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MIRA
INFORM REPORT
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Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ITEMA (ASIA) LTD |
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Registered Office : |
Rm 808 Enterprise Square - Tower 1, 9 Sheung Yuet Rd Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.06.1994 |
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Com. Reg. No.: |
483728 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of Textile Machines and Industrial Machinery and Equipment |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 15,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
ITEMA
(ASIA) LTD
RM 808 ENTERPRISE SQUARE - TOWER 1,
9 SHEUNG YUET RD KOWLOON, HONG KONG.
TEL: 852-23171212 FAX: 852-23171612
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 28, 1994
REGISTRATION NO. :
483728
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. DANILO ENRICO ARIZZI (CHAIRMAN)
STAFF STRENGTH :
11
CAPITAL :
US$ 1,284
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 15,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80187= 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
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*Company Registration*
==================
(1)
License number : 483728
Date issued : 28 June, 1994
Issuing authority : Companies Registry
(2)
License number : 18344757-000
Date issued : N/A
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Company Name*
==============
Incorporated as : SOMET (ASIA) LTD
Date of incorporation : 28
June, 1994
Changed name to : ITEMA (ASIA) LTD
Date of change : 29 January, 2001
*Capital Details*
=============
Authorized capital : HKD10,000.00 divided into 10,000 ordinary shares of
HKD 1.00/-each, fully paid.
*Office & Facilities*
===============
Location : Commercial district
Property status : Rented
Type of building : Commercial building
Current land search on the
above premise indicates the following:
Ownership: Hing-Fai Tang
Date of purchase & amount:
13 May, 2000/ HKD 750,000
Date of mortgage &
amount: 12 June, 2000/ Amount Not Specified
Mortgagee: General Banking
CHEKIANG FIRST BANK LTD Facilities.
Other contact details
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Tel no : 23171420
E-mail : info@itemaasia.com
Previous Contact Details
-----------------------------------
Address : Unit
619, 6Fl Chevalier Commercial Centre 8 Wang Hoi Rd
Date of relocation : December
2007
*Factories, Size & Locations*
======================
The company is a trading house which out-sources all orders to its
affiliate factories located in China and Italy.
Hence there are no production facilities directly owned by the
company.
*Corporate & Organization Structure*
============================
A small company mainly 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. Wing-yan Lee can sign on behalf of the company with seal
affixed.
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www.itemagroup.com this website belongs to
“ITEMA GROUP”. The design is professional and the content is well organized. At
present it is in both Italian and English versions.
E-mail: sofe@asia.online.net
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Litigation ( 1 )
Position :
Defendant
Other Parties Involved :
Position Country Party's Name
Plaintiff Hong Kong A-LINK
EXPRESS (HONG KONG) LTD
Case Issue :
Service Charge (file under case no. SCTC836509/2002)
Court :
District Court, Hong Kong
Date Commenced : 28
January, 2003
Status :
Not stated
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*Major Shareholders*
================
Total number of shareholders
: 2
Total number of ordinary shares : 10,000
Shareholders' Name No. of Ordinary Shares Amount of Shares (HKD) % of Shares
-------------------------- ------------------------------- --------------------------------- ----------------
ITEMA INT'L BV 9,999
9,999.00
99.99
ITEMA HOLDING SPA 1 1.00 0.01
*Corporate Secretary*
================
SECRECO LTD
CR No. : 139490
Address : 8Fl Gloucester
Tower, The Landmark 15 Queen's Rd Central Hong Kong
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*Company Directors*
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1
Name : Mr.
Danilo Enrico Arizzi
Nationality :
Italy
ID/Passport No. :
Y270461
Registered Address : Via M
Merisi 32/A, Albino, BG
Country of Residence : Italy
2
Name :
Mr. Fabio Mazzucchetti
Nationality :
Italy
ID/Passport No. :
Y454279
Registered Address : Via
Beretta 39, Ranica, BG
Country of Residence : Italy
3
Name :
Mr. Wing-yan Lee
Nationality :
Hong Kong
ID/Passport No. :
K262802(3)
Registered Address : Flat H 5Fl
Glamour Graden 1-5 Chik Fai St, Shatin, New Territories
Country of Residence : Hong
Kong
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*Main Products & Services*
======================
Specializes in the following areas of work:
1. Importing of textile machines and industrial machinery and equipment.
2. Trading of imported products to local and export markets.
Products: Industrial equipment
Industrial
machinery
Technology
consultancy
Textile
machinery
Textiles
*Payment Terms*
=============
Sales
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Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Charge*
========
Creation date
: 1 September, 2001
Secured instrument
: General Banking Facilities
Chargee/Beneficiary :
BANCA NAZIONALE DEL LAVORO SPA - HONG KONG BRANCH
Amount secured by charge: EUR 8,600
*Imports*
========
Weaving machines are imported from its parent company in Italy.
*Local Distribution Network*
=====================
1% of the annual turnover is attributed to local sales
*Export Markets*
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99% of the annual turnover is attributed to export to the following
countries:
- China
- Australia
- Japan
- Korea
- Taiwan
- South East Asia
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SC is not known to have any subsidiary at
present.
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PAYMENT RATING : 3 OBTAINED SCORES :
51
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Implication |
Implications |
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1 |
Scores 85–100 |
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 SMALL amounts
depending on individual judgement experience.
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As a private limited 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 : BANCA MONTE DEI PASCHI DI SIENA
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SC is considered small-sized in its line with a 14 years development history.
Taking into consideration of SC’s general performance, a credit line up to USD
15,000 would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 8748 Business
Consulting Svcs, NEC
Trading 2200 Textile Mill Products
Trading 3500 Industrial
Machinery & Equipment
Trading 3552 Textile
machines, and parts and attachments,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 9878 Business
development/consulting
Service 9960 Export
trading/management company
Trading 6805100000 Abrasive
articles on a base of woven textile fabric only
Trading 8420101000 Textile
calendering or rolling machines
Trading 8445200000 Textile
spinning machines
Trading 8445300010 Textile
twisting machines
Trading 8445300090 Textile
doubling machines
Trading 8445400000 Textile
winding (including weft winding) or reeling machines
Trading 8448 Auxiliary
machinery for use with textile machines
Trading 8479 Machines
etc having individual functions, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Industrial
machinery
Trader Industrial
equipment
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Australia
Exporting to China
Exporting to Japan
Exporting to South Korea
Exporting to Taiwan
Importing from Asia
Importing from China
Importing from Europe
Importing from Italy
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 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%)