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Report Date : |
19.07.2014 |
IDENTIFICATION DETAILS
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Name : |
CJ CHINA LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
05.07.1994 |
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Com. Reg. No.: |
18322301 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, exporter and wholesaler of chilled and frozen
foodstuffs, fruit, vegetable, chemicals, pharmaceuticals, cosmetics,
agro-products, packaging machinery |
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No. of Employees |
07 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
CJ CHINA LTD.
ADDRESS: Suite 3003, 30/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
PHONE: 852-2802 9909
FAX: 852-2866 1351
E-MAIL: shindk@cj.net
Managing Director: Mr. Kwon Kyung Min
Incorporated on: 5th July, 1994.
Organization: Private Limited Company.
Capital: Nominal:HK$1,500,000.00
Issued: HK$1,500,000.00
Business Category: Importer, Exporter and Wholesaler.
Group Sales: KRW 10,847,718,244 (Year ended 31-12-2013)
Employees: 7.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Suite 3003, 30/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
Holding Company:-
CJ CheilJedang Corp., South Korea.
Ultimate Holding
Company:-
CJ Corporation, South Korea.
Associated/Affiliates/Subsidiaries
Companies:-
CJ CheilJedang Group
of Companies
Annie Chun’s Inc., USA.
Arkema Thiochemicals Malaysia Sdn.Bhd., Malaysia.
Beijing Ershang CJ Foods Co. Ltd., China.
Chef One Corporation, USA.
CJ & HACL Foodtech Co. Ltd., Korea.
CJ (Shenyang) Biotech Co. Ltd., China.
CJ 500 South State College Inc., USA.
CJ Act Pty. Ltd., Australia.
CJ America Inc., USA.
CJ Beijing Bakery Co. Ltd., China.
CJ Beijing Beverage Co. Ltd., China.
CJ Beijing Foods Co. Ltd., China.
CJ Bio America Inc., USA.
CJ Bio Malaysia Sdn. Bhd., Malaysia.
CJ CGV Co. Ltd., South Korea.
CJ Changchun Feed Co. Ltd., China.
CJ Changsha Feed Co. Ltd., China.
CJ Cheiljedang Mexico, Mexico.
CJ Chengdu Feed Co. Ltd., China.
CJ Corp., USA.
CJ DCH Guangdong Frozen Food Co. Ltd., China.
CJ do Brasil Ltda., Brazil.
CJ Dondonfarm Co. Ltd., Korea.
CJ Europe GmbH, Germany.
CJ Feed India Private Ltd., India.
CJ Food Europe Ltd., UK.
CJ Foods Inc., USA.
CJ Foodville Corp., South Korea.
CJ Freshway Corporation, South Korea.
CJ Global Holdings Ltd., Hong Kong.
CJ GLS (S) Infotech Pte. Ltd., Singapore.
CJ GLS (S) Shipping Pte. Ltd., Singapore.
CJ GLS Asia Pte. Ltd., Singapore.
CJ GLS Hong Kong Ltd., Hong Kong.
CJ Harbin Feed Co. Ltd., China.
CJ Hellovision Co. Ltd., South Korea.
CJ Hongkong Ltd., Hong Kong.
CJ International Trading Co. Ltd., China.
CJ Japan Corp., Japan.
CJ Korea Express Busan Container Terminal Co. Ltd., Korea.
CJ Korea Express Busan Newport Distripark Co. Ltd., Korea.
CJ Korea Express Corporation, Korea.
CJ Korea Express Dongguan Co. Ltd.,China.
CJ Korea Express Incheon Container Terminal Co. Ltd., Korea.
CJ Liaocheng Biotech Co. Ltd., China.
CJ Liaocheng Feed Co. Ltd., China.
CJ M Kitchen Co. Ltd., South Korea.
CJ MD1 Co. Ltd., Korea.
CJ Nanjing Feed Co. Ltd., China.
CJ Nutracon Pty. Ltd., Australia.
CJ O Shopping Co. Ltd., Korea.
CJ Omni Inc., USA.
CJ Pacific Corporation, USA.
