MIRA INFORM REPORT

 

 

Report Date :

22.10.2008

 

IDENTIFICATION DETAILS

 

Name :

TEXTILE INTERNATIONAL LTD

 

 

Registered Office :

Triq il-Hemel, 15SWQ 3058 Swieqi

 

 

Country :

Malta

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

09.11.1992

 

 

Com. Reg. No.:

C27518 Valletta

 

 

Legal Form :

Private Limited Liability Company / International Business Company (IBC)

 

 

Line of Business :

Manufacture of Textiles

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

           

Maximum Credit Limit :

EUR 170,000.00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

NAME & ADDRESS

 

 

Correct Registered Name:

Textile International Ltd

 

Address:

Triq il-Hemel, 15
SWQ 3058 Swieqi MALTA

 

Telephone:

+356-21384301

 

Email:

til@orbit.net.mt

 

 

SUMMARY OF RATINGS

 

MAXIMUM CREDIT:

EUR 170,000.00

 

 

PAYMENT

 

 

FINANCIAL STRENGTH:

Unknown

 

CREDIT RATING:

Average Risk

 

 

 

LEGAL STATUS

 

Legal Form:

Private Limited Liability Company / International Business Company (IBC)

 

Registration number and city:

C27518 Valletta

 

Registration date:

09.11.1992

 

COMPANY STATUS

 

Registration status: 1992 - registered company
Activity status: 1992 - active company

 

 

 

PRINCIPALS

 

SHAREHOLDERS

 

 

Full Name

Personal ID

Function

Nationality

EQUITY

Address

R.O.K. International Holding Ltd
REGISTRATION: No. C 27483, MALTA

 

Director (Also shareholder, legal and judicial representative)

 

99.98%
5,581 Ordinary A

Triq ix-Xatt, 48, Sqaq Nru2
Pieta' MALTA

Osiris trust Ltd
REGISTRATION: No. C 36502, Valletta, MALTA

 

Shareholder

 

0.02%
1 Ordinary B

4, V. Dimech street
Floriana MALTA

 

MANAGEMENT

 

 

Full Name

Personal ID

Age

Function

Nationality

Qualification

Experience

Address

R.O.K. International Holding Ltd

 

 

Director (Also shareholder, legal and judicial representative)

 

 

 

Triq ix-Xatt, 48, Sqaq Nru2
Pieta' MALTA

Mr. Joseph P Fenech

668325 M

 

Secretary

MALTA

Not disclosed.

Not disclosed.

Church Avenue , "Edinmar", 163
Paola MALTA


PLEASE NOTE THE FOLLOWING ADDITIONAL INFORMATION ON AFFILIATED COMPANIES:

- R.O.K. International Holding Ltd
Registration number:C 27483
Registration date: 22.12.2000
address:
48, Sqaq Nru2,
Triq ix-xatt
Pieta'
Malta
Director:
Joseph P Fenech I.D. 6683225M
Address:
"Edinmar", 163
Church Avenue
Paola
Malta
Shareholders:
Osiris Trust Ltd C36502
Address:
4, V Dimech street,
Floriana
Malta

- R.O.K. International Holding Limited is involved in the following companies:
R. Holding Limited C27616
Registration date: 24.01.2008
Address:
48, Sqaq Nru 2,
Triq ix-xatt
Pieta'
Malta

- Textile International Limited C 27518
Registration date: 09.09.1992
Address:
48, Sqaq Nru 2,
Triq ix-xatt
Pieta'
Malta

 

 

ACTIVITIES

 

ACTIVITIES:

Manufacturers

 

OPERATIONS:

NACE
  main activity:
  1700 MANUFACTURE OF TEXTILES

  5116 Agents involved in the sale of textiles, clothing, footwear and leather goods

The company is principally engaged in the design, manufacture and sale of textiles, wearing apparel, garments and related accessories.

