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Report No. : |
354132 |
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Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
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Name : |
YBS ZIPPER (HK) CO. LTD. |
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Registered Office : |
Workshop Unit 22, 6/F., Block A, Hoi Luen
Industrial Centre, 55 Hoi Yuen Road, Kowloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.12.1995 |
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Com. Reg. No.: |
19524413 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, exporter and wholesaler of all
kinds of zipper. |
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No. of Employee : |
7 |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
YBS ZIPPER
(HK) CO. LTD.
Workshop Unit 22, 6/F., Block A, Hoi Luen
Industrial Centre, 55 Hoi Yuen Road, Kowloon, Hong Kong.
PHONE: 852-2311 0053
FAX: 852-2369 2641
MANAGEMENT:
Managing Director: Mr. Kim Doo Ki
Incorporated on: 5th
December, 1995.
Organization:
Private Limited
Company.
Issued Share Capital: HK$2.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
7.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Workshop Unit 22, 6/F., Block A, Hoi Luen
Industrial Centre, 55 Hoi Yuen Road, Kowloon, Hong Kong.
Associated Companies:-
New World YBS Co. Ltd., South Korea.
Qingdao YBS Zipper Co. Ltd., China.
YBS (Shanghai) International Trading Co.
Ltd., China.
YBS Zipper (Dongguan) Co. Ltd., China.
YBS Zipper (Hangzhou) Co. Ltd., China.
YBS Zipper (Suzhou) Co. Ltd., China.
YBS Zipper Co. Ltd., South Korea.
19524413
0532639
Managing Director: Mr. Kim Doo Ki
HK$2.00
(As per registry dated 05-12-2014)
|
Name |
|
No. of shares |
|
LEE Kee Bin |
|
1 |
|
LEE Yong Jun |
|
1 |
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– |
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Total: |
2 = |
(As per registry dated 05-12-2014)
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Name (Nationality) |
Address |
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LEE Kee Bin |
115-10, Chungdam-Dong, Kangnam-Ku, Seoul,
Korea. |
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LEE Yong Jun |
115-10, Chungdam-Dong, Kangnam-Ku, Seoul,
Korea. |
|
PARK Se Jeong |
Flat A, 25/F., Block 27, Laguna City, 10
East Laguna Street, Kowloon, Hong Kong. |
|
KIM Doo Ki |
Flat B, 6/F., 87 Broadway, Mei Foo Shn
Chuen, Kowloon, Hong Kong. |
(As per registry dated 05-12-2014)
|
Name |
Address |
Co. No. |
|
Esmond Leung Accounting & Management
Ltd. |
12/F., San Toi Building, 137-139 Connaught
Road Central, Hong Kong. |
0376774 |
The subject was incorporated on 5th December,
1995 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 zipper.
Employees: 7.
Commodities Imported: China, South Korea
Markets: Hong
Kong, other Asian countries, Europe
Terms/Sales:
L/C or as per
contracted.
Terms/Buying:
L/C, T/T, D/P
Issued Share Capital:
HK$2.00
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory condition.
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:
Good.
YBS Zipper (HK) Co. Ltd. is equally owned by
two South Korean, Mr. Lee Kee Bin and Mr. Lee Yong Jun. The managing director of the subject
Mr. Kim Doo Ki is a Hong Kong ID holder and has got the right to reside in
Hong Kong permanently.
Your given number 852-2369 2641 is the fax
number of the subject while 0124-4084809 is not a valid phone number in Hong
Kong.
The subject is one of the Group members of
YBS Zipper Group [YBS Zipper/ Group].
The Group is trading in all kinds of zippers. Its products are categorised in the following
five:
·
Coil Zippers
·
Metal Zippers
·
Plastic Zippers
·
Slider
·
Special Tap
YBS Zipper has been in technology cooperation
with International Fine article good zipper production. YBS, a world brand, was set up in 1989 and
has become the second largest zipper brand in the world through continuous
technology Research & Development.
The Group has official registration rights in 38 countries and is
exporting its products to 139 countries or regions now.
YBS zipper has been nominated as reliable
sub-material by Big Merchandise Companies in Europe and the United States:
WAL-MART, K mart, C & A (Mondial), Gallery, K & R Sportswear Inc.,
Walter Jerome Inc., G –III, David Peyser Sports Wear Inc., Andrew. Marc, JC Penny,
Arcadia Group Brands Ltd.
YBS zippers’ quality has been certified by
the world authoritative testing institutes: Better Fabrics Testing Bureau in
the United States, Intertek Testing Services Hong Kong Ltd., TNO centre for
Leather and Shoe Research (Holland) and Korea Textile Inspection & Testing
Institute. All its products are in
conformity with the standards of the ASTM, JIS, KS and Öko-Tex.
The Group’s China factory YBS Zipper
(Dongguan) Co. Ltd. was founded in 1997.
It is engaged in producing and supplying all series of YBS standard
zippers, Plastic Fasteners, Metal Fasteners (Polyester) Coil Fasteners,
Invisible Coil Fasteners and K-ZIP.
The total investment of the factory was
approximate HK$10 million and its annual sales is over HK$40 million. This factory has had the exclusive rights to
manufacture YBS zippers in the southern China.
Its business is active.
Besides the Dongguan factory, the Group now
has set up other factories in China such as in Suzhou of Jiangsu Province,
Hangzhou of Zhejiang Province and Qingdao of Shandong Province.
The Group also has set up a trading company
in Shanghai, China. Products are
marketed in China and exported to worldwide countries by this company.
According to the subject, it is going to set
up more distribution centres in the United States and Europe in order to
penetrate these markets further.
As the history of the subject is over 20
years in Hong Kong, on the whole, consider it good for normal credit
requirements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.04 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.73.93 |
|
HKD |
1 |
Rs.8.64 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
|
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 |
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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 |
|
-- |
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.