MIRA INFORM
REPORT
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Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
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Name : |
NANO-TEX ASIA
LTD. |
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Registered
Office : |
Room 1001-1007, 10/F., Wah Yiu Industrial Centre, 30-32 Au
Pui Wan Street, Fo Tan, Shatin, New Territories |
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Country : |
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Date of
Incorporation : |
28.02.2006 |
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Com. Reg. No.: |
36488262 |
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Legal Form : |
Private Limited
Company. |
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Line of Business
: |
Importer, Exporter and Wholesaler of Chemicals for textile products, 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 : |
Regular |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
company name
NANO-TEX ASIA
LTD.
Company ADDRESS
Room 1001-1007, 10/F.,
Wah Yiu Industrial Centre, 30-32 Au Pui Wan Street, Fo Tan, Shatin, New
Territories,
PHONE: 3579 6788
FAX: 3579 6721
MANAGEMENT
Managing Director: Mr. Chen Qihong
SUMMARY
Incorporated on: 28th February, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 30.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Room 1001-1007, 10/F., Wah Yiu Industrial Centre, 30-32 Au
Pui Wan Street, Fo Tan, Shatin, New Territories,
Holding Company:-
Nano-Tex Inc.,
BUSINESS REGISTRATION NUMBER
36488262
COMPANY FILE NUMBER
1027062
MANAGEMENT
President & Chief Executive Officer: Mr. James Patrick Curley
Managing Director: Mr. Chen Qihong
Contact Person: Ms. Cherry Sin
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDER
(As
per registry dated 28-02-2010)
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Name |
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No. of shares |
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Nano-Tex Inc. |
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10,000 ===== |
DIRECTORS
(As
per registry dated 10-09-2010)
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Name (Nationality) |
Address |
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CHEN Qihong |
Flat C, 13/F., Block 6, Whampoa Garden, Site 5, 7 Tak Fung Street, Kowloon, Hong Kong. |
|
Joseph Lawrence GORGA |
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Martin Leon LAGOD |
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James Patrick CURLEY |
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SECRETARY
(As
per registry dated 28-02-2010)
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Name |
Address |
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Schlo Secretaries & Nominees Ltd. |
14/F., Greatmany
Centre, 109-115 Queen’s Road East, Wanchai, |
0080887 |
HISTORY
The subject was incorporated on 28th February, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Enormous Vortex Ltd., name changed to the present style on 22nd March, 2006.
Formerly the subject was located at Room 2708-2710, 27/F., Prosperity Centre, 25 Chong Yip Street, Kwun Tong, Kowloon, Hong Kong, moved to the present address with effect from 27th March, 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Chemicals for textile products, etc.
Employees: 30.
Commodities Imported:
Markets: Worldwide countries.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Making a small profit.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Standing:
GENERAL
Nano-Tex Asia Ltd. is a wholly-owned subsidiary of Nano-Tex Inc. [Nano‑Tex] which is a US-based firm. The subject is a textile chemical trader.
Nano-Tex, a textile technology company, provides nanotechnology-based textile enhancements to the apparel, commercial, and residential interiors markets. It offers Resists Spills, a spill resistant fabric enhancement for various fibres, including cotton, synthetics, wool, silk, rayon, and polypropylene that repels a range of liquids; and Coolest Comfort, a quick‑absorbing fabric enhancement that provides superior wicking properties, which pulls perspiration away from the body and dries it quickly to keep the body cool and comfortable. It also offers Resists Static, which lets fabric repel lint, dust, and pet hair that normally clings due to static attraction; Dry Inside, a performance cotton that moves moisture away from the skin and isolates it on the outer surface; and All Conditions Fleece that repels water and resists static for the life of the garment. The treated garments offer “cool comfort”.
In addition, Nano-Tex offers Resists Spills and Releases Stains, a stain release combined with stain repellency. Its fabrics are used in various products, including trousers, active wear, uniform, shirting, and business attire for men, women, and children.
Nano-Tex
was founded in 1998 and is headquartered in
To
date, more than 80 textile mills worldwide are utilizing Nano-Tex treatments in
products sold by more than 100 leading apparel and interior furnishings brands,
including “New Balance”, “Gap”, “Old Navy”, “Target”, “Hugo Boss”, “Paul Stuart”, “Rene Lezard”, “Lee”, “Chamkpion”, “Levi” and “Simmons”. Products with Nano-Tex enhancements are sold
throughout North America, Asia and
Mr. James Patrick Curley has been appointed President and Chief Executive Officer [CEO] of Nano-Tex and named to its board of directors. Curley joined Nano-Tex as Chief Financial Officer in June 2005 responsible for all financial and administrative functions of Nano-Tex, as well as supply chain management. In December 2005, Curley was named Interim CEO, responsible for Nano-Tex’s leadership and direction. In his new position, Curley continues to oversee all aspects of Nano-Tex’s worldwide business operations including its continued expansion into the apparel and commercial interiors markets.
Prior
to joining Nano-Tex, Curley was Chief Financial Officer of LeapFrog Enterprises
Inc. [LeapFrog] where he was part of the senior team that led LeapFrog to
become the nation’s third largest toy manufacturer with sales of US$680 million.
From 1992 to 1998, he was Chief
Financial Officer & Chief Administrative Officer of The Gymboree
Corporation. At The Gymboree
Corporation, Curley was part of the leadership team that grew Nano-Tex from a
venture capital backed startup to a multinational operator of over 400 stores. Curley’s experience includes executive
positions in financial and general management positions for a number of other
consumer and trade retail companies including Four Green Fields fine home and
gift stores; Gantos Inc., a specialty retailer of women’s apparel and
accessories; and upscale furniture retailer Huffman Koos Inc. Curley’s experience and accomplishments
include serving as an officer with the US Air Force attaining the rank of
Captain. Curley holds a Bachelor of
Business Administration from
On the whole, in view of the background and parentage of the subject, consider it good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.11 |
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|
1 |
Rs.73.25 |
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Euro |
1 |
Rs.61.70 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.