MIRA
INFORM REPORT
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Report Date : |
29.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MAST INDUSTRIES (FAR EAST) LTD |
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Registered Office : |
8FL Trade Square 681 Cheung Sha Wan Rd, Cheung Sha Wan
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
December 1, 1970 |
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Com. Reg. No.: |
0022225 |
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Legal Form : |
Private |
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Line of Business : |
Import and local purchases of raw materials for manufacturing. Manufacturing of garments, ceramics & dinnerware, basketry items,
wooden handcrafted, glassware, home textile and bedding accessories. Sales and distribution of manufactured products to export
markets. |
RATING &
COMMENTS
|
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 : |
Regular |
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Litigation : |
Exists |
name & address
MAST INDUSTRIES (FAR EAST) LTD
8FL TRADE SQUARE 681 CHEUNG SHA WAN RD
CHEUNG SHA WAN KOWLOON, HONG KONG.
TEL: 852-27344213
FAX: 852-23274736
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 1, 1970
REGISTRATION NO. :
0022225
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. EUGENE LO (MANAGER)
STAFF STRENGTH :
300
CAPITAL :
US$ 32,092
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : FAIR
EXCHANGE RATE :
HKD 7.79936= US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –Hong Kong Dollars
*Company Registration*
==================
(1)
License number : 0022225
Date issued : 1
December, 1970
Issuing authority : Registrar
of Companies
Type of license : Corporate
Registration
(2)
License number : 3129089-000
Issuing authority : Inland
Revenue Department
Type of license : Business
Registration
Note: The above registration information is based on the company's
annual return filed at Companies Registry within the last 3 years.
*Capital Details*
=============
Share value :
HKD 100.00/-each
Authorized capital : HKD
250,000.00
Initial paid-up capital : HKD
100,800.00 divided into 1,008 ordinary shares
Paid-up capital increase : HKD 101,000.00 divided into 1,010 ordinary
shares
Date of increase : 21
November, 2007
*Office & Facilities*
===============
Location
: Industrial district
Type of building :
Commercial building
Other fax no
: 23699982
Previous contact details :
--------------------------------
Address : 14Fl New
World Office Bldg East Wing 18-24 Salisbury Rd, Tsimshatsui Kowloon
Year transferred : 2001
*Corporate & Organization Structure*
============================
A large-sized company mainly operated and managed by an experienced team
of professionals.
*Registrar*
=========
SIMMONS & SIMMONS
*Approved Signatures*
=================
Only Samuel Hock Meng Tan can sign on behalf of the company with seal
affixed.
www.mast.com this website belongs to “MAST
Industries, Inc”. The design is professional and the content is well organized.
At present it is in English version.
E-mail: dtse@mast.com
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong LOK WING
ENTERPRISE LTD
Case Issue : A petition to the court claiming overdue payment for goods
& delivered.
Date Commenced : 13 December, 2001
Status : Not stated
Litigation ( 2 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Thailand ROYAL CIPTA
KNITTING & GARMENT CO LTD
Case Issue : A petition to the court claiming overdue payment amounting
to HKD 70,500.00 for goods sold & delivered. (filed under case no.
DCCJ8960/2001)
Court : District Court, Hong Kong
Date Commenced : 28 May, 2001
Status : Not stated
Litigation ( 3 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong PENINSULA
INT'L DEVELOPMENT LTD
Case Issue : A petition to the Court claiming a sum of money amounting
to HKD 985,222.43 (filed under case no. A1066/2001)
Court : High Court, Hong Kong
Date Commenced : 7 March, 2001
Status : Not stated
Litigation ( 4 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong PENINSULA
INT'L DEVELOPMENT LTD
Case Issue : A petition to the Court claiming a sum of money amounting
to HKD 985,222.43 (filed under case no. HCCL113/1999)
Court : High Court, Hong Kong
Date Commenced : 22 June, 1999
Status : Not stated
Litigation ( 5 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong UNITAX
ENTERPRISE LTD
Case Issue : A petition to the court claiming overdue payment amounting
to HKD 428,970.00 for goods sold & delivered.
