MIRA INFORM REPORT
|
Report No. : |
323848 |
|
Report Date : |
29.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
JINGYE INTERNATIONAL (HK) COMPANY LIMITED |
|
|
|
|
Registered Office : |
Office A, 12/F, Teda Building, 87 Winglok
Street, Sheung Wan |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
02.09.2008 |
|
|
|
|
Com. Reg. No.: |
1269631 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of iron and steel products |
|
|
|
|
No. of Employee : |
About 5 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy
protests that began in late September probably will have some adverse effects
on economic growth, particularly retail sales.
|
Source
: CIA |
Contact
Points
|
Company Name (in English): |
Jingye International (HK) Company Limited |
|
Supplied Name: |
JINGYE INTERNATIONAL (HK) COMPANY LIMITED |
|
Trading Address: |
Office A, 12/F, Teda Building, 87 Winglok Street,
Sheung Wan, Hong Kong. |
|
Supplied Address: |
OFFICE A,12/F, TEDA BUILDING, 87 WINGLOK STREET SHEUNG WAN, HONG KONG |
Note: The exact name and address are as above. The supplied telephone
number (010-5764-5890) belongs to subject’s group company in the Mainland of
China.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Office A, 12/F,
Teda Building, 87 Winglok Street, Sheung Wan, Hong Kong. |
|
Telephone Number: |
+852-2854-9886 |
|
Fax Number: |
+852-2854-9887 |
|
E-mail: |
|
|
Date of Registration: |
2008-09-02 |
|
Registered Number: |
1269631 |
|
Business Registration No.: |
39744875 |
|
Paid-up Capital: |
HKD 30,000,000(USD 3,870,000) (As of 2015.5, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
67556--Flat-Rolled Products of Stainless
Steel, Not Further Worked Than Cold-Rolled, Width Less Than |
|
Principal Activities: |
Trading of iron and steel products. |
|
Staff: |
About 5 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-09-02 |
History
Subject was incorporated on 2008-09-02 with the
registered number 1269631 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Parent Company
|
Company Name: |
Hebei Jingye Iron and Steel Co., Ltd. (Literal Translation) |
|
Address: |
Nandian Town, Pingshan County, Hebei province,
China. |
|
Tel: |
+86-311-8288-8888 |
|
Fax: |
+86-311-8287-2215 |
Shareholder
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Hebei Jingye Iron and Steel Co., Ltd.
(Literal Translation) |
30,000,000 |
100% |
|
Total |
30,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Hebei Jingye Iron and Steel Co., Ltd.
(Literal Translation) |
|
Address: |
Nandian Town, Pingshan County, Hebei
province, China. |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Jia Huibin |
|
Address: |
No.36, Dist. 4, Dongqudi Village, Pingshan
Town, Pingshan County, Hebei province, China. |
|
Position: |
Director |
|
ID Number: |
132335197212070078 |
|
2 |
|
|
Name: |
Harris Secretaries Limited |
|
Address: |
8/F, Hong Kong Trade Center, No. 161-167,
Des Voeux Road Central, Hong Kong. |
|
E-mail: |
|
|
Position: |
Company Secretary |
|
Company Number: |
31138 |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Office A, 12/F, Teda Building, 87 Winglok
Street, Sheung Wan, Hong Kong. |
Premises
Information
Office address:
|
Address: |
Office A, 12/F, Teda Building, 87 Winglok
Street, Sheung Wan, Hong Kong. |
|
Owners: |
Gain Billion Limited |
|
Memorial Number: |
UB7321491 |
|
Date of Instrument: |
1997-09-01 |
|
Date of Registration: |
1997-11-04 |
|
Consideration Value: |
HKD 13,654,690.00 (PT.) |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
UB7272930 |
|
Date of Instrument: |
1997-08-26 |
|
Date of Registration: |
1997-09-25 |
|
Nature: |
Deed of Mutual Covenant and Management
Agreement |
|
In Favor of: |
A.G. Wilkinson and Associates Property
Management Limited "Manager" |
|
Consideration: |
-- |
|
2 |
|
|
Memorial No.: |
UB7189115 |
|
Date of Instrument: |
1997-07-07 |
|
Date of Registration: |
1997-08-01 |
|
Nature: |
Agreement for Sale and Purchase with Plans |
|
In Favor of: |
Gain Billion Limited |
|
Consideration: |
HKD 13,654,690.00 (PT.) |
|
3 |
|
|
Memorial No.: |
UB7280423 |
|
Date of Instrument: |
1997-09-01 |
|
Date of Registration: |
1997-09-30 |
|
Nature: |
Partial Release |
|
In Favor of: |
-- |
|
Consideration: |
-- |
Note: PT. means of part of.
