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Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
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Name : |
DIGICOLOUR SYSTEMS LTD. |
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Registered Office : |
C/o Forever Corporate Consulting Ltd., Flat A, 9/F., Silvercorp International
Tower, 707-713 Nathan Road, Mongkok, Kowloon. |
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Country : |
Hongkong |
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Date of Incorporation : |
01.03.2013 |
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Com. Reg. No.: |
61035838 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
· The subject is trading in the products of Jay Instruments. It is fully supported by Jaysynth Group · The subject’s business in Hong Kong is not active. History in Hong Kong is just over a year and seven months. (Note: We tried to confirm obtain the details activity but the same is not available from any source.) |
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No. of Employees : |
No employees in Hong Kong NOTE : It is to
be noted that the company does not have its own operating office in Hong Kong.
The company uses the address of its secretariat as its correspondence address
only. Subject operates from some other country and does not have a base in
Hong Kong. Such companies are registered in Hong Kong just to tax benefit
purpose and due to the strict privacy laws prevailing in the country. In such
cases, the companies are not required to have any employees in Hong Kong nor
do have an office there. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hongkong |
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Payment Behaviour : |
Unknown |
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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) |
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Hongkong |
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 |
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 |
(Formerly located at:-
c/o Hong Kong Secretarial Co.
Room 1004C, 10/F., Century Centre,
44 Hung To Road, Kwun Tong,
Kowloon, Hong Kong.)
DIGICOLOUR SYSTEMS
LTD.
Registered
Office:-
c/o Forever Corporate Consulting Ltd.
Flat A, 9/F., Silvercorp International Tower, 707-713 Nathan Road,
Mongkok, Kowloon, Hong Kong.
[Tel: 852-2110 1865; Fax:
852-2110 0996]
Holding Company:-
Jay Instruments & Systems Private Ltd., India.
Associated Companies:-
Cutch Chemicals Pvt. Ltd., India.
Great Pacific Exports Pvt. Ltd., India.
Jay Pesticides Pvt. Ltd., India.
Jaysynth (Europe) Ltd., UK.
Jaysynth Anthraquinoes Ltd., India.
Jaysynth Dyestuffs (India) Ltd., India.
Jaysynth Impex Ltd., India.
Jaysynth Polychem Pvt. Ltd., India.
JD Orgochem Ltd., India.
Jukaso Yarns Industries Pvt. Ltd., India.
Mariatu Health Solutions Pvt. Ltd., India.
61035838
1867492
1st March, 2013.
HK$100,000.00
(As per registry
dated 01-03-2014)
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Name |
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No. of shares |
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Jay Instruments & Systems Private Ltd. E-16, Everest, Tardeo Road, Mumbai – 400 034, Maharashtra, India. |
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100,000 ====== |
(As per registry
dated 01-03-2014)
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Name (Nationality) |
Address |
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Parag Sharadchandra KOTHARI |
62, Summer Ville, Bhulabhai Desai, Road, Mahalaxmi, Mumbai 400 026,
India. |
(As per registry
dated 01-03-2014)
|
Name |
Address |
Co. No. |
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Forever Corporate Consulting Ltd. |
Flat A, 9/F., Silvercorp International Tower, 707-713 Nathan Road,
Mongkok, Kowloon, Hong Kong. |
1330685 |
The subject was incorporated on 1st March, 2013 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Room 1004C,
10/F., Century Centre, 44 Hung To Road, Kwun Tong, Kowloon, Hong Kong where was
the operating office of a commercial service provider. It moved to the present address in April 2014
as it has changed its commercial service provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Digicolour Systems Ltd. was incorporated on 1st March, 2013 as a private
limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Flat A, 9/F., Silvercorp International Tower, 707-713
Nathan Road, Mongkok, Kowloon, Hong Kong known as Forever Corporate Consulting
Ltd. which is handling its correspondences and documents. This firm is also the
corporate secretary of the subject.
The subject’s registered address changed to the present one as it has
changed its commercial service provider.
Your given phone number is not a Hong Kong line.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
100,000 ordinary shares of HK$1.00 each of which are wholly owned by Jay
Instruments & Systems Private Ltd. [Jay Instruments] which is an
India-based company. The director of the
subject Mr. Parag Sharadchandra Kothari is an India merchant. He is also director of Jay Instruments.
The subject and its holding company belong to Jaysynth Group of
Companies. The Group business is
categorised into the following two:-
· Dyes, pigments and chemicals
· Industrial automation products (including weighing and measuring systems, laboratory instruments, digital textile printers, etc.)
The subject belongs to the second sector.
Jay Instruments is a part of Jaysynth Group with 25 years of experience
in manufacturing and selling quality scales and systems and marketing
sophisticated, high-tech instruments for diverse application.
Jay Instruments is a leading provider of industrial automation
solutions. Founded in 1987 in Mumbai, it
is an ISO 9001:2008 certified company with a highly qualified technical
workforce. Its key business divisions
are:-
· Industrial Weighing Solutions
· Colour, Light and Appearance Measurement
· Inspection Systems
· Laboratory Instruments
· Packaging Solutions
· Coding, Marking and Labelling Solutions
· Textile Lab Solutions
· Digital Textile Printing
etc.
In the Industrial weighing segment, the company primarily manufactures
equipment and systems featuring weighing, measurement and automation technology
for industrial applications. Its key
customers are from the pharmaceutical, chemical, food, cosmetic, paint,
lubricants and numerous other industries.
Jay Instruments has its own production facilities in Hubli, Karnataka
and as sales & service and channel partners in all the major cities of
India.
Jay Instruments represents a number of reputed international companies
in India to complement its own product range.
This enables it to offer turnkey end-to-end solutions that are at the
leading edge of technology. Each
business division has its own independent sales and service team that is
focused in its product area and solutions.
The subject is trading in the products of Jay Instruments. It is fully supported by Jaysynth Group
The subject’s business in Hong Kong is not active. History in Hong Kong is just over a year and
seven months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
NOTE:
It is to be
noted that the company does not have its own operating office in Hong Kong. The
company uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong Kong.
Such companies are registered in Hong Kong just to tax benefit purpose and due
to the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.35 |
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|
1 |
Rs.98.93 |
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Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.