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Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
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Name : |
JJB LINK LOGISTICS CO. LTD. |
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Registered Office : |
Room 428, 4/F., Block B, Profit Industrial Building, 1-15
Kwai Fung Crescent, Kwai Chung, New Territories, |
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Country : |
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Date of Incorporation : |
04.01.2002 |
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Com. Reg. No.: |
34961945 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
SUBJECT IS A FREIGHT FORWARDING AGENT. IT IS ALSO A CUSTOM BROKER, NVOCC |
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No. of Employees |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
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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 |
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 has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: 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, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. 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 12% of total system deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies
|
Source
: CIA |
JJB LINK LOGISTICS
CO. LTD.
ADDRESS: Room 428, 4/F., Block B, Profit Industrial Building, 1-15 Kwai Fung Crescent, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-3741 2318, 852-3741 2376
FAX: 852-3741 2320
E-MAIL: ben.ng@jjb-link.com
Managing Director: Mr. Hung Man Cheung, Billy
Incorporated on: 4th January, 2002.
Organization: Private Limited Company.
Capital: Nominal:HK$5,070,000.00
Issued: HK$5,070,000.00
Business Category: Freight Forwarding Agent.
Group Revenues: ¥624,504 million (Year ended 31-03-2014)
Employees: 20.
Main Dealing Banker: Citibank N.A., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 428, 4/F., Block B, Profit Industrial Building, 1-15 Kwai Fung Crescent, Kwai Chung, New Territories, Hong Kong.
Offices:-
In USA., Portland, Shanghai, Beijing, Chongqing, Guangzhou, Shenzhen, Taiwan, Tianjin and Xian.
Holding Company:-
James J. Boyle & Co., USA.
Ultimate Holding
Company:
Hitachi Transport System, Ltd., Japan.
Affiliated/Subsidiary/Associated
Companies:-
Hitachi Transport Group of Companies
Carter Logistics LLC, USA.
CDS Freight Holding Ltd., Hong Kong.
Chubu Hitachi Transport Service Co. Ltd., Japan.
EHB Logistics Co. Ltd., China.
Eternity Grand Logistics Public Co. Ltd., Thailand.
Eurasia Logistics Ltd., Hungary.
Fine Chemical Logistics China Co. Ltd., China.
Fine Chemical Logistics Hong Kong Co. Ltd., Hong Kong.
Flyjac Logistics Pvt. Ltd., India.
Higashinippon Hitachi Transport Service Co. Ltd., Japan.
Hitachi Auto Service Co. Ltd., Japan.
Hitachi Collabonext Transport System Co. Ltd., Japan.
Hitachi Distribution Software (Shanghai) Co. Ltd., China.
Hitachi Distribution Software Co. Ltd., Japan.
Hitachi Finenext Transport System Co. Ltd., Japan.
Hitachi Orientlogi Transport System Co. Ltd., Japan.
Hitachi Sistema de Transporte Mexico S.A. de C.V., Mexico.
Hitachi Transport Direx Co. Ltd., Japan.
Hitachi Transport System (America) Ltd., USA.
Hitachi Transport System (Asia) Pte. Ltd., Singapore.
Hitachi Transport System (Australia) Pty. Ltd., Australia.
Hitachi Transport System (China) Ltd., China.
Hitachi Transport System (Europe) B.V., Netherlands.
Hitachi Transport System (Korea) Ltd., Korea.
Hitachi Transport System (Malaysia) Sdn. Bhd., Malaysia.
Hitachi Transport System (Shanghai) Ltd., China.
Hitachi Transport System (Thailand) Ltd., Thailand.
Hitachi Transport System (Vietnam) Co. Ltd., Vietnam.
Hitachi Travel Bureau Ltd., Japan.
Hitachi Travel Bureau Shanghai Co. Ltd., China.
Hitachi Xinxin Global Logistics (Henan) Co. Ltd., China.
HTS Forwarding Malaysia Sdn. Bhd., Malaysia.
JJB Link Logistics Co. Ltd., China.
Kanto Hitachi Transport Service Co. Ltd., Japan.
Kyushu Hitachi Transport Service Co. Ltd., Japan.
Manila International Freight Forwarders Inc., Philippines.
Mars Logistics Group Inc., Turkey.
MIFFI Logistics Co. Inc., Philippines.
