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Report No. : |
303397 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
JILI ENTERPRISE CO. LTD. |
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Registered Office : |
Room B9-A, Block B, 4/F., Mai Hing Industrial Building, 16-18 Hing Yip Street, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.04.2004 |
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Com. Reg. No.: |
34515530 |
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Legal Form : |
Private Limited Company. |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND MANUFACTURER OF ALL KINDS OF
UMBRELLAS, GIFT UMBRELLAS, PARASOLS |
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No. of Employee : |
5 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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.
|
Source
: CIA |
The subject is not located at “Shop 6, G/F., Chevalier Commercial Centre, 8 Wang Hoi Rod, Kowloon, Hong Kong” where is the address of DBS Bank (Hong Kong) Ltd. DBS Bank (Hong Kong) Ltd. is the subject’s banker.
JILI ENTERPRISE
CO. LTD.
ADDRESS: Room B9-A, Block B, 4/F., Mai Hing Industrial
Building, 16-18 Hing Yip Street, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2389 8599
FAX: 852-2389 8722
Managing Director: Mr. Shi Weili
Incorporated on: 30th April,
2004.
Organization: Private Limited Company.
Issued Share Capital: HK$100.00
Business Category: Importer,
Exporter and Manufacturer.
Employees: 5.
Main Dealing Banker: DBS
Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
JILI ENTERPRISE
CO. LTD.
Registered Head Office:-
Room B9-A, Block B, 4/F., Mai Hing Industrial Building, 16-18 Hing Yip
Street, Kwun Tong, Kowloon, Hong Kong.
Associated Companies:-
Jili International Ltd., Hong Kong.
Jili Umbrella Mfg. (Huizhou) Co. Ltd., China.
34515530
0898853
Managing Director: Mr. Shi Weili
HK$100.00
(As per registry
dated 30-04-2014)
|
Name |
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No. of shares |
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SHI Weili |
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100 === |
(As per registry
dated 30-04-2014)
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Name (Nationality) |
Address |
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SHI Weili |
Unit 605, 6/F., Lemmi Centre, 50 Hoi Yuen Road, Kwun Tong,
Kowloon, Hong Kong. |
(As per registry
dated 30-04-2014)
|
Name |
Address |
Co. No. |
|
ATA Corporate Formation & Management Ltd. |
Unit 1001, 10/F., Fourseas Building, |
0768611 |
The subject was incorporated on 30th April, 2004 as a private limited liability
company under the Hong Kong Companies Ordinance.
The subject moved to the present address in April 2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Manufacturer.
Lines: All
kinds of umbrellas, gift umbrellas, parasols, etc.
Brand Names: “JILI”, “U-LOVE”, and “REAL”.
Employees: 5.
Commodities Imported: China.
Markets: sian
countries, Europe, North America, New Zealand and Australia, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Share Capital: HK$100.00
Mortgage or charge:-
Date of Charge on Cash Deposit to Secure Liabilities of the
Depositor: 11-08-2011
Amount: All sums of
money and liabilities
Property:
1)
By way of first fixed charge and agreement to
charge: the Deposit and all right, title and interest of the Company
whatsoever, present and future, thereto and therein, together with any
certificates of deposit or other instruments or securities evidencing title, or
otherwise relating, thereto and any account to which the same is credited;
2)
By way of set-off: any sum standing to the credit
of any one or more or the accounts of the Company with the Bank
Mortgagee: DBS
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.
Banker: DBS Bank (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having issued 100 ordinary shares of HK$1.00 each, Jili Enterprise Co. Ltd.
is wholly owned by Mr. Shi Weili who is a China Merchant.
He is a China ID holder and does not have the right to reside in Hong
Kong permanently. He is also the only
director of the subject.
The subject is an umbrella trader and manufacturer. It has had an umbrella manufacturing factory
in China known as Jili Umbrella Mfg. (Huizhou) Co. Ltd. [Huizhou Jili] which is
a China-based company.
Huizhou Jili occupies an area of 10,000 sq.m. It is specialized in all kinds of umbrellas
of different style, size and qualities.
It is constantly innovating to provide better and more attractive
products to suit the ever-changing fashions and markets of the world. Its main markets are the United States,
Europe, Japan, Australia, South East Asian countries as well as China.
The subject has set up an office in Shanghai, China.
The followings are the main products of the subject: Bigger Size Golf
Umbrella, Portable Super Mini Umbrella, Golf Umbrella, Children Umbrella,
Folding Umbrella, Pattern Umbrella, Advertising Umbrella, etc.
The subject’s products bear the following brand names: “JILI”, “U-LOVE”, and “REAL”.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.
For instance, it took part in “Hong Kong Gifts & Premium Fair 2015”
which had been held in Hong Kong Convention and Exhibition Centre, Wanchai,
Hong Kong during the period of 27th to 30th April, 2015.
It also has taken part in ‘Style Hong Kong Show in Guangzhou’, Guangdong
Province, China.
As the history of the subject is over ten years and eight months in
Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.84 |
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|
1 |
Rs.93.26 |
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Euro |
1 |
Rs.71.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
-- |
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.