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MIRA INFORM REPORT
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Report No. : |
485021 |
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Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
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Name : |
YBS ZIPPER (HK) COMPANY LIMITED |
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Registered Office : |
Workshop Unit 22, 6/F.,
Block A, Hoi Luen Industrial Centre, 55 Hoi Yuen Road, Kowloon |
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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 Employees : |
7 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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 aided a more rapid initial recovery 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 9.4% of total system deposits in Hong Kong by the end of 2015. 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. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. 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 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.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 4.4% in 2014, but slowed to 2.9% in 2015. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities.
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Source : CIA |
Note
Your given address ‘G1 Kwun Tong Plaza, 68 Hoi Yuen Rd, Kwun Tong,
Kowloon, Hong Kong’ is incomplete.]
Company
name and address
YBS ZIPPER
(HK) COMPANY LIMITED
ADDRESS: 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
SUMMARY
Incorporated on: 5th
December, 1995.
Organization: Private
Limited Company.
Issued Share Capital: US$2.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 7.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Banking
Relation: Satisfactory.
ADDRESS
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.
BUSINESS
REGISTRATION NUMBER
19524413
COMPANY
FILE NUMBER
0532639
MANAGEMENT
Managing
Director: Mr. Kim Doo Ki
ISSUED
SHARE CAPITAL
US$2.00
SHAREHOLDERS
(As per registry
dated 05-12-2017)
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Name |
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No. of shares |
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LEE Kee Bin |
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1 |
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LEE Yong Jun |
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1 |
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– |
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Total: |
2 = |
DIRECTORS
(As per registry
dated 05-12-2017)
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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. |
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PARK Se Jeong |
Flat A, 25/F.,
Block 27, Laguna City, 10 East Laguna Street, Kowloon, Hong Kong. |
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KIM Doo Ki |
Flat B, 6/F., 87
Broadway, Mei Foo Sun Chuen, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 05-12-2017)
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Name |
Address |
Co. No. |
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Esmond Leung
Accounting & Management Ltd. |
12/F., San Toi Building,
137-139 Connaught Road Central, Hong Kong. |
0376774 |
HISTORY
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.
OPERATIONS
Activities: Importer, Exporter and
Wholesaler.
Lines: All kinds of zipper.
Employees: 7.
Commodities Imported: China, South Korea, etc.
Markets: Hong Kong, other Asian
countries, Europe, etc.
Terms/Sales: L/C
or as per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL
INFORMATION
Issued Share Capital:
US$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: No
complaints.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
GENERAL
YBS Zipper (HK) Company
Limited 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.
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
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Metal Zippers --- Closed-end Zippers,
Open-end Zippers
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Plastic Zippers
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Slider --- Metal, Plastic, Coil
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Special Tap --- Tap 1 to Tap 5
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.
The following
companies are YBS’ customers:
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., etc.
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, etc.
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, etc.
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 known as ‘YBS (Shanghai)
International Trading Co. Ltd.’
The products of YBS
are marketed in China and exported to worldwide countries by the Shanghai
Company.
According to YBS, it
has received witnessed of its superiority in terms of quality at the institutions
like Better Fabrics Testing Bureau in the United States (BFTB), Labtest Hong
Kong Ltd. in Hong Kong, TNO Leather and Shoes Research Institute in the
Netherlands (TNO) and Korea Textile Inspection & Testing Institute
(KOTITI), etc.
In the years ahead,
more distribution centres will be set up in the United States and in Western
Europe.
As the history of the
subject is over 22 years and a month in Hong Kong, on the whole, consider it
good for normal credit requirements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.83 |
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1 |
INR 86.28 |
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Euro |
1 |
INR 76.14 |
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HKD |
1 |
INR 8.14 |
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 : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.