Minamikanto Hitachi Transport Service Co. Ltd., Japan.
Nishinippon Hitachi Transport Service Co. Ltd., Japan.
Nisshin (Myanmar) Co. Ltd., Myanmar.
Nisshin Global Logistics (Shanghai) Co. Ltd., China.
Nisshin Trans Consolidator Co. Ltd., Japan.
Nisshin Transport (Qingdao) Co. Ltd., China.
Nisshin Transportation (Shanghai) Co. Ltd., China.
Nisshin Transportation Co. Ltd., Japan.
Project Cargo Japan Inc., Japan.
PT Berdiri Matahari Logistik, Indonesia.
PT Hitachi Transport System Indonesia, Indonesia.
PT Nisshin Kuwahara Indonesia, Indonesia.
PT Vantec Indomobil Logistics, Indonesia.
Shanghai Bondex Nisshin Logistics Co. Ltd., China.
Shanghai Xiexin Customs Declaration Co. Ltd., China.
Shutoken Hitachi Transport Service Co. Ltd., Japan.
Sunrise Logistics Solutions (America) Ltd., USA.
Suzhou Bondex NisshinLogistics Co. Ltd., China.
TACC Holding Sdn. Bhd., Malaysia.
Tokiwa Kaiun Co. Ltd., Japan.
TST Sunrise Service Ltd., Thailand.
Vantec Amata Logistics (Thailand) Co. Ltd., Thailand.
Vantec Central Logistics Corporation, Japan.
Vantec Corporation, Japan.
Vantec East Logistics Corporation, Japan.
Vantec Europe Ltd., UK.
Vantec Hitachi Transport System (Hong Kong) Ltd., Hong Kong.
Vantec Hitachi Transport System (Taiwan) Ltd., Taiwan.
Vantec HTS Forwarding Ltd., Japan.
Vantec HTS Logistics (Rus) LLC, Russia.
Vantec Kyushu Logistics Corporation, Japan.
Vantec Logistics India Private Ltd., India.
Vantec Logistics Mexico S.A. de C.V., Mexico.
Vantec Sumiso Logistics (Wuhan) Co. Ltd., China.
Vantec Trans (Thailand) Co. Ltd., Thailand.
Vantec World Transport (Guangzhou) Co. Ltd., China.
Vantec World Transport (M) Sdn. Bhd., Malaysia.
Vantec World Transport (Netherlands) B.V., Netherlands.
Vantec World Transport (Thailand) Co. Ltd., Thailand.
Vantec World Transport (USA) Inc., USA.
etc.
34961945
0781434
Managing Director: Mr. Hung Man Cheung, Billy
Nominal Share Capital: HK$5,070,000.00 (Divided into 5,070,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,070,000.00
SHAREHOLDERS: (As per registry dated 04-01-2014)
|
Name |
|
No. of shares |
|
HUNG Man Cheung, Billy |
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792,445 |
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WANG Chung Leong |
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206,404 |
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Hitachi Transport System, Ltd. 7-2-18, Toyo, Koto-ku, Tokyo 135-8372, Japan. |
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1,175,763 |
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James J. Boyle & Co. 601 Gateway Blvd., #1220 South, San Francisco, CA 94080, USA. |
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2,788,500 |
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ZHU Chen |
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106,888 |
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–––––––– |
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Total: |
5,070,000 ======= |
DIRECTORS: (As per registry dated 01-04-2014)
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Name (Nationality) |
Address |
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Keisuke FUKAZAWA |
#1201, 2-7-2, Takashima, Nishi-ku, Yokohama-City, Kanagawa Pref. 220-0011, Japan. |
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Shibanori KITOH |
Room 20A, Building 2, Nong 118, Ziyun Road, Changning District, Shanghai, China. |
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Greg Kiyoshi KODAMA |
1201 E. Covina Hills Road, Covina, CA91724, USA. |
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Takashi JINGUJI |
3-1-15-311 Edakita, Aoba-ku, Yokohama-shi, Kanagawa 225-0012, Japan. |
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Masataka KASHIWA |
1301 Cabrillo Avenue #409, Torrance CA90501, USA. |
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Shigeo NISHIYAMA |
Suite 2907, 29/F., Sutton Court, Gateway Apartments, Tsimshatsui, Kowloon, Hong Kong. |
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WANG Chung Leong |
Flat 217, 2/F., Kam Shek House, Ping Shek Estate, Kowloon, Hong Kong. |
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ZHU Chen |
Room 202, No. 18, Lane 198, Xinhu Road, Bzoshan District, Shanghai 200436, China. |
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HUNG Man Cheung, Billy |
Unit G, 7/F., Tower 7, Sausalito, 1 Yuk Tai Street, Ma On Shan, Shatin, New Territories, Hong Kong. |
SECRETARY: (As per registry dated 04-01-2014)
|
Name |
Address |
Co. No. |
|
Bamic Consultancy Ltd. |
Room 704, 7/F., Fourseas Building, 208-212 Nathan Road, Kowloon, Hong Kong. |
0266468 |
The subject was incorporated on 4th January, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Giant Speed Ltd., name changed to AGI Link Cargo Co. Ltd. on 13th October, 2004; changed to Link Cargo Co. Ltd. on 21st June, 2005; and further to the present style on 29th December, 2006.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Freight Forwarding Agent.