Date Commenced : 21 December, 1998
Status : Not stated
Litigation ( 6 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong PENINSULA
INT'L DEVELOPMENT LTD
Case Issue : A petition to the Court claiming overdue payment amounting
to USD 985,222.00
Date Commenced : 3 September, 1998
Status : Not stated
Litigation ( 7 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong LEON TRADING
LTD
Case Issue : A petition to the court claiming overdue payment amounting
to HKD 2,287,752.00 for goods sold & delivered.
Date Commenced : 10 June, 1998
Status : Not stated
Litigation ( 8 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong ILMAN OFFICE
AUTOMATION
Plaintiff Hong Kong NRG HONG
KONG LTD
Case Issue : A petition to the Court claiming overdue payment for
services rendered.
Date Commenced : 4 May, 1998
Status : Not stated
Litigation ( 9 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong SPRINGBORN
TESTING & RESEARCH (HK) LTD
Case Issue : A petition to the Court claiming overdue payment for
services rendered.
Date Commenced : 20 July, 1998
Status : Not stated
Litigation ( 10 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff China TONG LU SPRING
RIVER KNITTING CO LTD
Case Issue : A petition to the Court claiming a sum of money amounting
to HKD 494,067.30 (filed under case no. A1730/2003)
Court : High Court, Hong Kong
Date Commenced : 15 May, 2003
Status : Not stated
*Major Shareholders*
================
Total number of shareholder : 1
Total number of shares :
1,010
Shareholder's Name
No of Shares Amount of Shares
(HKD) % of Shares
-------------------------- ------------------ ---------------------------------- ----------------
LIMITED (OVERSEAS) INC
1,010
101,000.00 100.00
Shareholders' Transfer
------------------------------
Date transferred : 28 February, 2007
Share transferor : Richard Alan Paul (1 share)
Share transferee : LIMITED (OVERSEAS) INC
*Directors' Details*
================
(1)
Phyllis Yuen-wah Ho
Passport number : D200987(1)
Address : Flat 38
7Fl Block 2 140 Pok Fu Lam Rd Hong Kong Hong Kong
Other position : Director
of TRINITY POINT ENTERPRISES LTD - Hong Kong
Previous positions : Director of LAPSON ENTERPRISES LTD - Hong Kong
Associations : Director
& Representative in HK Exporters' Association
(2)
Richard Alan Paul
Passport number : 111327986
Address : 39/40E
The Manhattan 33 Tai Tam Rd Hong Kong
(3)
Samuel Hock-Meng Tan
National ID number : P752500(5)
Address : Flat D
33Fl Tower 7 Park Ave 18 Hoi Ting Rd Kowloon Hong Kong
(4)
Annie Wing-Yue To Wong
National ID number : E826056(0)
Address :
10Fl Flat A Block 2 Flora Garden 7 Chun Fai Rd Jardine's Lookout Hong Kong
*Company Secretary*
=================
SANDS SECRETARIES LTD
C. R. no : 133419
Address : 35Fl Cheung Kong
Center 2 Queen's Rd, Central Hong Kong
Management: Mr. Eugene Lo,
Manager
Ms. Veronica Chan, Assistant
Mr. Daniel Siu-lau Tse, Managing Director
Name Nationality
Job Description Dept.
/ Division
Mr. Eugene Lo Hong
Kong Manager Merchandising
Ms. Veronica Chan Hong Kong Assistant -
Mr. Daniel Siu-lau Tse Hong Kong
Managing Director -
Mr. Rick Paul Hong
Kong President -
*Key Personnel*
==============
Rick Paul
Year of appointment : 2002
Responsibilities :
Handles the overall management of the company
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Import and local purchases of raw materials for manufacturing.