Production
Information
Subject is a trader of iron and steel products without any production
activities.
It is introduced that subject’s group company has factories in Mainland
China for production.
Subject’s products obtained the certification of ISO 9001 and OHSMS.
Purchase
Information
The products of subject are mainly purchased from its related factories
of Mainland China.
Sales Information
Subject is engaged in sales of iron and steel products, etc.
The major products are iron ore, medium plate, deformed steel bars and
so on.
Subject also has chemical product (salicylic acid) and aspirin.
Subject’s sales regions include domestic market, Japan, Southeast Asia,
America, Australia and Europe, etc.
Subject’s major customers are Construction Company, iron and steel
equipment manufacturers, etc.
Settlements
Purchase
Domestic Purchase
|
Products |
Iron and steel products, etc. |
|
Payment Terms |
T/T, Cash, interior settlement, etc. |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Iron and steel products, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Iron and steel products, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Bankers
Open Account Bank
|
Name: |
Standard Chartered Bank (Hong Kong) Limited |
Public
|
Date: |
2014-04-14 |
|
Court Name: |
High Court Commercial Action |
|
Court No.: |
LBTC516 |
|
Claimant: |
Guo Yi (LBTC516/2014) (Parties) |
|
Defendant: |
Jingye International (HK) Company Limited (LBTC) (Parties) |
|
Nature: |
Not Stated |
|
2 |
|
|
Date: |
2014-03-12 |
|
Court Name: |
High Court Commercial Action |
|
Court No.: |
516 |
|
Claimant: |
(Guo Yi) (LBTC516/2014) (Parties) |
|
Defendant: |
Jingye International (HK) Company Limited (LBTC) (Parties) |
|
Nature: |
Not Stated |
Mortgage Record
|
1 |
|
|
Company Name: |
Jingye International (HK) Company Limited |
|
Instrument of Creating Mortgage: |
Pledge Confirmation (the “Conformation”) |
|
Date of Creating Mortgage: |
2014-02-13 |
|
Amount Secured: |
As a continuing security for the full and
punctual payment of the Secured Indebtedness and performance of its other
obligations by the Pledgor in accordance with the Credit Agreement. |
|
Name of Mortgagee: |
Standard Chartered Bank (Hong Kong) Limited
(Pledgee) |
|
Address of Mortgagee: |
9th Floor, Standard Chartered
Bank Building 4-4A Des Voeux Road Central, Hong Kong. |
|
Description of Property Mortgaged: |
First priority pledge in favour of the
Pledgee over CNY103, 452,132.05 being the amount to be deposited into the
Pledge Account, to secure the Secured Indebtedness. |
|
2 |
|
|
Company Name: |
Jingye International (HK) Company Limited |
|
Instrument of Creating Mortgage: |
Security Agreement over Bank Account (the
“Deed”) |
|
Date of Creating Mortgage: |
2014-01-10 |
|
Amount Secured: |
All present and future obligations and
liabilities (whether actual or contingent and whether owed jointly or severally
or in any other capacity whatsoever) of the Chargor to the Bank or to any
other company of the Standard Chartered group being Standard Chartered Bank
(including its branches) ("SCB"), the Holding Company, Subsidiary
or associated company of SCB (each a ”SCB Group Company") anywhere (the
"Secured Liabilities"). |
|
Name of Mortgagee: |
Standard Chartered Bank (Hong Kong) Limited |
|
Address of Mortgagee: |
9th Floor, Standard Chartered
Bank Building 4-4A Des Voeux Road Central, Hong Kong. |
|
Description of Property Mortgaged: |
The charger, as beneficial owner, charges by
way of a first fixed charge all of rights in respect of any amounts standing
to the credit of the account from time to time and the debt represented to
it. The Chargor, by way of security, irrevocably
and severally appoints the Bank and any of its delegates or sub-delegates to
be its attorney to take any action which the Chargor is obliged to take under
the Deed. The Chargor ratifies and confirms whatever any attorney does or purports
to do under its appointment pursuant to Clause 12 of the Deed. The power of
attorney hereby created is granted irrevocably and for value to secure
proprietary interests of and performance of obligations owed by the Chargor
within the meaning of Section 4 of the Powers of Attorney Ordinance (Chapter
31 of the Laws of Hong Kong). |
|
3 |
|
|
Company Name: |
Jingye International (HK) Company Limited |
|
Instrument of Creating Mortgage: |
Pledge over Deposit and Account Management
Agreement (the "Pledge") |
|
Date of Creating Mortgage: |
2014-01-10 |
|
Amount Secured: |