Lines: All kinds of goods entrusted by clients.
Employees: 20.
Group Revenues: ¥553,934 million (Year ended 31-03-2012)
¥547,517 million (Year ended 31-03-2013)
¥624,504 million (Year ended 31-03-2014)
Business Territories: Hong Kong, China, Europe, North America, etc.
Terms/Services: As per contracted.
Nominal Share Capital: HK$5,070,000.00 (Divided into 5,070,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,070,000.00
Mortgage or Charge:-
Date of Deposit Deed: 30-11-2009
Amount: All moneys
Property: By way of a first fixed charge and as a continuing security for the Obligations, the Company charges and assigns absolutely all its rights, title to and interest in the Accounts and all Deposits
Mortgagee: Citibank N.A., Hong Kong Branch.
Group Net Profit: ¥12,563 million (Year ended 31-03-2012)
¥11,156 million (Year ended 31-03-2013)
¥ 5,433 million (Year ended 31-03-2014)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
Citibank N.A., Hong Kong Branch.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 5,070,000 ordinary shares of HK$1.00 each, JJB Link Logistics Co. Ltd. is chiefly owned by James J. Boyle & Co. [JJB] which is a US-based firm. However, this company has been acquired by Hitachi Transport System, Ltd. [HTSL] which is a Japan-based company.
In total HTSL is holding 78.2% of the subject directly and indirectly.
Now the subject has become a member of the HTS Group. Most of the subject’s directors are Japanese.
The subject is a freight forwarding agent. It is also a custom broker, NVOCC.
JJB has been operational in Shanghai since 2004. The Shanghai office oversees all the businesses of the other offices in China.
Headquarters in Shanghai, China, China JJB offers its clients with all kinds of logistic services.
JJB opened its first office in San Francisco in 1964 which remains to be its corporate headquarters to this day. JJB expanded its business to Los Angeles in the following year. Steady growth in the 1970s led to the opening of new offices up and down the West Coast of the United States, firmly establishing itself as a top West Coast Customs Broker. By the early 1990’s, a new full‑service office in Atlanta, combined with continued expansion via partnerships and alliances with international freight forwarders and brokers, gave JJB the capability of cargo facilitation in every major US port.
As JJB strides into the 21st century, its goal of becoming a true global freight forwarding company has come to fruition via its presence in Asia, Europe, and South America.
JJB continues to search for better ways to service its customers with the kind of custom-tailored and personalized service they have grown to expect.
JJB now has set up offices in Dallas of the United States and Portland.
In China, JJB has offices in Dalian, Qingdao, Shanghai, Tianjin, Xiamen, Shenzhen Special Economic Zone, Guangzhou, and Beijing.
The subject’s business is chiefly handled by Billy Hung Man Cheung, who is the managing director. He is also a shareholder of the subject.
Billy Hung is also the Chief Executive Officer of Shanghai JJB.
For the year ended 31st March, 2014, the revenue of HTS Group amounted to ¥624,504 million (2013: ¥511,156 million); net profit was ¥5,433 million (2013: ¥5,433 million).
The total employees of HTSL is about 24,425.
The subject is fully supported by HTSL. History in Hong Kong is over twelve years and seven months.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.60.66 |
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|
1 |
Rs.100.80 |
|
Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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.