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Report No. : |
351211 |
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Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
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Name : |
L & J INDUSTRIAL CO. |
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Registered Office : |
3/F., CNT Commercial Building, 302 Queen’s Road Central, Sheung Wan |
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Country : |
Hong Kong
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Date of Incorporation : |
07.09.1995 |
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Com. Reg. No.: |
19309578-000-09 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of Mannequin and Mannequin Parts (Head with Human Hair), Hair Products. |
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No. of Employees : |
15 |
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 |
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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 12.5% 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 |
L & J INDUSTRIAL CO.
ADDRESS: 3/F., CNT Commercial
Building, 302 Queen’s Road Central, Sheung Wan, Hong Kong.
PHONE: 852-2557 2449,
2558 2833, 2558 3890
FAX: 852-2897 0125
E-MAIL: lnj@lnjmanikins.com
linda@lnjmanikins.com
lbg@lindabeautygroup.com
MANAGEMENT:
Manager: Ms. Yip Wai Mun, Linda
Establishment: 7th September, 1995.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer,
Exporter and Wholesaler.
Employees: 15.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
L & J
INDUSTRIAL CO.
Registered Head
Office:-
3/F., CNT Commercial Building, 302 Queen’s Road Central,
Sheung Wan, Hong Kong.
Associated
Companies:-
Joyful Queen Hair Beauty Products Ltd., China.
Joyful Queen Hair Products (Xuchang) Co. Ltd., China.
Joyful Queen Investment Ltd., Hong Kong.
Joyful Queen Ltd., Hong Kong.
Joyful Queen Trading Ltd., Hong Kong.
L & J Hair Beauty Products Factory, China.
L & J Hair Beauty Products Ltd., Hong Kong. (Same address)
Linda Beauty Group Ltd., Hong Kong.
(Same address)
The Linda Yip Charitable Foundation Ltd., Hong Kong.
The Stone Spa Health Group Co. Ltd., Hong Kong.
TONI & GUY Hair Dressing Ltd., China.
19309578-000-09
Manager: Ms. Yip Wai Mun, Linda
Contact Person: Ms. Sheila Chan
Name: Ms. YIP Wai Mun
Residential Address: 2/F.,
Clement Court, 58 Mount Butler Road, Jardine’s Lookout, Hong Kong.
The subject was established on 7th September, 1995 as a sole
proprietorship concern owned by Ms. Yip Wai Mun under the Hong Kong Business
Registration Regulations.
Initially the subject was located at Flat A, 6/F., Nan Fung Industrial
Building, 7 Cheung Lee Street, Chai Wan, Hong Kong, moved to Unit 6-8, 3/F.,
Cheung Tat Centre, 18 Cheung Lee Street, Chai Wan, Hong Kong in September
1997. In April 2012, the subject moved
to the present address.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Mannequin
and mannequin parts (head with human hair), hair products.
Employees: 15.
Commodities Imported: Europe,
China.
Markets: Japan,
North America, Taiwan. Western Europe.
Terms/Sales: T/T,
L/C or as per contracted.
Terms/Buying: T/T, L/C, D/P.
Capital: Not
disclosed.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
manner.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Wing Hang Bank Ltd.,
Hong Kong.
Standing: Small.
L & J Industrial Co. is a sole proprietorship set up and owned by
Ms. Linda Yip Wai Mun who is a Hong Kong businesswoman. She is also the manager of the subject.
The subject has had an associated company Linda Beauty Group Ltd.
located at its operating address. The
subject and Linda Beauty Group Ltd. are engaged in the same lines of business,
more or less. The subject belongs to
Linda Beauty Group.
Linda Beauty Group is a renowned leading service provider in the hair
industry which is specialized in diversified aspects including research and
development, manufacture, promotion, exhibition, as well as education and
training.
Being the pioneer in the industry since 1979, Linda Beauty Group has
been highly prestigious both locally and in China. It has had business partners in 20 countries
throughout the world. The establishment
of TONI & GUY (Northern China) Academy and Hair Salon in Beijing have given
a further boost to the hair industry in China.
The subject is carrying the following brand names: “TONI&GUY”, “label.m”, “DENMAN”, “BLOWW”, “TSUBAME”, “Jaguar”, “Salon Superintend”, “HAIRCHITECT”, “BALMAIN”, “PARLUX”.
The subject has had an associated company L & J Hair Beauty Products
Ltd. which is one of the subsidiaries of the Group. This firm is engaged in multi-faceted
research and development. It has been
also specialized in designing and manufacturing mannequins’ heads &
equipment for both beauty school and hair institutes since 1979. Its products are made of 100% natural human
hair and is carefully implanted by hand.
Another subsidiary of Linda Beauty Group, Joyful Queen Hair Products
(Xuchang) Co. Ltd. is engaged in manufacturing hair beauty products. This factory is in Xuchang, Henan Province,
China and covers an area of over 135,000 sq.m.
This factory is the principal manufacturing base of the Group.
In 2000, the Group set up Joyful Queen Hair Beauty Products Ltd. which
is in Guangzhou City, Guangdong Province, China [Guangzhou company]. The Guangzhou company is responsible for
marketing the Group’s products in China.
It is the headquarters of the Group in China.
The Group now has set up its sales network in China since 2000. The overall business of the Group in China is
satisfactory.
The subject has had another associated organization known as The Linda
Yip Charitable Foundation Ltd. [LYCFL].
LYCFL was established in 2008 by Ms. Linda Yip Wai Mun.
The business of the Group is administered by Ms. Linda Yip and her
nephew Mr. Andy Yip. However, the
subject’s business is chiefly handled by Linda Yip herself. History is over twenty years and two months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.55 |
|
|
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.70.70 |
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HKD |
1 |
Rs.8.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.