MIRA INFORM REPORT

 

 

Report Date :           

30.06.2011

 

IDENTIFICATION DETAILS

 

Name :

CARMELTON  ENTERPRISE  LTD.

 

 

Registered Office :

Room 1508, 15/F. & Room 3106, 31/F., Yat Chau International Plaza, 118 Connaught Road West, Sai Ying Pun

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

19.07.2005

 

 

Com. Reg. No.:

35848924

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Manufacturer, Importer and Exporter of Baby toiletries, hospital and medical equipment, etc

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct 

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

CARMELTON  ENTERPRISE  LTD.

 

 

Company ADDRESS

 

Room 1508, 15/F. & Room 3106, 31/F., Yat Chau International Plaza, 118 Connaught Road West, Sai Ying Pun, Hong Kong.

PHONE:            2417 3236,  2803 2199

FAX:                 2914 4298,  2803 2826

E-MAIL:                        cme@carmelton.com

sales@carmelton.com

wilfred@carmelton.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Li Kwok Ming, Wilfred

 

 

SUMMARY

 

Incorporated on:             19th July, 2005.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,952,381.00

Issued:              HK$10,952,381.00

 

Business Category:        Manufacturer, Importer and Exporter.

 

Group Turnover:             HK$32~37 million.

 

Employees:                   8.

 

Main Dealing Banker:     Wing Hang Bank Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 1508, 15/F. & Room 3106, 31/F., Yat Chau International Plaza, 118 Connaught Road West, Sai Ying Pun, Hong Kong.

 

Affiliated Factory: 

Dongguan City, Guangdong Province, China.

 

Affiliated Company:-

Carmelton Co. Ltd., Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

35848924

 

 

COMPANY FILE NUMBER

 

0984297

 

 

MANAGEMENT

 

Managing Director:  Mr. Li Kwok Ming, Wilfred

 

 

CAPITAL

 

Nominal Share Capital: HK$10,952,381.00 (Divided into 10,952,381 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,952,381.00

 

 

SHAREHOLDERS

(As per registry dated 19-07-2010)

 

Name

 

No. of shares

HO Kam Wah

 

2,300,000

LAM Siu Sek

 

1,150,000

AU Kit Chun

 

1,150,000

LI Kwok Ming

 

4,052,381

WONG Shuk Mui, Selina

 

2,300,000

 

 

–––––––––

 

Total:

10,952,381

========

 

 

DIRECTORS  

(As per registry dated 19-07-2010)

 

Name

(Nationality)

 

Address

HO Kam Wah

Flat F, 29/F., Tower 5, The Belchers, 89 Pok Fu Lam Road, Hong Kong.

 

LI Kwok Ming

A2, 1/F., YY Mansions, 96 Pok Fu Lam Road, Hong Kong.

 

LAM Siu Sek

Flat A, 5/F., Block B, Mountain Court, 5 Ho Man Tin Hill Road, Kowloon, Hong Kong.

 

WONG Shuk Mui, Selina

Flat 3C, Wealthy Heights, 35 MacDonnell Road, Mid-Levels, Hong Kong.

 

 

SECRETARY 

 

HO Kam Wah  (As per registry dated 19-07-2010)

 

 

HISTORY

 

The subject was incorporated on 19th July, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Room 1110, 11/F., Yat Chau International Plaza, 118 Connaught Road West, Sai Ying Pun, Hong Kong, moved to Room 1508, 15/F. & Room 3106, 31/F. of the same building in August 2009.

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

 

OPERATIONS

 

Activities:                      Manufacturer, Importer and Exporter.

 

Lines:                           Baby toiletries, hospital and medical equipment, etc.

 

Employees:                   8.

 

Materials/Commodities:  Imports raw materials from European countries, some Asian countries and finished

products from China.

 

Markets:                       Hong Kong, China, other Asian countries, Africa, Europe, Middle East, North America,

Central and South America, Scandinavia, etc.

 

Group Turnover: HK$32~37 million.