Business Activities
Textile Importers and Dealers
Textile Manufacturers

Industry Classifications - NAICS
» Apparel, Piece Goods, and Notions Merchant Wholesalers
» Clothing and Clothing Accessories Stores

Detailed Description of Industry Classifications
Apparel, Piece Goods, and Notions Merchant Wholesalers
NAICS # 4243 |

Clothing and Clothing Accessories Stores
NAICS # 448 | Industries in the Clothing and Clothing Accessories Stores subsector retailing new clothing and clothing accessories merchandise from fixed point-of-sale locations. Establishments in this subsector have similar display equipment and staff that is knowledgeable regarding fashion trends and the proper match of styles, colors, and combinations of clothing and accessories to the characteristics and tastes of the customer.

 

RELATED COMPANIES

 

Shareholding Company
OSIRIS TRUST LIMITED , MALTA , National ID: C 36502

Affiliated Company
R. Holding Ltd , MALTA

Parent Company
R.O.K. International Holding Ltd , MALTA

PLEASE NOTE THE FOLLOWING ADDITIONAL INFORMATION ON AFFILIATED COMPANIES:

- R.O.K. International Holding Ltd
Registration number:C 27483
Registration date: 22.12.2000
address:
48, Sqaq Nru2,
Triq ix-xatt
Pieta'
Director:
Joseph P fenech I.D. 6683225M
Address:
"Edinmar", 163
Church Avenue
Paola
Shareholders:
Osiris Trust Ltd C36502
Address:
4, V Dimech street,
Floriana FRN 1504
Phone: (+356) 2123 5888
Fax: (+356) 2122 1428

- R. Holdings Ltd C 27616
Registration date: 24.01.2001
48, Sqaq Nru2,
Triq ix-xatt
Pieta'
Phone: (+356) 2123 5888
Fax: (+356) 2122 1428
Director:
R.O.K. International Holding Ltd C 27483
Registration date: 22.12.2000
Address:
48, Sqaq Nru2,
Triq ix-xatt
Pieta'
Shareholders:

- R.O.K International Holding Ltd C27483
Registration date: 22.12.2000
Address:
48, Sqaq Nru2,
Triq ix-xatt
Pieta'

- Osiris Trust Ltd C36502
Address:
4, V Dimech street,
Floriana FRN 1504
Phone: (+356) 2123 5888
Fax: (+356) 2122 1428
Osiris Trust Ltd are authorised to Act as a trustee or co-trustee in terms of Article 43(3) of the Trusts and Trustees Act.

 

PRESS

 

22.10.2008, No Press/Media released are avialable

 

 

AUDITORS / ACCOUNTANTS

 

Auditor: Ray Azzopardi
Date: 31.12.2007
Financials have been audited
Company: KPMG, Portico Building, Marina street, Pieta'

 

 

SHARE CAPITAL

 

Registered capital:

EUR 3,847.11

Number of Ordinary A:

5,581

Value per share of Ordinary A:

EUR 0.69

Number of Ordinary B:

1

Value per share of Ordinary B:

EUR 0.69

 

Issued capital:

EUR 3,847.11

Number of Ordinary A:

5581

Value per share of Ordinary A:

EUR 0.69

Number of Ordinary B:

1

Value per share of Ordinary B:

EUR 0.69

 

Paid-up capital:

EUR 3,847.11

 

 

CHARGES

 

This information is not available.

