MIRA INFORM REPORT

 

 

Report Date :           

31.05.2011

 

IDENTIFICATION DETAILS

 

Name :

CM  CRAWFORD  LTD.

 

 

Registered Office :

Suite 1326-1331, 13/F., Ocean Centre, Harbour City, 5 Canton Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

27.04.2009

 

 

Com. Reg. No.:

50661446

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer, Exporter and Retailer of all kinds of textile products

 

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

 

 Bottom of Form

 

 

Company name

 

CM  CRAWFORD  LTD.

 

 

Company ADDRESS

 

Suite 1326-1331, 13/F., Ocean Centre, Harbour City, 5 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2730 1122

FAX:                 2736 7155

E-MAIL:            contact@imaginex.com.hk

 

 

MANAGEMENT

 

Managing Director:  Mr. Tsui Yiu Cheung

 

 

SUMMARY

 

Incorporated on:             27th April, 2009.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000,000.00

Issued:              HK$10,000,000.00

 

Business Category:        Importer, Exporter and Retailer.

 

Employees:                   40.  (Hong Kong only)

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Suite 1326-1331, 13/F., Ocean Centre, Harbour City, 5 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

 

Trading as:-

Club Monaco, Hong Kong.  (Same BR No.)

 

Holding Company:-

ImagineX Ltd., British Virgin Islands.

 

Associated/Affiliated Companies:

Lane Crawford Joyce Group of Companies

Chesterland Group Ltd., British Virgin Islands.

Essential View Ltd., British Virgin Islands.

ImagineX (Shanghai) Commercial Co. Ltd., China.

ImagineX Beauty LC Ltd., Hong Kong.

ImagineX Beauty Ltd., Hong Kong.

ImagineX BG Ltd., Hong Kong.

ImagineX Enterprises Ltd., Hong Kong.

ImagineX Management Co. Ltd., Hong Kong.

ImagineX MJD Ltd., Hong Kong.

ImagineX Overseas Ltd., Hong Kong.

ImagineX PS Ltd., Hong Kong.

ImagineX PS Wholesales Ltd., Hong Kong.

ImagineX SF Ltd., Hong Kong.

ImagineX TM Ltd., Hong Kong.

ImagineX Trading Ltd., Hong Kong.

Jade Creations Ltd., Hong Kong.  [Dormant]

JC Crawford Ltd., Hong Kong.

Joyce Boutique Holdings Ltd., Bermuda/Hong Kong.

Joyce Boutique Ltd., Hong Kong.

Lane Crawford (China) Ltd., British Virgin Islands.

Lane Crawford (Macau) Ltd., Macau.

Lane Crawford (Singapore) Pte. Ltd., Singapore.

Lane Crawford Holdings Ltd., Hong Kong.

Lane Crawford International Ltd., Bermuda.

LCJG Distribution Co. Ltd., Hong Kong.

On Pedder Ltd., Hong Kong.

Pedder Group Ltd., Hong Kong.

Pedder Red Ltd., Hong Kong.

Pedder Vision Ltd., Hong Kong.

etc.

 

 

BUSINESS REGISTRATION NUMBER

 

50661446

 

COMPANY FILE NUMBER

 

1334841

 

 

MANAGEMENT

 

Managing Director:  Mr. Tsui Yiu Cheung

 

 

CAPITAL

 

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

 

Issued Share Capital: HK$10,000,000.00

 

 

SHAREHOLDER

(As per registry dated 27-04-2011)

 

Name

 

No. of shares

ImagineX Ltd.

P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands.

 

10,000,000

========

 

DIRECTORS

(As per registry dated 27-04-2011)

 

Name

(Nationality)

 

Address

CHAN Kai Cheuk, Stephen

Flat B, 13/F., Prosperous Height, 62 Conduit Road, Hong Kong.

 

TSUI Yiu Cheung

Flat C, 7/F., Conduit Tower, 20 Conduit Road, Hong Kong.

 

MOK Wai Man

Flat D, 11/F., Prosperous Height, 62 Conduit Road, Hong Kong.

 

SECRETARY 

(As per registry dated 27-04-2011)

 

Name

Address

CHAN Lap Yee

Flat D, 10/F., Block 1, The Grand Panorama, 10 Robinson Road, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 27th April, 2009 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, Exporter and Retailer.

 

Lines:                           All kinds of textile products.

 

Employees:                   40.  (Hong Kong only)

 

Commodities Imported:   Europe, US, etc.

 

Markets:                       Hong Kong, China, other Asian countries, etc.

 

Annual Turnover:            Quite significant amount.

 

Terms/Sales:                 COD or as per contracted.

 

Terms/Buying:               Various terms.

 

 

MEMBERSHIP

 

Hong Kong Retail Management Association Ltd., Hong Kong.

 

FINANCIAL INFORMATION

 

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

 

Issued Share Capital:     HK$10,000,000.00

 

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., Hong Kong.

 

Standing:                      Normal.

 

 

GENERAL

 

Having issued 10 million ordinary shares of HK$1.00 each, CM Crawford Ltd. is wholly owned by ImagineX Ltd. which is a BVI-registered firm.

Being a member of the ImagineX Group, the subject is a textile product trader.  The Group operates as a brand management and distribution company that provides services for international fashion, cosmetic, and lifestyle brands.

Besides the subject, the Group now has regional offices in Shanghai, Beijing, and Taipei.  The markets of the Group are the Greater China region.

The subject is carrying the business of “Club Monaco”.  Formerly, the business of “Club Monaco” was handled by LCJG Distribution Co. Ltd. which is a Hong Kong registered firm.  In September 2009, LCJG Distribution Co. Ltd. transferred all the business of trading and distribution of the products of “Club Monaco” and other lines of businesses of LCJG Distribution Co. Ltd. to the subject.  The transfer was completed on 1st June, 2009.

“Club Monaco” was founded in 1985.  It offers men and women updated classics and key fashion pieces that are the foundation of a modern wardrobe.

The business of the subject has been improving in the Greater China region.

The directors of the subject are Mr. Tsui Yiu Cheung, Mr. Chan Kai Cheuk and Mr. Mok Wai Man.  The three directors of the subject are also the directors of Pedder Group Ltd. which is a Hong Kong-registered firm.

Pedder Group Ltd. is a wholly-owned subsidiary of Chesterland Group Ltd. [Chesterland] which is a BVI-registered firm.  The old name of Chesterland was The Lane Crawford Joyce Group (BVI) Ltd.  However, Pedder Group belongs to the Lane Crawford Joyce Group.

Pedder Group includes the following firms:-

On Pedder Ltd.

Pedder Group Ltd.

Pedder Red Ltd.

Pedder Vision Ltd.

Pedder Group is the leading retailer of high end footwear, ladies shoes, handbags and accessories in Southeast Asia.  It manages Lane Crawford shoes and accessories as well as designer footwear boutique “On Pedder”, mid-market footwear multiple “Pedder Red” and several franchises.

Through the Lane Crawford department stores and its own boutiques, “On Pedder” and “Pedder Red”, Pedder Group retails high-end accessories and footwear at 45 points of sale across Greater China and Southeast Asia.  Pedder Group has upscale “On Pedder” boutiques in Hong Kong, Shanghai, Taipei, Singapore and Jakarta and opened “On Pedder” stores in Beijing and Bangkok in late 2007.

On the whole, in view of the background of the subject, consider it good for normal business engagements.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.10

UK Pound

1

Rs.74.27

Euro

1

Rs.64.35

 

 

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.