 

Terms/Sales:                 L/C, T/T or as per contracted.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

MEMBERSHIP

 

The Chinese General Chamber of Commerce, Hong Kong.

The Chinese Manufacturers’ Association of Hong Kong, Hong Kong.
[Membership No. 010033]

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital: HK$10,952,381.00 (Divided into 10,952,381 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,952,381.00

 

Alternation of Capital:-

Initially

paid up

HK$      10,100,000.00

11-01-2010

paid up

HK$      852,381.00

 

 

––––––––––––––––

Total:

paid up

HK$      10,952,381.00

===============

 

Increase of Nominal Capital:-

From

HK$10,100,000.00

to

HK$10,952,381.00

on

11-01-2010

 

Mortgage or Charge:-

Date of  Trade Finance Security Assignment:  13-08-2009

Amount:            All obligations and liabilities

Property:           The Borrower as beneficial owner and as security for the payment of all Secured Liabilities

Mortgagee:        Wing Hang Bank Ltd., Hong Kong.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in an active condition.

 

Facilities:                      Adequate for current running.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:  Satisfactory.

 

Bankers:-

Wing Hang Bank Ltd., Hong Kong.

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

 

Standing:  Normal.

 

 

GENERAL

 

Having issued 10,100,000 ordinary shares of HK$1.00 each, Carmelton Enterprise Ltd. is jointly owned by five Hong Kong merchants.  In January 2010, the subject increased its issued share capital from HK$10,100,000.00 to HK$10,952,381.00.

Three of the larger shareholders are Mr. Li Kwok Ming, Mr. Ho Kam Wah and Ms. Selina Wong Shuk Mui.  The first is holding 37.0% interests while the second and third each is holding 21.0% respectively.  The balance 21.0% is equally owned by Ms. Au Kit Chun and Mr. Lam Siu Sek.

The subject moved to the present address in August 2009.

Currently, the subject is manufacturing the following products and offering clients with the following services:-

Product/Service

Product/Service Remarks

Baby Products

 

Baby Toiletries

 

Diaper – Paper, Infant, Disposable

Underpad, Pre-Mature Baby Droper, Baby Nappy Pad

Hospital and Medical Supplies

 

Medical Supplies

 

Diaper For Adult

UnderPad, Adult Incontinent Pad, Disposable Lines

Toiletries and Personal Care Products

 

Toiletries

 

Sanitary Napkin

Pantyliner, Maternity pad

Mattress

 

Feminine Care Products

 

Pets Products

 

Doll Products

 

Tissue Paper

 

 

Bearing the brand name of “CARMELTON”, the subject’s products are manufactured by its factory which is in Dongguan City, Guangdong Province, China employing about 155 persons.  Currently, the China factory has set up the following departments:-

·         R&D Engineering Department

·         Laboratory

·         Purchasing Department

·         Production, QC & QA Department

·         Marketing Department

The subject’s commodities are marketed in Hong Kong and China, and exported to Australia, India, Japan, Singapore, other Asian countries, Russia, Africa, Europe, the Middle East, North America, Central and South America, Scandinavia, etc.  Overall business is active.  Some of its local customers are hospitals, retailers and even homes of the aged.

The subject is a member of the Carmelton Group.  The other member of the Group is Carmelton Co. Ltd. which is located at the same operating address of the subject.

Founded in 1993, Carmelton Group is a Hong Kong based group with the goal of developing and manufacturing innovative quality products in adult incontinence, baby care and sanitary preparation areas, which would meet the global health and hygiene industry and serve institutional and retail markets throughout the world.  The Group’s products have got the ISO 9001 certification.  The annual sales turnover of the Group ranges from HK$32 to 37 million.  Making a small profit every year.

In the years ahead, the subject will put more emphasis on adult incontinence products as the demands are increasing.  On the other hand, the subject keeps on developing baby care products and feminine care products in order to suit the different needs of the growing population, both physically and psychologically.

The history of the subject is about six years in Hong Kong.

On the whole, consider it good for normal business engagements.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.71.91

Euro

1

Rs.64.60

 

 

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%)

 

 

 

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

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