT
|
Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
JUN
FA ELECTRONIC LTD. |
|
|
|
|
Registered Office : |
Hongkong Kamkiu Registration Ltd. Room 603, 6/F., Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha Wan, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
25.08.2010 |
|
|
|
|
Com. Reg. No.: |
52843600 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Manufacturer of ICs, electronic devices, etc. |
|
|
|
|
No. of Employees : |
05 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
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 – 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 |
|
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 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 |
Company name
JUN FA ELECTRONIC LTD.
Company ADDRESS
Flat 306, 3/F., Fo Tan Industrial Centre, 26-28 Au Pui Wan Street, Fo Tan, Shatin, New Territories, Hong Kong.
PHONE: 3152 3787, 5103 7853
FAX: 3152 3783
MANAGEMENT
Managing Director: Mr. Chen Yue Jun
SUMMARY
Incorporated on: 25th August, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Manufacturer.
Employees: 5.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered
Office:-
Hongkong Kamkiu Registration Ltd.
Room 603, 6/F., Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha Wan, Kowloon, Hong Kong.
Operating Office:-
Flat 306, 3/F., Fo Tan Industrial Centre, 26-28 Au Pui Wan Street, Fo Tan, Shatin, New Territories, Hong Kong.
Associated
Company:-
Shenzhen Hexing Electronic Co. Ltd.
N2C509 Tow Qi, New Asia Electronics Market Zhonghang Road, Futian District, 518000 Shenzhen Special Economic Zone, China.
[Tel: 86-755-2395 9166 Fax: 86-755-8301 3988]
BUSINESS REGISTRATION NUMBER
52843600
COMPANY FILE NUMBER
1497353
MANAGEMENT
Managing Director: Mr. Chen Yue Jun
Contact Person: Mr. Weng
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 25-08-2012)
|
Name |
|
No.
of shares |
|
CHEN Yue Jun |
|
10,000 ===== |
DIRECTOR
(As per registry
dated 25-08-2012)
|
Name (Nationality) |
Address |
|
CHEN Yue Jun |
N2C509 Tow Qi, New Asia
Electronics Market Zhonghang Road, Futian District, Shenzhen City, China. |
SECRETARY
(As per registry
dated 25-08-2012)
|
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 25th August, 2010 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 Manufacturer.
Lines: ICs, electronic devices, etc.
Employees: 5.
Commodities Imported: Japan, Taiwan, Europe, South Korea, North America, etc.
Markets: China, other Asian countries, etc.
Terms/Sales: As per contracted.
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: 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: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Jun Fa Electronic 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’s registered office is in a commercial service firm located at “Room 603, 6/F., Hang Pont Commercial Building, 31 Tonkin Street, Cheung Sha Wan, Kowloon, Hong Kong” known as “Hongkong Kamkiu Registration Ltd.” which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.
The subject’s operating address is located at Flat 306, 3/F., Fo Tan Industrial Centre, 26-28 Au Pui Wan Street, Fo Tan, Shatin, New Territories, Hong Kong. We can reach the subject’s Hong Kong manager Mr. Weng at your given phone number 5103 7853.
The subject is trading in Integrated Circuits, electronic devices, electronic components, etc.
The subject has had an associated company in Shenzhen Special Economic Zone, China known as Shenzhen Hexing Electronic Co. Ltd. [Hexing] which is located at N2C509 Tow Qi, New Asia Electronics Market Zhonghang Road, Futian District, 518000 Shenzhen Special Economic Zone, China.
The above-mentioned address is also the retailing outlet of Hexing. The business of Hexing is handled by a Mr. Zhuang who can be reached at his mobile phone number 86-13822913773.
Most of Hexing’s products are sourced from Japan, Taiwan, Europe, South Korea, North America, etc. as well as acquired from local suppliers. Prime markets are China, India, the other Asian countries, etc.
The subject and Hexing are engaged in the same lines of business. The subject’s business is chiefly handled by Mr. Weng. History in Hong Kong is about two years.
On the whole, since the history of the subject is short, consider it good for normal business engagements on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.99 |
|
UK Pound |
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.