MIRA INFORM REPORT

 

 

Report Date :           

30.12.2011

 

IDENTIFICATION DETAILS

 

Name :

PURE  COTTON  LTD.

 

 

Registered Office :

c/o Global Law Services Ltd., Suite B, 5/F., Two Chinachem Plaza, 68 Connaught Road Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

16.07.2004

 

 

Com. Reg. No.:

34786515

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of Knitted and woven garments, etc.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

PURE  COTTON  LTD.

 

 

Company ADDRESS    

 

c/o Global Law Services Ltd.

Suite B, 5/F., Two Chinachem Plaza, 68 Connaught Road Central, Hong Kong.

PHONE:                        2544 2291

FAX:                 2541 3012

E-MAIL:                        natalino.duo@purecottonindia.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Natalino Duò

 

 

SUMMARY

 

Incorporated on:             16th July, 2004.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$1,000.00

 

Business Category:        Garment Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

c/o Global Law Services Ltd.

Suite B, 5/F., Two Chinachem Plaza, 68 Connaught Road Central, Hong Kong.

 

Associated Companies:-

·         Crescendo Clothing Pvt. Ltd., India.

·         DCM Benetton India Ltd., India.

·         Indiacom Ltd., India.

·         Perfetti Van Melle India Pvt. Ltd., India.

·         Pure Cotton Ltd., India.

·         Tecnova India Pvt. Ltd., India.

 

 

BUSINESS REGISTRATION NUMBER

 

34786515

 

 

COMPANY FILE NUMBER

 

0912174

 

 

MANAGEMENT

 

Managing Director:  Mr. Natalino Duò

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1,000.00

 

SHAREHOLDERS

(As per registry dated 16-07-2011)

 

Name

 

No. of shares

Natalino DUÒ

 

999

Global Law Services Ltd., Hong Kong.

 

1

 

 

–––––

 

Total:

1,000

====

 

 

DIRECTOR    

(As per registry dated 16-07-2011)

 

Name

(Nationality)

 

Address

Natalino DUÒ

Strada Castello di Mirafiori, 14 10135 Torina, Italy.

 

SECRETARY 

(As per registry dated 16-07-2011)

 

Name

Address

Co. No.

Global Law Services Ltd.

Suite B, 5/F., Two Chinachem Plaza, 68 Connaught Road Central, Hong Kong.

0187564

 

 

HISTORY

 

The subject was incorporated on 16th July, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           Knitted and woven garments, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Portugal, France, Turkey, South Africa, etc.

 

Terms/Sales:                  L/C, T/T, etc.

 

Terms/Buying:               L/C, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1,000.00

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 1,000 ordinary shares of HK$1.00 each, Pure Cotton Ltd. is almost wholly owned by Natalino Duò who is an Italy passport holder.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Suite B, 5/F., Two Chinachem Plaza, 68 Connaught Road Central, Hong Kong known as Global Law Services Ltd. which is handling its correspondences and documents.  This firm is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

It is likely that the head office of the subject is in India [India PCL].  India PCL is trading in casual and formal wears.  Its products are exported to Portugal, France, Turkey, South Africa, etc.

Natalino Duò is also the director of Tecnova India Pvt. Ltd. which is an India‑based firm.  He is also the Chairman of another India-based firm Indiacom Ltd.  Natalino Duò had also served as Managing Director of Perfetti Van Melle India Pvt. Ltd. [Perfetti] and DCM Benetton India Ltd. [Benetton].  During his tenure, Perfetti grew as the market leader in the Indian confectionary market.  Benetton also has expanded its retail-outlets and made the product-range more suitable to the Indian market.  He is also the former Chairman of the Indo Italian Chamber of Commerce.  Duò moved to India from Italy in the mid nineties as the CEO of Perfetti.  From 1999, Natalino served as the CEO of Benetton in India.  Previously, he worked with Kimberly Clarks, L’Oreal and Telecom Italia.  He is also the Cofounding Member of European Business Group (India), the primary forum of European enterprises in India.  Duò has been honoured with Knighthood for Italian Solidarity in 2008 by the President of Italy, H.E. Giorgio Napolitano for his contribution to the relationship between Italy and India.  Duò obtained his Bachelor degree from Turin Liceo Scientifico and studied Marketing & Business Administration at University of Turin “Facoltà di Ecomia e Commercio”.

It is likely that India PCL deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  India PCL also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not very active.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.36

UK Pound

1

Rs.82.51

Euro

1

Rs.68.99

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.