MIRA INFORM REPORT
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Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG JAWEE TECHNOLOGY CO., LIMITED |
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Registered Office : |
Room 706, Yongteng Tower, No. 1065, Wuzhong Road, Minhang
District, Shanghai, 201103 Pr |
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Country : |
China |
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Date of Incorporation : |
--- |
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Com. Reg. No.: |
--- |
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Legal Form : |
--- |
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Line of Business : |
--- |
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No. of Employees : |
--- |
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 : |
Not Registered in China |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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China |
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 |
china ECONOMIC OVERVIEW
Since the late 1970s China has
moved from a closed, centrally planned system to a more market-oriented one
that plays a major global role - in 2010 China became the world's largest
exporter. Reforms began with the phasing out of collectivized agriculture, and
expanded to include the gradual liberalization of prices, fiscal
decentralization, increased autonomy for state enterprises, creation of a
diversified banking system, development of stock markets, rapid growth of the
private sector, and opening to foreign trade and investment. China has
implemented reforms in a gradualist fashion. In recent years, China has renewed
its support for state-owned enterprises in sectors it considers important to
"economic security," explicitly looking to foster globally competitive
national champions. After keeping its currency tightly linked to the US dollar
for years, in July 2005 China revalued its currency by 2.1% against the US
dollar and moved to an exchange rate system that references a basket of
currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi
against the US dollar was more than 20%, but the exchange rate remained
virtually pegged to the dollar from the onset of the global financial crisis
until June 2010, when Beijing allowed resumption of a gradual appreciation. The
restructuring of the economy and resulting efficiency gains have contributed to
a more than tenfold increase in GDP since 1978. Measured on a purchasing power
parity (PPP) basis that adjusts for price differences, China in 2012 stood as
the second-largest economy in the world after the US, having surpassed Japan in
2001. The dollar values of China's agricultural and industrial output each
exceed those of the US; China is second to the US in the value of services it
produces. Still, per capita income is below the world average. The Chinese
government faces numerous economic challenges, including: (a) reducing its high
domestic savings rate and correspondingly low domestic demand; (b) sustaining
adequate job growth for tens of millions of migrants and new entrants to the
work force; (c) reducing corruption and other economic crimes; and (d)
containing environmental damage and social strife related to the economy's
rapid transformation. Economic development has progressed further in coastal
provinces than in the interior, and by 2011 more than 250 million migrant
workers and their dependents had relocated to urban areas to find work. One
consequence of population control policy is that China is now one of the most
rapidly aging countries in the world. Deterioration in the environment -
notably air pollution, soil erosion, and the steady fall of the water table,
especially in the North - is another long-term problem. China continues to lose
arable land because of erosion and economic development. The Chinese government
is seeking to add energy production capacity from sources other than coal and
oil, focusing on nuclear and alternative energy development. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to under 8% for 2012. An economic slowdown in Europe
contributed to China's, and is expected to further drag Chinese growth in 2013.
Debt overhang from the stimulus program, particularly among local governments,
and a property price bubble challenge policy makers currently. The government's
12th Five-Year Plan, adopted in March 2011, emphasizes continued economic
reforms and the need to increase domestic consumption in order to make the
economy less dependent on exports in the future. However, China has made only
marginal progress toward these rebalancing goals.
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Source : CIA |
Company name & address
HONGKONG JAWEE TECHNOLOGY CO., LIMITED
ROOM 706, YONGTENG
TOWER, NO. 1065, WUZHONG ROAD,
MINHANG DISTRICT,
SHANGHAI, 201103 PR CHINA
TEL:
86 (0) 18601732280 FAX: 86 (0) 21-64609375
Narrative report:
This refers
to a type of report whose format is different from that of a standard report.
Such type of report is provided when:
l Information
obtained is insufficient for compiling a standard report.
l The enquired co
has been out of business or its business address has been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
The provided telephone number is:
86-21-64609375
We dialed the number, but it is a fax no.
We sent a message to the E-mail: kelvin.zhang@jawee-automation.com,
later Mr. Zhang replied, and provided his mobile tel. no. 18601732280.
When we dailed the no., Mr. Zhang Xiong answered.
He confirmed the given name and
released the following:
SC is registered in Hong Kong with the Chinese
name 香港嘉玮科技有限公司, and operating in
Shanghai, mainland China.
SC is mainly engaged in exporting industrial automation products.
SC is known to have approx. 2 employees in Shanghai, mainland China at
present.
According
to the Chinese name 香港嘉玮科技有限公司, investigations were
made with Shanghai Municipal Administration for Industry & Commerce (AIC -
The official body of issuing and renewing business license); however, no record
was found.
In HK Company
Registry, we found the following registration information on SC:
Hongkong
Jawee Technology Co., Limited
Incorporation Date : Oct. 4, 2006
Registration No . : 1078476
Registered Legal Form :
Private
Active Status :
Live
http://www.jawee.com.cn The
design is professional and the content is well organized. At present it is in
English version.
E-mail: kelvin.zhang@jawee-automation.com
According to SC’s website, SC’s products mainly include:
CNC System
CNC spare parts
AC Servo System
MR-J4 series
MR-J3 series
MR-J2S series
MR-E series
Programmable Logic Controller
FX-series
Q-series
Motion Controller
Inverter (VFD)
FR-A700 series
FR-F700 series
FR-D700 series
FR-E700 series
Human Machine Interface
Tension Control System
Electric Discharge Machine
Laser Process Machine
Industrial Robot
According to Mr. Zhang, the heading address is
SC’s operating address, but he refused our request for a spot visit.
In view of our investigation results, SC is not registered in mainland
China. It is registered in Hong Kong, while operating in Shanghai, mainland
China.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.16 |
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UK Pound |
1 |
Rs.97.77 |
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Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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.