 

 

FINANCE

 

Amounts shown in US Dollar (USD) 

01.01.2007-31.12.2007

01.01.2006-31.12.2006

 



PROFIT & LOSS

 

Sales Turnover

8,912,246.00

8,437,098.00

 

Cost of Sales

-6,668,461.00

-6,795,013.00

 

Gross Profit

2,243,785.00

1,642,085.00

 

Other Operating Income

50,000.00

50,000.00

 

Selling / Distribution / Promotional Expenses

-1,113,120.00

-743,806.00

 

Administrative Expenses

-241,263.00

-192,105.00

 

Other Operating Expenses

-28,941.00

-24,146.00

 

Operational Profit

910,461.00

732,028.00

 

Finance Costs

-367.00

-2,419.00

 

Financial Income

69,117.00

48,090.00

 

Net Financial Items

68,750.00

45,671.00

 

Profit Before Taxation

979,211.00

777,699.00

 

Corporate Income Tax

-342,733.00

-272,195.00

 

Profit for the year

636,478.00

505,504.00

 



BALANCE SHEET

 

Property, Plant & Equipment

1,713.00

 

 

Total Fixed Assets

1,713.00

 

 

Inventory / Stock

501,732.00

780,773.00

 

Trade Debtors (receivables from customer)

2,221,715.00

1,344,255.00

 

Cash in Hand & at Bank

1,584,660.00

1,005,265.00

 

Total Current Assets

4,308,107.00

3,130,293.00

 

Deferred Taxation

62,912.00

68,007.00

 

Total Assets

4,372,732.00

3,198,300.00

 

Profit & Loss Account

1,712,040.00

1,703,589.00

 

Total Equity

1,717,622.00

1,709,171.00

 

Taxation Due

337,638.00

266,668.00

 

Issued and Paid Up Capital

5,582.00

5,582.00

 

Total Current Liabilities

2,655,110.00

1,489,129.00

 

Total Equity & Liabilities

4,372,732.00

3,198,300.00

 

Creditors & Accruals

2,317,472.00

1,222,461.00

 

Total Liabilities

2,655,110.00

1,489,129.00

 

RATIOS

 

01.01.2007-31.12.2007

01.01.2006-31.12.2006

Return on assets ( ROA )
Net profit before tax and interest/ Total assets

0.22

0.24

Debt ratio
(Long-term liabilities + Short-term payables + Accruals and deferred income) / Total Assets

0.61

0.47

Current ratio ( CR )
Current assets / Current liabilities

1.62

2.10

Day's supply in inventory
( Turnover / Inventory )

17.76

10.81

 

 

GENERAL COMMENTS

 

The company is principally engaged in the design, manufacture and sale of textiles, wearing apparel, garments and related accessories. Textile International Ltd is an ITC (International Trading Company)

There was a change in the company address in 07.11.2005, with the new address being:
48, Sqaq Nru2,
Triq ix-Xatt
Pieta'
Malta
(THIS IS THE REGISTERED ADDRESS)

The address listed in the Local Directory for Textile International Ltd is:-
15, Triq il-Hemel
Swieqi SWQ 3058
Malta
(THIS IS THE MAILING ADDRESS)

I have sent an email and I called the number listed on the local telephone directory. I was told that my email was forwarded but nofeed back was received. I was told that this is an international trading company but no further information was given.

 

 

MALTA FACTS AND FIGURES
Population: 403,532
Area: 316 SQ KM
Capital: Valletta
Currency: Euro
Currency Code: EUR

GDP (Purchasing Power Parity): $21.89 Billion

GDP - Composition by Sector:

GDP (Official Exchange Rate): $7.419 Billion

Agriculture: 2.7%

GDP - Real Growth Rate: 3.8%

Industry: 22.3%

GDP - Per Capita (PPP): $53,400

Services: 74.9%

 

 



Industries:
Tourism, Electronics, Ship Building And Repair, Construction, Food And Beverages, Pharmaceuticals, Footwear, Clothing, Tobacco

The strengths of the Economy of Malta are its limestone, a favourable geographic location, and a productive labour force.

Malta produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources.

The economy is dependent on foreign trade, manufacturing (especially electronics and pharmaceuticals), and tourism. Economic recovery of the European economy has lifted exports, tourism, and overall growth.

Malta adopted the euro on 1 January 2008.

LAST UPDATED: JUNE 2008

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.79

UK Pound

1

Rs.81.27

Euro

1

Rs.63.91

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions