|
Report Date : |
30.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
JUNWELL MATERIAL SUPPLIES LIMITED. |
|
|
|
|
Registered Office : |
Block 2, 23/F., K-L, Golden Dragon Industrials Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
28.02.1996 |
|
|
|
|
Com. Reg. No.: |
540349 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged manufacturing and sales of
Apparel Accessories. Subject product lines are as
follows:- Special Effects Metal w/ laser, Plastic W/ Laser, Metal
W/ Printed, Plastic W/ Printed, 3M Reflective Tapes & PVC Reflective Tape Hand Made Sequin Badges, Belt W/ Wooden, Cotton Flowers,
Bean Badges, Belt W/ Shell, Rhinestone, Shell Badges, Bracelets, Necklaces,
Crafted & Embroidery Labels &
Badges Badges, Flocking, Real Leather,
PVC Badges, Woven Labels, Printed Labels, Silicon Badges, Rubber Badges,
Imitation Leather & Non-Woven Labels Tape & Cords Elastic Drawstrings, Elastic
Webbings, Grosgrain Tape, Satin Ribbons, Piping Cord, Velcro Tape, Drawstrings,
TPU Tape, Laces & Belts Metal/Plastic Buttons, Toggles, Badges, Buckles,
Eyelets & Cordlocks Buttons Shell, Agate, Amber, Corozo,
Wooden, Coconut, Turquoise & Cat Eye stone |
|
|
|
|
No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
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 : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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) |
|
Hong Kong |
a1 |
a1 |
|
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 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 (in Chinese): |
|
|
Company Name (in English): |
Junwell Material Supplies Limited. |
|
Supplied Name: |
JUNWELL MATERIAL SUPPLIES LIMITED. |
|
Trading Address: |
Block 2, 23/F, K-L, Golden Dragon Industrial Centre, 162-170 Tai Lin
Pai Road, Kwai Chung, Kwai Chung, Hong Kong |
|
Supplied Address: |
2, , 23/F, K-L, GOLDEN DRAGON IND CENTRE, 162-170 TAI LIN ROAD,KWAI
CHUNG, HONG KONG |
Note: The exact
name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
|
|
Registered Address: |
|
|
Telephone Number: |
+852-2728-8617 |
|
Fax Number: |
+852-2386-6500 |
|
E-mail: |
|
|
Date of Registration: |
1996-2-28 |
|
Registered Number: |
540349 |
|
Business Registration No.: |
19694107 |
|
Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2014.12, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares @ HKD
1 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
89983--Press-Fasteners, Snap-Fasteners and Press-Studs
and Parts Therefor; Buttons (KG) |
|
Principal Activities: |
Engaged manufacturing and sales of apparel
accessories. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-2-28 |
Notes:
Subject declined to disclose its staff number;
from other source we cannot obtain the relevant information, either.
Subject was incorporated on 1996-2-28 with the registered number 540349 as Private Limited Liability Company in Hong Kong.
Subject did not
introduce whether it has any subsidiaries or branches, from other source we can
not obtain the relevant information, either.
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Yip Kwok Wai |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder
Information:
|
Name: |
Yip Kwok Wai |
|
Address: |
Flat A, 24/F., Greenery Court, 7 Discovery
Bay Road, Greenvale Village, Discovery Bay, Lantau Island, Hong Kong |
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Yip Kwok Wai |
|
Address: |
Flat A, 24/F., Greenery Court, 7 Discovery
Bay Road, Greenvale Village, Discovery Bay, Lantau Island, Hong Kong |
|
Position: |
Director |
|
ID Number: |
G700129(6) |
|
2 |
|
|
Name: |
Tong Ming Hee |
|
Address: |
Flat 1912, On Wo Housem Tai Wo Estate, Tai
Po, New Territories, Hong Kong |
|
Position: |
Secretary |
|
ID Number: |
E611138(A) |
Offices &
Factories
|
|
Office |
|
Address: |
Block 2, 23/F, K-L, Golden Dragon
Industrial Centre, 162-170 Tai Lin Pai Road, Kwai Chung, Kwai Chung, Hong
Kong |
Premises
Information
Office address:
|
Address: |
Factory K On 23/F Of Block 2, Golden Dragon Industrial
Centre, Nos.162-170 Tai Lin Pai Road, Kwai Chung New Territories |
|
Owners: |
Junwell Material Supplies Limited |
|
Memorial Number: |
11081200020046 |
|
Date of Instrument: |
2011-7-20 |
|
Date of Registration: |
2011-8-12 |
|
Consideration Value: |
USD 2,225,000.00 |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
11081200020056 |
|
Date of Instrument: |
2011-7-20 |
|
Date of Registration: |
2011-8-12 |
|
Nature: |
Mortgage |
|
In Favor of: |
Bank Of |
|
Consideration: |
To Secure All Moneys In Respect
Of General Banking Facilities |
|
2 |
|
|
Memorial No.: |
11061702610054 |
|
Date of Instrument: |
2011-5-20 |
|
Date of Registration: |
2011-6-17 |
|
Nature: |
Carbon Copy Of Provisional Agreement For Sale And Purchase Remarks: by billion field industrial limited See Assignment Mem. No.
11081200020046 |
|
In Favor of: |
Junwell Material Supplies
Limited |
|
Consideration: |
USD 2,225,000.00 |
|
3 |
|
|
Memorial No.: |
11012700350256 |
|
Date of Instrument: |
2011-1-14 |
|
Date of Registration: |
2011-1-27 |
|
Nature: |
Management Agreement |
|
In Favor of: |
Main Shine Development Limited |
Production
Information
l The subject is mainly engaged in manufacturing of apparel accessories .
l It is introduced that subject has a factory in Dongguan City, Guangdong
Province, NanHai and Danshuit in China for production, however, the subject
refused to disclose the detailed information of its factory, and we cannot find
any relevant information from other valid sources, either.