2. Manufacturing of garments, ceramics & dinnerware, basketry items,
wooden handcrafted, glassware, home textile and bedding accessories.
3. Sales and distribution of manufactured products to export
markets.
Products: Bags
Basketry items
Bathroom
accessories
Bedding
accessories
Ceramic
giftwares
*Payment Terms*
=============
Sales
------
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Credit and Internal
transaction
Purchases
--------------
Local : Credit
30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Lodgment of Annual Returns*
========================
Date of lodgment : 1 December, 2005
*Associations*
=============
Member of the following
associations :
- American Businesses in Hong Kong
- Hong Kong Exporters' Association (since 1981)
*Domestic Suppliers*
================
Raw materials, garment, accessories and consumer product are
purchased from local manufacturer or
sub-contractor.
*Imports*
========
Raw materials, garment, accessories and consumer product are purchased
from South East Asia and the PRC.
*Local Distribution Network*
=======================
There is no record of local sales since the prime focus of the firm's
activity is concentrated on exports only.
*Export Markets*
=============
100% of the annual turnover is attributed to export to Western Europe
and USA.
*Overseas Customers*
=================
Major overseas customers include:
Customer from the Limited Brands retail and Director divisions.
- VICTORIA'S SECRET STORES
- VICTORIA'S SECRET DIRECT
- LIMITED BRANDS STORES
- EXPRESS
- NEW YORK & CO
- HENRI BENDEL
- BATH & BODY WORKS
Others external significant fashion brands such as:
- LANE BRYANT
- ABERCROMBIE & FITCH
- TOO INC
- MY TWINN
- SAKS 5TH AVENUE
Other major customers include:
- BRITISH HOME STORES
- MARKS & SPENCER
- LIZ CLAIBORNE
- GAP GROUP
- RALPH LAUREN (POLO)
- JONES NEW YORK
- TOMMY HILFIGER
- C&A
*International Exhibition Participation*
============================
Exhibition fair : NAMSB World
Show
Date scheduled : 2-4 June, 2004
Location : Jacob
Javits Convention, USA
*Strategic Partners & Alliances*
=======================
Group employs : 125,500 staffs
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : BATH & BODY WORKS INC
Address : 7 Limited Parkway Reynoldsburg 43068 Ohio USA
Country : USA
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Cosmetics, Toiletries & Personal Care
Company Name : MAST INDUSTRIES (FAR EAST) INC - SHENZHEN REPRESENTATIVE
OFFICE
Address : 4Fl Citic Industries Zone - Citic-Concord Logistic Bldg Baoan
Dist Shenzhen 518101 Guangdong China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES (FAR EAST) LTD
Address : Ground Fl STIL Bldg Sta Agueda Ave Pascor Drive Paranaque CPO
Paranaque 1700 NCR Philippines
Country : Philippines
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES (FAR EAST) LTD
Address : Suite 1103, 11Fl Saigon Tower 29 Le Duan Blvd District 1 Ho
Chi Minh Vietnam
Country : Vietnam
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES (FAR EAST) LTD
Address : 8Fl Hemas House 75 Brybrooke Place Colombo 2 Colombo 00200 Sri
Lanka
Country : Sri Lanka
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES (FAR EAST) LTD - SHANGHAI REPRESENTATIVE
OFFICE
Address : 23Fl Mei Xin Plaza 728 Xi Zang Rd (M) Shanghai 200001 China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES (MAURITIUS) LTD
Country : old_Mauritius
Relationship : Affiliate
Company Name : MAST INDUSTRIES INC
Address : Anapah 4 Galram Israel
Country : Israel
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES INC
Address : Zone Galaxy Batiment Titan II Andharo Ambohimanarina
Antananarivo Madagascar
Country : Madagascar
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES INC
Address : Nivel 7 Oficina 701 Edificio Ilumina Calzada Roosevelt 33-86
Zona 7 Guatemala 01007 Guatemala
Country : Guatemala
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES INDONESIA (FAR EAST) LTD
