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Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
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Name : |
JSR
LTD. |
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Registered Office : |
Room 1208, 12/F., |
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Country : |
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Date of Incorporation : |
22.09.2005 |
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Com. Reg. No.: |
36045125 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Importer, Exporter and Wholesaler of all kinds of Mobile Phone such as Music Phone, Mobile Phone, Qwerty Phone, Android OS Smartphone, C + G Qwerty Phone & Quad Band Qwerty Phone bearing the brand name “Inono”. subject is a Telecommunication
Enterprise specialized in R&D, production
and distribution of Wireless
Telecommunication Products. Subject also provides customers
with OEM/ODM services. |
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No. of Employees |
05 |
RATING & COMMENTS
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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.
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Source
: CIA |
JSR LTD.
Room 1208, 12/F., Lucida Industrial Building, 43-47 Wang Lung Street, Tsuen Wan, New Territories, Hong Kong.
PHONE: 852-3163 2349
FAX: 852-3741 0248
E-MAIL: info@jsr-tech.net
Managing Director: Ms. Lau Yin, Jess
Incorporated on: 22nd September, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 5.
Main Dealing Banker: DBS Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 1208, 12/F., Lucida Industrial Building, 43-47 Wang Lung Street, Tsuen Wan, New Territories, Hong Kong.
Associated
Company:-
Shenzhen Neoway Technology Co. Ltd., China.
36045125
0997066
Managing Director: Ms. Lau Yin, Jess
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 22-09-2013)
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Name |
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No.
of shares |
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LAU Yin |
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7,500 |
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WANG Kang |
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2,500 |
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––––– |
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Total: |
10,000 ===== |
(As per registry
dated 22-09-2013)
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Name (Nationality) |
Address |
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LAU Yin |
Flat A, 22/F., Block Tower South,
Chelsea Court, 100 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong. |
(As per registry
dated 22-09-2013)
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Name |
Address |
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WANG Kang |
F202, Cuizhuyuan, Wanke Sijihua Cheng, Shenzhen, China. |
The subject was incorporated on 22nd September, 2005 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: Importer, Exporter and Wholesaler.
Lines: All kinds of mobile phones
Brand Name: “Inono”.
Employees: 5.
Commodities Imported: China, etc.
Markets: China, other Asian countries, Europe, etc.
Terms/Sales: L/C, Advanced T/T, etc.
Terms/Buying: L/C, T/T, 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
Mortgage or
Charge:-
Date of Charge Over Deposits - CD1 (11a)
Amount: To secure the payment or discharge of all moneys, obligations and liabilities
Property:
1) By fixed Charge:
all the Company’s rights in respect of the following:-
(i) the sum(s) deposited by the Company or for its benefit in the account(s) or as evidenced by deposit
instrument(s) or other evidence of indebtedness specified in the schedule below, including renewals of such sums, and
(ii) all other sums in any currency from time to time standing to the credit of the Company or the credit of any other person for the Company’s benefit, on any account in the Company’s sole or joint names maintained with the Bank or any SCB Group Company including renewals of such sums
2) By assignment:
all Deposits held with any SCB Group Company
Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Profit or Loss: Making a small profit every year.
Condition Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
· DBS Bank (Hong Kong) Ltd., Hong Kong.
Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, JSR Ltd. is jointly owned by Ms. Lau Yin, holding 75% interests; Mr. Wang Kang, holding 25%. The former is a Hong Kong businesswoman. She is also the only director of the subject.
The subject is a mobile phone trader.
The subject is a telecommunication enterprise specialized in R&D, production and distribution of wireless telecommunication products. It also provides customers with OEM/ODM services.
The subject has had an associated company in Shenzhen Special Economic Zone, China known as Shenzhen Neoway Technology Co. Ltd. [Neoway] which is a China-based company. The phone number of Neoway is 86-755-2967 2166. The legal representative of Neoway is also Mr. Wang Kang who is a China businessman.
Neoway is a national high technology enterprise which focuses on M2M wireless communication products and services. Its headquarters are in Shenzhen, and it has offices in Beijing, Jinan, Hangzhou, Taiwan, Delhi and other cities of the world.
Neoway Technology focuses on the development of the demand of the wireless applications. It supplies professional WCDMA, EVDO, GPRS, CDMA 1X, short range wireless and other communication system industrial module and relative services.
Neoway is the first supplier to launch a single-chip industrial GPRS module in the world. Neoway has more than 40% M2M market share, and 75% of AMR market in China.
Neoway has around 100 qualified engineers in its R&D team is responsible for PCBA design, ID & MD design, software and hardware development for the telecommunication products.
Neoway’s R &D team has implemented the core and the latest technology of wireless communications into the development of mobile handset and some other telecom items. In recent years, the team has designed and developed over 30 stylish mobile handsets with advanced features, which has been highly appreciated by customers.
The subject is trading in the following products: Music Phone, Mobile Phone, Qwerty Phone, Android OS Smartphone, C + G Qwerty Phone & Quad Band Qwerty Phone. All the products bear the bran name “Inono”.
The subject’s business is chiefly handled by Ms. Lau Yin, Jess. Business is normal in Hong Kong.
As the history of the subject is over eight years and nine months in Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.22 |
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UK Pound |
1 |
Rs.102.79 |
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Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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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.