MIRA
INFORM REPORT
|
Report Date : |
06.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
HOME RETAIL GROUP ( |
|
|
|
|
Registered Office : |
Suite 1608-1613, 16fl |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
March 26, 1985 |
|
|
|
|
Com. Reg. No.: |
148879 |
|
|
|
|
Legal Form : |
|
|
|
|
|
Line of Business : |
Importing of general merchandise products. Exporting of products imported by the firm. Operates as a sourcing office. |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name &
address
HOME RETAIL GROUP (
SUITE 1608-1613, 16FL GATEWAY TOWER VI,
TEL : 852 27216006
FAX : 852 27242009
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 26, 1985
REGISTRATION NO. :
148879
CHIEF EXECUTIVE :
MR. RICHARD JOHN ASHTON (CHAIRMAN)
STAFF STRENGTH :
80
CAPITAL :
US$ 128
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.81184 = US$1 AS OF 2007-7-4
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD
*Company Registration*
===================
License number : 148879
Date issued : 26 March,
1985
Issuing authority : Companies
Registry
Type of license : Corporate
License number : 9589455
Issuing authority : Inland
Revenue Department
Type of license : Business
*Company Name*
==============
Incorporated as : GUS
TRADING LTD
Date of incorporation : 26
March, 1985
Changed name to : ARGOS
(ASIA) LTD
Date of change : 8
October, 2004
Changed name to : ARGOS
RETAIL GROUP (
Date of change : 17
December, 2004
Changed name to : HOME
RETAIL GROUP (
Date of change : 15
November, 2006
*Capital Details*
=============
Share value : HKD
1.00/-each
Authorized capital : HKD 1,000.00
divided into 1,000 ordinary shares
Paid-up capital : HKD 2.00
divided into 2 ordinary shares
*Office & Facilities*
================
Comment : Premises is shared with parent company, HOME RETAIL GROUP
(ASIA) LTD
*Corporate & Organization Structure*
=============================
A medium-sized company operated and managed by an experienced team of
professionals.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
===================
Only Mr. Graham Clarke Kibby can sign on behalf of the company with seal
affixed.
Website : www.homeretailgroup.com The design is
professional and the content is well organized. At present it is in English
version.
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholder
: 1
Total number of ordinary shares : 2
Shareholder's Name No. of Ordinary
Shares Amount of Shares (HKD) % of Shares
--------------------------
-------------------------------
----------------------------------
---------------
HOME RETAIL GROUP (
*Directors' Details*
===============
Neil Fuller
Address :
Maria Philomena Thompson
Address : 29 Brookland
Rise
Graham Clarke Kibby
Address : B1536 New
World
*Company Secretary*
=================
STRATH NOMINEES LTD
Address : Level 28 Three Pacific Place 1 Queen's Rd
CR no : 4873
*COMPANY MANAGEMENT*
=========================
Name Nationality
Job Description
Mr. Richard John Ashton British
General Manager
*Key Personnel*
=============
Richard John Ashton
Founder :
Co-founder
Address : 43 Woodall
Close Middleton Milton Keynes Buckinghamshire MK109JZ
Work experience : More than 20 years.
Responsibilities : Handles the
daily operation of the firm including all financials and legal matters.
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Importing of general merchandise products.
2. Exporting of products imported by the firm.
3. Operates as a sourcing office.
Products : Bedroom furniture
Beds
Chains
Clothing
Cooking
stoves
*Payment Terms*
==============
Sales
--------
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
--------------
Local : Cash
30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*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
*Overseas Customers*
==================
Customer's name : ARGOS LTD
Country :
*Strategic Partners & Alliances*
=========================
The group employs 51,485 staffs.
PAYMENT RATING : 3 OBTAINED SCORES : 55
|
Implication |
Implications |
|
|
1 |
Scores 85100 |
Excellent |
|
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.
*Bank Details*
============
Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central,
Branch Address : Basement Level HSBC Main Bldg 1 Queen's Rd
SWIFT Code : HSBCHKHH
As a limited liability company there is no legal requirement according
to local corporate law for public disclosure of detailed financials.
SC is considered an old-established business in medium size.
Credit dealings with SC in moderate amount can be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2300 Apparel/Other
Textile Products
Trading 2389 Apparel
and accessories
Trading 2392 House
furnishings
Trading 2515 Mattresses
and bedsprings
Trading 3631 Cooking
stoves, ovens, and ranges, household type, and parts
Trading 3632 Refrigerators
and freezers, household type, and parts
Trading 3633 Household
laundry equipment
Trading 3651 Radio
& tv receiving sets; phonographs; recorders; microphones; loudspeakers;
audio
amplifiers; & oth audio equip
Trading 3699 Electrical
equipment and supplies and parts
Trading 3873 Watches,
clocks, clockwork operated devices, and parts
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 9960 Export
Trading/management Company
Trading 4203100090 Articles
of apparel
Trading 6114 Garments
knitted or crocheted
Trading 6405 Footwear
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7113192900 Gold
necklaces and neck chains
Trading 8418690090 Refrigerating
or freezing equipment, household
Trading 8450 Washing
machines, household- or laundry-type, parts
Trading 8516604080 Electric
cooking stoves, ranges and ovens
Trading 8519990045 Audio
laser disc players (compact disc)
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Trader Household
furnishings
Trader MP3 players
Trader MP3 iPods
Trader Televisions
Trader DVD (digital
video discs)
Trader Refrigerators
Trader Cooking
stoves
Trader Laundry
machinery
Trader Outdoor
toys
Trader Pre-school
toys
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
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/normal. |
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 SCs 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%)