MIRA
INFORM REPORT
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Report Date : |
03.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MATSUMOTO INDUSTRIAL LTD. |
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Registered Office : |
Flat F, 19/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street,
Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.11.1991 |
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Com. Reg. No.: |
15246869 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer,
Exporter and Wholesaler of Garments, Piece Goods, Buttons, Buckles, Zippers,
Fashion Accessories, etc |
RATING &
COMMENTS
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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 : |
No Complaints |
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Litigation : |
Clear |
name of the company
MATSUMOTO
INDUSTRIAL LTD.
ADDRESS
Flat F, 19/F., Ho
Lee Commercial Building, 38-44 D’Aguilar Street, Central, Hong Kong.
PHONE: 2851 6992
FAX: 2851 7170
E-MAIL: bharat@matsumotoind.com.hk
(Formerly located at: Flat B, 18/F. of the same building.)
MANAGEMENT
Managing
Director: Mr. Bharat Gohel
SUMMARY
Incorporated on: 5th November, 1991.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$15-20 million.
Employees: 4.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Flat F, 19/F., Ho
Lee Commercial Building, 38-44 D’Aguilar Street, Central, Hong Kong.
Associated Companies:-
Sonar (HK) Ltd.,
Hong Kong. (Same address)
Sonar Trading Co.,
Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
15246869
COMPANY FILE NUMBER
331717
MANAGEMENT
Managing
Director: Mr. Bharat Gohel
CAPITAL
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital:
HK$10.00
SHAREHOLDERS
(As per registry dated 05-11-2007)
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Name |
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No. of shares |
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Bharat GOHEL |
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9 |
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Gohel Indulal Premanand |
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1 |
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–– |
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Total: |
10 == |
DIRECTORS
(As per registry dated 05-11-2007)
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Name (Nationality) |
Address |
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Daphne Bontein DA ROSA GOHEL |
Apartment
2C, Glamour Court, 39 Consort Rise, Pokfulam, Hong Kong. |
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Bharat GOHEL |
Apartment
2C, Glamour Court, 39 Consort Rise, Pokfulam, Hong Kong. |
SECRETARY
Bharat GOHEL (As per registry dated 05-11-2007)
HISTORY
The subject was
incorporated on 5th November, 1991 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the
subject was located at Flat B, 18/F., Ho Lee Commercial Building, 38-44
D’Aguilar Street, Central, Hong Kong, moved to Flat F, 19/F. of the same
building in June 2006.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Garments, piece goods, buttons, buckles, zippers, fashion accessories, etc.
Employees: 4.
Commodities Imported: China and other Asian countries.
Markets: India, other Asian countries, Middle East, Europe, North America, etc.
Annual Turnover: HK$15-20 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10.00
Profit & Loss: Making a small profit every year.
Condition: Keeping in a normal state.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 10
ordinary shares of HK$1.00 each, Matsumoto Industrial Ltd. is jointly owned by
Mr. Bharat Gohel, holding 9 shares, and Mr. Gohel Indulal Premanand, holding 1
share. Mr. Bharat Gohel is an Indian
who has been in Hong Kong for a very long time. He has got the right to reside in Hong Kong permanently.
The subject is
trading in the following commodities:-
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Product/Service |
Produce/Service Remarks |
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Piecegoods – Vegetable Fibre Denim – Cotton,
Woven |
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Shirts (Men’s, Women’s and Children’s) |
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Haberdashery Zipper Button – Plastic Button – Metal Buckle – Plastic Buckle – Metal Padding and Pad Lining and
Inter-Lining |
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Fashion Accessories Ribbon
(Cut-Edge) Lace and
Trimming |
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Machinery – Textile and Garment Sewing Machines
and Parts – Household |
Sewing
machine from Japan, China (Importer and Exporter) |
Most of the
commodities are imported from China and Japan.
Prime markets are Asian countries, North America, Europe, the Middle
East, etc.
The subject has
got an affiliated company located at the same operating address known as Sonar
(HK) Ltd. [Sonar]. Operated by Mrs.
Ravi Sujanani, Sonar is also an Indian firm engaged in the same lines of
business as the subject, more or less.
Sonar is trading
in woven and knitted fabrics from China.
These include all types of cotton and cotton blended fabrics such as
denim, twill, poplin, corduroy, velour, fleece, etc. as well as other fabrics —
polyester, nylon, T/C, acrylic, linen, ramie, rayon, etc. which are exported to
various regions, directly to factories for the production of garments for the
US market. In addition, Sonar supplies
a comprehensive selection of garment accessories such as zippers, buttons
(plastic and metal), rhinestones, embroidery patches, velcro tapes, ribbon,
lace, thread, etc.
Sonar is also
regularly exporting other items from China such as stuffed plush toys, caps,
flags, T-shirt, drop cloth and other promotional items which are specially made
to order for the customers.
Sonar is employing
about 4 persons.
The annual
turnover of the subject ranges from HK$15 to 20 million. Business is steady.
As the history of
the subject is about seventeen years in Hong Kong, consider it good for normal
business engagements.
COURT CASES: None
per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
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%)