CJ Pharma Research India Pvt. Ltd., India.
CJ Philippines Inc., Philippines.
CJ Qingdao Feed Co. Ltd., China.
CJ Qingdao Foods Co. Ltd., China.
CJ Se Asia Pte. Ltd., Singapore.
CJ Seafood Corporation, Korea.
CJ Shenyang Feed Co. Ltd., China.
CJ Systems Co. Ltd., South Korea.
CJ Tianjin Feed Co. Ltd., China.
CJ Toyota Tsusho Philippines Inc., Philippines.
CJ Venture Investment No. 13 New Wave Fund, Korea.
CJ Vina Agri Co. Ltd., Vietnam.
CJ Vina Food Co. Ltd., Vietnam.
CJ Yihai (Kunshan) Foodstuffs Co. Ltd., China.
CJ Zhengzhou Feed Co. Ltd., China.
CJGLS Co. Ltd., South Korea.
CNK World Logistics Co. Ltd., Korea.
Conpac Warehousing Pte. Ltd., Singapore.
Daesan Port Operating Co. Ltd., Korea.
Darby CJ Genetics Co. Ltd., Vietnam.
DCT Co. Ltd., Korea.
Dong Seok Logistics, Korea.
Ebara CJ Fresh Foods Inc., Japan.
Gumbo DDF Co. Ltd., Korea.
Gunsan Container Terminal, Korea.
Gwangyang West Container Terminal Co. Ltd., Korea.
Han Won Co. Ltd., Korea.
Hi Won Ltd., Korea.
IC Logistics Co. Ltd., Korea.
Incheon North Port Bulk Terminal, Korea.
Incheon South Port Operating Co. Ltd., Korea.
Jung-Bu Integrated Freight Terminal Co. Ltd., Korea.
Ke-Cati Logistics Co. Ltd., Korea.
Korea Express Europe GmbH, Germany.
Korea Express Hong Kong Co. Ltd., Hong Kong.
Korea Express Japan Co. Ltd.,Japan.
Korea Express Saigon Port Co. Ltd., Vietnam.
Korea Express Shanghai Co. Ltd., China.
Korea Express Tianjin Co. Ltd., china.
Korea Express USA Inc., USA.
Korea Integrated Freight Terminal Co. Ltd., Korea.
Korex Packsimex Co. Ltd., Vietnam.
Korex Saigon Logistics Co. Ltd., Vietnam.
Kumho Logistics Shanghai Ltd., China.
Kumho Resort Co. Ltd., Korea.
Liaocheng Lantian Cogenerations Plant Co. Ltd., China.
Lucky Union Foods Co. Ltd., Thailand.
O Media Holdings Co. Ltd., South Korea.
Phil-Kor Holdings Co. Inc., Philippines.
PNCT New Container Terminal, Korea.
Pohang Port 8th Terminal Operating Co. Ltd., Korea.
Pohang Yeongilman Port Operating Co. Ltd., Korea.
PT Agrobis Panca Ekatama, Indonesia.
PT Cheil Jedang Indonesia, Indonesia.
PT Cheil Jedang Superfeed, Indonesia.
PT CJ Cheiljedang Lestari, Indonesia.
PT CJ Feed Jombang, Indonesia.
PT Super Unggas Jaya, Indonesia.
PT. CJ Pia, Indonesia.
Qingdao CJ GLS Inc., China.
Shanghai Inchon Int’l Ferry Co. Ltd., China.
Shanghai SMG-CJ Homeshopping Co. Ltd., China.
Shinuido Solar Salt Corporation, Korea.
Sichuan Jixiangiu Food Co. Ltd., China.
Terminal Operating Co. Ltd. of masan Port-Pier 4, Korea.
The 7th Terminal of Gunsan Port Operating Co. Ltd., Korea.
The 8th Terminal of IncheonPort Operating Co. Ltd., Korea.
Tianjin CJ Home Shopping Co. Ltd., China.
TMI Trading Corp.,USA.
Twin Marquis Inc., USA.
Ulsan Port Operating Co. Ltd., Korea.
Water Pipeline Works Ltd., USA.
