MIRA INFORM REPORT

Report Date :

12.12.2014

IDENTIFICATION DETAILS

Name :	JOIN HOLDINGS GROUP (HK) CO. LTD.
Registered Office :	Flat A, 7/F., Block 11, One Beacon Hill, 1 Beacon Hill Road, Kowloon Tong, Kowloon
Country :	Hongkong
Date of Incorporation :	13.05.2008
Com. Reg. No.:	39287427
Legal Form :	Private Limited Company
Line of Business :	Trader of all kinds of Mobile Phones and Accessories.
No. of Employees :	1

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Hongkong	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

HONGKONG - 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

Company Name and address

JOIN HOLDINGS GROUP (HK) CO. LTD.

ADDRESS: Flat A, 7/F., Block 11, One Beacon Hill, 1 Beacon Hill Road, Kowloon Tong, Kowloon, Hong Kong.

PHONE: 852-2728 1099, 2728 7500

FAX: 852-2728 1099

MANAGEMENT

Managing Director: Mr. Lam Koon Wan

SUMMARY

Incorporated on: 13th May, 2008.

Organization: Private Limited Company.

Issued Share Capital: HK$1.00

Business Category: Mobile phone trader.

Employee: 1.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

Flat A, 7/F., Block 11, One Beacon Hill, 1 Beacon Hill Road, Kowloon Tong, Kowloon, Hong Kong.

Associated Companies:-

Po Lap Wah (HK) International Co. Ltd., not registered in Hong Kong.

Po Lap Wah International Co. Ltd., Hong Kong.

BUSINESS REGISTRATION NUMBER

39287427

COMPANY FILE NUMBER

1236380

MANAGEMENT

Managing Director: Mr. Lam Koon Wan

ISSUED SHARE CAPITAL

HK$1.00

SHAREHOLDER

(As per registry dated 13-05-2014)

Name	No. of share
LAM Koon Wan	1 =

DIRECTOR

(As per registry dated 27-05-2014)

Name (Nationality)	Address
LAM Koon Wan	Flat A, 7/F., Block 11, One Beacon Hill, 1 Beacon Hill Road, Kowloon Tong, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 13-05-2014)

Name	Address	Co. No.
Topsmart Business Consultancy Ltd.	Unit 1521, 15/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.	0591658

HISTORY

The subject was incorporated on 13th May, 2008 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: Mobile phone trader.

Lines: All kinds of mobile phones and accessories

Brand Name: Coocel.

Employee: 1.

Commodities Imported: China

Markets: India, other Asian countries, Middle East

Terms/Sales: As per contracted.

Terms/Buying: COD or as per contracted.

FINANCIAL INFORMATION

Issued Share Capital: HK$1.00

Profit or Loss: Traded at a small profitable angle.

Condition: Business remains active.

Facilities: Is making 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 just one ordinary share of HK$1.00, Join Holdings Group (HK) Co. Ltd. is wholly owned by Mr. Lam Koon Wan who is a Hong Kong merchant. He is also the only director of the subject.

The subject’s registered address is in a private building located at Flat A, 7/F., Block 11, One Beacon Hill, 1 Beacon Hill Road, Kowloon Tong, Kowloon, Hong Kong. This is the new residence of Lam Koon Wan. The residential building is not trespassed by outsiders. The subject has just one employee.

The subject is trading in all kinds of mobile phones and accessories. It is carrying GSM/PCS mobile phones and accessories which bear the brand name of Coocel.

The subject has registered its trade mark Coocel with Trade Marks Registry, Intellectual Property Department, the Government of the Hong Kong SAR. This trade mark was registered on 20th July, 2012 and the expiry date is 19th July, 2022.

The subject has registered with the Office of the Communications Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of RU00132580-RU.

The subject is trading in the following commodities:-

Big battery phone;

Full Touch phone;

Low end phone; &

Flip phone.

Products are exported to Asian countries, the Middle East, etc. Business is fairly active. The subject has had an associated factory in China.

The subject has had two associated companies located at its operating address, namely, Po Lap Wah International Co. Ltd. [Po Lap Wah], a Hong Kong-registered company.

Po Lap Wah, established in 2008, is one of the professional manufacturers and exporters of high technology productions. It combines technology developing, products manufacturing and marketing promotion all in one.

Po Lap Wah has set up an IC R&D team and finish products R&D team.

According to Po Lap Wah, its factory has a whole set of shielding room, non‑dust workshop and different kinds of IC testing apparatus and handset testing apparatus. Now its factory has more than 20 production lines and its daily output reaches 20,000 pieces of mobile phones.

The associated factory of Po Lap Wah is in China.

The business of the subject is chiefly handled by Mr. Lam Koon Wan himself. History in Hong Kong is over six years and six years. The subject is also trading in the products of Po Lap Wah.

Since the registered office of the subject is in a residential building, on the whole, consider it good for normal business engagements on L/C basis or in small credit amounts.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.21
UK Pound	1	Rs.97.80
Euro	1	Rs.77.48

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	NIT

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.