MIRA
INFORM REPORT
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Report Date : |
11.09.2007 |
IDENTIFICATION DETAILS
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Name : |
REDCATS ASIA LTD |
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Registered Office : |
20FL Lu Plaza 2 Wing Yip St Kwun Tong |
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Country : |
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Date of Incorporation : |
January 17, 1997 |
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Com. Reg. No.: |
0591120 |
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Legal Form : |
Private |
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Line of Business : |
Buying and importing of a wide range of garments,
footwear, handbags, toys and home furnishing items. Sales and distribution to local and international market. |
RATING & COMMENTS
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MIRAs 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
REDCATS ASIA LTD
20FL LU PLAZA
TEL : [+852] 23162628
FAX : [+852] 23968537
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 17, 1997
REGISTRATION NO. :
0591120
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. IAN HERBERT WHITMARSH (GENERAL MANAGER)
STAFF STRENGTH :
120
CAPITAL :
US$ 1,279
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 :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78058 = USD1 AS OF
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD
*Company Name*
=============
Incorporated as
: GRAND GOLD HOLDINGS LTD
Date of incorporation
: 17 January, 1997
Changed name to
: REDOUTE ASIA LTD
Date of change
: 8 August, 1997
Changed name to
: REDCATS ASIA LTD
Date of change
: 17 March, 2000
*Company Registration*
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(1)
License number :
0591120
Date issued :
17 January, 1997
Issuing authority
: Companies Registry
Type of license :
Corporate
(2)
License number :
21144788-000
Date issued
: N/A
Issuing authority
: Business Registration Office -
Inland Revenue Dept
Type of license :
Business
*Capital Details*
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Authorized capital : HKD10,000.00 divided into 10,000 ordinary
shares at HKD1.00/-each, fully paid
*Office & Facilities*
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Comment : Also
occupied the 19th floor of the above building.
Other tel no. : 23085800
*Reputation*
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Reference checking for the purpose of establishing the firm's
reputation within the respective industry failed to reveal any negative
information.
*Approved Signatures*
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Mr. Chi-kueng Kwok can sign on behalf of the company with
seal affixed.
*Company Secretary*
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TRICOR SECRETARIES LTD
Address : Level 28 Three Pacific Place 1 Queen's Rd
Previous company secretary
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SECRETARIES LTD
CR no. : 14900
Address : Level 28 Three Pacific Place 1 Queen's Rd
Website : www.redcats.com The
design is professional and the content is well organized. At present it is in
English version.
Email : paulk@redcats.com
LITIGATION 1 Record
Found
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong
PETER DANIELS
Case Issue : A petition to the Court claiming for damages
amounting to USD1,034,018.40 (filed under case no. A06-02130).
Court : High Court,
Date Commenced : 26 September, 2006
Status : Pending
*Major Shareholders*
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Total number of shareholders : 2
Total number of ordinary shares : 10,000
Shareholders' Name
No. of Ordinary Shares
Amount of Shares (HKD) % of
Shares
--------------------- - ---------------------------
----------------------------------
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REDCATS SA 9,999
9,999.00
99.99
REDINVEST SA 1
1.00
0.01
*Director's Details*
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(1)
Chi-kueng Kwok
National ID number : G507856(2)
Address
: Flat B 6Fl Villa Athena - Block
(2)
Cecilia Chui-yiu Leung
National ID number : D232034(8)
Address
: Flat e 3Fl Grand Palisades - Block
(3)
Glenda Poh-gek Wee
National ID number : K786839(1)
Address
: N7
(4)
Yat-ming Yim
National ID number : G023423(A)
Address
: Flat 20E Visia Paradise - Block
Management : Mr. Ian Herbert Whitmarsh, General Manager
Name Nationality Job Description
Mr. Ian Herbert Whitmarsh
*Main Products & Services*
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Specializes in the following areas of work :
1. Buying and importing of a wide range of garments,
footwear, handbags, toys and home furnishing items.
2. Sales and distribution to local and international market.
Carries the following brands :
Brand Name Country
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- Cyrillus
Products : Baby clothing
Clothing
Footwear
Garments
Handbags
*Payment Terms*
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Sales
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Local : Cash or
Credit
Export : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : Cash or
Credit
Import : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local
sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*Strategic Partners & Alliances*
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Group name : REDCATS Group
Details : -
Maintains sourcing offices in the following countries:
-
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- Also the maintains 19,000 employees.
PAYMENT RATING : 3 OBTAINED SCORES : 50
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Implication |
Implications |
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1 |
Scores 85100 |
Excellent |
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2 |
Scores 75 84 |
Above Average |
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3 |
Scores 50 74 |
Average |
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4 |
Scores 35 49 |
Fair |
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5 |
Scores 15 34 |
Below Average |
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6 |
Scores 01 14 |
Poor |
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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 liability company there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
*BANK DETAILS*
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Bank Name : BNP PARIBAS -
Branch : Central,
Branch Address : 59-63Fl Two Int'l Finance Centre 8 Finance
St Central Hong Kong (Head Office)
SWIFT Code : BNPAHKHH
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements.
Credit in the range of moderate amount can be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading 2329 Men's and boys' clothing
Trading 2341 Women's girls', and infants' underwear and nightwear
Trading 2342 Brassieres and allied garments
Trading 2392 Housefurnishings
Trading 3149 Footwear
Trading 3171 Women's handbags and purses
Trading 5092 Toys & Hobby Goods & Supplies
Trading 5137 Female/Child Clothing
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading 4202 Travel goods, handbags, wallets, jewelry cases etc
Trading 6111904000 Babies garments and clothing accessories, knitted or crocheted,
of artificial
fibers:
sweaters, pullovers, sweatshirts, not imported as parts of sets
Trading 6114 Garments, knitted or crocheted
Trading 6217 Made-up clothing access, garment etc parts
Trading 6304 Furnishing articles of textile materials
Trading 6405 Footwear
Trading 9500 Toys, games & sports equip; parts &
accessories
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Clothing
Trader Ready-made
clothes
Trader Baby
clothing
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)