Won Ji Co. Ltd., Korea.
Youngwoo Frozen Foods Co. Ltd., Korea.
etc.
18322301
0484529
Managing Director: Mr. Kwon Kyung Min
Nominal Share Capital: HK$1,500,000.00 (Divided into 300 shares of HK$5,000 each)
Issued Share Capital: HK$1,500,000.00
SHAREHOLDERS: (As per registry dated 05-07-2013)
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Name |
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No. of shares |
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CJ CheilJedang Corp. Smartplex (CJ Building), 292, Ssangrim-dong, Jung-gu, Seoul, 100-400, Korea. |
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299 |
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SHIN Dong Ki |
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1 |
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–––– |
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Total: |
300 === |
DIRECTORS: (As per registry dated 27-03-2014)
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Name (Nationality) |
Address |
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KWON Kyung Min |
Flat B, 19/F., Tower 5, Grand Promenade, 38 Tai Hong Street, Hong Kong. |
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SHIN Dong Ki |
Flat A, 27/F., Tower 2, Leighton Hill, 2B Broadwood Road, Hong Kong. |
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ANN Byoung Woo |
987 BT Timah Road, #05-12 Maplewoods, Singapore 589628. |
SECRETARY: Kwon Kyung Min (As per registry dated 05-07-2013)
The subject was incorporated on 5th July, 1994 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Cheil Hong Kong Ltd., name changed to CJ Hongkong Ltd. on 3rd September, 1996 and further changed to the present style on 26th March, 2004.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Chilled and frozen foodstuffs, fruit, vegetable, chemicals, pharmaceuticals, cosmetics, agro-products, packaging machinery
Employees: 7.
Commodities Imported: Europe, North America, South America, other Asian countries, etc.
Markets: Hong Kong, South Korea, other Asian countries, etc.
Group Sales: KRW 6,538,208,074 (Year ended 31-12-2011)
KRW 9,877,532,183 (Year ended 31-12-2012)
KRW 10,847,718,244 (Year ended 31-12-2013)
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$1,500,000.00 (Divided into 300 shares of HK$5,000 each)
Issued Share Capital: HK$1,500,000.00
Group Net Income: KRW 314,022,590 (Year ended 31-12-2011)
KRW 310,715,670 (Year ended 31-12-2012)
KRW 71,061,595 (Year ended 31-12-2013)
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.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 300 ordinary shares of HK$1.00 each, CJ China Ltd. is a wholly owned subsidiary of CJ CheilJedang Corp. which is a South Korea-based company. Its ultimate holding company CJ Corporation [CJ Group] is also a South Korea-based firm.
The subject is the Hong Kong sales and marketing office of CJ Group’s products.
The directors of the subject Mr Kwon Kyung Min and Mr. Shin Dong Ki are South Korean while both of whom have been in Hong Kong for a very long time. Both are Hong Kong ID card holders and currently residing in Hong Kong. A new director Mr. ANN Byoung Woo was appointed on 2 December, 2013.
The subject has had an associated company CJ Global Holding Ltd., a Hong Kong-registered firm, located at the same address.
The subject distributes bio-products, pharmaceuticals, agro-commodities, chemical products, processed foods, cosmetics, and detergents in China. The subject also offers equipment, including photo machines, spare parts, and filters; and industrial machinery, which include packaging machinery, water dispensers, and generators. In addition, it provides Internet-based trading that allows clients in buying and selling of products.
The subject has had operations in South Korea, Indonesia, Myanmar, Japan, Germany, Thailand, Vietnam, the United States, and the United Kingdom.
The subject operates as a subsidiary of CJ Corp.
The consolidated sales turnover of CJ Group for the FY2013 amounted to KRW 10,847.7 million, grew by 9.8% as compared with KRW 9,877.5 million in FY 2012. Net income for the year was KRW 71.1 million, decreased by 77.1% as compared with KRW 310.7 million in FY2012.
The subject is fully supported by the CJ Group. History in Hong Kong is over twenty years. On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.33 |
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|
1 |
Rs.103.18 |
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Euro |
1 |
Rs.81.58 |
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.