Purchase
Information
l It is introduced that subject purchases raw materials both at home and
abroad.
Sales Information
l The subject is mainly engaged in sales of apparel accessories
l Subject’s selling territory includes Asia, America and Europe.
l Subject’s major customers are designers, buyers and manufacturers of
garment
Major Products
|
Types |
Items |
|
Special Effects |
Metal w/ laser Plastic w/ laser Metal w/ printed Plastic w/ printed 3M reflective tapes PVC reflective
tape |
|
Hand Made |
Sequin badges Belt w/ wooden Cotton flowers Bean badges Belt w/ shell Rhinestone Shell badges Bracelets Necklaces Crafted Embroidery |
|
Labels &
Badges |
Badges Flocking Real leather PVC badges Woven labels Printed labels Silicon badges Rubber badges Imitation leather Non-woven labels |
|
Tape & Cords |
Elastic drawstrings Elastic webbings Grosgrain tape Satin ribbons Piping cord Velcro tape Drawstrings TPU tape Laces Belts |
|
Metal/Plastic |
Buttons Toggles Badges Buckles Eyelets Cordlocks |
|
Buttons |
Shell Agate Amber Corozo Wooden Coconut Turquoise Cat eye stone |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash |
2.
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T |
1.
Domestic Markets
|
Product |
Apparel accessories . |
|
Selling Terms |
T/T, Cash |
2.
Export
|
Product |
Apparel accessories . |
|
Selling Terms |
L/C, T/T |
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff Mr. Lee rejected to disclose the financial information; from other sources we could not obtain such information, either.
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Mortgage Record
|
1 |
|
|
Company Name: |
Junwell Material Supplies Limited |
|
Instrument of Creating Mortgage: |
Mortgage |
|
Date of Creating Mortgage: |
2011-7-20 |
|
Amount Secured: |
To secure “all moneys” in respect of general
banking facilities and interest thereon |
|
Name of Mortgagee: |
Bank of China (Hong Kong) Limited |
|
Address of Mortgagee: |
14th Floor, Bank of China Tower,
No. 1 Garden Road, Central, Hong Kong |
|
Description of Property Mortgaged: |
10/3, 024th parts or shares of and
in Section B of Kwai Chung Town Lot No. 130 and the Extension Thereto
(Factory L, 23rd Floor, Block 2, Golden Dragon Industrial Centre,
Nos. 162-170 Tai Lin Pai Road, Kwai Chung, New Territories) |
|
2 |
|
|
Company Name: |
Junwell Material Supplies Limited |
|
Instrument of Creating Mortgage: |
Mortgage |
|
Date of Creating Mortgage: |
2011-7-20 |
|
Amount Secured: |
To secure “all moneys” in respect of general
banking facilities and interest thereon |
|
Name of Mortgagee: |
Bank of China (Hong Kong) Limited |
|
Address of Mortgagee: |
14th Floor, Bank of China Tower,
No. 1 Garden Road, Central, Hong Kong |
|
Description of Property Mortgaged: |
10/3, 024th parts or shares of
and in Section B of Kwai Chung Town Lot No. 130 and the Extension Thereto
(Factory K, 23rd Floor, Block 2, Golden Dragon Industrial Centre,
Nos. 162-170 Tai Lin Pai Road, Kwai Chung, New Territories) |
Up to now, no present or latent litigation of the
subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy
Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction &
Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Interview
Details
|
Name |
Mr. Lee |
|
Department: |
Sales Department |
|
E-mail: |
89983--Press-Fasteners, Snap-Fasteners and Press-Studs and Parts
Therefor; Buttons (KG)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Value |
|
|
Imports |
||||
|
Argentina |
479 |
86 |
1,199 |
199 |
|
Germany |
19,420 |
4,634 |
166,755 |
32,104 |
|
Britain |
1,042 |
265 |
2,515 |
1,146 |
|
India |
3,191 |
788 |
17,555 |
2,550 |
|
Canada |
17,281 |
910 |
78,210 |
4,157 |
|
Italy |
18,145 |
8,832 |
63,414 |
35,348 |
|
Japan |
51,759 |
10,570 |
165,214 |
36,598 |
|
Korea |
1,726 |
765 |
11,997 |
5,638 |
|
Malaysia |
1,543 |
212 |
6,019 |
926 |
|
USA |
11,418 |
2,733 |
60,141 |
11,695 |
|
The Mainland of China |
1,342,050 |
110,944 |
7,217,518 |
539,770 |
|
Exports |
||||
|
Bangladesh |
79,800 |
7,108 |
268,807 |
31,054 |
|
Sri Lanka
|
1,511 |
295 |
4,880 |
701 |
|
Britain |
|
|
|
|
|
India |
2,360 |
663 |
7,402 |
2,915 |
|
Mexico |
972 |
111 |
1,638 |
576 |
|
Italy |
14 |
7 |
3,122 |
423 |
|
Thailand |
1,218 |
437 |
5,474 |
2,840 |
|
Turkey |
1,351 |
244 |
8,183 |
1,945 |
|
Vietnam |
2,441 |
536 |
7,408 |
1,773 |
|
USA |
1,121 |
152 |
6,169 |
872 |
|
The Mainland of China |
36,805 |
2,975 |
154,871 |
12,545 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures
have been rounded to the nearest final digit after summing up the constituent
trade figures.
We contacted with the subject through the supplied number +852-2728-8617, the relevant staff Mr. Lee introduced that the subject is locating the supplied address.
Since the Christmas Holidays, we suffered the some difficulties in our on-site visiting.
We will update on-site visit photos as soon as possible.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.65 |
|
UK Pound |
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.