As a continuing security for the full and
punctual payment of the Secured Indebtedness and performance of its other
obligations by the Obligor in accordance with the Credit Agreement. |
|
Name of Mortgagee: |
Standard Chartered Bank (Hong Kong) Limited
(Pledgee) |
|
Address of Mortgagee: |
9th Floor, Standard Chartered
Bank Building 4-4A Des Voeux Road Central, Hong Kong. |
|
Description of Property Mortgaged: |
The Pledgor hereby grants a first priority
pledge in favour of the Pledgee over all the Pledged Assets and all related
rights and interests. |
|
4 |
|
|
Company Name: |
Jingye International (HK) Company Limited |
|
Instrument of Creating Mortgage: |
Deed of Charge |
|
Date of Creating Mortgage: |
2014-01-13 |
|
Amount Secured: |
All moneys and liabilities whatsoever which
now are or at any time hereafter (whether on or after any such demand) may be
due, owing or payable, in any currency, to the Bank (at any branch whether in
or outside Singapore) by the Company, actually or contingently, solely or
jointly and/or severally with another or others, as principal or surety, for
any reason and on any account, with reference to any bill, note or other
security, in connection with any advance, loan, credit, guarantee or
indemnity made or issued to or at the request of the Company, or in any other
manner whatsoever, and including all debts and liabilities due or owing by
the Company which may now or thereafter from time to time be acquired by or
assigned to the Bank from whomsoever, in each case together with commission,
discount and all banking, legal and other costs, charges and expenses
whatsoever (on a full indemnity basis), and also in each case together with
interest on the foregoing and so as to include also any moneys or liabilities
owing or payable under the Deed of Charge. Interest payable in relation to the above
paragraph shall be computed and compounded according to the usual practice
for the time being of the Bank and shall be payable as well after as before
any demand made or judgment obtained under the Deed of Charge. |
|
Name of Mortgagee: |
BNP Paribas (which shall include its
successors and assigns) (the “Bank”) |
|
Address of Mortgagee: |
20 Collyer Quay, # 01-01 Tung Centre,
Singapore 049319 |
|
Description of Property Mortgaged: |
The Company charges to the Bank by way of first
fixed charge all its rights, title and interest in and to all Goods, Good
Documents, Credit Balances, and absolutely assigns and charges to the Bank by
way of first fixed security all, Contract Rights, all its rights, title,
benefits and interest in and to the Receivables and the benefit of any
Security Interest and securities for the time being held by the Company in
respect of any such Contract Rights and/or Receivables. |
Special
Note
Interview Details
|
Name |
Mr. Zhao |
|
E-mail: |
|
|
Department: |
Sales Department |
Industry
Information
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Belgium |
41,562 |
856 |
156,436 |
3,218 |
|
Germany |
25,330 |
397 |
55,609 |
3,387 |
|
Spain |
23,704 |
540 |
311,592 |
5,557 |
|
Finland |
-- |
-- |
67,646 |
1,261 |
|
Taiwan |
837,551 |
19,975 |
8,113,528 |
227,108 |
|
The Mainland of China |
140,236 |
4,443 |
3,073,198 |
85,536 |
|
Exports |
||||
|
United Arab Emirates |
-- |
-- |
10,151 |
191 |
|
Malaysia |
371 |
99 |
139,503 |
2,904 |
|
USA |
50,888 |
1,270 |
139,671 |
3,612 |
|
Taiwan |
3,524 |
383 |
12,970 |
572 |
|
Kingdom of Saudi Arabia |
-- |
-- |
37,012 |
854 |
|
Indonesia |
6,462 |
164 |
8,991 |
244 |
|
Chile |
|
|
|
|
|
The Mainland of China |
1,910,728 |
62,644 |
24, 959,855 |
823,663 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the
nearest final digit after summing up the constituent trade figures.
Attachment
Address: Office A, 12/F, Teda
Building, 87 Winglok Street, Sheung Wan, Hong Kong.
Teda Building, 87 Winglok Street, Sheung Wan,
Hong Kong
%20COMPANY%20LIMITED%20-%20323848%2029-May-2015_files/image010.jpg)
Office A, 12/F, Teda Building, 87 Winglok
Street, Sheung Wan, Hong Kong
%20COMPANY%20LIMITED%20-%20323848%2029-May-2015_files/image011.jpg)
Office A, 12/F, Teda Building, 87 Winglok
Street, Sheung Wan, Hong Kong
%20COMPANY%20LIMITED%20-%20323848%2029-May-2015_files/image012.jpg)
--------- End of the
Report ----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
|
|
1 |
Rs.98.16 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
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 |
|
<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.