MIRA INFORM REPORT
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Report No. : |
342262 |
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Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
YAGI TSUSHO HONG KONG LIMITED |
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|
|
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Registered Office : |
Unit 913, 9/F, Miramar Tower, 132, Nathan Road, Kowloon |
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|
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Country : |
Hong Kong |
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|
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Date of Incorporation : |
49545 |
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|
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Com. Reg. No.: |
01.10.1976 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business : |
Trading of apparel raw
material |
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|
|
|
No. of Employees : |
About 15 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 |
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|
|
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Payment Behaviour : |
Unknown |
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|
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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 |
Company
name and address
|
Company
Name (in English): |
Yagi
Tsusho Hong Kong Limited |
|
Supplied
Name: |
YAGI
TSUSHO HONG KONG LTD |
|
Trading
Address: |
Unit
913, 9/F., Miramar Tower, 132 Nathan Road, Kowloon, Hong Kong |
|
Supplied
Address: |
UNIT
913, 9/F MIRAMAR TOWER 132, NATHAN ROAD, TSIM SHA TSUI KOWLOON |
Note:
The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
|
|
Telephone Number: |
+852-2314-2138 |
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Fax Number: |
+852-2314-9481 |
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Date of Registration: |
1976-10-1 |
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Registered Number: |
49545 |
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Business Registration No.: |
04881937 |
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Paid-up Capital: |
HKD 10,000,000 (USD 1,290,000) = 100,000 Shares @
HKD 100 (As of 2015.09, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
65113 - Yarn of Combed Wool, Containing 85% or
More By Weight of Wool, Not for Retail Sale (Kg) |
|
Principal Activities: |
Trading of apparel
raw material |
|
Staff: |
About 15 employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-10-1 |
History
Subject was incorporated on 1976-10-1 with the
registered number 0049545 as Private Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2011-5-11 |
Yagi Tsusho Hong Kong Limited |
|
1977-2-8 |
Yagi Tsusho (Hong Kong) Limited |
|
1976-10-1 |
Yagi Tsusho (Hong Kong) Limited |
Corporate
Structure
Major Related Company
|
1 |
|
|
Name: |
Yagi Tsusho (Shanghai) Ltd. |
|
Address: |
Room 1605 Shanghai Mart, 2299 Yan’an Road (West), Shanghai,
P.R. of. China 200336 |
|
Tel: |
+86-21-6236-6630 |
|
2 |
|
|
Name: |
Zhejiang Yagi Garments Ltd. |
|
Address: |
293, Kuaiji Road, Shaoxing City, Zhejiang, China |
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Tel: |
+86-575-8836-2459 |
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3 |
|
|
Name: |
Shanghai Yagi Hi-Fashion Co., Ltd. |
|
Address: |
188, Shangzhou Road, Shangta, Jinze Town, Qingpu
Country, Shanghai, P.R. of. China |
|
Tel: |
+86-21-5928-1884 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Yagi Tsusho Limited |
99,999 |
100% |
|
Masahiro Hirano |
1 |
0 |
|
Total |
100,000 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Yagi Tsusho Limited |
|
Address: |
3-1-9, Kitahama, Chuo-ku, Osaka, 541-0041, Japan |
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2 |
|
|
Name: |
Masahiro Hirano |
|
Address: |
Room 1301, 5-30-1 Minamitanabe, Higashisumiyoshi,
Osaka City, Japan |
Management
Information
Core Management
|
1 |
|
|
Name: |
Yagi Yuzo |
|
Address: |
3-10, Honjo-Cho, Koyoen, Nishinomiya City, Hyogo,
Japan |
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Position: |
Director |
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Passport Number: |
TH9377587 |
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Issuing Country: |
Japan |
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2 |
|
|
Name: |
Masahiro Hirano |
|
Address: |
Room 1301, 5-30-1 Minamitanabe Higashisumiyoshi,
Osaka City, Japan |
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Position: |
Director |
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ID Number: |
P536452(7) |
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Passport Number: |
TK8482149 |
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Issuing Country: |
Japan |
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3 |
|
|
Name: |
Makimura Masayuki |
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Address: |
2-9-15-404, Himonya, Meguro-ku, Tokyo 152-0003,
Japan |
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Position: |
Director |
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Passport Number: |
TG4447871 |
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Issuing Country: |
Japan |
|
4 |
|
|
Name: |
Poon Ho Yan |
|
Address: |
Unit 913, 9/F, Miramar Tower, 132, Nathan Road,
Kowloon |
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Position: |
Secretary |
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Registered Number: |
G903350(4) |
Personnel Structure
|
Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit
913, 9/F., Miramar Tower, 132 Nathan Road, Kowloon, Hong Kong |
Premises Information
The subject locates at Unit 913, 9/F., Miramar Tower, 132 Nathan Road, Kowloon,
Hong Kong. However, we cannot get any related registration
information for this address in the official authorities.
Production
Information
·
Subject is a trader of apparel raw material without any production
activities
Purchase Information
·
It is introduced that subject’s products
are mostly purchased from Mainland China.
Sales Information
·
Subject is engaged in sale of apparel raw material.
·
The major products sold by the subject are down, silk yarn,
textile and so on.
·
Subject’s sales regions mainly focus on Japan market.
·
Subject’s major customers are bedding and thread manufacturers.
Settlements
Purchase
Domestic Purchase
|
Products |
Apparel raw material. |
|
Payment Terms |
T/T, Cash |
Import
Subject has little import.
Domestic
Markets
|
Product |
Apparel raw material. |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Apparel raw material. |
|
Selling Terms |
L/C, T/T |
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the only
source from which we can obtain the information is the subject itself.
Subject’s relevant staff rejected
to disclose the financial information, from other sources we could not obtain
such information, either.
Bankers
Subject declined to disclose its bank details; from other source
we could not obtain the relevant information, either.
Public
Mortgage Record
No mortgage record of subject was found.
Lawsuits
Up to now, no present or latent
litigation of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy
Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction &
Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Interview Date: |
2015-9-24 |
|
Department: |
Sales Department |
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Email: |
Industry
Information
65113 - Yarn of Combed Wool, Containing 85%
or More By Weight of Wool, Not for Retail Sale (Kg)
|
|
2015.06 |
2015.01~2015.06 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
British |
1,917 |
378 |
9,095 |
1,683 |
|
Italy |
106,168 |
26,607 |
932,887 |
246,329 |
|
Japan |
8,574 |
2,072 |
20,116 |
5,221 |
|
South Korea |
7,708 |
1,491 |
24,138 |
5,552 |
|
Macau |
1,454 |
179 |
1,670 |
213 |
|
Taiwan |
1,032 |
274 |
5,245 |
1,084 |
|
America |
144 |
36 |
1,049 |
362 |
|
Exports |
||||
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Macau |
5,076 |
1,006 |
6,922 |
1,326 |
|
Bangladesh |
16,001 |
2,657 |
120,565 |
20,074 |
|
Cambodia |
970 |
152 |
5,763 |
851 |
|
The Republic of Madagascar |
787 |
192 |
4,584 |
909 |
|
Vietnam |
10,145 |
1,646 |
125,439 |
19,592 |
|
The Mainland of China |
801,876 |
123,260 |
4,974,860 |
799,657 |
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 |
|
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 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Miramar
Tower, 132 Nathan Road, Kowloon, Hong Kong
9/F.,
Miramar Tower, 132 Nathan Road, Kowloon, Hong Kong
9/F.,
Miramar Tower, 132 Nathan Road, Kowloon, Hong Kong
Unit
913, 9/F., Miramar Tower, 132 Nathan Road, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.10 |
|
UK Pound |
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.