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Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
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Name : |
JEREMY
MANAGEMENT SERVICES LTD. |
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Registered Office : |
Room 702, 7/F., Western Centre, 40-50 Des Vouex Road West |
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Country : |
Hong Kong |
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Date of Incorporation : |
31.01.2011 |
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Com. Reg. No.: |
53696511 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Trader of all kinds of aquatic products · Trader of non seafood products which include Indonesia Coconut Fiber and Coconut Shell Charcoal |
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No. of Employees : |
05 |
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 : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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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 |
JEREMY MANAGEMENT SERVICES LTD.
Room 702, 7/F., Western Centre, 40-50 Des Vouex Road West, Hong Kong.
PHONE: 852-2549 0221
E-MAIL: leolam338@aliyun.com
Managing Director: Mr. Lam Fui Yee
Incorporated on: 31st January, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Seafood Trader.
Employees: 5.
Main Dealing Banker: The Bank of East Asia Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 702, 7/F., Western Centre, 40-50 Des Vouex Road West, Hong Kong.
53696511
1557966
Managing Director: Mr. Lam Fui Yee
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 31-01-2011)
|
Name |
|
No. of shares |
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LAM Fui
Yee |
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5,100 |
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LAM Wah Yun, Leo |
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4,900 |
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|
––––– |
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Total: |
10,000 ===== |
(As per registry
dated 31-01-2011)
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Name (Nationality) |
Address |
|
LAM Fui Yee |
Room D, 11/F., City Regalia,
198 Yee Kuk Street, Shamshuipo, Kowloon, Hong Kong. |
(As per registry
dated 01-02-2011)
|
Name |
Address |
|
LAM Yee Ha |
Room 702, 7/F., Western Centre, 40-50 Des Vouex Road West,
Hong Kong. |
The subject was incorporated on 31st January, 2011 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.
Activities: Seafood Trader.
Lines: All kinds of aquatic products.
Employees: 5.
Commodities Imported: China, other Asian countries, etc.
Markets: US, Europe, Middle East, Africa, Russia, etc.
Terms/Sales: As per contracted.
Terms/Buying: Prepayment, L/C, etc.
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: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory
Banker: The Bank of East Asia Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Jeremy Management Services Ltd. is jointly owned by Mr. Lam Fui Yee, holding 51% interests; and Mr. Lam Wah Yun, Leo, holding 49%. Both are Hong Kong merchants. The former is the only director of the subject.
Lam Wah Yun, Leo can be reached at his mobile phone number in Hong Kong 852-5313 5389. He is also the contact person of the subject.
Incorporated on 31st January, 2011, the subject had been dormant for a period of time. It just ceased dormancy on 25th March, 2013.
According to the subject, it was established by a group of partners with over 10 years seafood trading experience. It exports from China frozen tilapia series, squid series, horse mackerel, pacific saury, and other varieties of seafood. It also imports aquatic products from Japan, India, Vietnam, Southeast Asian countries, Africa, etc.
Its markets include the United States, Europe, the Middle East, Africa and Russia. Business is still under development.
The subject also imports overseas lobsters (Ornate spiny lobster, Scalloped spiny lobster, Japanese spiny lobster, Painted spiny lobster, Australia spiny lobster) and markets the products in mainland China.
The subject also trades in other non seafood products which include Indonesia Coconut Fiber and Coconut Shell Charcoal.
On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
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 |
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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.