MIRA INFORM REPORT

Report Date :

15.03.2011

IDENTIFICATION DETAILS

Name :	HINTCO TRADING LTD.
Registered Office :	Flat C & D, 5/F., Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon
Country :	Hong Kong
Date of Incorporation :	15.08.1995
Com. Reg. No.:	19708724
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of all kinds of fabrics, 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 :	Regular
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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
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

HINTCO TRADING LTD.

Company ADDRESS

Flat C & D, 5/F., Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon, Hong Kong.

PHONE: 2420 3038, 2741 6886

FAX: 2420 4215, 2785 4433

MANAGEMENT

Managing Director: Mr. Lui Pui On

SUMMARY

Incorporated on: 15th August, 1995.

Organization: Private Limited Company.

Capital: Nominal: HK$100,000.00

Issued: HK$100,000.00

Business Category: Importer, Exporter and Wholesaler.

Annual Turnover: HK$235~240 million.

Employees: 25. (Hong Kong)

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

Banking Relation: Satisfactory.

Company address

Registered Head Office:-

Flat C & D, 5/F., Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon, Hong Kong.

Associated Company:-

Hedy Ltd., Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

19708724

COMPANY FILE NUMBER

0522949

MANAGEMENT

Managing Director: Mr. Lui Pui On

CAPITAL

Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

Issued Share Capital: HK$100,000.00

SHAREHOLDERS

(As per registry dated 15-08-2010)

Name		No. of shares
LUI Pui On		70,000
CHAN Kwok Kuen		30,000
		–––––––
	Total:	100,000 ======

DIRECTORS

(As per registry dated 15-08-2010)

Name (Nationality)	Address
CHAN Kwok Kuen	Flat A, 5/F,. Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon, Hong Kong.
LUI Pui On	Flat C, 5/F., Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 15-08-2010)

Name	Address	Co. No.
Tricor Secretaries Ltd.	Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong.	0014900

HISTORY

The subject was incorporated on 15th August, 1995 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Flat A, C & D, 5/F., Leroy Plaza, 15 Cheung Shun Street, Cheung Sha Wan, Kowloon, Hong Kong, it abandoned the lease of Flat A with effect from 5th January, 2011.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of fabrics, etc.

Employees: 25. (Hong Kong)

Commodities Imported: India, Europe, Japan, etc.

Markets: China, other Asian countries, etc.

Annual Turnover: HK$235~240 million.

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

Terms/Buying: As per contracted.

FINANCIAL INFORMATION

Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

Issued Share Capital: HK$100,000.00

Indebtedness: HK$9,560,000.00 (Total amount outstanding on all mortgages and charges as

per last Annual Return dated 15-08-2010)

Mortgage or Charge: None on Company File since 2008.

Profit or Loss: Making a small profit every year.

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., Hong Kong.

Standing: Normal.

GENERAL

Having issued 100,000 ordinary shares of HK$1.00 each, Hintco Trading Ltd. is jointly owned by Mr. Lui Pui On, holding 70% interests; and Mr. Chan Kwok Kuen, holding 30%. Being Hong Kong merchants, both are also directors of the subject.

The subject has got an associated company Hedy Ltd. [Hedy], located at its operating address. Hedy and the subject are engaged in the same lines of business, more or less. Hedy was incorporated in Hong Kong on 21st July, 1987.

The subject is a piecegoods trader. It is trading in the following commodities:-

· Yarn-Dyed Item
The subject has a special team handling yarn dyed item, production base is located at Foshan City, Guangdong Province, China. Monthly production capacity ranges from 800,000 to 1,000,000 yds. The factory has been equipped with 48 air jet looms, 80 shuttleless looms, pin dyed, corn dyed, sizing machines, fabric preparation equipment, etc.

· Linen Fabric
The subject produces difference weights of pure linen and linen blended woven fabric like linen/rayon, linen/cotton, etc.

· Ramie Fabric
The subject produces different kinds and weights of pure ramie and ramie mixed fabric, like ramie/cotton ramie, etc.

· Corduroy/Velveteen Fabric
The subject has set up a mill in Jiangsu Province, China which is engaged in dyeing and weaving of different kinds of corduroy fabrics. Products are different wale/weights of corduroy fabrics including 100% cotton corduroy, cotton/rayon corduroy, CVC corduroy and T/C corduroy fabric, special weave of corduroy such as check corduroy, twill effect corduroy. In addition, the factory is able to make spandex/corduroy fabrics for its customers in different wale and construction.

Products are exported to Japan, North America, Southeast Asia, Western Europe, etc. The annual sales turnover of the subject ranges from HK$235 to 240 million. Making a small profit every year.

As the history of the subject is over fifteen years and six months 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.45.15
UK Pound	1	Rs.72.59
Euro	1	Rs.62.95

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

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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