Address : 6Fl Ariobimo Centre 5 Jalan HR Rasuna Said Kav X-2 Jakarta
12950 West Java Indonesia
Country : Indonesia
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES MEXICO
Address : Alfonso Napoles Gandara 50-4 Piso Col Pena Blanca Santa Fe
Mexico 01210 Dist Federal Mexico
Country : Mexico
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES NV
Address : 16Fl Sea-A Venture Tower 946-12 Daechi-dong Kangnam-gu Seoul
135280 South Korea
Country : South Korea
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES NV
Address : 7Fl Worldwide House 131 Min Sheng East Rd Section 3 Sungshan
Dist Taipei City 105 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST INDUSTRIES SOUTH AFRICA
Address : Black River Park - The Terraces Fir Rd Observatory Cape Town
7925 South Africa
Country : South Africa
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
Company Name : MAST LANKA PVT LTD
Address : Unit 401, 4Fl Prestige Garnet 78 Ulsoor Rd Bangalore 560042
Karnataka India
Country : India
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Garments & Accessories
PAYMENT
RATING : 3 OBTAINED SCORES :
60
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for MODERATE amounts depending
on individual judgement experience.
As a limited company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
*Bank Details *
============
Bank Name : BANK OF CHINA (HONG KONG) LTD
Branch : Central, Hong Kong
Branch Address : 13Fl Bank Of China Tower 1 Garden Rd Central Hong Kong
(Head Office)
SWIFT Code : BKCHHKHH
Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central, Hong Kong
Branch Address : 9Fl HSBC Main Bldg 1 Queen's Rd Central Hong Kong (Head
Office)
SWIFT Code : HSBCHKHH
Bank Name : STANDARD CHARTERED BANK
Branch : Central, Hong Kong
Branch Address : 13Fl Standard Chartered Bank Bldg 4-4A Des Voeux Rd
Central Hong Kong (Head Office)
SWIFT Code : SCBLHKHH
SC is considered large-sized in its line with a long history. Credit up
to moderate amount may be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 2299 Textile
goods,
Manufacturing 2300 Apparel/Other
Textile Products
Manufacturing 2369 Children's
outerwear,
Manufacturing 2389 Apparel
and accessories,
Manufacturing 2393 Textile
bags
Manufacturing 2499 Wood
products,
Manufacturing 2676 Sanitary
paper products
Manufacturing 3171 Women's
handbags and purses
Manufacturing 3269 Ceramic
articles,
Manufacturing 3999 Manufactured
articles,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 4202 Travel
goods, handbags, wallets, jewelry cases etc
Manufacturing 4420 Wood
marquetry etc; jewel case etc & wood furniture
Manufacturing 4421909840 Articles
of wood
Manufacturing 4602 Basketwork,
wickerwork of plaits etc; loofa article
Manufacturing 5900 Impregnated,
coated, covered, or laminated textile prod, textile prod for industrial
use
Manufacturing 5911 Textile
products etc. for specific tech uses
Manufacturing 6109901045 Men's
or boys' other t-shirts of man-made fibers, knitted or crocheted
Manufacturing 6109901050 Women's
t-shirts, knitted or crocheted, of other textile materials: of man-made
fibers
Manufacturing 6110 Sweaters,
pullovers, vests etc, knit or crocheted
Manufacturing 6110201010 Men's
or boys' sweaters, of cotton, knitted or crocheted, greater than or equal to
36
percent by weight of flax fibers
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Ceramic
giftwares
Manufacturer Ceramic
houseware
Manufacturer Glassware
Manufacturer Bags
Manufacturer Bathroom
accessories
Manufacturer Dinnerware
Manufacturer Home textiles
Manufacturer Basketry
items
Manufacturer Bedding
accessories
Manufacturer Wooden
handicrafts
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Europe
Exporting to North America
Exporting to USA
Importing from Asia
Importing from China
Importing from South Korea
Importing from Taiwan
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)